Tuesday, July 2, 2013

Nigerian Builder Set to Construct Africa's Next Giant City

 Local News:

LAGOS, Nigeria—Africa's towns are working out of area, prompting a real-estate developer here to erect what could be Africa's ritziest region on a beach long known as a haven for time laborers and beer tipplers.
The shacks that packed the shoreline called Bar Beach are gone, changed by structure tents. People who squatted here were evicted. For the past four years, a Lebanese-Nigerian property developer has hosed sand into the ocean, creating new area for in the offing running routes, yacht jetties and condominiums with helipads for 250,000 opulent Nigerians.

The newest Eko Atlantic township is emblematic of a flourishing business in Africa where developers construct walled-off towns for ab muscles wealthy on a continent that is still the world's poorest.
Designer Gilbert Chagoury, founder of Nigeria's Chagoury Class, is the epitome of Africa's moneyed type: Aside from a friendship with Statement Clinton, whose 1996 presidential strategy he helped fund, Mr. Chagoury offers an ambassadorship from St. Lucia to the Vatican and a gallery in the Louvre named following him and his partner, equally contributors.

Remove with funding from French banks which are enticed by Africa's rapid development, the 67-year-old Mr. Chagoury is looking to top his job most abundant in colossal real-estate project in West Africa.

"That will probably be very same of Champs Élysées in Paris or Sixth Avenue in New York," says David Frame, handling director of South EnergX, a building model of Chagoury Group. He was sitting on a gravel road that will be smooth into an eight-lane boulevard, finishing at a gated quit into the rest of Lagos.
Africa has got the world's fastest-growing towns, based on the United Nations. Their recent metropolitan populace of 450 million is anticipated to triple next four decades.

As vacant area disappears in African-american towns, foreign investors are performing with the creation of new towns out of woods, grasslands and landfill. Investors be prepared to move huge gains from offering Africa's rich places to reside, function and shop away from the failing infrastructure and squalor of previous cities.

But these tasks attended under fireplace from critics who explain that they may certainly not relieve the property disaster striking the majority of the population. In Lagos, few will have a way to manage Eko Atlantic's glass tower condos.

Meanwhile, many of these gargantuan tasks are struggling. Renaissance Capital Economic Holdings Ltd. of Moscow plans to build an area for 62,000 persons on a coffee farm outside Nairobi, Kenya, and a similar-size project on a pepper subject near Ghana's money of Accra.
The coffee farm in Kenya continues to be just that, as Renaissance computes a dispute with shareholders. The project in Ghana is mired in a disagreement between regional chiefs over who owns the pepper field.
China Global Trust and Investment Corp. created a $3.5 million city for 500,000 persons near Angola's money, Luanda. The suburb opened in 2011 but remains a ghost town, as the government strains to market the $200,000 condos to a population whose per-capita money is $6,000 a year.
Mr. Chagoury hopes that Eko Atlantic will soon be different. Project executives indicate Lagos's population of oil-rich elites, which will be both larger than that of Luanda's and readier to cover top money for clear roads and contemporary infrastructure. They decrease to state simply how much Eko Atlantic will surely cost, other to say it will soon be "in the billions" of dollars.
Samuel David for The Wall Block Diary
What the Atlantic structure site seems like nowadays
Their city, Lagos, is crowded and chaotic. Its population develops by seven persons every 10 moments, in line with the U.N., which estimates that Lagos has 11 million persons and is the world's fastest-growing megacity. The Nigerian government sets the city's total population at 21 million.

Even yet in classy neighborhoods, sewage pockets up from open ditches. For want of company systems, countless companies fit their headquarters into moldy midcentury ranch houses. At lunch, many companies turn off their lights to sleep chugging electrical generators. To escape choking traffic, many elites drive by helicopter or yacht.

What small property there is for Nigeria's rising middle income is pricey. Average lease on a three-bedroom house in downtown Lagos is $3,624 a month, in accordance with Dubai-based research organization Reidin. Landlords often expect couple of years of lease in advance, preferably compensated in U.S. dollars. It is a challenge for Nigeria's middle income, whose money averages about $600 a month, in accordance with Renaissance Capital.
Buying is simply as tough. Town files on area ownership really are a chaos, stockpiled or missing. Swindles involving forged brands and the fraudulent purchase of villas are common.
House loans come with double-digit fascination rates. In a nation of 167 million persons, you can find only 20,000 mortgages, in accordance with Nigeria's financing minister, Ngozi Okonjo-Iweala.

