The Nation Newspaper

Category: Building & Properties

  • Firm unveils home ownership scheme

    A real estate development company, Adron Homes and Properties Limited, has inaugurate a new home ownership plan for low income earners under its  “Who Wants to be a Landlord?” initiative.

    Its Chief Executive Officer, Dr. Adetola Emmanuel-King, said the company is determined to address housing challenge of low income earners Nigerians, is reduced to a reasonable level.

    Under the scheme, those low-income earners who cannot pay cash to buy land or house, can do so  by buying a N1, 000 ticket  which can translate to their winning a land worth between N500, 000 and N1 million.

    “We intend to run a transparent raffle draw every month to pick winners from a pool of people who subscribe to the housing plan. The ticket will soon be available in shopping malls, eateries and selected public places”, Emmanuel-King, said.

    To effectively pass the message across to its target audience,the firm has enlisted two veteran Nollywood actors as “Brand Ambassadors.”   Adewale Elesho popularly known as Baba Elesho and Toyin Afolayan popularly known as Lola Idije are to appear and speak on TV and Radio commercials next  year to sensitise would-be  landlords.

    For Elesho, who described the initiative as a first of its kind, past efforts by the firm has produced a reasonable number of home owners within the last two years; hence, he is convinced that this new initiative can only make things better for the low income earning Nigerians who desire to own their own homes with relative ease. Meanwhile, Mrs. Funke Shobowale, the Managing Director of Adron Homes and Properties Limited, explained that the company is working on increasing its land bank across Lagos and Ogun states so as to enable it create more opportunities for prospective landlords. When this is done, it will further boost the existing schemes put in place by the firm. “We currently have four estates namely: Rehoboth Park and Gardens at Ibeju-Lekki, located after Eleko junction, which is a few minutes from La Capagne; Treasure Park and Gardens Estate in Shimawa town in Ibafo, located behind the Redemption Camp off the Lagos-Ibadan expressway; GrandView Park and Gardens Estate on Sokoto road in Atan- Ota about 15 minutes’ drive from Winners Chapel and Glass House Estate also in Shimawa,” she explained.

    To own a plot of land in any of the four estates, Shobowale said, is dependent on the location. For instance, a plot of land measuring approximately 324 square metre (sqm) and 648 sqm in GrandView Park and Gardens Estate sell for N500, 000 and N1 million respectively. Plots measuring approximately 400 sqm and 600 sqm in Rehoboth Park and Gardens sell for N2.5 million and N4 million respectively; plots measuring 324 sqm and 648 sqm in Treasure Park and Gardens for N1.5 million and N3 million respectively while plots of measuring approximately 454sqm at the Glass House Estate sells for N5 million.

  • Ogun ‘Batch 5’ homeowners get C-of-O

    The fifth batch of beneficiaries under the “Homeowners’ Charter”  of the Ogun State government has been presented with Certificate of Occupancy (C of O), and other title documents. The scheme is an initiative of the Governor Ibikunle Amosun administration which enables home owners  to regularise their legal status at a discount.

    Governor Amosun, represented by the Head of Service, Mrs. Modupe Adekunle, while presenting the documents to the beneficiaries at the Arcade Ground, Governor’s Office, Oke-Mosan, Abeokuta, expressed satisfaction with the interest so far shown in the scheme

    He congratulated the beneficiaries saying:“You are home owners now, because with your Certificate of Occupancy (C of O), you can now enjoy several facilities from the banks and other institution in the country,” Amosun said.

    The governor said with the scheme, “government can also plan effectively for infrastructural facilities once the actual number of houses is ascertained.”

    Speaking earlier, the Special Adviser/Director General, Bureau of Lands and Survey, Mr. Adewale Oshinowo, said the presentation was a proof that the government was sincere with the programme and had proven “Doubting Thomas’s” wrong; added that all government promises on housing scheme will not go without being implemented.

    Oshinowo explained that the Homeowners’ Charter was part of the administration’s plan to improve and encourage the standard of living of the people in the state through innovative policies and ideas, urging the residents to always take advantage of any scheme being introduced by the state government for their own benefits.

    He said the success of the scheme was a result of the effective collaboration between the agencies and ministries involved, promising that the same zeal and commitment would be given to every application received, adding that those that have not received theirs should be patient with the agency, that in time they will be called upon to collect theirs.

