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Agriculture and Housing Sectors Exempt from Austerity as Oil Prices Tumble

In a bid to reel in spending and cushion the negative effects of falling prices, Finance Minister Ngozi Okonjo-Iweala announced that the government would be commencing austerity measures. Oil prices across the globe have tumbled significantly, putting pressure on Nigeria’s economy where 70 percent of government revenue is generated from oil resources. The benchmark oil price of $77.5 per […]

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Lagos named 19th of 25 Affordable Cities for Youths

Lagos was named alongside Sao Paulo, Paris, Berlin, Chicago and Shanghai in a new City Affordability Index focused on the youth. Youthful Cities analysed 25 of the world’s biggest cities and compared the cost of everyday items like food, housing, entertainment, travel and public transit. Lagos was 19th, beating Sao Paulo, Nairobi and Mexico City, […]

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£710m Preffered Bidder for Gherkin Selected

A company controlled by the Safra Group has emerged as the preferred bidder for the acquisition of London’s iconic tower. EuroProperty reported that this bid was for £710m, however new reports state the bid is up to £726. The tower, which was put up for sale in July was bought by its current owners for £600m in 2006 and welcomed bids […]

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Singapore’s Sovereign Wealth Fund Invests $1.7bn in Tokyo Real Estate

GIC, Singapore’s sovereign wealth fund, through its affiliate, has acquired the office component of Pacific Century Place Marunouchi in Tokyo from Secured Capital. Completed in 2001, Pacific Century Place Marunouchi is a landmark 32-storey mixed-use development with a gross floor area of 81,692 square meters. The office component is made up of levels 8-31 and […]

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Innovation in the Office and Hospitality Space

Despite the locational advantages of living in a megacity, there is overwhelming evidence showing that the stress caused by being around other people can constantly overrun the health benefits. There has always been an urgent need to find innovative solutions in resolving problems as cities grow. In response to this, two Canadian entrepreneurs started the […]

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Transcorp Hotels in N8bn ($49m) IPO

Transcorp Hotels (Nigeria) intends to raise US$48.8m (N8bn) through an IPO, which commenced marketing on Sept. 25th and is expected to close on Oct. 17th.  The hotel company will offer 800 million ordinary shares to investors at 10 naira per share. Transcorp Hotels is the hospitality subsidiary of Transcorp (Transnational Corporation of Nigeria Plc) and it plans […]

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The Competitiveness of Cities: Lagos – World Economic Forum

This is an excerpt from the World Economic Forum Report on ‘The Competitiveness of Cities’, where Lagos was used as a Case Study. What follows is a snippet of the introduction, and what was said about Lagos. Cities have been the engines of productivity and growth throughout history, and will be essential to the future growth […]

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Barclays Africa wants a fully-fledged business in Nigeria by 2016

Barclays Africa recently revealed that they are keen on expanding their corporate investment banking business in Nigeria into a fully-fledged business by 2016. CEO Maria Ramos explained in late July that Barclays Africa was unlikely to buy any banks in Africa’s largest economy as they were expensive. She added that the strategy in Nigeria would be to […]

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Lagos Among 10 Worst Cities to Live in Globally

Lagos was ranked 137 out of 140 in the Economist Intelligence Unit’s (EIU) 2014 Global Livability survey that examines liveability conditions across the world. Lagos ranked with the likes of Damascus in Syria, Dhaka in Bangladesh and other cities in Pakistan, Zimbabwe and Libya. The factors that determine how scores and ranks were calculated include Healthcare, […]

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Why are REITs good investment instruments?

REITs avoid a big chunk of corporate taxes by paying out most of its income through dividends. In return, REITs have their own tax rules which are passed down to you (dividends are taxed as ordinary income). Taxes aside, the great REIT performance boils down to investor behavior, changing tides, and FED influence (For the US): REITs […]

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