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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 […]


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 […]


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 […]


2014 Performance of Construction/Real Estate Equities

In 2014, downward spiraling oil prices, volatile currency markets and insurgency overshadowed Nigeria being named Africa’s largest economy. As foreign investors exited and bears dominated the investment landscape, the performance of core asset classes was abysmal. Equity markets were initially on course to produce ±-20% at year end, however a slight rebound in the last weeks of December allowed […]


Nigerian Real Estate Market: 2014 Overview and 2015 Outlook

A recently published report by Northcourt Real Estate outlines the performance of core asset classes in the Nigerian investment landscape, with a special focus on real estate. It was noted that despite the dismal performance of other asset classes in 2014, activity in the real estate sector remained robust. As Lagos is the commercial capital of the Nigeria, […]


Research Note: Analysis of Nigeria’s Newest REIT

Here’s a short research note with a few thoughts on the new REIT, Haldane McCall Real Estate Investment Trust. Haldane McCall owns The Suru Group, a private limited company focused mainly on residential developments and the hospitality sector in Lagos. They have already commenced an initial public offering, which will be closing on the 14th of January next year. IPO Background & Strategy They are […]


New Nigerian REIT commences IPO

Haldane McCall Real Estate Investment Trust (HMK REIT) have begun an Initial Public Offering (IPO), which will close on January 14th, 2015. Haldane McCall owns The Suru Group, a private limited company focused mainly on residential developments and the hospitality sector. They are behind the Best Western Hotel Brand in Ikeja and other low-mid market hotels. They are […]


Dubai’s ‘The Address Hotels + Resorts’ comes to Abuja

As part of a global expansion drive, The Address Hotels + Resorts has been actively seeking new and exciting projects across the globe. One of the flagship African locations for this 6-year-old luxury hotel chain will be in Abuja, within the new Centenary City. The Address, Abuja will offer a combination of residential and hotel spaces […]


Exploring Nigeria’s Q3 Real Estate Performance

A report by Broll Property Services on the performance of the Nigerian real estate market in the third quarter of 2014, quotes the director of the IMF African Department as downplaying fears and assuring investors and stakeholders that the real estate market outlook still appeared ‘robust’ especially because some 50 percent of GDP was now […]


AXA Completes Acquisition of Mansard Insurance Majority Stake

AXA announced on the 8th of November that it had completed the acquisition of 100% of Assur Africa Holdings, which holds a 77% stake in the composite insurance company Mansard Insurance plc, for a total consideration of €198 million ($245m). Through the acquisition of a majority stake in Mansard Insurance plc, AXA would further strengthen […]


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