Amazing Property

By Prince Osuagwu, Hi-Tech Editor Companies across the Middle East/Africa are discovering hybrid solutions can solve many digital transformation challenges. Dangote farms flags-off distribution of hybrid tomato seedlings to farmers in Kano‎ Moving to the cloud is not unlike relocating your business to a prime piece of real estate. The benefits are many, but the transition can be tricky. As governments and businesses race to take advantage of cloud computing, they are navigating current and future data regulations, as well as how to make the most of existing IT infrastructure. Across the Middle East and Africa (MEA), businesses are prioritising cloud adoption. Research shows most organisations in the Middle East are either using cloud computing services or plan to do so in the next two years. African businesses are following closely, with cloud adoption becoming near pervasive. With its improved security and cost savings, cloud has become key for businesses looking to compete in...

PHOTO: Investorsking Hope of a total recovery for Nigerian real estate in 2020 might not be in sight, as industry experts have predicted that there won’t be a guaranteed rapid growth in the property market. Instead, they anticipate a combination of heightened uncertainty, as financial issues globally gets tighter, but a brighter day for increase access to housing for the lower echelon of the Nigerian population, if certain reforms are implemented. According to them, the 2019 lack of liquidity in the market made the industry to underperform in terms of returns especially for high-income property market. Asides the absence of liquidity in the market, the myriad of challenges bedeviling the sector including, high cost of land registration and titling, policy and licensing issues, risk sharing mechanism, lack of adequate credit database, knowledge gaps, lack of favourable contract enforcement mechanism, cost of construction, high skilled labour costs, and costs associated with poor in...

Permanent Secretary, Ministry of Housing, Mr Wasiu Adedamola Akewusola (left); Special Adviser to the Lagos State Governor on Housing, Mrs Toke Benson- Awoyinka, Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, and the Commissioner for Ministry of Housing, Moruf Akinderu-Fatai during a Stakeholders’ Engagement on Real Estate/Agency Business held in Victoria Island, Lagos Hopes have brightened for the eventual reform of the real estate industry in Lagos, as authorities have indicated that it is now prepared to commence the enforcement of the state’s estate agency regulatory law. The law approved in 2015 establishes the state’s Estate Agency Regulatory Authority, currently managed by the Real Estate Transaction Department (LASRETRAD) under the Ministry of Housing, prepares rules and regulations for the practice of estate agency in the state. The authority will also maintain a register of estate agents, sanction unlicensed estate agency practitioners, collate data on...

This Thanksgiving, we offer thanks for family and friends—and also good home design. After all, the right style and an organized appearance goes a long way to helping sell houses. After years of normalizing neutral color palettes, for example, designers are embracing more colorful trends to showcase personality in homes. REALTOR® Magazine's Styled, Staged & Sold blog asked designers and stagers what home interior trends they're most grateful for this year. Here are their top picks. 1. More colorful spaces Goodbye, white kitchens and gray walls. More color is moving in. Homeowners favor bolder hues inside the home, not just for pops of color but also as a base color for an entire room. Paint companies have chosen variations of blues, pinks, and greens as their picks for 2020 color of the year. These colors also are being splashed on kitchen cabinets, exterior doors, and home accessories. The paint firm PPG selected Chinese Porcelain, a blend of cobalt and muted navy tones,...

Whether you’re a newbie tenant, landlord, or a veteran on the rental scene, it’s good to know your rights – particularly if you’re dealing with property outside of your home state. “You’re entering into a legal agreement with the lease so you need to make sure you understand what that entails,” says Michelle Valentic of  Advantage Property Consulting . Valentic says the biggest difference in rights between Australian states is the notice to leave period both on the renter’s side and on the landlord’s – some states only require a small number of days, while others could be as many as 120 days. Tenants are becoming more cognisant of their rights, says Valentic. Picture: realestate.com.au/buy For renters, Valentic says knowing your rights is especially important when handling owners who self-manage, and therefore might not understand the rules that are in place. “Maintenance is a big issue,” she says. “A lot...

Abuja city The Federal Capital Territory Administration (FCTA) has expressed concern over the total neglect of projects in the six area councils. FCT Minister of State, Dr. Ramatu Tijjani Aliyu, who made this known while on tour of facilities of Kuje Area Council in Abuja, expressed worry over the dilapidating state of Kuje mini stadium, describing it as one of the ‘non-existence projects’ in the council. She, however, reiterated the commitment of present administration towards completion of all abandoned projects, stressed that the FCTA may consider the option of Public, Private Partnership (PPP) arrangement to complete some of the identified projects. The minister also used the occasion to advocate for adequate funding of the councils aimed at decongesting the city centre, noted that the tour of facilities was to identify areas of urgent needs. According to her, “the Kuje stadium is non-existence because it has not been put to effective use in the past five...