  • Britain’s top eight towns

    Virginia Water, Surrey

    Surrey is the most expensive county in which to buy a home, according to a survey by Zoopla of Britain’s top 10 most expensive towns. The county’s Virginia Water topped the list, with an average property value of £1,186,262 and an annual increase of 5.91 per cent.

    Cobham, Surrey

    Average property value: £1,003,400. Annual increase: 6.94%

    Cobham in Surrey takes the number two spot, and is home to the Chelsea Football Club training ground, with many of the team’s players living in large, luxury houses in the area.

    Keston, London

    Average property value: £947,955. Annual increase: 10.81 percent

    Keston sits on the border of London and Kent. Homes range from original 1920’s houses to ultra-modern detached houses with high-spec interior design and technology.

    Esher, Surrey

    Average property value: £931,669. Annual increase: 10.08%

    The historic town of Esher is surrounded by green space and boasts average property prices just under £1 million. Close proximity to the M25 makes this area popular with London commuters.

    Richmond, London

    Average property value: £906,770.  Annual increase: 12.47%

    Richmond is popular with Londoners seeking a peaceful haven away from the humdrum of the city. The town sits on a bend of the River Thames and boasts numerous parks and open spaces.

    Beaconsfield, Buckinghamshire

    Average property value: £897,872. Annual increase: 4.79%

    Beaconsfield sits between London and Oxford, and is a quick 20-minute commute from London Marylebone. Chalfont St. Giles, Buckinghamshire. Average property value: £897,872. Annual increase: 0.47%. Chalfont St. Giles is an idyllic village in south-east Buckinghamshire, on the edge of the Chilterns., with popular schools and good transport links to London. Gerrards Cross, Buckinghamshire. Average property value: £815,222. Annual increase: 9.38%

  • Court stops demolition of five-storey building

    Court stops demolition of five-storey building

    •Family accuses agency of violating court order

    A Lagos High Court sitting on Igbosere has stopped the demolition of a five-storey building in the Central Business District in Lagos.

    The court restrained the Lagos State Building Control Agency (LASBCA) and others from further demolishing and dismantling the property  at 49, Martins, Street, Lagos.

    Jusstice Hakeem Oshodi granted the injunction pending the determination of the substantive suit.

    The defendants are the Attorney-General of Lagos State, Lagos State Urban Renewal Agency(LASURA) and the LASBCA.

    In the motion on notice filed by theclaimants/applicants,they sought  an order restraining the defendants “either by themselves, agents, privies or whosoever from erecting any structure, or alienating to the 3rd party (LASBCA) or further interfering in any manner on any part of the property at 49, Martins Street/30, Shitta Street, Lagos Island pending the determination of the substantive suit in this case”.

    Granting the prayers in the suit with number LD/ 7688/2014, Justice Oshodi ordered the respondents to maintain the status quo; he adjourned the matter till January 15, for the hearing of the Motion on Notice.

    Justice Oshodi ordered: “Due to the peculiar nature of the facts of this case, it will be prudent for the court to maintain status quo of the respondents. In this respect, the Court hereby orders that parties,  especially the second and third defendants do maintain status quo as at today.”

    The claimant Alhaji Fasasi Adesigbin Oluwole, Afeez Oladimeji Shitta, Alhaja Mutiat Olasumbo Hassan (for the family of late Alhaja Taibat Shitta) and Alhaja Hadikat Talabi had in their suit laying claim to the disputed property at No 49 Martins Street, Lagos which has been a subject of litigation.

    The claimants in their affidavit had alleged that in spite of the court orders restraining the defendants from further tampering with the disputed property, they “at a break neck speed fully demolished the property in dispute in my presence”.

    The problem surrounding the ownership of the land, which had been occupied by the claimants for over 30 years, got out of hands until October 24, this year when it was alleged the agents of the state government aided by security operatives, “invaded the property in dispute started removing the burglaries, doors and windows affixed to the property and sending away our tenants out of their shops”.

    According to their 47 paragraphs in support of the motion deposed to by Afeez Shitta, the claimants averred that sequel to this, several efforts were made, including filing of an action challenging the activities of the agents of the government but all to no avails.

    He stated: “The Claimants/ Applicants as a law-abiding citizen instituted this case to prevent and challenge the  atrocities of the defendants by their Writ of Summons and Statement of Claim dated and filed on October 28, 2014 and  October 29, 2014.”

    According to them, in spite of the service of the processes on the respondents and the order exparte restraining the defendants the demolition continues unabated.

