Category: Building & Properties

  • ‘Economic crunch is reason you must own your own house’

    The Executive Directors (EDs) of Pertinence Limited, owners of ABC and VIP Gardens, have charged low income earners in the country to be resolute and not relent in their efforts to own their own homes, irrespective of the current downturn in the nation’s economy.

    They expressed this view at a recent land ownership promo launch organised by the firm at the International Trade Fair Complex in Lagos.

    One of the EDs, Mr. Sunday Olorunsheyi, noted that shelter, after food, ranked second in man’s hierarchy of needs and as such required serious attention.

    This thinking, he explained, is the reason the company usually holds promos to offer affordable price regimes for low income earners to own plots of land, while also giving some plots out for free to lucky participants.

    He contended that the economy may be distressed, but rents are rising higher; hence,  what is wise, according to him, is to start thinking of how to own personal homes rather than keep paying high rent.

    “So, despite the economic crunch, real estate investment is still the way to go. Again, this is not just about now, but also for posterity. Some people, who had plugged into real estate years back, can’t  feel the crunch because the prices of their properties are not depreciating,” he said.

    Olorunsheyi added that his firm operates by the core value of empowering people to own their homes by providing required motivation through promo launch and free land offers.

    On the firm’s foray into the southeast region of the country another ED of the firm, Mr. Wisdom Ezekiel, said the new Southeast estate locations being offered to customers at the Trade Fair Complex was both an expansion drive and in response to customers’ calls.

  • 200 units ‘Garden Heights’ estate inaugurated in P/Harcourt

    Port Harcourt Gardens Limited, a real estate development company in River State, has launched its multi-billion naira Garden Heights Estate in the state. The estate, which consists of over 200 housing units, is located in GRA Phase 3, Port Harcourt.

    The estate, which was inaugurated by the Rivers State governor, Nyesom Wike, represented Phase 1 of the project, with about 24 housing units, which comprised studio, one, two and three-bedroom apartments, including semi-detached bungalows and fully detached duplexes.

    At the inauguration of the project, Governor Wike commended the management of the estate for its vision in changing the face of middle class residential housing in the state and for supporting the effort of the government in meeting the housing needs of the people.

    He lauded the firm’s courage to invest in the state and promised that his administration would continue to partner credible investors with unique plans for the advancement of the state.

    “I am, particularly, impressed because the developers of this project were groomed in this state. They returned because they have confidence in what this administration is doing in terms of creating an enabling climate for businesses to thrive. Rivers State currently counts for one of the highest returns on investment in the country, despite a few challenges being experienced recently,” he said.

    The firm’s Managing Director, Mr. Uche John, explained that Garden Heights is set to become the focal point of reference to luxury living in Port Harcourt with facilities that offer security and comfort at an affordable price to the middle class socio-economic strata of the state.

    “Garden Heights is one of the best real estate investments in the Nigerian market presently and offers a return on investment unmatched anywhere else in this area. With just an initial deposit of N3.5million you can own your dream home, which combines the unique architecture with attractive natural scenery,” he said.

    John called on Nigerians to take advantage of the opportunity the firm was offering the public to own a decent home, especially the special price offer being made available on the ongoing four housing projects in the city.

    “Port Harcourt Gardens is a private real estate development firm established with the vision to change the middle class residential housing real estate market by delivering premium affordable residential housing to the citizenry of Port Harcourt and the entire Southsouth region. Currently, we have four estates of similar sizes in Port Harcourt located at Woji, Eliozu, Airport Road and this particular one in GRA being inaugurated today,” he said.

    On completion, the four estate projects by the firm is expected to deliver a total of 600 housing units to residents of Port Harcourt.

  • Stakeholders seek investment in retail malls

    Stakeholders in the real estate sector have called for greater investment in retail malls. The call is coming against the backdrop of a report that showed that demand for space for retail malls in the country has increased by 905 per cent in the last 10 years.

