FG urges regulation of values and rates of land

FG Wants Prices of Land in Nigeria Regulated
The Nigerian Institution of Estate Surveyors and Valuers has been urged to regulate values and rates of land across the country.

This appeal was made by the Minister of Power, Works and Housing, Mr Babatunde Fashola, at the Ministry’s headquarters in Abuja when he received members of the Council.

The delegation visited the Minister to discuss critical issues that bothers on property development and provision of professional services by Estate Surveyors and Valuers.

Mr Fashola noted that if the suggestion is accepted, it will bring an end to reoccurrence of disputes that often lead to huge compensation on the part of government.

The former Lagos State Governor stressed that “the council is expected to play its role in developing a regime of predictable rates for land in each local government area whether the place is developed or not across Nigeria.”

He stated that the Buhari administration was poised with the implementation of the International Public Sector Accounting Standards (IPSAS) in all the Ministries Departments and Agencies (MDAs) to ensure accountability in the public sector and building the capacity of civil servants.

He expressed pleasure receiving the Council members particularly as they engaged the ministry on developmental issues in rebuilding the nation’s economy.

On the National Housing Policy, the Minister stated that the ministry does not have the large scale resources to build permanently, adding that the on-going 5 hectares mass housing projects across 33 states of the federation is a pilot scheme that will set the pace for affordability and acceptability for private sectors to key into.

Earlier in his remarks, President of the Nigerian Institution of Estate Surveyors and Valuers, Dr Bolarinde Patunola-Ajayi, on behalf of the Council members expressed their deep appreciation to the Minister for the meeting.

He added that the meeting will create a channel of synergy and profitable collaboration between the ministry and the institution resulting in a robust and efficient management of the nation’s National Assets.

The President informed the Minister that the Nigerian Institution of Estate Surveyors and Valuers as a major stakeholder in national land resource development and management performs among others the following functions, advice the government on land and housing policies and their implementation; generate revenue for government through the various services rendered and registration of titles to landed properties granted by the federal government.

Dr Patunola-Ajayi stated that following the adoption of the International Public Sector Accounting Standard (IPSAS) policy by the federal government, he enjoined the Ministry to set up implementation committee in all departments and agencies of the ministry for IPSAS compliance.

Source: Business Post

‘Lekki Property Market Will Generate Over 70% of Lagos Wealth by 2025’

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President and Founder, Africa’s Property Investment Group, Chiudi Kalu in this interview with Mary Ekah reveals how a conference tagged, ‘Cracking the Silent Lekki Property Market’, scheduled to hold in Lagos tomorrow, Saturday, June 10th, will open the minds of smart investors to how they can change their financial levels for better by investing in the Lekki property market

Why are you so passionate about people investing in real estate business?

I started investing in real estate almost with nothing but today I am privileged, by the grace of God, to have done massive real estate investments that cut across various segments and various locations.  Now we are putting up an event tagged ‘Cracking the Silent Lekki Property Market’ investment forum, which will focus basically on how people can take advantage of the Real Estate sector. Now, people usually think that to be in the Real Estate business, you must have so much money and so many at times; they rig themselves out of good deals. Now the idea behind this forum is to encourage people to invest in property within the Lekki market, just like I started too. Anybody can rise from whatever low position they are today to whatever level they want to be through investments in real estate. Real estate investments give people that leverage to be able to become whatever they want to be. The end of recession is when people make more money than they currently have. Money did not run away because of recession, money is present but the challenge is that certain people aren’t able to have access to the money. And where there is plenty for some and scarcity for others, it simply means that we are in recession because money is not circulating to the people at the bottom. And for anybody to rise and change his status, he/she needs to make a conscious decision to take the opportunity of where people are putting their money and that is what investment in real estate is all about. And real estate is what can make people make transition from their lowly states to their high states. And the forum on ‘Cracking the Silent Lekki Property Market’ would be affording people that opportunity.

Now let’s talk more about ‘Cracking the Silent Lekki Property Market’ forum.  Why ‘Silent’ and how really does it work?

