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Transcorp plans to invest US$110 million in the Lagos hotel market

Transnational Corporation of Nigeria Plc (Transcorp) is developing a Lagos hotel, to be managed and branded by Hilton, the U.S.-based hotel operator, who also operate Transcorp’s Abuja hotel.  The planned hotel will be located on Glover Road, Ikoyi and will offer 350 rooms, conference and meeting facilities, fitness center and a swimming pool. Transcorp disclosed to Reuters that the […]

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Why are REITs good investment instruments?

REITs avoid a big chunk of corporate taxes by paying out most of its income through dividends. In return, REITs have their own tax rules which are passed down to you (dividends are taxed as ordinary income). Taxes aside, the great REIT performance boils down to investor behavior, changing tides, and FED influence (For the US): REITs […]

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‘Asset Class Table’ Shows Impressive REIT Performance

Source: NovelInvestor.com This is relevant to the US.  

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Gherkin put on the market for £650m – Who’s Interested?

The Gherkin, formally known as 30 St. Mary Axe in the City of London has been put up for sale by joint receivers Deloitte Real Estate and Savills, and they are hoping for offers in excess of £650m. According to the Financial Times, it is thought to have a market value of at least £650m, and was bought […]

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Nigeria Seen by McKinsey in World’s Top 20 Economies by 2030

Nigeria has the potential to be one of the world’s top 20 economies by 2030 with a consumer base exceeding the current populations of France and Germany, according to McKinsey & Co. Africa’s biggest economy may expand about 7.1 percent a year through 2030, boosting gross domestic product to $1.6 trillion, possibly pushing it above […]

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A Spur of Completions

The development pipeline for prime grade property in Lagos has been growing at an unrelenting pace recently. Across the city, boards showcasing future skyscrapers with the background of a busy construction site are becoming typical. Many of the new developments which are located in Ikoyi and Victoria Island (of course) are nearing completion and it appears many of them will be delivered […]

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Lagos is 25th Most Expensive City for Expats

New analysis from Mercer has revealed that Lagos is now ranked 25th in the most expensive cities for expats. Africa’s mega-city has moved up 11 places from it’s previous position at #36. The survey covers 211 cities across five continents and measures the comparative cost of over 200 items in each location, including housing, transportation, […]

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Why Is the Nigerian Government Building Two High-End Office Towers?

When it comes to debt, the Nigerian government has a boat load. It is more in hock than any other African country. But that’s not stopping it from doing a little shopping for some high-end real estate. The lucky occupant for the lavish new digs? Nigeria’s Debt Management Office, which oversees the country’s $65 billion […]

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5.27% of Total Pensions Assets invested in Real Estate

According to the Nigerian National Pension Commission,  5.27% of total pension fund assets were in real estate properties in May 2014. Asset Holding Total FGN Securities  (FBN Bonds and Treasury Bills) 59.86% Domestic Ordinary Shares 14.21% Local Money Market securities 11.46% Real Estate Properties 5.27% Corporate Debt Securities 1.82% Foreign Ordinary Shares 1.27% Other 6.11% Source: […]

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NSIA Annual Report – The Real Estate Roundup

The Nigerian Sovereign Investment Authority (NSIA), managers of our country’s Sovereign Wealth Fund released their pioneer annual report last week. While Uche Orji (MD/CEO) was quick to point out that they had experienced a drag on performance due to significant uninvested cash, it’s interesting to see that the NSIA is keen on a larger scale of real estate investment moving […]

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