    The call, according to them, is necessary considering that the sector has had a turbulent time since last year, leading to a lull in housing development.

    Broll Nigeria Chief Executive Officer, a real estate services company, Mr. Bolaji Edu, who gave the percentage at a roundtable to discuss the growth prospects in the retail industry, observed that from just two modern shopping malls sitting on 30,000 square metres in Lagos, the retail arm of the sector has grown to over 300,000m2 last year and is projected to reach 301,780m2 by this year end. And despite the current economic challenges, the retail arm still offers more growth and opportunities. The event was tagged: “Retail Industry: 10 Years from Now.”

    “The last 10 years have seen a boom in retail real estate and the country now boasts of over 300, 000m2, which represents a 905 per cent growth,” Edu said.

    Although there are challenges to malls development in the country, especially in terms of prospects of turnover, funding, slow take-up rate, and restricted access to foreign exchange (forex), as well as the ban on items directly linked to real estate from the official forex window, and weakening naira on the black market, among others, real estate experts still believe that the retail arm of the sub sector offers vast opportunities for employment generation. One of them is Head, Real Estate Finance, West Africa, Stanbic IBTC, Mr. Adeniyi Adeleye, who urged prospective investors to have confidence in the retail arm of the industry.

    Adeleye’s position was supported by the submissions of the Retail Portfolio Executive, Broll Nigeria, Mr. Gavin Cox. According to Cox, over the next six to 12 months, there will be little growth in rents because  retailers will have to struggle under the current economic situation, while demand for rental space is expected to fall until the business environment improves for retailers.

    “Future development must look at new designs and how they are put together as well as energy efficiency. We also have to make case for smaller malls,” Cox said.

    Speaking from a developer’s perspective, the Development Manager, Nigeria, RMB Westport, Mr. Wallace Wilkins, observed that there remains huge growth prospect in the sector, but the challenges to be addressed included infrastructure; supply chain; finance, especially repatriation of proceeds; and bringing the right retailers on board.

    But in spite of this growth, the Director, Actis, an investment company, Mrs. Funke Okubadejo, however, said the penetration of the retail segment had been very low. She noted that stakeholders in the industry must educate people on what retail is, so as to change their perspective on retail space, considering that other countries see retail as a huge investment for job creation.

    The one-day event focused on the emerging trends in the intersection of the dynamic interplay of developers, retailers and financers in running their operations in a symbiotic model that results in a win-win situation for every party.

  • Stakeholders extol $25m Maryland Mall

    Stakeholders extol $25m Maryland Mall

    •’It’s a boost for economy’

    The commercial arm of the real estate sector is living up to experts’predictions. At the beginning of the year, realtors said shopping malls and office space sector will be more active in the industry. Across the country, it is common to see shopping malls, office buildings and or commercial buildings springing up.

    This trend, it is believed, will boost the retail activities penetration in the country. Available statistics revealed that only two per cent of Nigerians shop in formal retail supermarkets compared to 60 per cent of South Africans; 30 per cent of Kenyans; four per cent of Ghanaians and two per cent of Cameroonians. Similarly, retail trade accounts for about 30 per cent of the world’s gross domestic product, (GDP). This is about $22 trillion of retail sales yearly.

    Yet, the government data shows that Nigeria attracted over $1.5 billion in investments into its formal retail sector over the last three years. It is estimated that over 80 million Nigerians now live in metropolitan areas, creating huge opportunities for formal retail to thrive. One of such retail outlets that has keyed into this prospect is the Maryland Mall, located on the Ikorodu Road axis in Lagos.

    The project, said to have cost about $25 million, was inaugurated in Lagos last week. It was developed by Purple Capital Partners Limited, a financial and real estate development company. It has been described as unique in design and rendition, especially because of the commendable use of space as the mall is springing up in a built up area and designed to fit the space available through mainly vertical development.

