The Nation Newspaper

Category: Building & Properties

  • Family honours ex-director of Estate and valuation at third-year remembrance

    Family honours ex-director of Estate and valuation at third-year remembrance

    The family of the late Alhaja Maryam Iyabode Adebimpe, former Director of Estate and Valuation in Oyo West Local Government, Ojongbodu, has paid glowing tributes to her memory, describing her passing as a huge and painful loss to relatives, friends and associates.

    In a statement issued to mark the third anniversary of her demise, the family hailed her as a devout Muslim, loving wife, caring mother, dependable sister and loyal friend.

    It was gathered that Alhaja Adebimpe passed away on November 5, 2022, and was laid to rest the same day in Ibadan, the Oyo State capital, according to Islamic rites.

    “We pray to Almighty Allah to continue to be pleased with her soul, forgive her shortcomings and grant her Aljanah Firdaus. Amin,” the family said.

    They also expressed appreciation to relatives, friends, colleagues, religious leaders, professional bodies, and the Oyo State Local Government Service Commission for their support since her passing.

    “We sincerely thank members of the immediate and extended families, her colleagues, friends, neighbours and everyone who has continued to show us love over the last three years. E ko ni fi iru e gba o,” the statement added. Signed Children.

  • Protect Diaspora investments, Winhomes boss urges Tinubu

    Protect Diaspora investments, Winhomes boss urges Tinubu

    A Nigerian entrepreneur and US-based diaspora investor, Mrs. Stella Ifeoma Okengwu, has issued a passionate appeal to President Bola Ahmed Tinubu, urging him to prioritise the protection of lawful investments and address the worsening socio-economic indicators with renewed courage and accountability.

    Speaking on behalf of thousands of Nigerian diaspora investors, Okengwu, CEO of WINHOMES Global Services Ltd., emphasised that the people are “not asking for miracles, but fairness” and called on the President to actively restore trust, rebuild investor confidence, and ensure that his administration shields citizens and lawful investors from abuse, intimidation, and injustice. 

    She urged the President to choose to “be remembered as the man who healed Nigeria — not the one who watched her bleed,” framing the economic situation as an urgent call to action against poverty and instability.

    Okengwu highlighted stark data illustrating the nation’s economic struggles, which she stressed is rapidly eroding confidence and discouraging investment. 

    READ ALSO: Fed Govt appoints Nwabueze as first tax Ombudsman

    She added that the Naira lost over 70% of its value in the past year, demanding immediate intervention to stabilise the country’s fiscal position.

    The core of her appeal is linked to the alleged unlawful demolition of the $250 million WINHOMES Estate in the Okun Ajah area of Lagos. 

    The estate, financed by diaspora investors, was reportedly destroyed as part of the Lagos-Calabar Coastal Highway project. 

    Okengwu criticised the demolition, which investors claim disregarded the established road alignment and due process, stating that it undermines Nigeria’s commitment to foreign investment. 

    She warned that “When bulldozers replace justice and intimidation replaces dialogue, no nation rises.”

    The diaspora leader called on President Tinubu to decisively act to uphold the rule of law, protect diaspora investors from government overreach, compensate victims of unlawful demolitions to demonstrate respect for property rights, restore confidence in government institutions by upholding judicial integrity, and demonstrate transparency and accountability at all levels of governance. 

    Okengwu reaffirmed her belief in the President’s Renewed Hope Agenda, emphasising that true national renewal starts with confronting injustice, concluding that Nigerians are “not asking for pity — they are asking for justice.”

  • BAM vows to tackle housing deficit, hands over ExpressView Estate to subscribers

    BAM vows to tackle housing deficit, hands over ExpressView Estate to subscribers

    The Managing Director of BAM Projects and Properties Limited, Mr. Mansur Mohammed, has reaffirmed the company’s commitment to addressing Nigeria’s estimated 16 million housing deficit through the delivery of affordable and quality homes.

    Mohammed spoke during the official handover of the ExpressView Estate to subscribers in Lugbe, Abuja.

    The housing project was jointly developed by the Federal Housing Authority (FHA) and BAM Projects and Properties Limited, one of Nigeria’s leading private real estate developers.

    Mohammed said the company’s mission is to provide standard and affordable housing to the general public while maintaining high service standards.