Cracking the Silent Lekki Property Market investment forum is all about taking advantage of the Lekki property market. We can use our idea and expertise to help you as a discerning investor with strong interest in property investing in the Lekki-Epe corridor to profit massively in your own real estate investment. The Lekki property market is an exciting market and more thrilling and profitable. But only about 4,500 out of 180 million people know about this – that is why we call it “The Silent Lekki Market”. This sort of investment is ‘silent’ because it is not what people talk about and like they say, the best deals cannot be ‘googled’ or televised. It is more like a secret. It is like a cabal, only a certain number of people know about it. And so it is an exclusive deal that nobody wants to talk about. Even the banks don’t want to talk about it and that is why you find out that the banks are willing to give loans more for the Lekki property than they would give for property in other areas. So at this forum, you would have the chance to seek out a profitable Lekki property deal that produces cash-flow from day one. It is obvious that Lekki will generate more than 70 per cent of Lagos wealth by 2025 and the reasons are very obvious to any smart investor. Again, only those who understand the trends can make money investing in what I call the Silent Lekki Property market. Of course, a thorough property evaluation is necessary which is the reason AFPING is putting together a forum where investors can see the figures, facts and returns.

I’m saying that within the next 10 years, $3 trillion dollars will be generated from the Lekki property market. So how do I own a particular percentage of that money, it is by now investing in property within that region.  It’s not rocket science for anybody to invest in that region. It takes me taking advantage of the opportunities that come my way. And because there are so many real estate companies on ground, how then do you separate the wheat from the chaff? This is what this forum is all about. And for anybody who wants to buy property, I will say don’t buy but wait until you attend this forum then you can buy. By then, you would understand the reason why you should buy and the kind of real estate you should invest in. Information is the bedrock for transformation, so how informed I am, will determine the kind of investment choices that I make. So if you feel that the property market has been rigged against you, then you have the unique privilege of overturning the deficit in your favour by understanding and getting involved in the biggest yet most exclusive property market in Africa. This forum will not only provide you with powerful insights and latest money-making tips in Lekki property investing but will also create a platform for you to meet with professionals and entrepreneurs who have made solid returns in the region as well as the opportunity to invest in what they invested in. This forum will show you offers that have very good chance of capital growth within 12 months period with high returns. Now because of the strong market analysis, it is also certain that as much higher returns will be the gains that could be obtained if you get to keep your property but you definitely would not experience a loss on your property investing and that is what this programme hopes to offer.

 

How do you intend to educate people about this just in a one-day forum?

The forthcoming event is tagged,’Cracking the Silent Lekki Property Market II and will parade speakers like Cofounder/CEO, Arkbridge, Mr. Alex Adefarasin who would speak on the topic, ‘5 Things Investors Must Know about Silent Investing’; Co-investor, Wealth Island, Mr. Tade Cash, will speak on, ‘Cracking the Lekki Property Code Once and for All’ while the Principal Partner, St. Lawrence Chambers, Mr. Victor Adeeko, will speak  on, ‘How to Belong to the N1.2 Billion Silent Lekki Market’ and of course, the Founder, AFPING, Mr. Chudi Kalu would crown it all with the topic, ‘Why Your Financial Future Matters with the Silent Lekki Market’. On that day, we are also going to be showing people the deals they can take up. It is going to be exclusive and insured deals that will guarantee between a 100 per cent and 300 per cent returns in less than 18 months. It is insured deals, and that means anybody who put down his money is not going to lose it. So it is a one-day forum but a life time opportunity.

Is the forum free of charge and who are qualified to attend?