    “As at 26th of November, 2014 when this Honourable Court granted an order exparte, retraining the Defendants from further demolishing the property in dispute, the said property was yet to be fully demolished by the defendants.”

    The deponent stated further that there was no  letter or application demanding for the demolition of the property in dispute, but leaders of the agencies want to use their offices to take usurp and seize their ownership of the land to take it over  and erect a new building.

    The family had earlier taken steps to address the situation by sending petitions to the governor and other state government officials, including the Assistant Inspector-General of Police, Zone 2 Command, in the hope that the situation will be addressed.

    According to the spokespersons of the family, Mrs. Modinat Onimole and Mrs. Mutiat Hassan, Governor Babatunde Fashola  promised to set up a committee to investigate the case. She said up till now, nothing had been heard about the committee and its report.

  • N486m Trinity Mall opens in Lagos

    The N485 million Trinity Mall has opened at lkeja, Lagos, to provide convenience for busy shoppers.

    The Chairman/Chief Executive of Omais Investments Nigeria Limited, owners of the mall, Chief Omochiere Aisagbonhi, said: “Because so much shopping falls into the “must -do “ category, busy consumers seeking to simplify their lives favour retailers that save time and energy and that is what our mall stands for at the heart of Ikeja.’’

    With the shops going for N15,000 per square metre, Trinity Mall boasts of several world-class facilities that make for exquisite, breath-taking ambience. The design is a mix of rugged Nigerian and fine-honed international structural details, he added. This is in addition to ample parking space, an elevator, 24-hour power and water supply, security coverage including CCTV camera surveillance round-the-clock, to ensure peace of mind for shoppers and shop owners.

    For him, the level of investment in the property sector and other sectors of the economy would have been more than what it is if not for the heavy burden placed on investors. For instance, he said identified and blamed multiple taxation as a major challenge for investment in the country. He said that businesses are challenged everyday in the face of harsh tax laws and tax regimes as well as poor infrastructure. A tiny percentage of the incentives being used to attract foreign investors, he reasoned, will perform magic if offered to genuine local investors and boost the economy  in a faster way than what many foreign investors  are offering  especially those who bring in  incompatible technology and foreign employees.

    Although he said he is not against foreign investment, he is, however, not comfortable with but the manner in which they breach employment regulations and deprive Nigerians of their jobs.

    He regreted the inability of local governments to contribute to the provision of infrastructure, saying it is unacceptable, as the burden is on investors in addition to the tax burdens.

    “They are always repeating the over-emphasised ’ low financial allocation’ from state and Federal government. For us in the property  business, we know that houses for citizens in many countries are provided and run by councils. I am yet to hear of any council in Nigeria that has built or is building and allocating houses to its citizens from whom they collect all manner of taxes, rates and bills,” Aisagbonhi added.

  • Ecuador to host UN Conference

    The United Nations General Assembly has praised the Government of Ecuador for accepting to host the UN Conference on Housing and Sustainable Urban Development (Habitat III) in Quito, Ecuador on July 17, 2016.

    A statement from Habitat III Secretariat said the objective of Habitat III, which is the third conference in line with the bi-decennial cycle (1976, 1996 and 2016), “would be to secure renewed political commitment for sustainable urban development, assess accomplishments to date, address poverty and identify and address new and emerging urban challenges for the establishment of the ‘New Urban Agenda”.

    According to the statement, since 2009, the majority of the world’s population lives in cities. “Today, urban areas are a living combination of history, civilisation, diversity and culture. Urbanisation has been a force that has changed almost everything: ways of thinking and acting, ways of using space, lifestyles, social and economic relations, and consumption and production patterns. Cities, as economic and productive innovation spaces, provide opportunities for improving access to resources and services, as well as options in the social, legal, economic, cultural and environmental fields. Urbanisation has ushered in economic growth, development and prosperity for many,” the statement said.

    It added: “However, cities are also spaces where multidimensional poverty, environmental degradation, and vulnerability to disasters and the impact of climate change are present. Today, more than two thirds of the global population lives in cities with greater levels of inequality than 20 years ago.”

    The statement, quoting Habitat III Secretary-General, Dr. Joan Clos, said: “The conference is a unique opportunity for rethinking the urban agenda in which governments can respond by promoting a new model of urban development able to integrate all facets of sustainable development to promote equity, welfare and shared prosperity.”