    “Our focus is on finding the right mix of services that deliver impactful and efficient solutions backed by superior customer service,” he stated.

    He commended the FHA Mortgage Bank for its partnership and support, describing the project as “a testament to the power of collaboration between the public and private sectors.”

    “The FHA Mortgage Bank has been a true supporter of this project. We thank you immensely for your counsel and dedication in ensuring its successful delivery,” he added.

    Mohammed emphasised that BAM’s focus extends beyond housing to community and environmental development.

    He highlighted the company’s efforts to enhance the Lugbe community through improved green infrastructure and eco-friendly designs.

    “We don’t just build properties; we build communities with sustainability in mind. You can see that in the greenery around this estate,” he noted.

    He further revealed that BAM is completing a 45-hectare housing project in Karsana and expanding into commercial and recreational developments across Abuja and also added that there is an ongoing housing project in Gwarimpa called Chiroma’s court.

    “BAM is dedicated to developing environmentally sustainable homes while considering economic realities and affordability. We achieve this through a committed team of professionals, progressive business practices, and contemporary innovation,” he said.

    He urged the FHA to continue collaborating with BAM on future housing projects and encouraged private investors and landowners to partner with the company in delivering quality, affordable housing.

    “We have proven our capacity to deliver on time and with quality. With more support, we can replicate and surpass this success,” Mohammed said.

    Managing Director of the FHA Mortgage Bank, Mr. Hayatudeen Atiku Awwal, commended President Bola Ahmed Tinubu for implementing policies that are transforming Nigeria’s housing and mortgage sectors, particularly through the establishment of the Ministry of Finance Incorporated (MOFI).

    Awwal described the ExpressView Estate as “a success story of partnership and perseverance,” noting that the estate sits on 1.5 hectares of land, with an additional 1.5 hectares reserved for Phase 2 of the project.

    He recalled a seven-year partnership with BAM Projects, beginning with their collaboration on the Karsana Estate, where over 200 housing units were delivered.

    “Anyone who visits Karsana today will attest that no estate there can compete with BAM’s. It remains one of our proudest success stories,” Awwal said.

    He lauded BAM’s professionalism and resilience in overcoming challenges during the Lugbe project, including land encumbrance, relocation of a police station, and clearance of a communication mast.

    Awwal confirmed that all necessary approvals and due diligence were conducted through FHA engineers before construction commenced.

    He reaffirmed FHA’s commitment to ongoing collaboration with BAM, adding that the Authority aims to deliver 10,000 housing units before 2027.

    Also speaking, the Head of Sales (HoS) at BAM, Ms. Uchenna Okonkwo, said the return on investment for subscribers has already surpassed expectations.

    “The return on investment for subscribers is not just tripling; it’s already exceeding 100 percent,” she disclosed.

    She revealed plans to make ExpressView Estate a green, sustainable community with clear landscaping, waste management systems, and energy-efficient facilities implemented in collaboration with FHA Energy.

    “We want this to be more than houses; we want it to be a home. Facility management will include waste management, noise control, and sustainability. All metering will be handled by FHA Energy to ensure affordability and transparency,” Okonkwo explained.

    She added that BAM has built a strong portfolio of housing developments across Abuja through craftsmanship and commitment to excellence.

  • FHA, firm target 10,000 housing units by 2027

    FHA, firm target 10,000 housing units by 2027

    Federal Housing Authority (FHA) in partnership with BAM Projects and Properties Limited, yesterday pledged to deliver 10,000 housing units nationwide by 2027 in line with President Bola Tinubu’s affordable housing policy.

    Managing Director, Federal Housing Authority Mortgage Bank, Dr. Hayatudeen Atiku Anwwal disclosed this when he inaugurated a new eco-friendly residential estate in Abuja.

    He reiterated FHA’s commitment to bridging Nigeria’s housing deficit through sustainable and affordable home development.

    Speaking at the commissioning ceremony, Managing Director, BAM Projects and Properties, Mansur Mohammed, described the estate as “a testament to trust, collaboration and vision,” stressing that the project demonstrated BAM’s capability to deliver quality housing within agreed timelines.

    According to him the estate, developed in partnership with the FHA and FHA Mortgage Bank, showcases the private sector’s capacity to complement government efforts in providing affordable housing to Nigerians.