    The Maryland Mall sits on 7,700 square metres (sqms) of prime land in a built-up neighbourhood which used to accommodate the Maryland Shopping Complex. It has a gross lettable space of about 6,400sqms and it is built vertically, compared to the horizontal buildings that is the style in this clime. Logistics, such as movement to and around the mall has been made easy after studies carried out by the promoters with the Lagos State Ministry of Transport, with an estimated 5,000 cars passing by hourly.

    A dedicated underground car park, said to be the first within any mall in the country, provides ample space for cars. Already, a mix of local and international brands anchored by Shoprite, The Place restaurant, Stanbic IBTC Bank, among other retail, hospitality and entertainment brands, have found a home in the Maryland Mall. The exterior of the mall will be a 550 square meter LED screen, the largest in Sub-Sahara Africa. This unique feature will set it apart from any other retail complex in Africa’s most populous nation.

    Purple Capital Partners Limited Chairman, Mr. Omotola Mobolurin, expressed delight at the  opening of the mall, especially because of its benefit to the economy.

    It is particularly gratifying that the construction and financing for this retail development is being concluded on time and within projected funding estimates,” Mobolurin said.

    The Maryland area aptly illustrates the various realities of city life. Located right in the middle of mainland Lagos, Maryland has been a residential district and a hectic hub of social activities for decades: it is also an economic and commercial nerve center; a major intersection connecting citizens and visitors alike to the major thoroughfares across the city, and an exhibit of the city’s quest for affordable, urban development.

  • ‘Land Use Act has no problem, but…’

    ‘Land Use Act has no problem, but…’

    Is there anything wrong with the 39-year-old Land Use Act? No, says the Nigerian Institute of Surveyors (NIS) President Akinloye Oyegbola, who argued that the problem with the law enacted in 1977 lies with its operators and not the legislation. He is worried that the country does not check structures for flaws, leading to  building  collapse. He advocates more use of surveyors, insisting that over 60 per cent of the country’s roads require  their contributions. Oyegbola speaks on these and other issues with MUYIWA LUCAS. 

    The Land Use Act has remained contentious among stakeholders.  What is your take on the Act?

    More often than not, when something is controversial, a lot can be derived from it. It is not going to be easy for a land owner to embrace the Land Use Act in its entirety, whereas it is expedient for the government and the people to have it so that it can engender proper development of the land. So, you can be sure that we will always have those divergent views; but then one would always have the upper hand and which will be more beneficial to the people. So, it is not the Land Use Act itself that has problems, it is those who are operating it. This is because the Act has made it in such a way that to a very reasonable extent, the land owners would have been satisfied to an extent (it cannot be in its entirety because something is being taken away from them), because the Act made it in such a way that there are conditions for which a land can be taken by the government. The problem is that have those conditions been met on the part of the owners? If not, then they become areas where people can come in and probe. But the Act has tried as much as possible to bring in palliatives to a reasonable extent, which if executed to the letter, would make the land owner feel better. But what we have now on ground is the abuse of the Act, which is causing the problem.

    The Lagos State Government recently announced plans to jail land grabbers. Do you think this will solve the Omo Onile problem?

    Incidentally, land grabbers are not Omo Onile. The Omo Onile is the land owner; and we own land by history because land is not manufactured. So, ownership of land is by history and so some people will always say they own it because their fore fathers may have dwelt there several centuries ago. The land grabbers are either their agents or speculators, who believe they know too much about land in a particular area and they are now using the inadequacies in the process to their own advantage. Land grabbing starts as an attempt. That is not to say we do not have people, who genuinely stand as agents between the seller and buyer. Their activity is just like any other offence. So, if their activities is on the wrong side of the law then they must be punished.

    How can a surveyor help in the economics of land, especially in areas where there is acute shortage of land?