    As a sequel to the conference, the second session of the preparatory committee would hold in Nairobi, Kenya, from April 14 to 16, 2015; and the third session would be in Indonesia in July 2016.

  • Training for LAWMA, UNCRD-IPLA

    Training for LAWMA, UNCRD-IPLA

    The Lagos Waste Management Authourity (LAWMA) and the United Nations Centre for Regional Development and International Partnership for expanding waste management services of Local Authorities (UNCRD-IPLA) are holding a training in waste management.

    The event, slated for Thursday, will take place at Lagos Chamber of Commerce and Industry (LCCI) Conference and Exhibition Centre, Ikeja.

    LAWMA Managing Director, Mr. Ola Oresanya, said the increase in waste generation combined with complex/emerging waste streams arising from growing industrialisation as well as changing consumption patterns, which pose inherent implications for climate change, among other environmental issues, have necessitated current global trends in adopting a multi-level collaborative approach, as well as empower stakeholders at municipal level towards appropriate technological choice and intervention.

    The LAWMA boss noted that recognising the need for guided research, knowledge and capacity building in achieving the above, LAWMA being the west Africa secretariat for the UNCRD-IPLA is organising the interactive multi-stakeholders forum as a viable platform to promote Acedemia-industry-Government collaboration towards sustainable integrated waste management technologies in the country.

  • Australia mulls fees for foreign property buyers

    Australia is considering placing additional charges on foreign buyers entering its booming property market after an inquiry found authorities had failed to enforce limits on purchases by investors from abroad.

    The move follows growing concerns about the impact of foreign buyers, particularly cash-rich investors from China, who have poured billions of dollars into the local market and fuelled soaring housing prices.

    A parliamentary committee said authorities had failed to police the recent boom and had not penalised or prosecuted a single foreign investor since 2008. It has recommended a £820 ($1,500) fee for properties purchased by foreign investors.

    “No one really knows how much foreign investment there is in residential real estate nor where that investment comes from,” the committee chairwoman, Kelly O’Dwyer, a government MP, told ABC Radio.

    “If you are not prepared to enforce the rules, then it is less likely that people will comply with the rules.”

    House prices in Australia are among the most expensive in the world, with average values in Sydney up 50 per cent in the past five years.

    Analysis by Credit Suisse found earlier this year that Chinese buyers purchased £13 billion ($AUS24 billion) worth of properties in the past seven years and were responsible for 18 per cent of new housing purchases in Sydney. The committee found that existing penalties for foreign buyers were appropriate but enforcement had been “severely lacking”.

    “Australians must have confidence that the rules, including those that apply to existing homes, are being enforced,” Ms O’Dwyer said. “Our inquiry revealed, that as it stands today, they could not have that confidence.”

    Under Australia’s foreign investment rules, non-citizens are restricted to buying new or off-the-plan properties. Only Australian citizens, permanent residents or temporary resident visa holders can buy established – or second-hand – homes. Temporary residents can buy a single home but must sell it when they leave the country. However, the measures appear to have been poorly enforced, with reports that foreign buyers use family members in Australia to make purchases on their behalf. Many foreigners reportedly view the risk of an £46,000 ($AUS85,000) fine for buying an existing property as a cost of doing business. Joe Hockey, Australia’s treasurer, a role equivalent to Britain’s Chancellor of the Exchequer, said he would consider boosting funding for the authority that enforces foreign investment rules.

    However, the opposition criticised the proposed fee for foreign investors as an additional and unnecessary tax. Ed Husic, a Labor MP, said commentators and analysts, including Credit Suisse, had engaged in scaremongering about the impact of Chinese investors. He said the proposed new fee was a “dash for cash”. “One hopes this report dissolves from memory. Fast,” he said.

     

    •culled from The Telegraph

     

  • Affordable housing: How far can private partnership go?

    Affordable housing: How far can private partnership go?

    One year ago, Lafarge Nigeria and LAPO Microfinance signed a N1.3 billion housing deal. Under the initiative, they are expected to provide affordable housing for medium and low income workers. How far can such private partnership go in bridging the 17 million housing gap? MUYIWA LUCAS writes.

    In Abraham Maslow’s hierarchy of needs, shelter ranks very high. This is why governments, the world over, take housing seriously; it is no exception in Nigeria.

    But over the years, the reality of  the government’s lack of capacity to provide, affordable housing for the citizens except with the involvement of the private sector seems to have dawned on her.