    “This estate is not just about buildings; it’s about community, sustainability, and long-term impact,” he said.

    READ ALSO: Nigerians revive ‘Justice For Ochanya’ seven years after teen’s death

    He explained that beyond the housing units, BAM also built a police station and provided sanitary facilities as part of its corporate social responsibility to ensure security and hygiene within the Lugbe district where the estate is located.

    “We don’t just build properties, we build communities,” Mohammed added.

    He further noted that BAM’s environmental consciousness was reflected in the estate’s greenery and eco-friendly design, adding that the firm is working on a 45-hectare mass housing project in Karasana and other upcoming commercial and recreational developments.

    Reaffirming FHA’s commitment to deeper collaboration with private developers, Anwal set an ambitious target of 10,000 new housing units before 2027 nationwide, noting that the goal aligns with President Bola Tinubu’s drive for a $1 trillion economy.

    “Nigeria has an estimated housing deficit of 18 million units, meaning the demand is there. With the right partnerships and funding, we can achieve this target,” he stated.

    He highlighted new government-backed financing opportunities through the Ministry of Finance Incorporated (MOFI) and the National Housing Fund (NHF), allowing citizens to access housing loans of up to ₦100 million at single-digit interest rates for tenors of up to 20 years.

    He commended BAM for delivering a high-quality project despite challenges during execution.

    He recalled that the partnership between FHA and BAM began about seven years ago and had already yielded results, including over 200 completed homes in the Karasana Estate.

    “The entire land here is three hectares. One and a half hectares were allocated to BAM for Phase 1, and another 1.5 hectares will form Phase 2. We are proud of what BAM has achieved,” he said.

    Anwal explained that the estate’s design, consisting of spacious three-bedroom terrace duplexes, meets the highest engineering and environmental standards, with conduit stormwater drainage, electricity and water systems.

    He lauded BAM’s handling of market relocation and land encumbrance issues without conflict, describing the firm as a “dependable partner” committed to community-friendly development.

  • BO Properties summit charts course for real estate wealth, retirement security

    BO Properties summit charts course for real estate wealth, retirement security

    A convergence of over 70 investors, realtors, and financial experts in Lagos has underscored the growing appetite for real estate as a primary vehicle for passive income and a secure retirement. The gathering was at the maiden BO Properties Investor Summit held recently.

    The summit, with the theme “Shaping Tomorrow Together: Real Estate for Passive Income and Retirement,” served as a strategic forum for portfolio review and knowledge sharing.

    Attendees, many of whom are long-term partners of the real estate firm, received detailed presentations on the progress of ongoing projects, the performance of their invested capital, and future projections.

    A key highlight was a roundtable discussion that moved the conversation beyond conventional real estate approaches. Experts illuminated the evolving landscape, highlighting opportunities in high-yield areas like short-let properties and co-living spaces.

    A representative from BO Properties explained the shift in investor mindset, stating, “The conversation went beyond the traditional ‘buy-and-wait’ mindset. We helped many see that real estate isn’t simply a store of value; it’s a living, growing financial tool that can fund dreams and ensure comfort long after active work life ends.”

    This perspective was central to the summit’s goal of empowering investors towards financial independence. The discussions focused on how strategically managed property investments can generate consistent cash flow, thereby providing a safety net for retirement.

    In appreciation of investor loyalty, the company offered exclusive discounts on select properties and upcoming developments. This initiative was designed to provide both new and returning investors an advantageous entry point to expand their portfolios.

    With a call to action for those who missed the event, BO Properties is inviting more Nigerians to join its growing investment community, positioning the summit as a starting point for broader participation in the real estate sector.

  • Fed Govt adopts uniform prices for housing units

    Fed Govt adopts uniform prices for housing units

    The Federal Government has announced a uniform price for all the houses under the Renewed Housing Programme.

    The government yesterday stated that the prices across the country now stand at N8.5 million for a one-bedroom semi-detached bungalow, N11.5 million for a two-bedroom semi-detached bungalow and N12.5 million for a three-bedroom semi-detached bungalow.

    The adoption of uniform selling prices aimed at promoting affordability, transparency, and fairness.  

    Also, it will ensure that Nigerians across all regions have equal opportunities to benefit from the Renewed Hope Housing Programme.