Everybody is qualified to attend. It is open to businessmen, business development managers, fund managers, mortgage bankers, capital investors, high net worth Individuals as well as upcoming investors and incidentally it is free of charge. But for anybody to attend you must register on www.afping.com; if you are not registered, you cannot be part of the event. We had one earlier, which was the Island edition in Victoria Island, Lagos on May 29, which had over 600 people who registered but most of whom registered so late and were not able to participate. We are giving people another opportunity to attend the second edition, which is the Mainland edition billed to hold on Saturday June 10th at the Sheraton Hotel Ikeja, Lagos by 9a.m.. So the earlier they can register, the better for them because we have limited seats available. We are looking at the peculiarity of the market and one of the things that we would regularly do is to look at various segments that people can invest in. For example, we are looking at the top 10 areas that people can put their money and which can generate wealth because it is not just about Lekki alone but for now, the issue about the Lekki market is  because of figure, the market and the potentials of that area. For example, the largest sea port is coming to Lekki. What is the market potential for real estate investors in Lekki? An investor is a person who makes money when other people are buying some particular property. For example, a real estate investor is someone who makes money when other people are renting, so as an investor, what is the value of rents that I see in this particular area? Lekki has dominated the various segments of property investments and it has remained the top three in the past five years consistently, so you cannot go wrong for investing in that market. But you need to be able to understand the facts, the figures and locations for investments and for what purpose are you investing. So the day you buy real estate, is the day you start making money from it but what we have these days is that people buy real estate and for five years, they have not been able to do or gain anything from the property and then the problem that we have in Nigeria, is not land deficit, but housing deficit. Now a lot of people have lands but are they making money from the land that they have? So why not have land where people can always pay you income on that property so that you can make money because when people make more money, they enjoy more leverage as individuals.

How do you guarantee security on investments?

In case of negligence, a partnership has been established between the developer, Arkbridge Integrated Limited and an insurance company, AXA-Mansard to be able to insure the investments of investors. So if there is any negligence on the part of the developer, at least your capital is secured. So even if I am going to lose money, I am not going to lose my capital, and also the developer is also having an agreement with the investors, saying that I will buy back this property from you, if at the 15th month, you tell me that you want me to buy back the property from you, which gives me the opportunity to say yes or no.  So I have different choices to make when it comes to the investments.

Prime Properties For Lease and Sale :

All properties are direct instruction :

FOR LEASE :

Lekki Phase I

1. 3 bedroom serviced flat at Prime Water View 2, Lekki Phase I. Rent : #2.5m

2. 3 bedroom self service flat, Upper floor at off Road 13, Lekki Phase I. Rent : #2.2m

IKOYI :

3. 4 bedroom architectural masterpiece town house with BQ on Bank Road, Rent : #15m (net), S/C: Call

4. 3 bedroom fully serviced luxury flat at Banana Island Estate, Rent : #12m, S/C: #3m

5. 3 bedroom fully serviced luxury flats with BQ off 2nd Avenue, Banana Island Estate. Rent: #15m, SC: #3.5m

6. 4 bedroom fully detached house with BQ at Olamijuyin Street, Parkview Estate, Ikoyi. Rent: #7m, asking

SALE :

LEKKI PHASE I

7. 2 nos. 4 bedroom newly built detached houses with BQ, Automated window blinds and swimming pool off Admiralty Road, Lekki Peninsula Phase I. #220m, asking.

OSAPA/AGUNGI

8. 6 bedroom exquisitely built detached house with BQ on 3 floors at Osapa London, Opposite Victory Park Estate. #95m asking. Registered Title.

9. Various 3/4/5 bedroom flats, semi detached and fully detached houses ranges from #38m to #80m.

AJAH

10. Block of 4 nos. 2 bedroom flats at Badore Area, Ajah. #25m. fully tenanted and rental Value is #700k per annum.

11. 5 bedroom detached house with BQ at Badore, Ajah. #40m, asking.

12. A plot of land well fenced and sandfilled, measuring 650 SQM at Seaside Estate, Badore, Ajah. #8m net.

13. 30 units of 3 bedroom flats at sangotedo, Ajah

ABUJA:

14. 4 bedroom semi detached house with BQ at Cliffland Estate, Dutse District,. Price : Call.