    Basically, by the time a surveyor does the cadastral work properly, he has helped a lot, economically. This is because when he demarcates land properly, there is very minimal level of litigation. A surveyor also helps to cut cost in terms of compensation payment to property owners whose property may be demolished for road or railway construction because the surveyor would have been able to properly mapped out the land areas long before construction started. Generally with Lagos, from time to time you can only enhance the economics of land by the way you manage it; how you zone it for the respective needs of the people. More often than not, because Lagos is a coastal town, you see a lot of sandfilling and dredging. But before you even dredge, there would have been a kind of hydrographic surveying to know the sea bed. While doing the dredging, you also need a surveyor to tell you how far you can go. We believe that with a proper deployment of the surveyor, so much can be saved in terms of cost.

    The Federal Government plans to produce a million units of housing yearly to tackle the housing deficit. What should be the role of surveyors in this initiative?

    The role of the surveyor starts from the concept itself because whatever has to be done about housing is on land. For instance if Lagos State says its wants to do something on land, it has to know what it has before it can use certain part for certain projects. A surveyor will tell you what you have before you determine what you want to use for what. A surveyor is involved from the conceptualisation, to development.

    Building collapse is of great concern now.  How can surveyors help to stem the tide?

    For anything that has to do with height, there is a need for surveyors’ involvement. Even after a structure has been put up, especially if it is massive or a high rise, there is a need to monitor deformation. We have not been monitoring structures for deformation. We monitor dams for deformation, but we have not been monitoring structures. There is a need to monitor for deformation of structures, especially if you have to stockpile to construct a building. Look at our bridges for instance, how often are they monitored for deformation? It doesn’t need to be visible before you see deformation if you monitor well because if it becomes visible then it becomes more dangerous and expensive to repair. Collapse of a structure doesn’t happen overnight; if structures are properly monitored then there won’t be collapse.

    To a lay man, surveying is simply measuring of land.  How do you regulate the practice of surveying in Nigeria?

    Surveying is one profession that has a very old professional body; it is among the oldest professional bodies in the country. It dates back to 1934, with the renowned nationalist, Herbert Macauley as its leader. Its name then was “Licenced Surveyors’ Association” (LSA); in 1960, the name was changed to Land Surveyors Association of Nigeria, with late Surveyor C.T. Olumide as its chairman. It was in 1966 at a surveyors’ conference in Enugu that the name Nigeria Institution of Surveyors (NIS) was adopted.

    By virtue of the age of the profession and its practice, it has gone through thick and thin. What we have on ground now is a regulatory body, which is called “Surveyors Council of Nigeria” (SURCON), which took off in 1989 under Cap 425. Before then we had the licensing board as the regulatory body. SURCON has been involved in the regulation of the practice and the certification of surveyors. But that is not to say that the professional body does not do anything about regulation. Under our constitution, the body has its ethics rule guiding members. So, an erring member could be punished under the constitution of the association, but when it comes to the issue of serious misdemeanour that may even involve the withdrawal of practicing certificate, because the association did not issue you the practicing certificate, then it cannot withdraw it. The association will only report to the regulatory body. When such gets to the regulatory body, it would first go through the surveyors investigative panel (SIP), who investigates and refers to the disciplinary committee. At the disciplinary committee stage, the surveyor has a right to appear with his lawyer so that there is proper hearing. We expect that anybody, who has anything untowards perpetrated by a surveyor could either report to the association or to the regulatory body. None of these two bodies will pamper a surveyor for not adhering to the practice of the profession as appropriate disciplinary action would be taken after due investigation of the case.

    Is there any acceptable standard for land measurement or gauge?

    Basically, for the surveyor and as a practitioner, there is no standard measurement. A parcel of land is a parcel of land. But by talking of gauge, it depends on the kind of development you want to have on the land. We have different types of development for different areas, which is the exclusive preserve of the Town Planners- they do the zone and others and they determine what should be where. We, as surveyors, also assist in this because we would have provided so much information about the land to be developed. But basically, the Town Planners determine what can be put on a parcel of land at a particular time.

    What are the challenges of surveying?

