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The George Hotel, By Mantis – Lugard Avenue, Ikoyi

Mantis, a collection of privately owned boutique hotels and properties around the world, is adding Lagos to its portfolio.  The hotel company currently operates Villa Monticello, a highly-rated boutique hotel in Accra, Ghana. Named ‘The George’, the 62-room hotel will be a significant addition to the supply of hotels in Lagos, particularly Ikoyi, which has seen […]

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Development: Accra Financial Center, Accra – Ghana

Name: Accra Financial Center Location: Downtown Accra Use: Mixed Use (Office and Retail) Size: Office – 13,700sqm. Retail – 314sqm Developer: RMB Westport Parking: 369 bays Anchor Tenant (Office): Agricultural Development Bank The Accra Financial Center is a mixed use development in downtown Accra that will be anchored by the Agricultural Development Bank. It is RMB Westport’s […]

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Africa’s Real Estate Investment Trust (REIT) Industry – Nigeria in Focus

Interest in the Nigerian REIT sector has grown significantly in recent months, the infographic below is our take on the African REIT sector with a focus on Nigeria.

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Radisson Blu Lagos closed for renovations

The owners of the Radisson Blu Lagos, Anchorage Leisure Limited, have issued a statement expressing the need for an extensive renovation of its facilities, and stating that this planned renovation necessitated the temporary closure of the hotel.  The renovation will cover work on its power generation and cooling systems, as well as other critical facilities […]

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New Legislation To Ease Land Registration Process

In another effort to ease the land registration process, a draft bill has been created by Governor Fashola to consolidate all land registration related laws into one legislative document. This comes just weeks after an Executive Order reduced land transaction fees in Lagos from 13% to 3%. Investors and market players have long called for change to the excessively bureaucratic land registration […]

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Spotlight on Private Equity and Real Estate in Nigeria

Africa focused Private Equity (PE) has developed impressively over the last two decades, in terms of volume, quality of transactions, and performance. According to a joint research paper by the African Private Equity and Venture Capital Association and Ernst & Young, Africa’s PE strategic and operational improvement measures have returned 0.6x more than the MSCI Emerging Markets […]

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Development: International Commercial Center, Centenary City – Abuja

Name: International Commercial Center (ICC) Location: Centenary City, Abuja Use: Office and Retail Office: 120,000sqm in 6 Office Buildings (100,000sqm GLA) Retail and Community Space: 20,000sqm Floors: Varied. 1 – 14 floor range across all buildings The International Commercial Center is a large office development with mixed use elements set in the Centenary City. It  is set […]

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Land Transaction Fees Reduced by 77%

By an executive order, Lagos State Governor – Babatunde Fashola has reduced land transaction fees by 77%. The order signed on the 5th of January 2015 is effective immediately and reduces fees from 13% to 3%. The order explained that the Lagos State Government (LASG) is committed to improving the ease of doing business and minimizing transaction […]

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Shareholders of Ikeja Hotels Plc remove Chairman

In an extraordinary general meeting held on Tuesday, January 5th 2015, shareholders of Ikeja Hotels Plc (IKEJAHOT:NL) voted to remove the chairman, Goodie Ibru.  The listed company, which owns Sheraton Ikeja, is a core investor in Capital Hotel Plc (owners of the Sheraton Abuja), and is a major shareholder of Tourist Company of Nigeria (owners of […]

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Nigeria Edging Closer to Smarter Buildings

Fascination and interest in smart and automated building technology has grown exponentially over the past decade. This technology typically refers to buildings with automatic centralised controls of lighting, heating, ventilation, air conditioning, security as well as those that have energy and waste saving capabilities. As Jones Lang LaSalle explains, the promise of smart building technology extends […]

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