Nigeria: Ambitious Eko Atlantic City recording salient milestones

Lagos - like a foetus in the womb, residents of Lagos and regular visitors to the former bar beach along Ahmadu Bello Way, Victoria Island, have continued to witness in awe, the gradual transformation of what used to be a splendor beach front to arguably, the single most ambitious and comprehensive development plan to come on stream in the West African sub-region in recent times.

Privately funded by South Energyx Nigeria Limited, the developers and city planners, a subsidiary of the Nigerian-based Chagoury Group of companies working in strategic partnership with the Lagos State government and supported by the Nigerian federal government, the Eko Atlantic City is a head-turning project in the country's former capital city.

The Eko Atlantic project is an entirely new coastal city being built to solve the chronic shortgae of real estate in the Nigerian commercial capital. The project, which is standing on a standing on a 10 million square metres of land reclaimed from the ocean is protected by an 8.5 kilometre long sea wall.

The city is designed to be self-sufficient and sustainable with its own power, clean water, advanced telecommunications, spacious roads and 110,000 trees.

Nigerians are not merely excited by the prospect of another real estate development as the country, even Lagos State in particular, has become a centre for divergent real estate development, offering all kinds of luxury apartments and office spaces. The spate of excitement is propelled by the size of the land reclamation, and the sophisticated technology being employed which is not a common sight in this part of the world.

Source: allafrica.com

Recession; Now is the time for your money to work for you

Do NOT be afraid of recession,  instead let recession be afraid of you and your finances. 

I will increase investment inflow to Lagos - Governor Akinwunmi Ambode

Governor Ambode at the commissioning of Lagos largest mall, 'Novare Lekki Mall', where he was represented by his special adviser on commerce, Mr. Benjamin Olabinjo, said that he will create an enabling environment for commerce to flourish in the state, confirming that the mall was a step in the right direction of driving his administrations drive to promote commerce and industry.

"We are committed to increasing the inflow of foreign direct investment through friendly reforms and provision of enabling environment for commerce," he said.

The chairman, Novare Real Estate Africa, Prof. Fabian Ajogwu asserted that the completion of the mall at the set time was only possible because of the enabling environment created by the Lagos State Government to encourage foreign direct investment. 

The 31.5bn Mall developed by Urshday Limited, an affiliate of Novare Real Estate Africa, sits on 28,000sqm and 22,000m2 of gross lettable area, is currently the largest in lagos and has both local and international tenants. 

 

Investment - Your best bet is real estate, see why...

What is Investment?
The act of deploying money, efforts or time into an economic venture to make a profit or gain.

Classes of Investment?

• Ownership Investment, e.g Sole proprietorship, Partnership, Limited Liability Company e.t.c
• Purchase and sale of stocks and shares
• Purchase of precious objects e.g. gold. diamond
• Lending Investment e.g, savings account, fixed deposit. e.t.c
• Collective Investment which is the bringing together of investors under a single umbrella e.g. real estate investment trusts (REITs), esusu
• Real Estate Investment, which is the purchase and sale of fixed property, e.g land, buildings e.t.c.

Real Estate Investment?

       

         This refers to fixed and Immovable property, acquired by an investor with a view to generating income and capital appreciation

Real Estate Investment Vehicles/Channels  

• Individual investor
• Collective investment. This can be undertaken by two or more persons by pulling their financial resources together. e.g REITs
• Corporate investment. Also known as artificial persons, corporate bodies can also invest in real estate.

Types of Real Estate Investment

• Purchase of land
• Purchase of a building
• Construction of a building
• Renovation of acquired building
• Estate development

Benefits of Real Estate Investment

• Source of Income
• Provision of Shelter
• Capital appreciation
• Can be used as collateral for a loan facility
• Profitability consideration

Challenges

• Funding
• Investigation of title and cost of perfection of title
• Acquisition by the government
• Natural disasters 
• Wars and hostilities.

Why use generators when you can use Solar power.

What is solar power?

This is the conversion of the energy from the sun to usable electricity

How does it work?

It utilizes photovoltaic cells to convert sunlight into electricity. The photovoltaic cell utilizes a semi-conductor to absorb the radiation from the sun. After the absorption of this radiation, the solar power emits electrons which is then harnessed as electricity. 

NB: A photovoltaic cell (PV cell) is a specialized semiconductor diode that converts visible light into direct current (DC).

Advantages of Solar Power. 