    Like I said, the underdevelopment is a major challenge for fulfilment for practitioners. Although that is general, that is just surveying. But in surveying, the cost of what I had just talked about earlier that the practice itself does not advertise itself. One major challenge we have is that it’s every now and then we need to continue to let people know what the surveyor can do. Interestingly, people have limited the input of the work of the surveyor in the development of the country to a very streamlined section and it is just out of ignorance and that’s why we have to go out and let them know that there is still a lot even in the face of the gross underutilisation that we are talking about, there is still a lot that is being left out that the surveyor can still do. And you will now find out that more often than not even the professionals, who know that they are supposed to put in surveyors on those things because they know they can’t do it but the people, who assign them or commissioned them to do it, may not know that they needed a surveyor. And because that one doesn’t know, he won’t specify the kind of surveyor that should do the job.  So, he goes out to look for a less qualified hand to do the job for him because he doesn’t want to pay well and that was why one of the recommendations I made then when I appeared before the House Committee on Works during the debate on the road maintenance agency bill in 2001, was that when turnkey projects are been given out, it is good for the agency or government giving it out to specify who does what and with what experience and what is he going to be paid. When that is specified and there is no adherence to it, then you could easily identify what the problem is.

    There seems to be deafening silence from the NIS in terms of making contributions to national issues. How do you react to this?

    For one to be able to solve a problem, then there is a need to really understand the problem. I had thought over and over again about this impression you have just observed and one thing I have found out is that every profession has its own peculiarity in terms of their practice. What I have found out is that the profession of surveying is not self-advertisng. For instance, when you see a good structure, what comes to mind is that an architect has done a fantastic job on it, even before the engineer that saw to the structure being where it is for people to see. Those are professions that people can see what they can do. For instance, whatever might have gone into that same structure, in terms of the survey will not be obvious at that particular time. I have made up my mind that if the profession does not advertise itself then our own drive should be far more than those in the allied profession. So, it means we have to redouble our efforts in terms of publicity and enlightenment that would enhance the image of the profession and that is exactly what I am up to.

    Surveying cuts across a lot of human endeavours, but just like any other profession in Nigeria, there is gross under utilisation of the profession generally and surveying cannot be an exception. What the surveyor is known for is just cadastral surveying- which is a negligible fraction of what the surveyor can do. For instance, nobody thinks the surveyor is involved in road construction, railway construction, and anything that has to do with movement from one place to another. In any construction, the surveyor has to be on site, whereas an engineer may not necessarily be there, but just come in from time to time to ensure compliance to specification. But then, that sticking to the specification is ascertained by the presence of a surveyor. So, a surveyor has to be on a construction site all the time to be able to say that a predetermined level for every stage of the job is being adhered to. For instance, in road construction, in terms of level and alignment, it is not just alignment, it is the different levels that you want to maintain so that you have a road that has the required exploitational value. For instance, if you see a road that has flexible pavement (it tar) and there is coagulation of water on it then it means the levels where not well taken care of when it was being constructed. That is why the surveyor has to be on site always. Let it be noted that 60 per cent of roads constructed in the country has the input of a surveyor.

    In this context, who is a surveyor?

    In the past, before the advent of the incursion of the computer into all professions, when it was still very analogue, we would say the surveyor is a person trained in the science and art of taking measurement on the surface of the earth, in the water and also in the space. Such measurement are well taken and they depict the position of land and man-made and natural features on it so that when it is to be used for whatever purpose, you will have so much information on it for proper utilisation when the need arises. But now, with the advancement of technology, we have found surveyors being involved in not just the acquisition and the presentation of information on the land, surveyors are now involved in the management of even the information-that is, in the area of geo-informatics. This is called geographical information system (GIS).

  • Excellence Estate to redefine class, quality

    Excellence Estate to redefine class, quality

    A new low-density community is evolving in Arepo, off the Lagos-Ibadan Expressway in Ogun State.

