Housing News

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Osinbajo Will Come Out Stronger From Travails, says Cleric

Vice President Yemi Osinbajo will come out stronger from the political challenges he is facing at the presidency, says the Assistant Provincial Pastor for Youth, North Province 6 of the Redeemed Christian Church of God (RCCG), Tunde Benjamins-Laniyi.

The pastor in charge of The Throneroom Parish noted challenges as part of life with no exemption, adding that one’s faith in God would make him an overcomer.

In an interview with journalists after a special church service which had in attendance the General Overseer of RCCG, Enoch Adeboye, yesterday in Abuja, the cleric described Osinbajo as a man of so much faith in God.

His words, “Everybody faces challenges; they are part of human life. Everything works together for good for them that love God. There is time for everything; time to cry and time to laugh. Nobody, no matter how highly-placed, is exempted from challenges. But the beauty of it is that at the end of the day, because of your faith in God, you will be able to overcome. So the vice president will overcome the challenges and will come out stronger.”

He decried the high level of nepotism and tribalism in the country, calling on Nigerians to demonstrate love that transcends all barriers and ethnic sentiment.

Earlier, wife of the General Overseer, Mrs. Folu Adeboye, told the congregation not to lose their peace irrespective of what is happening in their lives.

She assured the church that once God was not absent in their lives, they would emerge victorious.

In his sermon, Adeboye told the worshippers that any man who had attempted or is attempting to throw them in the Lions den would be destroyed.

Source: Guardianng

Mixed Developments Yield More Than Single-Use Properties

In its latest NMA Mixed Use Developments Report 2019, they say giving tenants more services within a single property makes the investments more attractive compared to single-use properties where one has to leave the premises to seek services from numerous locations across town.

“Mixed-Use Developments (MUDs) recorded average rental yields of 7.3 percent in 2019, being 0.4 percent points higher than the respective single-use retail, commercial office and residential themes average of 6.9 percent, attributed to increasing popularity of the mixed-use concept.

MUDs are convenient as they incorporate working, shopping and living spaces. Such investments attract the highest returns within Kilimani and Limuru Road where rental yields are 9.1 percent and 8.5 percent, respectively above the market average of 7.3 percent.”

The report added that real-estate investors should also incorporate differentiated concepts such as serviced apartments and shared offices that have emerged as new investments that provide attractive returns of 6.4 percent and 13.5 percent respectively.

MUDs offer users secure spaces for homes, shopping as well as working spaces which help beat turnaround times solely blamed on delays caused by Nairobi’s chaotic traffic, it observed.

Largely affluent Kenyan families and expatriates have created a niche market for MUDs that provide round-the-clock security allowing late night shopping, partying and flexible working hours.

Two Rivers, Ciata, Garden City, Westgate, Junction and Sarit Central are among notable MUDs that offer visitors access to numerous facilities from banks, chemists, groceries, eateries, retail shops as well as medical centres among others.

Nairobi is also experiencing a new phenomenon with multinational firms preferring to hire readily furnished offices with various branches across Nairobi that enable workers to work from different locations.

Source:businessdailyafrica

60 Homeless Veterans Will Get Affordable Housing In New Complex

AURORA, Colo. (CBS4) — Construction begins this week on a 60-unit complex that will provide permanent supportive housing for veterans experiencing homelessness. The Veterans Renaissance Apartments at Fitzsimons will be located at East 17th Avenue and Peoria Street in Aurora, on the Anschutz Campus.

“We are honored to be able to provide 60 additional units of supportive affordable housing for our Veterans in Colorado,” said John Parvensky, President/CEO of the Colorado Coalition for the Homeless. “For those who have served our country, it is shameful that this country doesn’t always provide them stable housing options when they return.

The four-story building will feature 56 one-bedroom units and four two-bedroom units, all with full kitchens and bathrooms.

“The high ceilings and large windows will create a sense of openness and light for the residents,” officials stated. “On-site amenities will include property and case management, laundry facilities, TV room, computer lab, community kitchen, medical exam room, and community space designed with a focus on community and natural light. Outdoor amenities include onsite parking, enclosed bike parking, an outdoor gathering space with grills, a dog run, a nature path, and an outdoor exercise area.”

The project is set for completion by December 2020.