To help keep velocity, structure activity increases by 13% a year, according to government statistics. Architect Ade Laoye estimates that Lagos needs at least needs 10,000 extra houses a year.
"We do not have the architects, electricians, bricklayers, designers, the contractors," Mr. Laoye says.
One individual who have sources is Mr. Chagoury, a Nigerian-born structure magnate. He got his first taste of city-making in the 1990s, once the government appointed him to construct a small banana-shaped peninsula now dotted with million-dollar homes.
In 2003, Lagos's government approached Mr. Chagoury with a problem. Waves were crashing around Bar Beach, washing away some of the drug scene, but also flooding shore-side paths and wetting the lobbies of essential Nigerian companies.
He returned by having an provide to build a ocean wall without charge. In return, Lagos's government allowed his company to dredge mud from the underside of the Atlantic Ocean—and shoot it out of a hose to generate 3.9 sq miles of beach.
The sq mile mixed to date is a panorama of mud, resembling the Sahara. Manhole addresses appear several feet above the dunes because the skeletal beginnings of a drainage system. Nearby the water, cranes decline X-shaped blocks to make a ocean wall.
Mr. Chagoury dropped requests for an interview. But challenge professionals say that they curently have distributed all but two of the several dozen making web sites on the sandlot. Consumers program an global school, high-rise condos, spas, headquarters for several fat companies, a conference center formed like the sails of a vessel and a U-shaped office tower called Unity.

Lower-end developers fear such endeavors can inflate the cost of making components for decades to come. An already extended method of getting bricklayers and cement mixers can keep to perform here.
Designers like Michel El Chemor are unapologetic about catering to the utmost effective end of Nigeria's property market. He acquired a plot from Mr. Chagoury for the site's first skyscraper: a $50 million, 24-story residence called Eko Pearl. It will peer out around a marina—and the smog and skyline of Lagos.
"I am sorry to say, but it's chaos in Lagos," he says. "They're likely to need to destroy what they had before and rebuild it, that will have a long time."

Monday, July 1, 2013


NGN 1,500,000  Bedrooms : 5Bathrooms : 5
Buena Vista Estate  By 2nd tollgate View MapSize (m2) : 600Year Built : 2012
Code : Well secured estate - AvailableLot (meters) : 18 X 36
FOR RENT: Brand new and superbly finished 4 bedroom duplex with BQ at Buena Vista Estate, Lekki - Lagos.

- All room ensuite with ensuite boysquarter
- Very clean property
- Serene and secured estate
- Clean and constant water supply
- Stable electricity supply
- Very close to second tollgate, after Chevron roundabout
- One year rent acceptable

Rent: N1.5m per annum

For further enquiries/ arrangement for inspection, please contact:

+234-1-7605148, 08023224585, 08032065685, 08051956996

Nigeria: Qlichy.com Commences Market Roll Out

Local News:

Subsequent increase in traffic to internet sites on the site, Qlichy.com, an on the web organization networking system, has introduced their market throw out and subscription options for corporations and individuals.
The shift is coming on the pumps of a fruitful release of their on line and radio campaign as well as news of actress, Mrs. Funke Akindele-Oloyede, as manufacturer ambassador.
Qlichy.com is a multi-site organization site, information support and e-commerce system, that is linked to the Interswitch system for payment purposes. The system has been experiencing growing patronage and traffic because their release in April. Qlichy.com presents access to programs like Bizpoint, Talkpoint, Salespoint, Playpoint and Thoughtpoint for corporations and people to generally meet and interact.