    The community, known as Excellence Estate, is close to the Journalist Estate at Arepo. It aims to replicate the ambience of the old Ikoyi, Lagos  State, with lush green areas in tandem with climate change.

    Estate developers on the Lagos-Sagamu axis of the expressway are beginning to add a touch of classy designs in their construction to ensure faster uptake.

    Excellence Estate is about 15 minutes’ drive from Alausa, Ikeja, Central Business District. It is being built on 20-acre of prime land, with construction at an advanced stage. The estate is a combination of horticulture and aesthetics. It comprises homes that are fully detached, semi- detached, terraces, and block of flats. It is subdivided into two; the built-up area, which is about two- thirds of the land, and the site and services plots that form about one-third of the land.

    Other facilities that would be fitted into Excellence estate would include, a shopping mall, church, mosque, school, hospital, corner shops and the recreational facilities like the park/green park.

    According to the promoter of the estate, and Managing Director of Inclusive Concrete & Engineering Limited, Misbau Aminu, construction work will take three years and prospective investors would get a million naira payback deal on construction cost.

    The pay back deal, Aminu explained, is an incentive given to buyers into the project, which is in form of discounted amount that will be given to them during construction of the buildings. These will include but not limited to expertise services, cement provision that will be provided to at discounted rate. He assured that his company would bring its wealth of experience in various field of construction in both the public and private sectors to bear in development of the Estate.

    Prospective investors, The Nation learnt, can key into the scheme at various stages. For instance, buildings in the state could be bought in stages either as carcass, semi-completed, and completed. The completed building is, however, targeted at Nigerians in the diaspora who are expected to buy and just move in.

    The carcass stage of a 3-bedroom apartment goes for N9 million; semi completed stage of same sells at N12 million; while the completed stage of the apartment goes for N16 million. The fully detached comes with two boys quarters (BQs) and sells for N24 million at carcass stage; N34 million at semi completed stage; and N45 million at completed stage.

    Others include the semi- detached with a BQ at N17 million carcass stage; N23 million for the semi completed; while the completed building goes for N31million. The terraces also come with a BQ at N12 million at carcass stage; N14 million at semi completed stage; and N17 million for the completed building.

    The promoter is also offering flexible mode of payment with 30 per cent upfront payment, while the balance is spread through 18 months. The estate project is being financed by Zenith Bank. However, the structural elements of these buildings are not negotiable, he said.

    “The regulation will begin from foundation, frame structure, slabs, among others, in order ensure the security of the buildings,” said Aminu.

  • Lafarge Africa commits to safer environment

    Lafarge Africa commits to safer environment

    •Inaugurates logistics academy

    Lafarge Africa Plc has pledged further commitment to ensuring safer environment in its business operations.

    To this end, the firm, last week, inaugurated a logistics academy at its Ewekoro cement plant in Ogun State.

    The academy to train and upgrade  drivers’ skills, transport firms’ owners, employees and other stakeholder groups in the logistics process of its cement business, is situated across four locations in three regions of the country where the firm operates.

    According to the Managing Director, Lafarge Africa, Mr. Michel Puchercos, the academy is in line with the company’s vision to build a stronger Nigeria safely, ethically and sustainably through innovative construction solutions.

    “One of the ways to achieve this is through the safe delivery of our products across the country. We commit to operational excellence, enhanced  quality of logistics services, strong road transport safety management, and attainment of our overall safety objective of Clean, Green, Zero Harm environment,” he stressed.

    Puchercos explained that the initiative would impact the firm’s business positively and aid in achieving the desired Operational Performance Improvement.

    The scheme, he further said, would focus on three ‘Ps’- People development; Process efficiency and Performance improvement – factors, he explained, are driven by the pillars of drivers training and development, contractors/transporters development, and logistics staff training and development.

