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ei Real Estate Maps

ei is pleased to introduce the new Real Estate Maps tool. Data from our office and retail development pipeline posts have been collated to create an interactive map that displays ongoing and completed real estate projects in Nigeria. The image below shows an example of how the new tool works. It can be accessed here. For desktop users, the […]

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Nigeria’s 2016 Budget Breakdown by BudgIT

Key Takeaways The highest Capital Expenditure component of the 2016 budget will be Works, Power and Housing at N433.4bn. This budget is the highest budget ever presented by the Federal Government of Nigeria at N6.08tr. Oil revenue projections tumble from N1.64tr in 2015 to N820bn in 2016. The Federal Government intends to raise N900bn from foreign […]

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Nigeria Mortgage Refinance Company Shares Approved for Trading on NASD OTC

The securities of Nigeria Mortgage Refinance Company PLC (NMRC) were introduced to the NASD OTC market by Cordros Capital Limited on 27th of November, 2015. According to a statement released by the NASD, the 1.76billion shares of NMRC are trading under the Symbol code SDNMRCPLC and were entered to the board at a price of ₦4:00 per share. […]

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Nigeria’s Ikeja City Mall Sold to Hyprop and Attacq

Investors in Ikeja City Mall, Actis, RMB Westport and Paragon Holdings announced the sale of their 22,000m² retail asset to South African Real Estate Investment Trust (REIT), Hyprop and Attacq, a JSE-listed real estate capital growth fund. The sale follows Actis’ strategy, which is hinged on de-risking investments and delivering prime income producing Grade A property assets with bond like characteristics […]

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Growthpoint and Investec Asset Management Announce Pan-African Real Estate Investment Strategy

Growthpoint Properties and Investec Asset Management recently announced that they have entered into a joint venture agreement, which in partnership with IFC, will seek to establish and grow a significant diversified pan-African real estate investment business. Growthpoint Properties, Africa’s largest REIT (real estate investment trust) will invest an initial $50 million into the vehicle, with IFC also […]

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Refurbishment: Africa Re Building, Victoria Island – Lagos

A light refurbishment of the Africa Re Building on Karimu Kotun Street in Victoria Island is about to be completed. It involves cladding the building’s old exterior with grey/silver alucobond, leaving it with a more modern and contemporary finish. The refurbishment has run parallel to the larger rebranding exercise by the Africa Reinsurance Corporation on their logo and identity in a bid to renew our […]

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Lagos is an Emerging yet Lagging City in the New World of Cities

A recently published report produced by JLL on how traditional city hierarchies are being disrupted by globalisation and competition has classed Lagos as an Emerging World City. The report compares the performance of 660 cities worldwide, explaining that urban age is no longer about competitive hierarchy, command, or control; especially as data collated since the […]

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Development: Atlantic Resort (Business & Residence), Victoria Island Annex/Oniru – Lagos

Name: Atlantic Resort (Business & Resort); Location: Water Corporation Road, Victoria Island Annex/Oniru, Lagos; Site Area: 3.4 Hectares; Use: Residential (124 Apartments), Hospitality (50 Rooms) and Offices (15,588sqm) Architects: HOK Architects, ECAD Architects; Pre-Qualified Contractors: Cappa & D’alberto, Elalan, Julius Berger; Developers: Grenadines Homes; Parking: 660 bays; The Atlantic Resort is a proposed mixed use development by Grenadines Homes […]

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Gallery: The New Face of Commercial Real Estate in Lagos

The year 2015 is set to be a landmark year for the office property market in Lagos. The buildings shown in the gallery and many more are changing the face of commercial real estate by setting new standards in environmentally efficiency, architectural design, curtain walling and much more. Nestoil Tower Civic Tower Heritage Place WAPIC Insurance HQ Temple Tower

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Updated – Marriott Lagos Waterfront Hotel (Marriott Lagos, Victoria Island)

Name: Marriot Lagos, Victoria Island; Floors: 10 Floors; Keys: 200; Investor/Developer: Quantum Luxury Properties; Architects: G1 Architecture; Site Area: 5,300 sqm; Amenities: Over 1,400sqm of ball room & meeting facilities, infinity pool, spa & health club, executive lounge and a specialty restaurant. Ozumba Mbadiwe, Victoria Island will soon be christened ‘Hotel Row’, if developers have anything to do […]

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