As virtual office demand rises, outlook for commercial properties remains bleak

Notwithstanding permutations by some industry gurus that the sector will perform better this year, the outlook for the commercial properties still remains bleak. The economic environment has remained low, operating at far below par, according to the estate firm, Messrs Ubosi Eleh and Company in its 110-page special annual publication titled: ‘The Nigeria Real Estate Report.’ “It will require much more than optimism to impact and cause rents to rise, or even translate to higher demand for office space,” the documents revealed.

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Preparing to take AfCFTA by storm

AFTER a prolonged period of indecisiveness, Nigeria has eventually taken the bold step to sign up to the African Continental Free Trade Area agreement, a step perceived as capable of redefining the economic trajectory of the continent’s most dominant economy. There is no doubt that Nigeria is joining the grouping reluctantly. But, having risen up to the bait by inking the deal more than a year after other African countries gathered in Kigali, Rwanda, to sign the agreement, it is now left for the country to make the best out of it.

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US unveils new initiative to grasp Africa’s huge commercial potential

The United States of America has unveiled an initiative called ‘Prosper Africa’ through which it aims to substantially increase two-way trade and investment with Africa. This ambitious initiative, which aligns with the Trump administration’s Africa strategy, was unveiled in Windhoek on Friday by US Ambassador Lisa Johnson, and counters US investment flows that have in recent years remained relatively flat compared to countries like China, India and France.

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Residential, commercial opportunities seen in Nigeria’s wasting public assets

The level of waste and under-utilisation arising from federal government’s abandoned public assets sitting on prime land in the country have become too glaring to be overlooked by many Nigerians especially real estate industry observers. At a time when the government struggles to address huge housing deficit estimated officially at 17 million units, some federal …

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Actis acquires management rights to two Abraaj funds

Private equity firm Actis has acquired the rights to manage two private equity funds previously managed by Abraaj, the firm announced on Monday. In a statement, Actis said it will take over the management rights to Abraaj Private Equity Fund IV and Abraaj Africa fund III.

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More than 9 million Nigerians lack affordable housing – FMBN

The Federal Mortgage Bank of Nigeria, FMBN, has said that more than nine million Nigerians lacked affordable housing. The branch Manager, FMBN, Enugu, Mr Emeka Aroh, made the disclosure on Friday in Enugu at a one day seminar organised by a private company, Light Hill Housing Cooperative for multipurpose cooperative societies in the South-East.

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Osinbajo inaugurates 650 housing units project in Delta

Vice President Yemi Osinbajo, on Friday, inaugurated 650 affordable housing units comprising 192 one-bedroom, 230 two-bedroom semi-detached terrace and 228 three-bedroom bungalows near Asaba. The VP accompanied by Gov. Ifeanyi Okowa had earlier visited the Asagba of Asaba, Prof. Chicken Edozie.

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Ogun moves to partner FMBN, NHF for provision of mass, low-cost housing

As part of iconic celebration of 100 days in office of Dapo Abiodun as Governor of Ogun state scheduled for September this year, the Ogun state government is putting up arrangement to construct low-cost housing for public and civil servants as well as interested residents in all the three senatorial districts of then state. Consequently, […]

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