    The Logistics Director, Lafarge Africa Plc, Mr. Hans Mielants, argued that the majority of accidents   on the roads were avoidable. This, he said, was why key logistic stakeholders must continue to develop the requisite skills and constantly enhance their levels of professionalism, which will ultimately make the environment safer.

    He said the Lafarge Africa Plc, is, through this initiative, proactively closing this gap and raise the required level of proficiency for sustained improvement of business and the environment.

    It will be recalled that the firm, in May 2014, launched a Drivers’ Academy for the engagement of certified drivers, who would have passed through a systematic qualification process.

    The successes recorded from this effort, as well as the urge to continue to improve its safety records, Puchercos explained, culminated in the launch of the more, inclusive Lafarge Africa Logistics Academy.

  • Lagos to relocate Olusosun, other dumpsites

    The Lagos State Government  plans to relocate dumpsites in the city.

    The Olusosun dumpsite in Ojota and Solos dumpsite will be shut by the end of the year, to pave way for a new waste management regime  from January 1, next year.

    The Commissioner for the Environment, Dr. Babatunde Adejare, broke the news last Tuesday during the monthly media parley in his Alausa, Ikeja office.

    According to Adejare, the new waste management regime will be “holistic and cover every aspect of waste management.”

    The Nation gathered that the effort is part of the ministry’s master plan  to re-engineer waste management in the state.

    Adejare said the state has  declared a “final zero tolerance” for violations of environmental laws especially those infringing on the right of way- either of the roads,  walkways, rail lines and drainage channels. The  government, the commissioner said, would demolish all illegal structures and attachments outside  designated markets to ensure free flow of storm water and  avert flooding.

    With its ever-rising population, Lagos,  he said, could not afford to compromise safety by allowing obstructions of access to markets, rail lines, roads and drainages. To do otherwise would amount to allowing flood  water to stagnate and cause malaria and other diseases, the commissioner said.

    He warned that it would no longer be business as usual for street traders who  obstruct traffic, commit heinous crimes and endanger public safety, adding that street trading does not befit the hard-earned reputation of the state.  He regrets that street traders and hawkers, Adejare said had been degrading the environment, parks and gardens, as well as encouraging crimes and  causing traffic gridlocks.

    “Our state is a centre of excellence and we shall not allow a few  unscrupulous groups or persons that indiscriminately dump refuse on our  roads and blocks our drainages to go without stiff sanctions. Their habits portend dire consequences for our health, traffic, safety and  security of our people,” he said, adding that  the buyers and sellers would face  the same sanctions.

    The government the commissioner said, was aware that people must make a living, but this should not be at the expense of the lives  of others.

    He said fines, seizure of goods, non-custodian penalties community service involving washing of public  toilets, cutting of grass, sweeping of roads, cleaning of drains and carting away of refuse to dump sites were some of the proposed.

  • N25b Maryland Mall to boost economy

    N25b Maryland Mall to boost economy

    The commercial arm of the real estate sector is living up to experts’ predictions. At the beginning of the year, realtors had made it clear that shopping malls and office space will be the arm that would be more active in the industry. Across the length and breadth of the country, it is now a common sight to see shopping malls, office buildings and or commercial buildings springing up.

    This trend, it is believed, will boost the retail activities penetration in the country. Available statistics revealed that currently, only two per cent of Nigerians shop in formal retail supermarkets compared to 60 per cent of South Africans; 30 per cent of Kenyans; four per cent of Ghanaians and two per cent of Cameroonians. Similarly, retail trade presently accounts for about 30 per cent of the world’s gross domestic product, (GDP). This is about $22 trillion of retail sales each year.

    Yet, government data shows that Nigeria attracted over $1.5 billion in investments into its formal retail sector over the last three years. It is estimated that over 80 million Nigerians now live in metropolitan areas, creating huge opportunities for formal retail to thrive. One of such retail outlets that has keyed into this prospect is the Maryland Mall, located on the Ikorodu Road axis in Lagos.