Source: denver

Nigerian Engineers Need Self-Cleansing To Compete Globally — Sanwo-Olu

Lagos State Governor, Babajide Sanwo-Olu, has urged different associations in construction industry across Nigeria to commence self-cleansing in order to compete favourably with their counterparts around the globe.

He disclosed that the role of engineers in construction cannot be overemphasised in human daily life as virtually all other sectors rely on the construction industry to provide and maintain their accommodation, plants and infrastructure.

Speaking at the 41 Annual Conference /AGM 2019 of the Association for Consulting Engineering in Nigeria in Lagos, Sanwo-Olu, who was represented by the Permanent Secretary, Lagos state Ministry of Works and Infrastructure, Engr. Olujimi Hotonu, said that with the application of digital technologies, the role of construction industry is bound to become more important due to various mega trends.

“We always require the service of construction engineers to assist in area of project conception, implementation and management. Thus, it is important for us to galvanize and integrate skilled professionals, including project engineers to supervise and ensure effective management and timely completion of projects.

Speaking on “Integrating Nigerian Engineers into National Development”, Sanwo-Olu said Lagos state government believes in inclusive governance and patronage of local market as it helps in capacity building of workforce, reducing capital flight and brain drain. According to him, “We have strong belief in the professional competency of our engineers and we trust that they can hold their ground among their peers outside the country.

However, there is need for them to be encouraged through inclusion and involvement in design and execution of major projects that cut across all the aspects of engineering. On his part, the President of Association for Consulting Engineering in Nigeria, Engr. Charles Akindayomi, urged members of the association to embrace merger and acquisition which is the new global trend. He however, identified lack of widespread access to modern engineering technologies as one of the challenges that can be tackled through merger, insisting that “The stability of our economy depends on how well we sustain the country’s infrastructure development.

To ensure government patronage, we must ensure that the design and construction of our national assets are carried out in line with international best practices and standard that is compatible with our culture and environment.” The Keynote Speaker, Engr. Nurudeen Rafindadi, tasked government to address factors that limit Nigerian engineers from competing with their global counterparts such as high cost of funds and capital in establishing engineering practice and pioneering of projects generally. “Government should consider establishing infrastructure bank or credit agency that will lend at concessional rate to empower local engineering firms as it’s being practised globally”, Rafindadi noted.

Source: Vanguardng

Why Housing Professionals Must Unite to Develop Nigeria Housing Industry

To see the kind of progress needed in reducing Nigeria’s housing deficit of at least 17 million, housing sector professionals must imbibe the spirit of unity and be on the same page in terms of policies, ideas, innovative projects and sustainability drives.

Stakeholders have continuously bemoaned the increasingly low level of collaboration among each other in the Nigerian housing sector.

The current approach to professional practice in the housing development, which is characterised by each professional working largely within the narrow confines of their profession has negative consequences on the development of the real estate industry in Nigeria. And some of the consequences include substandard development, increased cost of developments, lack of financial intelligence, and lack of data collation, lack of finance pool or funding, difficulty in doing business, more self-borne risks, limited learning and many more.

The lack of adequate cross sector collaboration among and between stakeholders remain a major threat to the realisation of affordable housing goals. The kind of projects and initiatives essential to scale up housing supply in Nigeria requires a lot of collaboration and synergy among stakeholders.

With over 17 million housing deficit, and the need to build at least 1 million homes annually, there is need for active collaboration networks to achieve this goal.

Like some stakeholders attest to, many developers and financers are working in silos, and this shouldn’t be so.

Even alternative methods of financing housing development like cooperatives are being dealt a huge blow because of lack of collaboration.

Cooperatives allow for resources to be pulled together from various members who have come into the unit for the purposes of realising their objective, which may be homeownership.

Attempts have been made over the years to raise money through conventional means, but no suitable one could be found.

Through the cooperative option, members are able to increase wealth and create long-term lending options through their funds at very low interest rate.

Despite efforts by investors in the private sector, the government should also increase investment in housing, especially in providing primary infrastructure.

Against the background that primary infrastructure forms about 30 per cent of construction cost in housing estates, the road to housing availability and affordability cannot be achieved without the support of the government and collaboration of stakeholders.

The current economic situation, the impact of technology and global professional trend makes it very important for stakeholders to imbibe the spirit of collaboration.

