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New Deal Could Combine DTZ with Cushman & Wakefield

TPG Capital, a private investment company is close to a $2 billion acquisition of global real estate service firm Cushman and Wakefield (C&W) from its owners Exor, as Bloomberg reported last week. This deal could mean the combination of C&W, the largest privately held real estate company globally with DTZ, a top three global commercial real estate services […]

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Q1 Update for Nigerian Real Estate and Construction Stocks

Stocks in the real estate and construction sector of the Nigerian Stock Exchange experienced a poor start to 2015, returning -11.82% to shareholders over the 1st quarter. Julius Berger and Costain were responsible for all the negative returns seen as they fell -16.44% and -24.08% respectively. The marginal gain of 1.3% from the UAC Property Development Company along with the flat performance […]

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Where Is HMK REIT?

When the Haldane McCall REIT (HMK REIT) was announced in December 2014, it served as an interesting addition to the Nigerian REIT universe. Offering 2,600,000,000 units at N5.15 each, it would have been valued at N13.39b making it the 2nd largest Nigerian REIT after UPDC. However, the timetable set out in the prospectus, which stipulated that the REIT […]

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SEC Nigeria is preparing capital markets for an era of securitization

SEC Nigeria is laying the fundamental groundwork to begin an era of securatization in Nigerian capital markets. The new rules, shown in a circular released on the 7th of April were created to allow for the process of transforming an asset or a group of assets into securities through financial engineering. These rules also provided the definition of terms, the structure, […]

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Agbaje or Ambode – Who’s Better For Real Estate in Lagos?

With less than a week left till Lagos’ hotly contended elections between Jimi Agbaje of PDP and Akinwumni Ambode of APC, we would like to embark on a fact presenting exercise to see which candidate may be better for Lagos’ real estate sector based on what was presented in their manifestos and more. Both Manifesto’s […]

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Dangote and Saipem to Enter Construction Joint Venture

In a statement released last week, Saipem and the Dangote Group announced they would be entering into a joint venture to create a new company named Saipem Dangote E&C (Engineering and Construction). The JV is intended to be a significant new player in the Nigerian and Central/West African market, aiming to secure complex Engineering & Construction projects and ensuring […]

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Luanda has Africa’s Most Expensive Real Estate Market

New analysis from Knight Frank has shown that Luanda is Africa’s most expensive real estate market. The Africa Prime Rent Ranking, a component of Knight Frank’s 2015 Africa Report took a weighted average of rents across 35 African cities in the office, retail, industrial and residential sector. The resultant analysis puts Angola’s capital – Luanda on top, with Nigeria’s […]

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What a Buhari win means for Nigeria’s economy

On the eve of the election of General Muhammadu Bahuri as the next President of Federal Republic of Nigeria, Yvonne Mhango, the Sub-Saharan Africa Economist at Renaissance Capital published an analysis of what his appointment could mean for the country on How We Made It In Africa. It touches on implications to the macro economy, potential challenges that may be faced, […]

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Nigeria Sovereign Investment Authority 2014 Annual Result

On Friday, the Nigeria Sovereign Investment Authority released their annual result for the Year ending 31st December 2014. The results showed that the Authority’s Total Assets grew by 8% and Net Income rose from N505.7m to N13.9b. In October last year, NSIA CEO Uche Orji explained that its investment programme in the six months that followed would go ahead, even as […]

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Landlords Asking For Rent in Dollars Threatened by CBN Governor

The Central Bank of Nigeria is clamping down on landlords asking for rent and school fees in dollars. At the end of the MPC meeting in Abuja yesterday, Godwin Emefiele the Central Bank Governor said steps must be taken to prevent the dollar dominating the country’s economy. Premiumtimes reported yesterday that Emefiele said: “The official currency for doing business […]

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