• It is a renewable source of energy i.e. daily renewal of energy.
• It is a sustainable for energy consumption.
• It can be used to generate electricity.
• It is used in heating water with a relatively simple technology. 
• It reduces expenditure required to generate light (e.g. fuel)

NB: Solar panels are a silent producer of energy and therefore require maintenance.

Disadvantages of Solar Power

• Solar power cannot be created at night. 
• There is a reduction in the energy produced during the cloudy days
• The solar panels can be a substantial initial investment, however, after the initial cost is incurred, they create free energy for use. 

Anti-grabbing laws in Lagos. All you need to know.

Why anti land grabbing law will work in Lagos — Mr. Olumuyiwa Jimoh, state lawmaker  Deputy Majority Leader, Lagos State House of Assembly.

Jimoh 

What is the significance of the land grabbing law? 
The land grabbing law is important in so many ways. Hitherto, there was a law that addressed the issue of land grabbing but not directly the way this particular law has done. We had Lagos State Criminal Procedure Law, which is general but considering that Lagos is a megacity and the rate of demand for land and property, we needed to address the problem. •Jimoh We discovered that there is a cartel, which has become so sophisticated in grabbing other peoples’ lands. That is what prompted the House to pass the law addressing directly the issue of land grabbing in Lagos and the law was well accepted by the people because it addresses the fundamental issues. There have been series of controversies between land owners or buyers or people invading another person’s land and with this law, it means that if you get land adequately receipted and documented, it will be difficult for anybody to confiscate your land because the issue of land grabbing has always been there from creation. Though there was a law that addressed the issue, but that very law was too general because it addresses all other criminal matters in totality. But this very law was specific on land grabbing, that is why it is an offence to invade other peoples’ land in Lagos.

How feasible is the workability of this law?
As a lawmaker, I will tell you it is going to work because it is different from all other laws that have been in existence. On the other hand, it is a collective responsibility. We are to make law, it is the duty of the police and other law enforcement agencies to enforce the law. It is now the collective responsibility of everyone to make sure that the law works. We have identified our problem, so the workability of the law lies between you and I and the law enforcement agencies.

Is the punishment appropriate?
It is proportional to what is at stake.  The penalty is a deterrent to subsequent offenders .The essence of the law is to regulate our conducts and our activities so we can live harmoniously. How would government handle the cartel? That is the essence of the law. Some were constituting themselves into a cartel and now taking it as a business. We had to come up with the law based on the petitions we received. This will deter those who are trying to turn it into a profession. The essence of this law is to curb the activities of  those people who see it as a profession.

Has there been anyone apprehended?
It is a new law, it has not been subjected to test but we are watchful in Lagos and we want to make sure that those who break the law are brought to justice.

By Ebun Sessou & Damilola Olabiyisi

Properties for sale in Nigeria are now hotter than ever before.

With a growth of almost 7% in Gross Domestic Product last year, the investment opportunities for real estate in Nigeria have never been greater, for both selling and renting. In addition, real estate sector especially in the middle to lower segment takes part in contributing a significant portion in non-oil sector. Moreover, according to the Finance Minister of Nigeria there is a huge demand for property supply in this country, especially for housing units in locations like Lekki, Ajah and Ibadan. In addition to that, foreign investors in real estate in Nigeria are always looking for new office spaces and commercials buildings.
Buying or renting a property is an important milestone in life. There are many things to be considered when purchasing property for sale in Nigeria since it is a very complex process. Therefore, it is advisable to talk to professionals such as, brokers, real estate agents, or financial advisors. These experts will give you a good insight on what to take into consideration when buying land, a house, apartment, or commercial property.
Furthermore, in the beginning of this year 2014, the Nigerian Mortgage Refinance Company (NMRC) is fighting to lower the cost of property mortgage and to be able to create an affordable living space for Nigerians, with projects such as Lagos Homes. Both the Federal Government and World Bank is taking part to open up a chance for people in the lower segment an opportunity to own a property. These factors have contributed to the increasing demand for properties for sale in Nigeria.

Original post by House of Jumia

Tips to protecting your home from this unending rain

The rainy season this year seems to us to last forever and we can't wait for the scorching sun to come back to our rescue. But before the rains go, I'll leave you with few tips on how to take care of your home to avoid home damages. 

Make use of these tips and keep your family safe. 

Be warm; You first have to protect yourself from the rain before you will be able to take care of other challenges. Always keep your windows shut especially when its rainy to keep the house warm and cozy and after the rain, you can open the windows for ventilation. 

Leaking roof;  Make sure to take care of every leakages at the roof top of your house. If you do not know how to do it, you can require the services of a professional to bail you out.  Ensuring you and your family safety is key.