There is an urgent need for everyone in the built-environment sector to come together from the past, see and embrace the future. In order to hone and sharpen skills in various areas of the sector, stakeholders must work together as a unit of collaborators, exchanging ideas and comparing notes.

The output of a dedicated team effort will always be better than the work of any one professional no matter how gifted the person is. If stakeholders do not catch and align with themselves and with professional trends, they can be left behind. There is a global competition going on, and Nigeria’s built sector must play along.

These facts were excessively mentioned at the 13th Abuja International Show by many speakers, and one of the key resolutions from the show was the need for wider sector collaboration to happen in order to collectively mitigate risks and increase financing options for Nigeria and its built sector which has potentials to be more that what it currently is.

Interested stakeholders believe that ongoing collaborations including the ones involving the NMRC, Family Homes Funds, MBAN, CBN, Ministry of Works and Housing and others need not only be sustained but increased to take in more.

 

Why Nigeria is Our Key Market for Affordable Housing—Shelter Afrique

…partnership pact with FHF to deliver homes for low-income earners

For its large-size population, high housing deficit profile and low homeownership level estimated at 200 million, 17 million units and 25 percent respectively, Nigeria’s housing market is,clearly, a low hanging fruit for savvy and strategic investors.

This explains the investment interests shown by both continental and international institutions like Shelter Afrique which sees Nigeria as a key market for them, especially in affordable housing delivery.

Shelter Afrique is a partnership of 44 African governments plus the African Development Bank (AfDB) and the Africa Reinsurance Company whose aim is to provide funding solutions for new affordable housing projects.

To fully leverage opportunities in the Nigerian market, the continental body recently signed a memorandum of understanding (MoU) with Nigeria’s Family Home Funds (FHF)—a social housing initiative promoted by the federal government as part of its social intervention programmes.

The funds, which focuses on affordable homes for low-income earning Nigerians, has an initial shareholding by the Federal Ministry of Finance and the Nigeria Sovereign Investment Authority,.

It hopes that, by 2023,it shall have invested up to N1.3trn (US$3bn) in the development of 500,000 homes for low-income earners and, in the process, create up to 1.5 million jobs and, through that too, enable homeownership.

At the agreement signing event which was prformed in Abuja by the chief executives of Shelter Afrique and FHF, Andrew Chimphondah and Femi Adewole respectively, the continental body offered insights into its affordable housing delivering strategy.

It pointed out that Nigeria is its biggest market. “We are very grateful to get into a partnership with Family Homes Funds and we are delighted to sign the MOU. One of the things we realised when we re-strategized over the last few years is that beyond financing affordable housing, one of our strengths was leveraging our partnerships and networks,” said Chimpondah.

He explained that they were happy to be signing the agreement, not only because it fits into their strategic direction, but also because Nigeria is a key market and Family Homes Funds has a better understanding of the local market.

“The idea is to co-fund specific deals, share market knowledge and operate in line with best practices. In the end, our core vision is to develop decent and affordable homes for all Nigerians and if we work together to solve the affordability challenge on the demand and supply side, we will be able to achieve a lot,” he hoped.

Earlier, Adewole had described the MoU signing as “a small but momentous occasion,” explaining that Shelter Afrique has been a housing financing organisation for more than 35 years with significant experience across very many countries while FHF is barely a couple of years old.

“This partnership and relationship birthed out of this MOU provide the beginning of what I hope and expect; we will work assiduously for it to be a very successful relationship and we will ensure that we create homes for Nigerians who need them most,” he assured.

The signing of the MOU, according to him, is the first in what would be a weekly series of meetings held by a committee with members drawn from both organisations.

The meetings are expected to result in specific co-funded affordable housing projects which have been identified as low hanging fruit projects that are affordable and below N9million per home. Both firms have committed to co-financing, at least, one project before the end of 2019.

Source: businessdayng

Lekki Residents, Stakeholders Fault AMCON on Victory Park Estate

Residents and stakeholders in Lekki estates have faulted the action of Asset Management Company of Nigeria (AMCON) regarding the handling of the receivership case involving Victory Park Estate on the Lekki Peninsula, Lagos.