For Further Enquiries, Please contact: J. C. Realtors
Tel: 08032797503,
08026772294

Duplex for Sale at Lekki Gardens Estate Phase 3

A brand new 4 bedroom semi detached duplex, fantastically finished interior, Fitted Kitchen, vitrified Tiles, state-of-de-art sanitary wares and bathroom fittings, spacious compound to park 5 cars conveniently. Side Attractions (such as: Swimming Pool, Lawn Tennis Court, Basket Ball Court & Playground for kids). An easily accessible & very well secured & organised estate with High Security Facility(24hr- Guard by Mobile Policemen), 24hr-Power Supply, Central treated water supply, serene interlocked environment on a tarred road with good drainage system free from flood.
Location: Lekki Gardens Estate Phase 3, behind LBS(Lagos Business School), Off Lekki Epe Expressway, Ajah, Lagos State.
Price: 35M
Ttile: C of O / Contract of Agreement with Lekki Gardens.

Call Godfrey on 08034360360
GM Harvey Realty Limited

NOW SELLING:BAYVIEW (ELEGUSHI), LEKKI.

ONGOING PROJECT

BAYVIEW (ELEGUSHI), LEKKI.

This is a joint venture project with MISA LIMITED. It consist of 68 terraces and 32 flats. It is located behind Oando Filling Station and beside Stillwaters Gardens Estate, Lekki.
FACILITIES:- 1) Service yard (Water treatment plant, Sewage treatment plant). 2) Club house. 3) Gate house. 4) Gent house, Car park – average of 2 slots per home, plus visitors’ slots.
TERRACES GROUND FLOOR :- Ante room, Visitors’ toilet, Living/Dinning room, Kitchen, Store, Boys’ quarters ensuite, Terrace and courtyard.
FIRST FLOOR :- Family lounge, 2 Bedrooms, Bathroom, Box room and Terrace.
SECOND FLOOR:- Master bedroom, Living/Dining room, Bathrooms and terrace.
FLAT:- 3 Bedroom flats with Maid’s room.
PRICES. Terrace – 75m Flat – 45m
For enquiries call: Lekan – 08023189406, Bunmi – 08023199743, Deola – 08037178829, Hammed – 08023177687, Moji – 08064021155 and Sylvia – 08122681707.

 

This is a joint venture project with MISA LIMITED. It consist of 68 terraces and 32 flats. It is located behind Oando Filling Station and beside Stillwaters Gardens Estate, Lekki.

FACILITIES:- 1) Service yard (Water treatment plant, Sewage treatment plant). 2) Club house. 3) Gate house. 4) Gent house, Car park – average of 2 slots per home, plus visitors’ slots.

TERRACES
GROUND FLOOR :- Ante room, Visitors’ toilet, Living/Dinning room, Kitchen, Store, Boys’ quarters ensuite, Terrace and courtyard.
FIRST FLOOR :- Family lounge, 2 Bedrooms, Bathroom, Box room and Terrace.
SECOND FLOOR:- Master bedroom, Living/Dining room, Bathrooms and terrace.

FLAT:- 3 Bedroom flats with Maid’s room.

PRICES.
Terrace – 75m
Flat – 45m

For enquiries call:
Lekan – 08023189406, Bunmi – 08023199743, Deola – 08037178829, Hammed – 08023177687, Moji – 08064021155 and Sylvia – 08122681707.

Other views

NOW SELLING AT H.A.B FASHINRO ESTATE, DANFODIO, APAPA (GRA).

H.A.B FASHINRO ESTATE, DANFODIO, APAPA (GRA).

FLAT – 3 Bedrooms with maid’s room. All rooms ensuite. 24/7 Power supply guaranteed. PRICE – N55m. For enquiries call: Lekan – 08023189406, Bunmi – 08023199743, Deola – 08037178829, Hammed – 08023177687, Moji – 08064021155 and Sylvia – 08122681707.FLAT – 3 Bedrooms with maid’s room. All rooms ensuite. 24/7 Power supply guaranteed.

PRICE – N55m.

For enquiries call: Lekan – 08023189406, Bunmi – 08023199743, Deola – 08037178829, Hammed – 08023177687, Moji – 08064021155 and Sylvia – 08122681707.

Building views

THE BIGGEST REAL ESTATE EVENT IN AFRICA IS SET TO TAKE PLACE IN LAGOS

The 5th edition of the Real Estate Unite is set to take place on 6 and 7 of October 2016 at the Eko Convention Centre, Victoria Island, Lagos. This is an annual summit that offers the platform for global real estate leaders to discuss opportunities and issues in Africa’s real estate sector.