    Minister of Housing and Urban Development, Ahmed Dangiwa, said that priority in the allocation of the housing units will be given to low- and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.

    The Ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence and encouraged the public to be part of it.

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    On payment options, the Permanent Secretary, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and instalment payment plans.  This according to him is to enhance affordability and ensure fairness for qualified Nigerians

    Renewed Hope housing projects is a Federal Government housing initiative under President Bola Tinubu to provide affordable housing across the country. The programme includes large-scale “Renewed Hope Cities” in each geopolitical zone and “Renewed Hope Estates” in 30 states, with a total target of 34,500 units across the nation. Financing options like mortgages, rent-to-own, and public rental are available, and a new online portal has been launched to facilitate the process.

    The nation’s current housing gap is estimated at 28 million units, with some experts suggesting the number could be as high as 50 million. This deficit is driven by factors like rapid urbanisation, a lack of affordable mortgage options, and high construction costs, making homeownership unattainable for many citizens.

    Considering the gaps in the sector the Federal Ministry of Housing and Urban Development approved and announced uniform sale prices for housing units under its Renewed Hope Estate Programme across all states of the federation.

  • Firm reiterates commitment to affordable homes

    Firm reiterates commitment to affordable homes

    A firm, Adron Homes, has reiterated its commitment to making ownership of affordable homes a reality for Nigerians, irrespective of their status.

    It said it had been at the forefront of providing affordable houses for citizens.

    Speaking in Ibadan, Oyo State, at the unveiling of the firm’s “Lemon Friday Plus Promo”, the Managing Director, Adenike Ajobo, said with the event, the company was taking its vision to new heights by offering discount, exclusive benefits and life changing opportunities to existing and prospective clients.

    She said the event was not just about selling land or houses, but also about empowering Nigerians, building community and transforming lives of prospective home owners across the country.

    Ajobo added: “This event is more than just a promo, but a bold statement of our commitment towards making home ownership a reality for every Nigerian. This initiative represents our heart of giving back to the society, celebrating our client and opening doors to thousands of families to step into their dream homes.’’

    She urged those aspiring to have homes to capitalise on the newly- launched promo, noting the season was for them to take advantage of the opportunity by the firm.

    READ ALSO: NLC issues four-week ultimatum to FG over ASUU crisis

    Speaking about the rationale behind the event, Ajobo said the company was taking the bitter sweet experience of buying land and homes up to speed and then turn it to all sweet.

    “At Lemon Friday, we give the best and we make dreams affordable. We  not only give sweet things, we also make it exceedingly affordable. Now today is not just about a promo, it’s about possibilities; it is about the possibility of owning land, building legacies and securing your future. Because land isn’t just a property, it is peace of mind.

    “We are rewarding every person from incredible discounts to amazing gift items. This is more than a promo. It’s a celebration. And because Adron Homes has been doing it, we are still doing it, and we keep doing it bigger and better.”

  • Sujimoto threatens legal action over $556K fraud allegations

    Sujimoto threatens legal action over $556K fraud allegations

    Luxury real estate developer Sujimoto Construction Limited has announced plans to pursue legal action against individuals and organizations behind recent reports alleging a $556,000 fraud, describing the claims as “malicious, false, and misleading.”

    Speaking on the issue, Dr. Sijibomi Ogundele, Group Managing Director of Sujimoto Holdings, said, “There is no fraud. What exists is a delay, nothing more. Yet from this delay, some have chosen to fabricate lies and mislead the public. Those responsible for spreading these falsehoods will be held accountable.”

    The company clarified that The LeonardoBySujimoto, its flagship high-rise project, has not been abandoned but only delayed due to regulatory processes and macroeconomic challenges.

    Approvals were secured in 2024, and work is progressing toward full delivery in December 2025.

    Sujimoto further explained that all clients who requested refunds have been duly attended to through a transparent and verifiable process. It also cited past successes, noting that projects such as 

    The Giuliano and LucreziaBySujimoto have delivered significant returns — appreciating from ₦285 million to over ₦2.5 billion within six years.

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    “Despite rising costs of cement, steel, and shipping, we have refused to compromise on quality,” Dr. Ogundele added. “Our integrity remains unshaken.”