The residents, under the aegis of Lekki Estates Residents and Stakeholders Association (LERSA) which embodies all estates, communities and facilities from 1004 Estate up to Epe, contended that AMCOM could not be judge and prosecutor in its own case, more so as it violates court orders at will.

LERSA’s position was contained in a statement issued by the association and made available to BusinessDay in Lagos last week. It was signed by James Emadoye, the president of LERSA.

Emadoye, who led a delegation of LERSA members to Victory Park Estate on a fact finding mission, wondered why AMCON, a creation of government, would not obey court ruling and decided to move to the estate to harass innocent citizens.

He recalled that the harassment started just few days after a Lagos State High Court presided over by Honourable Justice Jos declared unconstitutional the provisions of Section 34(6) of the AMCON Amendment Act No. 2.

Emadoye called for immediate intervention of Lagos State and federal governments, stating that the country’s developmental dreams would continue to be a mirage until “the big and mighty allow the laws of the land to take effect and all Nigerian citizens are subject to the laws of the land.”

“We wish to draw the attention of President Muhammadu Buhari, Governor Babajide Sanwo-Olu of Lagos State, chairman of AMCON, Muiz Banire and the managing director of AMCON, Lawan Kuru to the plight of the people,” he said.

Continuing, he said, “we are Nigerian citizens and we surely deserve the protection of the government. We cannot allow anybody to undermine the law of the land; in the matters of Victory Park Estate and other similar matters, we deserve the protection of the constitution of the land; we deserve the protection of our elected custodian of the constitution of the Federal Republic of Nigeria.”

LERSA also called on the Inspector General of Police, Mohammed Adamu, to immediately direct men of the Nigeria Police not to allow themselves to be used by AMCON and their Receiver Manager, Lanre Olaoluwa, to disturb the peace of the residents and property owners of Victory Park Estate.

Emadoye lamented the plight of residents and landlords at the estate who invested their hard-earned money into premium real estate and now risk losing the product of their sweat to what he called “some spurious claims” from AMCON.

Addressing the leadership of the Victory Park Estate Owners & Residents Association, he noted that injury to one was injury to all and promised that LERSA would not relent until the residents and owners of Victory Park Estate got justice.

Housing Deficit

The LERSA Vice President, O.P.A Ladega, also condemned the impunity being displayed by the Receiver Manager,  pleading with the state and federal governments to call AMCON to order and to desist from further harassment and persecution of the legitimate residents and owners of the Victory Park Estate.

The chairman of Victory Park Estate Residents Association, Godfrey Efeurhobo, thanked the visiting LERSA team and promised that they would remain law-abiding and steadfast in the defence of their legitimate properties. He expressed gratitude to fellow Lagosians and other Nigerians from far and near; for the immense show of support and encouragement.

Source: businessdayng

Why Urban Shelter was honoured by AIHS as Real Estate Development Leader in Nigeria

The Nigeria Housing Awards and Dinner took place on Friday 26th July 2019 at the International Conference Centre Abuja with all leading stakeholders, CEOs and companies in the housing and construction sector present to celebrate each other’s successes in the past year.

The colourful event which marked the end of the 13th Abuja International Housing Show had a lot of special moments including the moment real estate company, Urban Shelter was awarded as Estate Developer of the Year.

Urban Shelter Limited is a property development corporation with headquarters in Abuja Nigeria. With over 25 years of experience in integrated property development and management, the company has been driven to make itself a household name in the property industry.

Urban Shelter Limited has to its advantage an immense reserve of resources and experience, which give it the ability to effectively plan, develop and manage properties for individuals, private organisations, state and federal government establishments while strategically positioning the company to consolidate its activities across Nigeria, Dubai, and the entire West African sub-region

They are a real estate investment firm positioned to deliver cutting edge and competitive real estate solutions to their valued clients. They engage in real estate development, brokerage, and management. They offer good and flexible payment plans on all their products and services. Their clientele include corporate bodies, private individuals, cooperative societies, institutions and companies.

For more than 20 years, they have helped Nigerians rediscover the dream of home ownership, the aspiration of turning a house into a home. They’ve built houses so their clients can transform them to welcoming homes and safe havens in a secure location. They are proud to say for many Nigerians, Urban Shelter has turned that dream into a reality.