Cracked walls; This is as important as well not addressing it as a problem could be the beginning of many problems you don’t want. Check every exterior plaster to make sure there are no cracks and if there are, make sure to do justice to them.  

Gutter; Make sure to clean remove dirts from your gutters, because a build up of trash in your gutter can lead to a flooded estate/street. You do not necessarily need a professional to clean up your gutters and it is advised to keep it clean at least once a week. 

Electrical issues: I always advise that one hires a professional on anything one is not too sure of. If you notice any slight fault, DO NOT take it for granted. Call the electrician to come fix it for you. 

Trim overgrown grass or hedges; Not many Nigerians trim their grasses on a norm, but I strongly advise not to take your overgrown grasses for granted this rainy season. Reason is simple. Snakes and other water-bodied animals enjoy this season too, and so can take advantage of this and choose your home to relax. Take time out to trim your hedges!

I hope this was helpful? 

Do you have any tips that was not listed one can use during this rainy season? Share them with us!

#TBT: First Storey Building in Nigeria now 171 years

With its foundation first laid in 1842, and final completion in 1845, the first storey building with location at Badagry is 171 years old..  #throwbackthursday.

Let's Talk Real Estate

We want to hear from you. If you are between the ages of 20 - 34, would you want your parents to buy you a new house? 

(A)          Before nko aka Yes

(B)          No aka I can take care of myself.

Opinion poll counting

CAN YOU REALLY DO WITHOUT REAL ESTATE?

If motivation is driven by the existence of unsatisfied needs, then it is worthwhile for us to understand which needs are most important for individuals. In this regard, Abraham Maslow developed a model in which basic low level needs such as psychological needs (Air, water, sleep) and Safety (Shelter) must be satisfied before higher level needs such as self fulfillment are pursued.

Shelter is central to our existence, without which, one often lose their will to live due to prolonged exposure to environmental elements.

Every second from the home to the office to the streets, its all real estate playing out.

Real estate remains a booming opportunity for Africa-focused investors for good reasons.

1) The growth of Africa's cities creates a demand for increased volumes of high quality commercial and residential real estate.
2) The rise of the urban middle class drives retail property development.
3) A growing number of multinational companies are searching for office space in the newly emerging cities.
4) Africa's population boom is also a burdening factor on Africa's cities. A need for mass market affordable housing.

My question for you today is , DO YOU OWN YOUR SHELTERS?.

Now selling OPEN HAVEN ESTATE and FLOOD GATE ESTATE PROMO. Buy 2 get 1 FREE.

Contact Chemi on 08058059846, 08029058895.
infodeceo1@gmail.com. www.derealtorchick.blogspot.com

Its Official, Our new Estates are available for sale.

This was announced yesterday on the 12th September 2016 at PWAN Homes monthly summit. This summit holds on the 12th of every month to mark the success of deserving consultants.

For more details, visit the company's website. www.pwanhomes.com

SOLD OUT....... MY FAVORITE FOUR LETTER WORDS.

I am happy to announce to you that both estates are currently sold out. This just proves that we are delivering our promises to you. Expect more and more estates soonest. Chao

My First Sale

I am actually posting this because I now recognize the power of social media and social network as strong powerful tools for marketing my business and any business at that. Made my first sale today(dancing), less than 2 months in the real estate business. This just goes to show there is power in social media.

I'll only implore that you my readers help spread the word about my real estate blog through social media of course. Its just a click away.

We Have New Estates Available.

Yay!. We have our new estates available by the New International Airport. More details about inspection and documentation would be brought to you from the stables of this real estate chick. This does not stop you from purchasing.
The estates are OPEN HEAVENS and FLOOD GATES.
They are both valued at 1,500,000 in Nigerian currency.
Get one free when you buy 2.
Call me for details on how you can get yours.

I got one secret for you, it's not been officially announced yet, but will be soonest, but because you my readers are special to me, I couldn't help but spill the gist. Ssshhhhhh, don't keep quiet. Tell a lot of people.

TGIF, Says No Real Estate Chick Ever

Yet another week ended but not for us realtors. Enjoy your weekend readers.

WELCOME

Hi guys, this is my official real estate blog, no additions no subtractions, simply real estate. All information you need to know will be posted here. I have reserved my other blogging platform DeCEO Blog will be used for other purposes asides real estate. Stay tuned to my posts here for details.

Dont fail to contact me for any information you might need. Thanks for your understanding.