Announcing that in a press record introduced in Lagos, Controlling Manager of The Quadrant Business, parent company of Qlichy.com, Mr. Bolaji Okusaga, said that "Today, we formally announce the commencement of Qlichy.com market throw out. We thus delightful subscription options for corporations and individuals. The need for it has become essential with the growing traffic to the different portals of Qlichy.com and we have been able to trace that to the market penetration and manufacturer making techniques that people have caused because April when Qlichy.com formally released in Lagos.
"Qlichy.com offer substantial options including organization intelligence and social commerce given the ability of the system to provide a seamless knowledge which pieces across organization information, e-commerce and life style, which were prior to this fragmented in the Nigerian on line space to enterprises across different sectors of the economy, be it customer things, oil and gasoline, real estate, telecoms and economic sectors amongst others," Okusaga said.
Akindele-Oloyede was introduced as Qlichy.com manufacturer ambassador at a press event that presented in Lagos recently as the most recent market penetration strategy and manufacturer making strategy. It followed a formal release and Area hurricane, which presented in April and May possibly respectively.
Speaking on the event, she remarked that "I'm delighted to be associated with Qlichy.com and consider it an honour to be the manufacturer ambassador. The Qlichy manufacturer besides being the greatest electronic meeting place and reference middle, it is the future. I state that because this new system may empower a lot of people."

She included that "I admire the thought process behind it and this is exactly why I'm thrilled to be part of the Staff Qlichy.com. I'm persuaded that it may empower a wide range of people, this is the reason I enjoin all organization operators, homeowners, material developers and reference people to become listed on me on Qlichy.com site," she concluded.

"Qlichy.com offer substantial options including organization intelligence and social commerce given the ability of the system to provide a seamless knowledge which pieces across organization information, e-commerce and life style, which were prior to this fragmented in the Nigerian on line space to enterprises across different sectors of the economy, be it customer things, oil and gasoline, real estate, telecoms and economic sectors amongst others," Okusaga added.

Nigeria Senate claims to focus on affordable housing

The Vice Chairman, Senate Committee on Property and Metropolitan Progress, Senator Gbenga Ashafa, has certain Nigerians that attempts are being built to produce the country's structure business with specific concentrate on inexpensive housing.
Ashafa talked during the 57th Annual Standard Conference and Structure Market Exhibition of the Federation of Structure Market in Abuja recently.
The News Firm of Nigeria reported that while declaring the three-day exhibition open, the senator emphasised that structure, unlike simple buying and selling, required a lot of homework, dexterity and perseverance
He said, “It is important to state here that the Senate, through their Committee on Property and Metropolitan Progress, is working hard to bring concerning the much needed development in the structure business in Nigeria, particularly the provision of reasonable and inexpensive houses for all Nigerians.
“All of us know that shelter is one of many three physiological wants of man without which man can not purpose efficiently and effectively.”
Ashafa also prompted stakeholders to always take advantage of the best components in creating construction.

Saturday, June 29, 2013


NGN 120,000,000  Bedrooms : 5Bathrooms : 6
Off Admiralty Road   View MapSize (m2) : 500Year Built : 2013
- AvailableLot (meters) : 36 X 72
FOR SALE: Brand new and superbly finished 5 bedroom townhouse Off Admiralty Road, Lekki - Lagos.
- All room ensuite with courtyard
- Two (2) Sitting rooms
- Very clean property
- Serene and secured area
- Clean and constant water supply
- Stable electricity supply
- Very close to Tantalizers in Lekki
Price: N120 million
For further enquiries/ arrangement for inspection, please contact:
234-1-7605148, 08023224585, 08032065685, 08051956996

Need for SA property from Nigeria

 With the Rand hanging across the R10 to the US Dollar, home in South Africa has become a actual bargain. The greatest amount of enquiries attended from Nigeria where the oil boom has resulted in really well-heeled entrepreneurs seeking greener pastures. Michael Steffers, handling director of Krugersdorp-based Pinnacle Home Brokers claimed he had numerous enquiries from many different nations and the need was particularly solid from nations in Africa. "We've notched up a few ales of upmarket homes in gated estates throughout the West Rand.

"Because we deal primarily with home to the West of Johannesburg, home costs are substantially less than in almost every other towns in South Africa.
Which means that consumers get substantially more value for his or her money. The quick devaluation of the neighborhood currency has started off something of a mini home boom and we presently have significantly more consumers than vendors," he said.

