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Profica Team takes on Non Retail Construction Projects in Nigeria

Profica, a professional construction project management company, recently announced their appointment to manage the construction of three projects in Nigeria. As their experience in the project management of Jabi Lake Mall, Owerri Mall, Asaba Mall, Delta Mall and Festival Mall demonstrate, the team is well versed in project management for retail construction in Nigeria. These new appointments […]


Here are the Challenges facing Nigerian REITs and the actions Regulators will take

The Nigerian Stock Exchange’s held its Inaugural Real Estate Investment Trust (REIT) conference in late May and stakeholders across various sectors came together once more to discuss the ways each stakeholder, from regulator to investor, will play their part in setting the Nigerian REIT sector in motion. We have outlined 3 major areas of discussion based on the panel interviews and […]


ei & NSE: Overview of the Nigerian REIT Industry

Visit the Real Estate Research Report Centre for our overview of the Nigerian REIT Industry completed in collaboration with the Nigerian Stock Exchange for their inaugural REIT conference. Real Estate Research Reports


Nigerian Construction Sector finally leaves negative territory

After 6 consecutive quarters of negative growth starting from Q2:2015 up until Q4:2016, the Nigerian construction sector has finally swung out of its recession. Data retrieved from the Nigerian Bureau of Statistics (NBS) shows that the sector only just made it out of negative territory, growing 0.15% in the first quarter of 2017. The NBS defines the construction sector […]


Cluttons LLP to close Nigeria office as part of Corporate Restructure

Cluttons LLP plans to wind down its business in Nigeria as the company seeks to restructure and position for future growth. Turnaround firm RCapital bought Cluttons out of a pre-packaged administration earlier this month, as the company came under significant pressure because the weight of its defined benefit pension obligations became “unsupportable in the long-term”. Cluttons officially opened its Nigeria […]


Update: Nigeria Plans to Replace 41 ‘Banned Items’ with Trade Policy Driven Restrictions

According to the Vice President Yemi Osinbajo, Nigeria is currently working on replacing the 41 items not valid for foreign exchange with more trade policy-driven restrictions. In mid-2015, the Central Bank closed the interbank FX window to 41 items to reduce pressure on the depreciating Naira. In a speech delivered earlier this week by Osinbajo […]


Standard Chartered Bank Releases Prime Space from Nigeria HQ

Standard Chartered Bank, owner of a Prime Grade 15 floor office tower in Victoria Island, Lagos, is among the major corporate occupiers including banks and FMCGs that are seeking more efficient ways to maximise the potential of their space in a region with one of Africa’s highest occupancy costs. The tower, which serves as their HQ, was finished […]


Mixta Real Estate PLC to List First Real Estate Bond on FMDQ OTC Exchange

Last month, the Board Listings, Markets and Technology Committee of FMDQ OTC Securities Exchange approved the listing of the Mixta Real Estate PLC ₦4.50bn Series One 5-Year 17.00% Fixed Rate Senior Guaranteed Bond (the Mixta Bond) under a ₦30.00bn Medium Term Note Programme. Mixta Real Estate PLC, a real estate developer, providing advisory services, and […]


Lagos Falls on EIU Worldwide (USD$) Cost of Living Survey as Naira Depreciates

Lagos fell 16 places to #132 (of 140) in the Economist Intelligence Unit’s 2017 Worldwide Cost of Living Survey as the fall in global oil prices drove a collapse in the value of the Nigerian Naira. This pushed down relative pricing, despite strong local inflation. Nigeria’s largest city was published alongside other cities at the bottom of the […]


IFC Mulls $8.2m Investment in Nigerian Hospital Project Sponsored by AXA Mansard

The IFC, a member of the World Bank Group, is considering a USD $8.2m equity investment for a 20% equity stake in a hospital project in Lagos, Nigeria sponsored by AXA Mansard Insurance. The hospital will be built on a 20,000m2 land purchased by AXA Mansard in Ikate Elegushi, Lekki along the Lekki/Epe Expressway, which was a portion […]


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