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The rebirth of Falomo Shopping Plaza

During the commissioning of Afriland Towers (formerly Raymond House), the Chairman of Heirs Holdings, the parent company of Afriland Properties and Governor Sanwo Olu of Lagos State, revealed that plans to redevelop the recently terminated Falomo Shopping Centre will be revived. He also iterated that plans for the 600 room Transcorp Hotel, originally announced in […]

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Actis, Westmont Hospitality Group Acquire Sheraton Casablanca Hotel

Global emerging markets and private equity company Actis, and Westmont Hospitality Group have announced the acquisition of the 309 key Sheraton Casablanca Hotel in Casablanca, Morocco. The hotel was acquired for a total consideration of $50 million from a Moroccan Government Entity. This implies a valuation of c. $161,812 per key, much less than the […]

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Real Estate Investment Opportunities for Young Professionals

In an economy like Nigeria’s, it has become increasingly difficult for the ‘average man’, especially younger people, to get ahead financially. People tend to believe that they must have made a large amount of money before they can start investing. Many others believe that the investment space is too complicated, volatile and has a high […]

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Corona Virus and the Nigerian Real Estate Market

It’s been over 10 weeks since the first case of Corona Virus was announced in Wuhan, China and concerns around the virus have evolved from that of the health of the global population but also the health of its capital markets. The benchmark index for Hong Kong Stock Exchange has been down over 2% year-to-date, […]

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7 Office Buildings in Lagos with Occupancy Rates between 90% and 100%

In our most recently published note, we considered the poor performance seen by a handful of B Grade buildings which have been left unoccupied for over 5 years. As we mentioned, some properties, however, have been able to reach near or full occupancy despite the market turmoil. The list below highlights a handful of those […]

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5 Office Buildings that have been 100% Vacant for Over 5 Years

After the end of an eventful decade that saw over 300,000sqm of space being delivered to the Lagos Office Market, there is still a healthy statewide development pipeline of over 120,000sqm. Despite the existing supply overhang and a low take-up as shown by occupiers shuffling between A & B Grade Offices, Converted Residential Buildings and […]

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Development: NDIC Lekki Training Office Building, Lekki Phase 1 – Lagos

Project Name: Nigeria Deposit Insurance Corporation (NDIC) Lekki Training Office Building; Developer: Nigeria Deposit Insurance Corporation (NDIC); Use: Mixed-use; Location: C & I Leasing Drive, off Bisola Durosinmi Etti Drive, Lekki Phase 1, Lagos; Main Contractor: AG Ferrero and Co Limited; Structural Engineer: Ad -Team Limited; MEP Engineer: Integrated Engineering Associates; Architect: Liege Consultants; Land […]

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Development: The Oceanna, Water Corporation Drive, Oniru-Lagos.

Name: The Oceanna Towers; Location: Water Corporation Drive, Oniru; No of Towers: 4; Use: Mixed Use ( Hospitality, Office, and Residential); Developers: Grenadines Homes; Architects: Ecad Architects; Design Architects: HOK Architects (London); Contractor: Cappa and D’Alberto Plc; Structural Engineers: Morgan Omonitan & Abe Ltd; Mechanical and Electrical Engineers: CA Consultants Ltd; M.E.P Subcontractor: Lambert Electronic; […]

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Updated – Development: Admiralty Evercare Hospital, Lekki Phase 1, Lagos

Name: Admiralty Evercare Hospital; Location: Corner of Bisola Durosimi-Etti Drive and Admiralty Way; Developers/Client: Private Equity Investor; Beds: approx. 150 (Specific number unspecified); Main Contractor: Sharpoorji Pallonji Nigeria Ltd; Project Managers: Profica and Bovell Ross; Quantity Surveyors: FOAB UK Limited in association with FO.AB Partnership and O’Mahony Peel Rowney; Planning Consultants: Mepas & Prodel (Nig) Ltd; Architect: CARE […]

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Development: Escada, Lantana Road, Ring Road Westlands, Nairobi – Kenya

Name: Escada; Location: Lantana Road, Ring Road Westlands, Nairobi, Kenya; Floor: 14 floors; Use: Residential; Developer: Canaan Developers; Structural Engineer: Metrix Integrated Consultancy; Architect: Bowman Associates Architects; Service Engineers: Mechanical – (Rex consultants); Electrical Engineers: Majesty Power Technologies; Quantity Surveyor: Shaban Shamir; Legal Advisory: MMA Advocates; Development Consultants: HassConsult Limited; Expected Date of commencement: October […]

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