Upmarket homes on the West Rand have been in need for quite a while by pensioners in particularly southern Europe who're seeing their pensions and other benefits erode consequently of austerity actions presented by the European Union. Many of the numerous enquiries he had all through November and December last year from Europeans who have been on christmas in South Africa and who have been seeking to resettle have resulted in sales.
"Obviously the truly well-heeled crowd are looking at the Western Cape including the winelands and the Natal South Coast.

"For the hard-pressed Greeks, Spanish and Portuguese nationals, something that offers substantial greater affordable and are at once economical has brought the West Rand into sharp focus.  "Giving a number of the cheapest rates per sq metre for upmarket homes anywhere on earth, we have been marketing houses and townhouses in upmarket parts like Noordheuwel, Featherbrooke and Chancliff in Krugersdorp while homes in Constantia Kloof, Ruimsig and Helderkruin in Roodepoort have been moving quickly," Steffers said.

The greatest amount of enquiries attended from Nigeria where the oil boom has resulted in really well-heeled entrepreneurs seeking greener pastures.
"South Africa has for quite a while today been popular with Nigerians. The customers we get from that location are usually really well-off consumers who often want to buy a swish townhouse as a holiday home or as a secure haven."

The fact that bonds are reasonably common if the buyer is able to ante up a considerable deposit is an additional component that makes the country a stylish proposition as is the truth that curiosity rates have reached historic lows. He explained South Africa offered enormous benefits for consumers from creating nations in Africa.  "The extremely produced state of our infrastructure is just a solid bring card and the truth that they're generally built to feel really welcome with recognized Nigerian towns across South Africa makes South Africa a very attractive proposition for them," Steffers said.
Over all rates range between just around R1-million to homes in the R3 million to R4 million range.

"We see many a great deal more simple homes - mainly in older suburbs -selling for substantially lower prices."  "We're today looking at setting up a operation in Nigeria from wherever we will be able to support the whole of West Africa. We have presently received enquiries from property brokers in areas of Europe who wish to industry our home portfolio."
A positive reality for international consumers is that home rates, based on nearly all indices, have reached most useful flat with an identical prospect planning forward.

Still another good part of buying home in South Africa is the truth that South Africa was viewed as a secure haven with a stable democracy free from conflicts and cycles, Steffers said.
At the the surface of the record are consumers from Nigeria and Uganda with solid curiosity from Francophone nations such as the Ivory Coast. - Sapa 

Private Property,

N4.3bn proceeds from sale of Nigeria's Washington Property properly accounted for – Ministry

The International Affairs Ministry on Friday denied media studies on the so-called misappropriation of $27 million (N4.3 billion) arises from the purchase of Federal Government house in Washington DC.
A statement given by the ministry solved that $23.5 million (N3.8 billion) was realized from the purchase of the three federal government-owned house in Washington DC between 2004 and 2007 and not $27 million as reported.
It said all charges mixed up in purchase were duly and totally accounted for and that former leader Olusegun Obasanjo duly authorised the sale.

On Thursday, the Senate Committee on International Relations done a “community hearing''to examine allegations of the embezzlement of $27 million, adhering to a petition by one Daniel Elombah.
People reading was attended by Nigeria's former ambassador to the U.S., George Obiozor; the incumbent, Ade Adefuye and; Nigeria's Lasting Consultant to the U.N in New York, Pleasure Ogwu.
People reading was, nevertheless, held behind closed opportunities after the Chairman of the Senate Committee, Matthew Nwangwu (PDP-Imo), declared the event open.

The statement by the ministry noted that the “press were not privy to the detailed submissions of the three distinguished diplomats.”
“Without prejudice to the findings of the Committee, we state, that the purchase of these qualities were duly authorised at the highest stage and that no finance was ‘missing'as alleged. We, therefore, need that persistence be resolved even as we await the final report of the Senate Committee's research in to this issue,” the ministry said in the statement.

Private Nigeria Property jobs - Plumber in Lagos Needed

Minimum Qualification
High School (S.S.C.E)
Required Experience
1 - 3 years
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Application Deadline
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  • At least 1 year experience
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Friday, June 28, 2013

Nigeria Property: The best property in The World.

Nigeria Property