Urban Shelter is one of Nigeria’s largest real estate developers and a key player in realizing Abuja’s vision of becoming a cosmopolitan city and as well as the Goldman Sachs report on future emerging economies that the country will be among the top 20 economies worldwide by the year 2020; creating a world class destination for living, business and tourism.

Backed by over two decades of solid & verifiable practical experience, their strategic focus continues to be centred on building exceptional properties in some of Nigeria’s most desirable locations. Residential, retail and commercial, each & every Urban Shelter development exemplifies their company’s commitment to the highest standards supported by market awareness, driven by passion and governed by integrity.

Urban Shelter is currently realising a number of potentially high-yield projects to add to their already impressive portfolio.

The fulfilling night was a mix of soothing music, choreography, dining, wining and laughter.

The Nigeria Housing Awards is dedicated to rewarding excellent performers in the housing and construction sector and to inspire creativity and the kind of hard work that will drive affordable housing in Nigeria.

 

Billionaire Raval To Build Lukenya Iron Sheets Plant

Billionaire industrialist Narendra Raval, better known as Guru, is expanding his roofing-sheet manufacturing business at a reported cost of Sh11 billion at his Lukenya property.

Mr Raval, who chairs Devki Group of Companies, told the Business Daily that Citibank and Barclays would fund the new business besides internally generated funds.

“With this new mabati plant expansion, 700 more jobs will be created and that will add to our recently acquired Sh5 billion ARM Cement deal that came with an additional 1,100 employees.

The upcoming steelmaking factory in Kwale will employ 2,100 people upon completion within the next two years,” he said.

According to regulatory filings, Mr Raval is seeking approval for the planned factory, which the National Environment Management Authority has given the public 30 days to file submissions on the project.

Mr Raval has been on an expansion spree in the last two years with two new factories under construction in Njoro, Nakuru and Mariakani in Mombasa.

In 2015, the Devki Group raked in Sh65.8 billion in annual revenue with its owner described by Forbes magazine as among Africa’s tycoons with a net worth of Sh40 billion.

Companies under the conglomerate include Devki Steel Mills, National Cement Company Uganda, Maisha Mabati Mills and Northwood Aviation.

Mr Raval is also erecting a second 1.8 million metric tonnes per annum clinker line in Kajiado where construction started this year and is to be commissioned by 2020. He is setting up another 0.75 million metric tonnes cement plant in Kilifi while the 0.88 million metric tonnes in Athi River is still underway set to be commissioned in mid-2020.

Source: businessdailyafrica

80 Per Cent of Trans-Saharan Highway Asphalted- FG

The Minister of Works and Housing, Babatunde Fashola, Monday, said 80 per cent of 9, 895km trans-Saharan Highway, which passes through six African countries have been asphalted.

The countries are Algeria, Tunisia, Mali, Niger, Nigeria and Chad.

Speaking at the 70th session of the Trans-Saharan Road Liaison Committee (TRLC) in Abuja, Fashola said the remaining 20 per cent which is earth road would be finished as soon as possible.

In attendance were representatives of all the counties as well as the Secretary General of the TRLC, Mr Ayadi Mohammed.

The Minister said the road serves 37 regions in Africa, connects 74 urban centres and sixty million people across six countries who are members of the Committee.

The road he said, would encourage the integration of the region as well as open up limitless opportunities to the countries.

According to him, “It is very useful for every African to be aware of the existence of a trans-African highway plan which seeks to connect the whole of Africa right from Cape Town up to Tunisia, either by driving through the East African border, or the West African border or through the centre of Africa. There is a coast to coast connectivity from the West to the East of Africa to the Northeast of Africa to the Northwest of Africa, and the Southwest of Africa to East Africa.

“A total of nine Highways at different stages of connection are meant to achieve this connectivity and it is important for Nigerians to understand that three of these Highways pass through the territory of Nigeria out of those nine.

“The first is the Lagos-Dakar Highway, which passes through Seme border, and there to Dakar, Senegal. The second is the Lagos-Mumbasa, which links us through Yaounde in Cameroon. The third and the one about which we are gathered today is the Lagos-Algiers-Highway, which is the object of this meeting.

“That road covers over 9000km and 80 percent of that road is now asphalted. It is important to contextualize that in what we all read about as the trans-Saharan trade road. This was the road of Camels and Horses. So how much Africa has progressed now is that with the partnership of all of the men sitting here and all of the experts, 80 percent of the roads used to be traveled by the camels and horses are now motorable and I think that is progress.

