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Nigerian President to Commission New African Development Bank Abuja Office

The Nigeria Country Department (RDNG) office complex, owned by the African Development Bank (AFDB) will be commissioned by Nigeria’s President Buhari on Thursday, January 18, 2018. The complex has a built-up area of 4,200m2 and is situated within the Central Business District of Abuja in close proximity to the NEXIM Bank. It is the first permanent structure […]

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Construction Begins at J.K Randle Centre for Yoruba Culture and History in Onikan

Lagos State Governor, Akinwumi Amobode, performed the ground-breaking ceremony for the J.K Randle Centre for Yoruba Culture and History in Onikan, Lagos on Wednesday. The project is part of a wider initiative to transform the Onikan-Marina axis into a world class tourism hub. Speaking at the ceremony, he explained that the centre, originally built in […]

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Cluttons in Nigeria transitions to International Real Estate Partners (IREP)

Cluttons International Ltd (IL) during a press conference held on November 27th 2017 in Lagos, Nigeria, announced that it officially became International Real Estate Partners (IREP), a client advisory company capable of providing real estate advisory, broking, design and management services to clients across the globe. Cluttons LLP, the international real estate services company which […]

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IFC Commits $8.5m in Hospital Project Sponsored by AXA Mansard

The IFC, a member of the World Bank Group, has committed an equity investment of $8.5 million in Santa Clara Africa Limited, a company created to develop a 150-bed hospital and two 10-bed clinics in Lagos, Nigeria. It is promoted by AXA Mansard Plc, the Nigerian subsidiary of AXA Group, who provided equity to the project alongside […]

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African Capital Alliance and Cornerstone Insurance Top out New Office Development

African Capital Alliance and Cornerstone Insurance hosted the topping out ceremony for the Cornerstone Headquarter development in Oniru earlier today. The ceremony marked the completion of major external works on the 12 floor office development, and representatives from the members of the project team were all present. The building has ±12,000sqm of lettable office space […]

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Nigeria’s Overall GDP Stronger in Q3:2017 but Real Estate and Construction Continue to Decline

Nigeria’s Gross Domestic Product (GDP) grew by 1.40% in Q3:2017 (year-on-year) in real terms according to data published by the Nigerian Bureau of Statistics. This stands as the second consecutive positive growth since the emergence of the economy from recession in Q2 2017, where GDP grew 0.77% (revised). Unfortunately, growth in the construction and real […]

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Can you help us answer a few questions?

We are currently gathering information on attitudes to purchasing luxury residential property in Lagos, Nigeria. Can you help by filling in this brief 10 question survey and let us know what your preferences and thoughts are, even if you are not in the market to purchase one. You can take the survey by clicking this link.

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API Events Press Release: The next chapter for West African real estate

The Nigerian real estate sector is turning the corner as the country’s economy appears to be emerging from recession. The easing of inflationary pressure, improved investment inflows, increased oil production and an improvement of foreign exchange liquidity, have all contributed to a positive growth outlook for the country. Nigeria has faced strong headwinds in the […]

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Qz: Nigeria’s retail boom might be over before it started unless investors bring malls closer to people

Over the past decade, large American-style malls have become a more regular feature in Nigeria’s largest cities. Investors have been attracted by the promise of Nigeria’s large population and growing middle class, and looked to snag some of the pie for themselves. When the first malls opened in 2004, Nigeria was on the cusp of […]

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Nigeria’s GDP Grows but Real Estate Service and Construction Sectors Contract

After 5 consecutive quarters of negative growth, Nigeria has emerged out of recession with a growth rate of 0.55% during Q2:2017, less than 1% higher than the -0.91% noted in the first quarter. The recovery was largely driven by an increase in oil production which came in at ~1.8million barrels per day during Q2:2017 and […]

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