Nigerian cement makers showed improved efficiency in first quarter of the current year despite feeling the pangs of a slowing economy, which has grown less than 1 percent on average in the last four years. Analysis of the first quarter earnings reports of Nigerian-listed cement producers, Dangote Cement Plc, Cement Company of Northern Nigeria (CCNN)
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Julius Berger Nigeria Plc has recommended a dividend of N2.00 per 50 Kobo Ordinary share, resulting in a total gross dividend pay-out of N2.64 billion. Confirming the company’s stance at the Annual General Meeting on last Thursday, Mutiu Summonu, Chairman, Board of Directors told shareholders that the company…
Since the coming on board of President Buhari and his fellow “change agents” in the All Progressives Congress (APC) in 2015, one recurring theme in the governance debate remains the fundamental question of how to create national wealth in such a consistent and sustainable way as to rescue the entire economy from its sluggish growth.
Gateway Delta, a private real estate development company with a permanent capital structure resident in Mauritius, has bought Metroplex Shopping Mall based in Nalya, a Kampala suburb. According to a press statement sent to East African Business Week by Knight Frank Uganda, the Mauritian firm bought the shopping mall for redevelopment.
When it comes to real estate projects in Nigeria, pundits within the property space are optimistic that 2019 will experience a major boost in africa’s largest populous nation. Nigeria’s economic growth slowed in the first quarter after the oil sector, the country’s biggest foreign-exchange earner, contracted.
WeWork has announced its expansion to Cape Town, the second city for WeWork to open in South Africa; where it will welcome over 590 members. In Cape Town, WeWork will take four floors of the eleven floors at 80 Strand on a long lease agreement that includes the option to take up more space in future. It is set to open in Q4 this year.
The 2019 Nigeria Real Estate Summit and Expo is set to provide the platform for stakeholders to discuss and find lasting solutions to housing challenges in the country, the organisers have said. Over 100 leading Nigerian real estate companies and their counterparts from Ghana, South Africa, United Kingdom and UAE had indicated interest to participate, the head of the organising committee, Steve Ike, said.
Owing to other factors not limited to prolonged economic hardship and low purchasing power, landlords and tenants have been caught in the web of race for smaller apartments. Dayo Ayeyemi reports
Against the backdrop of the severe and harsh economic climate the real estate sector of the nation’s economy has found itself at least in the last three years in which business continuity is now being threatened, operators in the sector have no option than to engage in innovative thinking and actions, just as they have to diversify their revenue if they must remain in business.
Lagos is gradually assuming the status of unplanned cities, as its original master plan is rampantly being abused by government officials who flout it thereby giving way to arbitrary developments that further compound the problems of the sprawling city. This observation was made at the weekend by a concerned citizen who resides in the Lekki Phase 1, Mr. James Anifowoshe, as he lamented the arbitrary allocation of residents’ water fronts to unscrupulous individuals for sand filling as one of the off-plan moves by the state that scares investors.