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 to resolve its debt, thereby holding the entire nation to ransom.
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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.
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 over to them before the end of 2019.
Vice President, Prof. Yemi Osinbajo, SAN at the weekend dropped the hint 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 to resolve its outstanding N5trillion debt thereby holding the entire nation to ransom with their bad behaviour.
Real estate professionals are not smiling as usual on account of low patronage but to salvage the situation, experts say integrity and commitment to the practice would help practitioners to thrive.
A triparte agreement has been reached between Lagos State Government, Nigerian Institute of Architect (NIA), Lagos Chapter and Sterling Alternative, an arm of Sterling Bank Plc to reduce housing deficit in the commercial capital.
Under the Joint Venture deal, Lagos government is to provide land while the architects provide affordable housing design, which will be financed by Sterling Alternative Finance.
Some Nigerians in the Diaspora at the weekend called for an enabling environment to attract and secure private investments in the country’s housing sector.
They made the call at an international conference on Real Estate Investment and Mortgage Financing organised by Housing Circuit Magazine, and hosted by the Nigerian consulate in New York.
• A person earning a minimum Sh47,143 per month will be compelled to part with Sh18,857 per month to clear the facility in 15 years.
• This means the borrower will have paid a total of Sh3.4 million within the period, double the principal amount.
The director-general of the Gambia Tourist Board has issued a warning signal to all estate agents, developers and land buyers who are buying landed properties across the Tourism Development Area (TDA).
He warned that all lands sold to individuals by the estate agents across the TDA will be reverted to government in due time.
Housing Development Advocacy Network, an NGO, has urged the Central Bank of Nigeria (CBN) to make the Mortgage Interest Drawback Fund (MIDF) a reality.
Mr Festus Adebayo, President of the group, made this call on Saturday in Abuja.