“We believe it’s time to blow the whistle and begin to look inwards as a nation with huge potential,” said Ruth Obih, CEO 3Invest speaking at a press conference.

The event themed “filing the GAPS” will look at how the government and private sector strategy can be used to grow the potentials of the Nigerian real estate market, and engage new growth drivers for the local capacity driven market.

Over the years, the real estate industry has witnessed rapid transformation through development. While Nigeria has experienced some challenges, the general trend of the nation’s real estate industry remains promising. In the second quarter of 2016, the real estate sector grew by 2.12 percent and added 8.64 percent to the country’s nominal GDP. The forthcoming conference aims to infuse more energy into the sector to create jobs and drive entrepreneurship.

The event will be in different sessions, which comprises of the conference, exhibition, awards as well as exclusive meeting sessions. The exclusive meeting sessions will be African Women in Real Estate Meeting (AWIRE) and Real Estate Leaders Meeting. The event will also feature new programs such as the new 3INVEST biennial recognition. It will also feature strategy sessions to foster a collaborative network of ideas and solutions.

“We must act fast and start to exploit the opportunities around, especially the housing sector as it will generate employment and impact multiple sectors of the economy,” said Ruth Obih.

What you need to know about the sessions

Leaders Meeting

The leaders meeting is a closed door session between industry stakeholders and government officials, angel investors and international investors with interest in harnessing local relationships and growing the industry forward.

AWIRE Meeting

The Africa Women in Real Estate (AWIRE) Meeting is a networking platform that fosters growth and economic prosperity for women in real estate.

AWIRE will address factors that affect women’s participation in mortgage finance, interior decoration and property development. They will suggest plans to assist women in leveraging existing tools and resources to promote career development while mentoring upcoming entrepreneurs.

Exhibition

It will give exhibitors the opportunity to meet their target customers, build new clientele base and leverage on the event to create brand visibility and awareness. It will also enable exhibitors increase sales by demonstrating their products and services to interested clients, have direct access to interested buyers and build meaningful relationships with key contacts.

The Conference

The Real Estate Unite 2016 GAPS conference takes place on the 7th of October and features several breakout sessions, where there will be meeting of the key players in Nigerian real estate sector.

The speakers include:

  • Babatunde Fashola – Honourable Minister for Power, Works and Housing
  • Ayuli Jemide – Lead partner, Detail Commercial Solicitors
  • Prof Charles Inyangete – CEO NMRC
  • Ronald Chaugoury Jnr. – Vice President South Energyx
  • Sonnie Ayere – Founder & CEO Dunn Laren Merrifield group
  • Adeniyi Adeyele – Head, real estate finance west Africa Stanbic IBTC and standard bank
  • Wale Olaoye – CEO Halogen Security
  • Prof Gbenga Nubi – Dean of Estate Management faculty, University of Lagos
  • Andrea Geday – MD Elalan
  • Mr Hakeem Ogunniran – MD UPDC
  • Yemi Idowu – MD AIRCOM
  • Anne Rinu – Head, property, Nigeria & West Africa Standard Chartered Bank
  • Adeniyi Falade – MD Custodian Pension
  • Chukwunonso Ume-Ezeoke – CEO Assist-2-sell properties LTD
  • Tola Akinhanmi – Snr Manager Real Estate Finance CIB, West Africa, Stanbic IBTC
  • Bolaji Edu – CEO Broll
  • Ruth Obih – CEO 3INVEST
  • Tosin Ajose – Associate Partner, Detail Commercial Solicitors

They will be discussing the following topics:

  • Government gap – focusing on enhancing government performance through effective leadership, education and technology
  • Access gap – focusing on enabling access through regulatory reforms
  • Private Sector gap – focusing on the real estate market in an economic recession (local solutions to finding cheaper money)

There will also be a collaborative strategy breakout sessions on:

  • Retail Strategy
  • Office Strategy
  • Affordable Housing