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Nigeria did not mortgage property for China loan – Amaechi

The Minister of Transportation, Mr Rotimi Amaechi said on Monday that the Nigerian government did not mortgage any property to secure infrastructural loans from China. Amaechi made the clarification at the 6th Annual East African Transport Infrastructure conference held in Nairobi, Kenya.

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Growing the mortgage system through sustainable models

Globally, especially in advanced economies, mortgage and homeownership have chicken and egg relationship with mortgage being the surest and most convenient route to homeownership. But mortgage has not been a success story in Nigeria despite the country’s huge population which should have been a growth catalyst.

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Infinity Trust Mortgage Bank Plc: Increased interest income underpins profit

Nigerian mortgage and real estate industry is beset with a myriad of challenges that makes it practically difficult to bridge the 17 million housing deficit. While the introduction of the Importers’ and Exporters’ Windows by the central bank and a rebound in crude oil price helped the country exist its first recession in 25 years, […]

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Equity finance tops funding sources for real estate projects, here’s why

A huge number of real estate firms get funding from equity sources than debt to execute projects owing to risk-averse attitude and cautious stance of Nigeria’s financial institutions, BusinessDay findings have shown, meaning that debt financing is hard to come by. According to industry sources, real estate firms rarely utilize debt finance as financial institutions, […]

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Formal retail industry has potential to employ millions of youths, –Omisore

Chief Tokunbo Omisore, CEO of Topservices Limited, has participated in the development of  several malls in Lagos, Ibadan, and other parts of the country.In this interview, he explains that organised retail trade has potential to solve Nigeria’s rising unemployment challenge. This, according to him, will only happen if government and banks provide the right kind of funding […]

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Calgro M3 CEO Wikus Lategan on the cost of land invasions

Calgro M3 reported its full results for the year ended 28 Feb 2019. The property company struggled to keep profits and earning up in 2018 and has declared that shareholder will not earn a dividend this year. Calgro M3 CEO, Wikus Lategan joins CNBC Africa to unpack the numbers.

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Lagos-Ibadan rail 70% completed – FG

Two years and two months after the ground-breaking ceremony of the $1.5bn Lagos-Ibadan standard gauge rail project, the Federal Government at the weekend, declared the project 70 per cent completed from Ebutte-Metta, Lagos, to Ibadan, Oyo State.

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₦5trn AMCON Debt: FG plans to go after debtors

In a bid to recover the outstanding N5 trillion debt, the Vice President, Prof. Yemi Osinbajo, at the weekend, hinted that the Federal Government would deal decisively with individuals and organisations that made the list of high-profile obligors of Asset Management Corporation of Nigeria (AMCON). He said they have made it impossible for the corporation […]

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Developers showcase materials for housing sector

The umbrella body for property developers – Real Estate Developers Association of Nigeria (REDAN) has approved some building materials for the construction of houses in the country.The materials were showcased at the launch of the National Real Estate Data as part of the association’s commitment to grow the industry.

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Propertymart commits to Citiview housing estate, others

One of Nigeria’s leading real estate companies, Propertymart Real Estate Investment Limited, has assured prospective homeowners on timely delivery of houses in Citiview Estate, Arepo in Ogun State and other projects across the country. Senior officials of the firm, who gave the assurance to investors, disclosed that on-going housing units would be completed and handed […]

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