A flooded estate in Lagos Except there is a reorientation on locations, design and foundation methodology in flood prone areas, many buildings still risk collapse in view of the incessant rainfall across the country, professionals have warned. There have been weeks of pounding rains, which swamped major cities, leaving homes and facilities isolated by flood water. As the floods stay weeks even months to recede, some buildings become weakened and exposed to the weather. Most of the buildings that had collapsed recently in some locations in states are multi-storey, which could suggest problems of soil structure and weak foundations. For instance, a two-storey building recently caved in and collapsed at number 22, Nkisi Aroli street, Onitsha, Anambra state amidst the heavy rainfall, while four persons were confirmed dead after a house built on a hill and collapsed on another in the Otun Araromi area of Isheri-Magodo, Lagos State. Similar circumstances were recorded in Abuja, when one stor...

Photo: PEXELS The manufacturers of paint-based products in Nigeria have been told to embark on the reformulation of their production through processes that are devoid of lead-based ingredients, safer to humans and ecologically friendly. According to experts who gathered in Lagos, the global community expects Nigeria to comply with the lead paint phase-out by the year 2020 for the nation to become competitive in the world’s paint market estimated at $850 billion with a yearly growth of 9 per cent. They said phasing out lead contents in paints would bring about environmental sustainability, increase manufacturers’ corporate social responsibility and image with consumers. Lead is added to paint to accelerate drying, increase durability, maintain a fresh appearance, and resist moisture that causes corrosion. However, research has shown that the substance is one of the main causes of health and environmental hazards globally and in Nigeria. Lead is a cumulative toxicant that affe...

Real Estate word on newspaper. Photo: MAGICBRICKS To boost home ownership, experts in the real estate sector have called for holistic implementation of housing policy capable of addressing infrastructural and mortgage challenges in the industry. Currently, about 108 million Nigerians are estimated to be homeless, based on an average family of six people per housing unit, which has robbed her teeming population the comfort that a good house brings.Also, homeownership rate in the country is put of 25 per cent, lower than that of Indonesia (84 per cent), Kenya (73 per cent), and South Africa (56 per cent). Experts who spoke to The Guardian at the sideline of a housing summit organized by LifePage Real Estate in Lagos, lamented the poor rate of home ownership in the country, and urged government to partner private sector on infrastructure, mortgage system and data documentation. Chief Executive officer, the Common Sense Estate Development Project, Dr. Olumide Emmanuel, who led discussions ...

Photo: PIXABAY To remain relevant in the future, architects and notable eggheads in the construction industry have called for innovative ideas that will preserve cities in Nigeria. They said only the creative and innovative minds are best suited to take charge of the new digital world. According to them, the construction sector is contending with new roles with more problems while the new field is emerging, hence the need for adoption of these technologies. Pioneer president of the Association of Consulting Architects of Nigeria, (ACAN) Olusegun Ladega, who led discussions at a symposium themed: “Future Trends in the Architecture, Engineering and Construction Industry, noted the challenges poised by technology in the future of architecture. He urged practitioners to embrace technology to leapfrog the challenges, as the world is now a global village. According to him with the developing trends leading to competition with foreign firms, architects in Nigeria should not be afraid but...

An ambitious housing scheme has been launched by the Nigeria Police Force to ameliorate the housing challenges facing its rank and file across the country. The police, presently lack descent accommodation for its officers and men, as is visibly evident in the condition of most Police barracks.The more worrisome is that most policemen in Nigeria work and retire without having a home to spend the rest of their life. Against this backdrop, the force signed a joint development agreement with a property development company, Echostone Nigeria Limited, to develop 100,000 homes for its officer nationwide at the total cost of N750 billion. Under the agreement, the Nigerian Police Property Development Company (NPPDC) will provide the land and Echostone will serve as the developer. The Nigerian Police Force Mortgage Bank (NPFMB) will provide the mortgage facility and the off-takers.The project consists of a one, two and three bedroom homes, built to the highest quality standard and in a very beau...

Hon. Minister of State, Federal Ministry of Works and Housing, Engr. Abubakar D. Aliyu (FNSE), at Commemoration of 2019 Urban October, held at NAF Conference Centre, Abuja The minister of works and housing, Babatunde Fashola stated this at 2019 World Habitat Day and World Cities Day in Abuja, said the programme will be in partnership with United Nations Habitat. He said the new policy would accommodate issues not captured in the old policy.   Represented by the minister of state, Abubakar Aliyu, an engineer, called for a collective reflection, stocktaking and strengthening partnerships, to accelerate action in the pursuit for sustainable urban development in Nigeria. On his part, chairman, senate committee on housing, Senator Sam Egwu represented by his Vice, Senator Oyelola Isa Ashiru, pledged the Committee’s full support towards achieving sustainable development of the cities. Guardian

The Adeniji Adele Estate in Lagos Central Business District Three years after the authorities finalised plans to embark on the redevelopment of Adeniji Adele, one of the fast approaching slums communities in Lagos Central Business District, it appears the project has hit the brick walls due to the paucity of funds. The Adeniji Adele redevelopment project was first identified for regeneration during the Raji Fashola administration. The project conceived by the state’s urban renewal authority was meant to be developed through exclusive state funding, however, a Public Private Participation approach was introduced in 2016. It was formulated to redevelop the blighted estate, currently housing 720 families. The project would accommodate an estimated 2,500 housing units via a high rise building development. Based on the design, the Adeniji Adele Phase I-IV Housing proposes to adopt a multi-faceted housing type at various heights to achieve the required density for the redevelopment. Ess...