    The project, said to have cost about N25 billion, was inaugurated on Tuesday. It was developed by Purple Capital Partners Limited, a financial and real estate Development Company, attracted since been described as being unique in design and rendition, especially because of the commendable use of space as the mall is springing up in a built up area and designed to fit the space available through mainly vertical development.

    The Maryland Mall sits on 7,700 square metres (sqms) of prime land in a built-up neighbourhood which used to accommodate the Maryland Shopping Complex. It has a gross lettable space of about 6,400sqms and it is built vertically, compared to the horizontal buildings that is the style in this clime. Logistics like movement to and around the Mall has been made easy after due studies carried out by the promoters in collaboration with the Lagos State Ministry of Transport, with an estimated 5,000 cars passing through every hour. A dedicated underground car park, said to be the first within any mall in the country, provides ample space for cars. Already, a mix of local and international brands anchored by Shoprite, The Place restaurant, Stanbic IBTC Bank, amongst other retail, hospitality and entertainment brands, have found a home in the Maryland Mall. The exterior of the mall will be a 550 square meter LED screen, the largest in Sub-Sahara Africa. This unique feature will set it apart from any other retail complex in Africa’s most populous nation.

    Declaring the Mall open for business, Mrs Onikepo Akande, President, Lagos Chamber of Commerce and Industry (LCCI) noted that retail is one of the cornerstones of trading and investment, and Purple Capital, the developers of Maryland Mall, have done extremely well to give Maryland a new lease of life through this retail investment.

    “It is my sincere belief that this new mall will help to expose and grow the manufacturing and commercial potential of Lagos state and by extension, the national economy,” Akande said.

    As Nigeria’s industrial and commercial capital, Lagos is expected to lead the national count for modern shopping malls over the next decade, in tandem with the city’s fast growing population, currently put at anywhere between 17 and 20 million people.

    The Chairman of Purple Capital Partners Limited, Mr. Omotola Mobolurin, expressed delight at the completion and opening for business of the mall especially because of its attendant benefits into the economy. “I am delighted about the safe arrival of this new retail, lifestyle and entertainment infrastructure, with the capacity to provide merchants and shoppers with amenities and services that befit the state’s mega-city status. It is particularly gratifying that the construction and financing for this retail development is being concluded on time and within projected funding estimates,” Mobolurin said.

    The Maryland area aptly illustrates the various realities of city life. Located right in the middle of mainland Lagos, Maryland has been a residential district and a hectic hub of social activities for decades: it is also an economic and commercial nerve center; a major intersection connecting citizens and visitors alike to the major thoroughfares across the city, and a perfect exhibit of the city’s quest for affordable, urban development.

  • Hurry now! Get a Blevic Gardens’ land at a give-a-way price

    Hurry now! Get a Blevic Gardens’ land at a give-a-way price

    Blevic Gardens is one of the majestic residential estates on the stable of Vine Realtors, an online property and real estate firm.

    It is located in Akudo Ise, Ibeju-Lekki area of Lagos.

    The estate is about three minutes drive from La’Campagne Tropicana Resort and about 12 minutes trip the New Deep Seaport, Lekki Beach Golf Resort, Lekki Free Trade Zone and Dangote Refinery.

    Blevic Gardens has a total land size of 600 square metres and has good road network, street light, garden, parks, school and other facilities that will make your stay worth the while.

    As part of its commitment to providing affordable and quality homes to individual and groups desiring quality homes in a world class environment, Vine Realtors has put in place a flexible payment regime for different categories of people.

    For individuals seeking outright purchase, a plot of land goes for N700, 000, while those interested in quarterly instalmental payment (three months) option are expected to cough out N750, 000 for a plot of land.

    Lastly, there is the monthly payment option and that goes for N250,000 a month for a plot of land.

    For further information on this and other properties on the stable of Vine Realtors

    Contact: info@vinerealtors.com

    And/or,

    08052864662 and 08166250519.