    The company also condemned the alleged misuse of public institutions to settle private contractual issues, describing it as “a dangerous precedent that undermines business confidence in Nigeria.”

    Over the past decade, Sujimoto said it has paid more than ₦7 billion in wages, empowered thousands of artisans, and contributed to Nigeria’s architectural landscape through its iconic projects. 

    The firm reaffirmed its commitment to transparency, excellence, and integrity in all its operations.

  • Tinubu’s Renew Hope Housing Project to deliver 38,400 bed spaces

    Tinubu’s Renew Hope Housing Project to deliver 38,400 bed spaces

    The Renewed Hope Student Housing Project, an initiative of Bola Ahmed Tinubu administration is set to deliver over 38, 400 world class student hostel bed spaces in 24 locations, including 12 universities, six polytechnics and six colleges of education before the end of next year.

    The project, a Public, Private Partnership initiative of Tinubu is intended to improve the living standards and revitalize infrastructure across tertiary institutions in the country.

    According to a statement by the promoters of the project, the Renewed Hope Student Hostel Project in each of the 24 locations will boast 1,600 bed spaces, 400 ensuite rooms with study table and chairs, four reading rooms, common room, cafeteria & restaurants, laundromat, grocery shops, salons as well as public toilets.

    READ ALSO: Military debunks report of alleged coup to overthrow Tinubu

    Put together by Family Homes Funds Limited (FHFL), in partnership with the Federal Government of Nigeria, the Tertiary Education Trust Fund (TETFund) and Africa Plus Partners Nigeria Limited, it is set to deliver on Mr. President’s promise to transform student accommodation nationwide.

    Currently, the project has commenced in a total of six locations across the country with distribution of three locations in Northern Nigeria – Ahmadu Bello University Zaria, Federal Polytechnic Bauchi and FCT College of Education, Zuba.

  • LBRBDA, Amisec partner to establish ₦5bn “AgroCity Doma” in Nasarawa

    LBRBDA, Amisec partner to establish ₦5bn “AgroCity Doma” in Nasarawa

    In a major stride toward agricultural industrialisation, the Lower Benue River Basin Development Authority (LBRBDA) and Amisec Industrial Company Limited have signed a Public–Private Partnership (PPP) agreement to develop AgroCity Doma, a ₦5 billion Phase One project that will transform the Doma Dam Irrigation Area in Nasarawa State into a climate-smart agro-industrial hub dedicated to organic sesame production, processing, and export.

    Under the terms of the partnership, LBRBDA will provide 1,000 hectares of irrigable land along with access to water from the Doma Dam, while Amisec will lead the investment, infrastructure development, cultivation, and project management.

    The initiative is positioned as a flagship model for sustainable land utilisation and value-added agriculture under Nigeria’s River Basin Development framework.

    The AgroCity Doma project will comprise a mechanised nucleus farm over 1,000 hectares; Solar-powered irrigation systems for sustainable water use; a 10 MT/hour sesame processing plant for value addition; Agroforestry buffers and essential rural infrastructure, and an outgrower programme engaging over 1,000 local farmers.

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    Once operational, the project is projected to generate annual revenues of up to $7 million (≈ ₦10.8 billion) from organic sesame sales, creating over 500 direct and 2,000 indirect jobs across the value chain.

    The Hybrid Implementation Plan allows farming activities to commence in the next rainy season, even as construction of infrastructure and processing facilities continues. Full processing and export operations are expected to begin by Q1 2027.

    Speaking at the signing ceremony, Managing Director of LBRBDA, Engr. Tersee Ninga emphasised that the collaboration reflects the Federal Government’s commitment to the productive use of irrigation assets in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

    “This partnership demonstrates the Federal Government’s commitment to productive use of our irrigation assets. AgroCity Doma reflects how strategic PPPs can expand food production, create jobs, and boost agro-industrial growth”.

    On his part,  Chief Executive Officer of Amisec Industrial Company Ltd, Abdulmuttalib Mohammad, said the company is investing ₦5 billion in the project’s first phase, aiming to build a fully integrated organic sesame value chain capable of producing traceable, export-grade products.

    “Our goal is to create a sustainable sesame ecosystem that benefits local farmers and communities while positioning Nigeria as a key player in the global organic sesame market, which is valued at over $4 billion”.