Property Insights
Lagos Industrial and Infrastructure Investments: Impact on the real estate market
Huge investments propel Lagos real estate growth In the early 2010s, between 2010 – 2013, Lagos hit the trillion-naira mark in revenues and rose by over 145% a decade later. The State’s investments and partnerships in transportation infrastructure and real estate projects have contributed to its earnings and earning potential. Some of the State’s [...]
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Dangote Refinery: Its Impact on the real estate market in Ibeju-Lekki and environs
The turning of the first sod for the newly commissioned Dangote Refinery occurred in April 2016. With 65 million cubic metres of sand dredged at over $300M, the $19Bn refinery sits on a land size of approximately 2,635 hectares (7 times the size of Victoria Island, Lagos). Dubbed to meet 100% of Nigeria’s demand for [...]
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Impact of fuel subsidy removal on Nigeria’s real estate market
In 1977, the Federal Government of Nigeria introduced a fuel subsidy scheme designed to cushion the effects of the rising price of premium motor spirit (PMS) products at the time. Over the years, the plan has been characterised by little or no accountability that resulted in massive leakages. What began as a people-oriented support [...]
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Financing Housing to Achieve Scale (40th Anniversary Commemorative Conference)
Moderator: Ayo Ibaru, COO / Director, Research - Northcourt Real Estate. Speakers: Femi Adewole, Lead Consultant, Urban Economics International; Tola Akinhanmi, Head, Real Estate Finance - Stanbic IBTC; Maurice Okoli, CIO, Housing Solutions Fund; Oguche Aguda, CEO, PENOP. Over the years, the Nigerian housing market has struggled to meet the growing need for shelter. The [...]
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Technology & Housing (40th Anniversary Commemorative Conference)
Moderator: Roland Igbinoba, President, Proptech Nigeria. Speakers: Dolapo Omidire, CEO / Founder, Estate Intel; Fola Ogunsiakan, Group CEO/Co-Founder, Wondo Technologies Mauritius; John Oamen, CEO / Co-Founder Cutstruct Technologies. The global proptech industry is projected to reach $30Bn by the end of 2023. The use of construction technology in the provision of housing units has been [...]
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Enhancing Housing Supply (40th Anniversary Commemorative Conference)
Moderator: Ayo Ibaru, COO / Director, Research - Northcourt Real Estate. Speakers: Mr. Gboyega Fatimilehin, Founding Partner, Diya, Fatimilehin & Co; Olaide Agboola, CEO/Co-Founder, Purple; Hakeem Ogunniran, Founder / CEO, Eximia Realty Co Ltd. Following the establishment of housing institutions in Nigeria, several attempts have been made at increasing the housing supply across various parts [...]
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Keynote Address (40th Anniversary Commemorative Conference)
Speaker: Kokularupan Narayanasamy, International Housing Consultant. With a vulnerable low-income group in the mid-90s, the Malaysian government embarked on a low-cost housing provision scheme setting up quotas for developers, which required them to allocate a certain percentage for low-cost houses. The government established a fixed pricing strategy forcing developers to adopt cross-subsidization on their projects. [...]
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Lagos Infrastructure Updates
Infrastructure provision is a focal point in fulfilling the 'Greater Lagos' mandate and promoting a greener future as the Lagos State government continues to splurge on an infrastructure overhaul and upgrade. Under the Traffic Management and Transportation pillar of the Lagos State strategic development agenda established 4 years ago, infrastructure provision is a focal point [...]
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Cash Crunch: The effects on Nigeria’s real estate market
Nigeria’s economic strength is tested as citizens and businesses grapple with the negative impacts of the current cash crunch The Central Bank of Nigeria (CBN) recently embarked on several policy reviews to tame the rising inflation and protect the Naira. The reviews include: Raising the monetary policy rate (MPR). Launching the Naira4Dollar scheme. Adopting the [...]
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ASUU strike and how the student housing market has performed
Nigeria's education sector is grossly underfunded, and infrastructural development to match the growing enrolment in tertiary institutions is a casualty of this underfunded state of affairs in public universities. An estimated 74% of the global youth population will reside in Nigeria and nine other countries by 2035 (2021 World Bank Report), and Nigeria's youthfulness currently [...]
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Bridging the housing deficit in Lagos through PPP
The need for mass housing to meet rising demand, particularly from the growing younger demography, cannot be overstated. With its teeming population and daily influx of people, Lagos State accounts for a significant portion of Nigeria's estimated 17 million housing deficit. The need for mass housing to meet rising demand, particularly from the growing younger [...]
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Nigeria’s blossoming proptech industry
The impact of Nigeria’s blossoming proptech industry is gradually being felt in the larger real estate sector The impact of Nigeria’s blossoming proptech industry is gradually being felt in the larger real estate sector as technology increasingly informs end-to-end decisions on property development and management. In many respects, technology adoption in real estate has lagged [...]
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