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Development: Ramada Plaza Business Hotel, Lekki – Lagos

Name: Ramada Hotel Developer: Kunech Investments Limited Use: Hotel Rooms/Keys: 170+ Location: Ikota – Lekki Epe Express Way Expected Completion: Late 2015 In December 2013, the Hospitality Division of Kunech Investments signed a franchise agreement for their new hotel project on the Lekki-Epe Expressway. The project, called the Ramada Plaza Business Hotel is expected to be a 4 […]

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Lagos keeps getting more expensive for Expats

New analysis from Mercer has indicated that Lagos is the 20th most expensive city for expats globally. Results from the 2015 Cost of Living Rankings showed that Lagos moved up 5 places from its 25th position in 2014, and 11 places from its 36th position in 2013. Abuja was also on the list at #35, having moved up 1 place when compared to 2014. […]

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Ranked: The Top Contractors Changing Lagos’ Office Skyline [Infographic]

The amount of office space under construction continues to grow as developers increasingly make bets that the requirements for prime office space in Lagos will rise. Some of the contractors/construction companies helping these developers build their assets have emerged as market leaders and this infographic seeks to illustrate this. Based on available data collected, this infographic ranks the contractors changing […]

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Lagos State & Rendeavour enter Joint Venture for Mixed Use Project

Rendeavour, an African urban land developer, has signed a joint venture agreement with the Lagos State Government and Lekki Worldwide Investments Limited for a mixed-use land development within the Lekki Free Trade Zone. The multi-billion Naira project is said to include the development of world-class infrastructure while creating thousands of jobs. The firm’s development formula involves working with local developers, […]

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Lamudi’s Insight into Residential Real Estate in Lagos

Lamudi recently released their flagship barometer for Lagos’ residential real estate market. It provides new insight into preferences of prospective home buyers/renters as well as rental and sale values for various locations across Lagos. One interesting finding from the report is large disparity between what is in demand and what is being supplied. The report shows that 58% of people […]

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South African Investor Acquires 37.1% in The Wings Office Towers

Earlier this month, a South African property investment and development company named Pivotal entered into an MOU to acquire a 37.1% shareholding in the $104 Wings Towers office development in Victoria Island, Lagos. Pivotal will join Oando and RMB Westport as a new joint venture partner for this development, which intends to bring in 27,000 sq. […]

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Prime Office Completions in Ikoyi

As the first half 2015 begins to elapse, landmark office developments in Ikoyi including the BAT Rising Sun, Heritage Place (15,600sqm) and Temple Tower (15,000sqm) are slowly nearing completion. Last week, Heritage Place conducted its topping out ceremony with the Commissioner of Physical Planning marking a significant milestone and the obvious drive to fully clad and complete the building […]

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Momentum raises $50m for African Real Estate Fund

Earlier this year, Momentum GIM, in conjunction with Eris Property Group successfully closed the first tranche of its African Real Estate Fund with $50 million of institutional, family office and HNW investor capital. The fund intends to focus on the development of retail, commercial and light industrial real estate in sub Saharan Africa ex South Africa, offering […]

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Analysis of Parking Provision in Lagos’ Office Buildings

Over the past decade, workers and commuters in Lagos have generally become accustomed to the inherent problems that come with inadequate parking facilities. Double parking and extortion-like car parking fees are just a few of many routine practices for car owners across the city. However with over 100,000sqm of prime purpose built office space expected […]

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TPG-backed DTZ buys Cushman & Wakefield for $2bn

In a deal that will change the global real estate service landscape, DTZ, backed by TPG capital will acquire Cushman & Wakefield (C&W) for $2bn. The definitive agreement to merge the two companies will see them operate under the Cushman & Wakefield brand and serve as tough competition for the top two real estate service providers globally – JLL and CBRE. In […]

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