Property Insights
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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CBN raises MPR: What’s in it for Nigeria’s housing market?
CBN's recent MPR benchmark raise from 11.5% to 13% will likely spike the cost of bank borrowing at around 30% APR. Following the CBN's recent Monetary Policy Rate (MPR) benchmark raise from 11.5% to 13%, the cost of bank borrowing from commercial banks is now projected at around 30% APR. The unaffordability nature of Nigeria's [...]
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Local retail expansion update
The last 3 years have been challenging for Nigeria's retail market The last 3 years have been challenging for Nigeria's retail market as the nation grappled with market volatility, rising inflation, and insecurity. While some retail players have slowly recovered from the dark days of xenophobia, city protests, and lockdown restrictions, a few are yet [...]
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Africa Data Centres expands to Ghana
Digitalization continues to play a massive role in Ghana’s economic advancement Following the unveiling of its new 10MW data centre facility in Nigeria, Africa Data Centres (ADC), a pan-African technology group focused on building and improving digital infrastructure across Africa, has announced plans to build a 30MW data centre facility in Ghana. With an [...]
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In 20 years, Nigeria loses $3.2Trn worth of property to building collapse
Building collapse remains an undefeated opponent in the contest for sustainable development The last 50 years have seen over 180 reported building collapse cases worldwide and still counting. In November 2021, a 21-story building collapsed in Ikoyi - a prime area of Lagos, leaving more than 40 individuals dead. 6 months after this tragic event, [...]
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What the new US Consulate General means for Eko Atlantic City
The new US Consulate General has the capacity to drive up the momentum of development activities in Eko Atlantic City The new U.S. Consulate General is a 10-floor tower project located on 12.2 acres in Eko Atlantic City. Designed by Ennead Architects and Pernix Group as main contractors, the $537M mixed-use facility will offer [...]
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Data centres everywhere
Undoubtedly, the Lagos real estate market is fast becoming tech-driven. Undoubtedly, the Lagos real estate market is fast becoming tech-driven. Recent weeks have seen the launch of 2 new data centres in Lagos. This speaks volumes about the positioning of the Lagos market for digital infrastructure opportunities, with the State's teeming population and technology [...]
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