    The Minister of Lands, Housing and Urban Development, Mrs. Akon Eyakenyi, in Abuja, stated this in Abuja. The minister, speaking at a pre-summit meeting on the proposed Nigeria housing and construction summit /expo, acknowledged that affordable housing delivery for the low and middle income earners cannot be achieved without the provision of incentives to encourage the participation of the private sector.

    Indeed, this realisation has become even more compelling in view of the fact that the provision of affordable homes for 167 million Nigerians is an arduous task that cannot be left for the government alone, especially now that the government’s revenue is dwindling.

    “To build a house in Nigeria is a very expensive task due to the high cost of building materials. Affordable housing cannot, therefore, be achieved without a drastic reduction in the cost of housing construction and other associated costs which invariably determine the selling price. Consequently, for affordability to thrive, emphasis must shift to reducing the cost of housing construction to promote access to affordable homes to the vulnerable segment of our national population,” Mrs Eyakenyi said.

    She called on the organised private sector, manufacturing outfits, finance houses and multilateral agencies to support the drive for affordable housing delivery.

    But long before this call, some private companies had taken the bull by the horn to tackle the problem. One of  them is Lafarge Africa Plc (formerly Lafarge WAPCO), which, in collaboration with the French Development Agency (AFD) and LAPO microfinance, decided to invest N1.3 billion to provide affordable housing in the country.

    The scheme, tagged “Ile Irorun” was kicked off in October last year, as Lafarge’s response to the challenges of urbanisation in the country. It also represented the first operation to be launched in the frame of AFD and Lafarge partnership to improve housing conditions through microfinance in Africa.

    During the launch of the pilot phase of “Ile Irorun”, which was planned to involve 400 beneficiaries, the AFD’s Country Director, Mr. Hubert Dognin, declared a long- term credit line of N1 billion from AFD to LAPO to support the joint programme. Based on the development of new housing products financed by AFD, LAPO will commit an additional N300 million to the project, which is intended to enable low-income families to finance the construction, the extension or the renovation of their houses and thereby helping them to improve their living conditions. In all, an estimated 3,500 Nigerians were targeted to benefit from the programme over the next three years.

    Under the scheme, prospective beneficiaries were to be identified through the network of branches of LAPO or the distributors of Lafarge Africa, and their loan applications are supported by free technical assistance from the cement giant. This technical assistance enables clients to lower their costs, choose their designs among a catalogue proposed by Lafarge Africa and ensures the quality of the construction through selected construction material retailers as well as help on construction supervision.

    This initiative was seen by various stakeholders in the housing sector as a major development that would turn around the fortunes of Nigerians who crave for affordable shelter. For instance, Mr. Guillaume Roux, Group Managing Director /Chief Executive Officer, Lafarge Africa Plc described it as a major step towards the realising his firm’s ambition to help build better cities in Nigeria. He said: “Lafarge’s commitment to building better cities is unwavering, hence, we initiated this project to help provide access to affordable housing for Nigerians.”

    Similarly, Mr. Godwin Ehigiamusoe, managing director, LAPO Microfinance Bank, reasoned that for low-income earners, houses are not just mere dwelling places, but also business locations. This, he further revealed, was why the bank took the affordable housing initiative seriously.

    “This scheme will be the start of hope for many and we embrace the momentous difference it will make in their lives and businesses,” he said. Hubert Dognin, Country Director of AFD in Nigeria, added: “The development of housing financial products adapted to microfinance bank’s customers is an innovating concept which can be replicated at wider scale to break the vicious circle of housing market in Nigeria.”

    The Project Manager for Lafarge, Mr. Aurelien Boyer, told The Nation that the “Ile Irorun” scheme is a social and business initiative of Lafarge aimed at providing housing for people who otherwise would have had serious challenges owning their own homes.

    He said that as defined in the company’s “Sustainability Ambitions 2020, Lafarge operations in 16 selected countries have committed to improving housing conditions for two million people’’.

    In arriving at this scheme, investigations by the partnering firms revealed that several factors have made it extremely difficult to have affordable housing in the country. Therefore, the scheme was well thought out to tackle these challenges. Some of these challenges include a high percentage of independent builders lacking access to funds; the long period of building construction, leading to the phenomenon of buildings left uncompleted for many years; the absence of advice from qualified professionals resulting in poor construction, and the increasing population growth in urban areas.