“That is how big the impact is. That is what I want Nigerians to understand that we are part of a large urban network of opportunities. If you appreciate that the roads of horses and camels are now the road of vehicles and trucks , you can imagine the opportunities that lie ahead as we converge here”.

He added further that, “the entire 1, 131 km which passes through Nigeria is in different stages of development. We are expanding section from Lagos to Sagamu on the Lagos-Ibadan axis of this route and this is because it is the most busy section of the road. It carries averagely 4, 000 vehicles a day, out of which about 5, 000 are trucks. We are also working on the Abuja-Kano highway, which is another very busy section that carries a similar vehicular traffic and we are at different stages of progress along all these highways.

“With the recent signing by the President of the African continental free trade area, shows clearly that we are on the right track. We are now ready to harness the opportunities that our investment in this road offers. We are ready to integrate into the big African family of which we are being a major player. We are ready to integrate culturally as well. More importantly we are committed to ensuring we do so very safely for all of the people who use that road. The FEC just last week approved that Nigeria should ratify and domesticate the African Road Safety Charter which was adopted at the ordinary session African Union Commission in January 2016 in Addis Ababa. This means a commitment to more safety, more humanitarian issues, more life saving capacities, prevention of road traffic accidents on this highway”.

Director Highways Planning and Development, Mr Chukwunike Uzo, said the aim of the trans-Saharan road liaison committee, whose membership comprises the six countries, when it was formed in 1966 was to establish a road link across the six countries to encourage growth, socio economic activities, development, cooperation and trade.

“The entire stretch of the road is 9, 895km. In Algeria the length of the sub Saharan in 3, 320km, in Mali it is 2180km, in Niger it is 1985km, in Tunisia it is 699km, in Nigeria it is 1131km and in Chad it is 570km,” he broke down.

He said the highway links two major arterial roads in Nigeria which are A1 and A2.

“In Nigeria the road links two major arterial roads in the country. Our route A1 which starts from the port in Lagos to Ibadan to Ilorin, to Jeba, Mokwa, then at Mokwa it tees off to Kaduna and links the Kaduna-Kano road that terminates in Congoland. The A1 starts from Lagos and ends at Sokoto and the border at Ilela. For the A2 it starts from the port in Warri and goes through Benin-Auchi, up to Abuja, Kano to Congoland.

“Like I said it links two major arterial roads, A1 and A2 and these two routes form one of the core priories established by the Federal Government. We are upgrading sections of the road. For Lagos Ibadan for instance, we are expanding the section from Lagos to Sagamu to two lanes of three, that is six lanes, then Sagamu to Ibadan we are reconstructing the existing dual carriage way. So likewise other sections. These two routes, A1 and A2 carry the heaviest traffic volumes we have on our federal road network,” he said.

President Muhammadu Buhari who was represented by Minister of Police Affairs, Mohammed Dingyadi, said his administration’s mandate when he took over the mantle of leadership in 2015 was to introduce changes geared towards sustainable and quality infrastructural development to drive economic development and job creation.

“Our commitment is to increase Nigeria’s road infrastructure in order to ease the cost and time of doing business and improve our economic competitiveness as an envisaged under our economic recovery growth plan. In view of this our administration shares the aspiration of the trans Saharan road liaison committee aimed at encouraging member countries development the sections of trans Saharan roads within their respective territories,” Buhari said.

The President, described the road as a pride to the African continent, saying Nigeria has supported and would continue to support its existence.

“The Nigerian government has currently upgraded the section of the trans Saharan road within its borders. Special funding consideration has been committed to the reconstruction works of the sections of the tran Saharan roads from Lagos to Ibadan and Kaduna to Kano. Other sections of the route from Ibadan to Ilorin, Ilorin to Jeba, Jeba to Mokwa and Mokwa to Kaduna have either been dualized or rehabilitated to ensure more efficient flow of traffic especially for heavy goods vehicles that traverse this route which sustains the economy of activities that supports millions of Nigerians and our neighbours across our borders. It would continue to receive the desired attention so that it facilitates not only economic activities but also regional and continental integration”, he said.

Source: thenationonlineng

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