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Developer targets 720 apartments in Ongata Rongai

Realtor King’s Developers Ltd, an affiliate of Royal Group of Companies, is putting up 720 residential apartments in Ongata Rongai, Kajiado County.

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Redefine exits the UK to focus on local and East European assets

Redefine Properties, SA’s second-largest listed property company, is selling its stake in UK fund RDI Reit for R2.3bn to focus on its local and Eastern European investments.

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Rebosis to sell assets to reduce debt

Sisa Ngebulana, founder and CEO of Rebosis Property Fund, says his company plans to sell assets to help trim its almost R10bn debt load. Rebosis’s loan-to-value (LTV), which measures the ratio of loans to the value of assets, has rocketed to more than 71%, from 49.4% at the end of November 2018. Fund managers tend […]

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Lagos reiterates need to meet housing demand, tackle deficit with reforms

No doubt, Lagos State has a huge and increasing demand for housing as a result of over 20 million people with an estimated 86 people migrating to the state per hour, who have made Lagos their home.

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Surveyors seek succour for real estate industry

The new president of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Emma Okas Wike, has urged the Federal Government to set aside an intervention fund for the real estate industry to mitigate the impact of the COVID-19 pandemic on the economy and practitioners.

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Demand, property values may drop in flood-prone cities

As Nigerian cities see an increase in rainfall, experts have predicted that demand and property values in areas prone to flooding may drop up to five to 10 per cent.

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How multiple taxation stifles real estate sector

Stakeholders in the real estate sector said the threat posed by multiple taxations to property development, consultancy and administration is huge and required urgent action because it is stifling investment in the sector.

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Transcorp Hotels gets shareholders’ approval to raise N9.9bn via Rights Issue

At an Extraordinary General Meeting (EGM) of the members of Transcorp Hotels Plc held on Monday, June 29, 2020 in Lagos, the shareholders considered and thought fit the approval for the Board of Directors to issue up to 2,659,574,468 ordinary shares of 50 kobo each from the Company’s unissued share capital by way of Rights […]

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Arbico posts highest first quarterly profit in 5 years on revenue surge

Arbico’s profit for the first three months of 2020 hit the most in the comparable period since 2015 at least, more than 5,000 percent increase thanks to impressive revenues figures recorded in the quarter.

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Permanent remote work gets boost as Microsoft close retail shops worldwide

Microsoft has closed down its physical store locations across the world permanently, a sign that remote work is gaining attraction from big companies as the next frontier for the future of work. With the announcement, Microsoft’s two retail shops in Nigeria and elsewhere in the world will be shut down.

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