    Therefore, the initiative effectively responds to the challenges identified with Lafarge providing free high quality technical assistance which is available to the home builder throughout the construction process. This comes in the form of architectural design, materials selection and application, construction supervision and quality control. With the partnership with AFD and LAPO, ease of access to funds and flexibility in its repayment is assured given the meagre rate of 1.63 per cent per month on loans from N100, 000 to N1 million.

    Participating in the scheme is easy as prospective beneficiaries under the scheme are identified through the network of branches of LAPO or the distributors of Lafarge Africa, and their loan applications are supported by free technical assistance from Lafarge.

    Beneficiaries of the scheme have praised the initiative. For instance, Rev. Solomon Bamigbade, a self-employed farmer in Ajebo village, Ogun State, said for 10 years, he had lived in a mud house, as he was unable to erect a modern building on his spare land.

    However, he explained that with the “Ile Irorun” initiative, he has been able to put up another building.

    According to him, with the help of Ile Irorun engineers, he was able to design his house from the foundation up to the tiling- a feat that has made him reside in one of the best houses in his area. “People now see me as a millionaire,” he said.

    For Mr. Babatunde Adeogun, a teacher in Sagamu, Ogun State, after getting help through the initiative to do block walling, columns, beams, roofing and DPC, he has since stopped being a tenant. “My wife, two kids and I moved into our home not too long after I got the loan under the scheme, thanks to Ile Irorun,’ the happy home owner said.

    The testimony of a secondary school principal, also in Sagamu, Ogun State, Mr. Olugbenga Omobo,  testifies to the impact the project has  on the communities. For six years, Omobo abandoned his building project due to lack of finance. However, with the Ile Irorun loan, and free technical assistance given to him by the promoters of the scheme, he has since completed his house. “I could not believe the very little interest I had to pay. With free technical assistance and professional hands, I was able to actualise my dream,” he said.

    So far, more than 5, 000 people have been impacted by Lafarge Easy Home (Ile Irorun) through 850 constructions. The programme has expanded to five states: Ogun (Abeokuta, Ijebu Ode, Sagamu, Sango/Ota axis, Mowe/Ibafo axis), Oyo (Ibadan and Oyo), Lagos (Ikorodu), Ondo (Akure and Ondo) and Edo (Benin City) with the support of eight technical assistants and 32 branches of LAPO.

    Participants are selected from the clientele of LAPO microfinance institution in all locations for ease of administration. Low-income earners with viable land or an on-going building project, who are willing to be part of the initiative, are assessed and later admitted on the provision of a guarantor.

  • FHA gets technical board, interim managers

     

     

    •Firm holds promo

    the Managing Director  Beryl Shelter Limited (BSL), Mrs. Abiola Afolayan, has advised prospective investors in the property sector to invest wisely and seek quality guidiance before buying any property if the property so invested in is to give the maximum benefit to its owner.

    Mrs Afolayan also added that a good property should give a minimum of 10 per cent per annum on the investment.

    The property market, she further noted, is booming because of the available funding, especially as more banks are willing to give credit facilities.

    “Investment in the real estate market will always remain a wise priority. Traditionally, investment in this sector provides a higher growth potential than other forms of investment, and being a home owner gives most people a great deal of personal satisfaction, but there is also the need to make a good judgement on this, and that is where we have comparative edge,” Mrs Afolayan said.

    Similarly, the firm’s Chairman, Mr. Babajide Sanwo-Olu, said the firm was set to cause a stir in the sector with its unparalled product offering.

    Therefore, he said, what BSL offers will bring about a change in the market, especially in how buying and selling is done. “We have taken it upon ourselves to take the lead in how people do business in this sector; we are improving the financial welfare of the people,”she reasoned.

    Meanwhile, BSL has announced a promo to reward referrals made to her by the public. Tagged the “Felix Grand Promotion”, it is targeted at property owners and those who desire either to sell or rent out properties.

    According to Mrs Afolayan, the promo is aimed at ensuring   that the firm retains patronage of 30 per cent share of the property needs of the medium to high income earners.

    Under the promo, the firm is offering a free Hyundai Elantra car, as the star prize, for property referrals to the tune of N100 million.

    She explained: “Simply introduce to our company anyone who you know wants to buy, sell or rent a property and you get a free gift for your referral.”

    Items to be won include an iPhone, 11 KVA generator, washing machine, and gas cooker.