|
An analysis of institutional acquisitions and disposals in real estate investment valued at $1.8 billion across Africa in the past two decades reveals that Nigeria has the largest real estate investments by country.
The country has, within this period, attracted $523 million investment into the sector, ranking ahead of Mozambique and Mauritius that were ranked second and third with $268 million and $256 million investment, respectively. What this means is that opportunities abound in the Nigerian real estate market and savvy investors are not glossing over that. The country is almost a green field for investors. The size/value of real estate opportunity in the country is estimated at $56 billion… More details through: https://businessday.ng/real-estate/article/nigeria-outshines-peers-as-largest-real-estate-investment-by-country/
0 Comments
Business Community has said that Nigeria will continue to account for the largest share of new housing units in Africa and the Middle East regions, due primarily to its large population and fast urbanisation rate. The report noted that the fastest gains were projected for Nigeria, South Africa, and Iraq, as these markets rebound from weak performances posted during the 2014-2019 period.
It further revealed that homebuilding activity in the Africa/Mideast region would continue to be driven by urban population growth, increased standards of living, and – aside from 2020, when the region will see a recession brought on by COVID-19 – healthy economic expansion. The number of existing dwellings in the Africa/Mideast region totaled 398 million units in 2019, accounting for 18 per cent of the global housing stock. The report observed that some trends are common among national housing sectors throughout the region. In the first instance, over 72 per cent of the regional housing stock consists of single-family dwellings, reflecting the large rural population, especially in sub-Saharan Africa… More details through: https://www.newtelegraphng.com/report-nigeria-takes-largest-share-in-new-african-housing-units/ West Africa is set to lead a recovery in demand for African office space in 2021, Haussmann Africa Chief Operating Officer, Maxime Chauvelot, said. According to Africa report, the West African recovery, which includes Nigeria, is broadly based across sectors and includes banking and insurance, Chauvelot says.
Business has been picking up since September after having ground to a standstill and will “definitely” be better this year than in 2020. Haussmann Africa, which builds and designs commercial interiors, is tendering for “three or four” projects in Côte d’Ivoire for which it expects results by the end of February, says Chauvelot in Abidjan. These include a tender for a Coca-Cola office of 700 square metres in Abidjan, as the US drinks giant moves to a smaller office. The Haussmann Africa is working on projects for clients like Woodside in Dakar, as well as Broll and AB InBEV in Lagos… More details through: https://www.newtelegraphng.com/report-nigeria-others-lead-in-office-demand-rebound/ targeting early-stage startups across sub-Saharan Africa, announced its investment in Nigerian rental financing startup, Kwaba. According to recent reports about 60 per cent of tenants will not be able to pay their house rents in Nigeria in the coming months due to the impact of the pandemic and its crippling effect on household income, jobs and earning powers of people in Lagos. Moreover, six out of every 10-renters will default on their rent payment or struggle to pay because they cannot pay.
Kwaba is looking to mitigate this by offering complete rental services to renters, for those in search of new apartments or those renewing their existing rent. It offers quick funds at affordable rates and renters can access further credit facilities to purchase properties… More details through: https://www.newtelegraphng.com/expansion-rental-financing-startup-benefits-from-investors-10m/ The World Bank has expressed willingness to give each state of the federation a grant of two million dollars to enable them to update their property records.
This, however, is based on the condition that benefiting states capture at least 50 per cent of properties in urban areas that have electricity connection before June 30, 2021. This was contained in a statement titled, ‘NGF holds SFTAS Peer Learning Events on GIS Deployment to Strengthen Land Administration and IGR at State Level…States that accomplish this task before June 2021 to get $2m’, signed by the Head, Media and Public Affairs of the Nigeria Governors’ Forum, Abdulrazaque Bello-Barkindo, in Abuja, on Wednesday… More details through: https://punchng.com/wbank-pledges-72m-for-states-land-administration-records/ The Federal Housing Authority on Monday commenced the first phase of the construction of 300,000 mass housing projects for low income earners across the country.
It was gathered that the N200bn housing intervention fund that was recently approved by the Central Bank of Nigeria would be deployed for the construction of the homes. The Managing Director, FHA, Senator Gbenga Ashafa, on Monday signed a Memorandum of Understanding on behalf of the government with Family Homes Funds Limited for the construction and delivery of 1,000 homes, being phase one of the 300,000-units social housing projects… More details through: https://punchng.com/fg-implements-300000-mass-housing-project-first-phase/ The Federal Government under the National Economic Sustainability Plan is to provide 300,000 low cost housing units to 1.5 million Nigerians at an estimated cost of over $1.05 billion (N400 billion). To achieve the goal government hopes to provide mortgage loan guarantees to low income earners at low interest and collateral free basis, a member of Economic Sustainability Committee disclosed Monday.
According to him, the implementation of the social housing plan is expected to kickoff next week as early sites for the housing projects have already been identified. The source which pleaded anonymity as he was not authorised to speak, said the Committee has already approved the plan to ensure that the 1, 2 and 3 bedroom units will cost as little as between N1.8million to N2million, while financial assistance would be available for Nigerians to pay the mortgage… More details through: https://www.sunnewsonline.com/fg-kicks-off-n400bn-housing-loan-scheme-for-1-5m-nigerians/ Working with the understanding that housing is the bedrock of economic development and social stability, the Lagos State government, in the past 12 months, completed and delivered 1,576 new homes in its various housing schemes across the state.
The completion of these housing schemes is one of the strong footprints of the administration of Governor Babajide Sanwo-Olu, who marked his first one year in office a couple of days ago. A sprawling commercial city with an estimated 20 million population, the most outstanding environmental challenge Lagos has is its housing deficit which is both qualitative and quantitative. The completion of these housing units means 1,576 families or households who are among an estimated three million home seekers currently in the state’s housing market will be taken out of the market in the days and months to come as they buy and take possession of these new homes… More details through: https://businessday.ng/real-estate/article/lagos-delivers-1576-homes-in-12months-seeks-partnership-with-private-investors/ For the first time since 2014 Nigeria’s grade-A office reported the largest take-up of about 20,100m² in 2019 on the back of increased demand from tech and oil & gas industries, data from Nigeria’s Office Market Viewpoint H2:2019 by Broll Nigeria shows.
While the bulk of the grade-A office space was delivered in the first half of 2019, around 45,000m² of office properties entered into the A-grade market last year. The most noteworthy of the major transactions that occurred in the year under review was the sale of the Cornerstone Tower Development (GLA of 12,040m²) in the second half of last year… More details through: https://businessday.ng/real-estate/article/nigerias-grade-a-office-records-largest-take-up-in-5years-at-20100m2-in-2019/ The total approval for the development of housing projects in Nigeria by Shelter Afrique has risen to $181m (N55.6bn at the official exchange rate of N307 to one dollar), it was learnt on Thursday.
Shelter Afrique is a pan-African institution that supports housing and urban development in Africa.It works in partnership with 44 African governments, the African Development Bank and the Africa Reinsurance Company. Nigeria is the second largest sovereign shareholder of the institution with 10.71 per cent stake… More details through: https://punchng.com/shelter-afrique-approves-n55-6bn-for-nigerias-housing-projects/ |
Categories
All
Archives
July 2021
News Archive from before July 2018
|
RSS Feed