Category: Building & Properties

Bashmoh Homes has signed a contract with the Non-Academic Staff Union (NASU) of the University of Lagos on housing provision.

Bashmoh Homes Chief Executive Officer (CEO), Mr. Bashir Jimoh said his firm will ensure the delivery of modern houses. ‘’Bashmoh Homes has just signed a development/ partnership contract with the Non-Academic Staff Union of the University of Lagos. This is to further highlight the commitment of Bashmoh Homes to provision for housing for all, especially the middle level housing deficit when compared to the premium houses being focused at by most developers,’’ he said.

He explained that the deal comes with provision of 250 houses to UNILAG NASU members with complementing infrastructure and services such as  street light, green areas and transformer.

He urged other associations and corporates to partner them to provide decent housing for their staff members.

He said they also sell land for agricultural and manufacturing in addition to enabling people to own houses through finance model enabling people to acquire their dream home, land.

‘’As professionals, we assist our clients to monitor building projects, process of C of O’s, management of farmlands and other exciting offers,’’ he added.

Housing is a major issue in most cities. The challenge has led to the growth of slums in most big cities such as Lagos.

Through various policies, regulations and agencies of government, the state has come up with innovative ways to execute housing projects.

Recently, the Lagos State Development and Property Corporation (LSDPC), delivered 480 units of one, two and three-bedroom flats at B.O. Benson Estate, Ibeshe, Ikorodu with a pledge to provide more.

As the ever-rising demand for affordable housing rises, the government is also making efforts by being creative  with policies and incentives as enablers to help people have decent roofs over their heads.  In Lagos, for instance, the state government is driving it through LSDPC. At the monent, there are houses in the market for as low as between N5million – N13.5million.

The project, B.O. Benson Estate, Ibeshe sits on a land area of 15 hectares opposite Nichemtex Factory, Igbogbo-Baiyeku Local Development Area (LCDA). It was executed by seasoned professionals in the LSDPC and built by contractors who employed artisans within the locality, giving opportunities for local residents to be a part of the project first hand.  The project started during the administration of former Governor, Babatunde Raji Fashola, was delivered and commissioned by Governor, Babajide Olusola Sanwo-Olu before December.

LSDPC Managing Director, Ayodeji Joseph said the project is designed to provide decent accommodation for sub-urban dwellers to increase the stock of decent homes in the state. He told The Nation that the idea is not only to reduce the housing deficit in the state, provide conducive environment for families, encourage communal living but  also to aid growth and employment around the area.

He said: “The estate is an architectural showpiece erected in it’s environ. It is an edifice of real estate development equipped with modern facilities to provide homes for the people in a conducive, serene and well planned environment.

“The structure comprises 40 blocks of 480 units of one, two and three-bedroom flats. Each flat  has kitchen fittings, store and visitor’s toilet while external features of the estate include seven numbers transformer, one injection station, two refuse houses, car park, water treatment plant, GRD/overhead water tanks, borehole and two pump Houses. Among other ancillary buildings are generator house, community halls, roads/drains and central sewage system.

“The B.O. Benson Estate is one of the several laudable developments delivered by us. This recent project jointly financed by the Ministry of Housing and the corporation is a proof of the commitment of the administration’s progress towards the continuous delivery of decent housing to its citizens. It is the corporation’s contribution towards the State government’s efforts at providing affordable housing for Lagosians.”

He said the agency has been privileged to have worked alongside the Ministry of Housing in the execution and completion of a series of LagosHoms, namely, Anthony Enahoro Housing Estate, Ogba, LagosHoms Shitta Surulere, LagosHoms Suco Road, Oko Oba, LagosHoms Akerele/Randle, Surulere and LagosHoms Amuwo Odofin.

Earlier, the agency delivered  Bayview Estate in Lekki, adding that their partnership with the private sector  yielded positive results in the interest of Lagosians.

He added that under the Sanwo-Olu administration in the last one year, “we have completed and delivered some housing schemes. Among them are the Courtland Luxury Villas, Igbokushu in Lekki and Lekki Apartments located at Freedom Way Junction, Lekki Phase1 both of which were delivered as joint venture projects.

“I am elated that the Lagos state government encourages the collaboration of real estate developers in private and public sectors to exchange ideas and develop projects to bridge the gap of housing deficit in Lagos State. This collaboration is what has birthed this project we are inauguration.”

Also, the Lagos State House of Assembly (LASHA) Committee Chairman on Housing, Makinde Rasheed, commended the harmonious relationship between the Executive and the Legislature, adding that it has made good governance possible in the state with competitive infrastructure.

The uptrend in building and real estate investment is expected to continue in 2022 as investors seem to profile investment in real estate as safe , realiable and high on Return on investment (Rol). Okwy Iroegbu-Chikezie reports

Despite the slowdown in the economy, which reduced household income and crippled consumer purchasing power, the real estate sector has seen increased investment interest with individual and institutional investors raising capital and deploying the same into the sector.

The fact that there is economic slowdown does not mean that is how the market is going to be forever. There will be changes and forceful improvements that will improve project attractiveness experts say.

“We are not really concerned about where we are right now. We believe that we are investing at the right time; when people are not investing it is the right time to invest because that is when you get a better deal for your development,” Obi Nwogugu, former principal at African Capital Alliance (ACA) said in a statement.

There will be a broader perspective to the increase in investment interest in real estate, leading to huge growth in  the sector in 2022 says Paul Onwuanibe, CEO, Landmark Group.

Also another Realtor, Rita Ukpong predicted a market appreciation at an above-average rate in 2022 for three reasons–scarcity, utility and demand.

Buttressing  her  point she said:”Scarcity: there is a shortage of over 20 million housing units. Utility: the home is now the centre of the remote workers’ world by being both the office, recreation and gym. The Millennials are Nigeria’s largest generation, in their prime home-buying years. They look out for trendy, compact and serviced homes and apartments”.

Thelma Ugonna Ohiri-Anyanwu, CFA Management Associate at First Bank of Nigeria in her response to her investment preference for 2022 said:”

The world has experienced 3 waves of the Covid-19 virus and the impact on global economies cannot be overemphasized. With the possibility of a 4th wave, if mutations continue, increases in commodity prices and high inflationary pressures, 2022 will be a year of moving from recovery to resilience.

In 2022, I will be looking out for investments that would provide positive real income, provide stability, grow my funds and add value; hence I am looking to invest in direct agriculture, digital currency, dollar funds/Eurobonds, value stocks and explore real estate investments through investment in short -lets and leasing opportunities. Above all, I plan to invest in myself by acquiring some identified skills”.

Looking ahead, one segment poised for growth is affordable housing. The authorities’ prioritisation of developing such units and facilitating cheaper mortgage options will help more residents become homeowners in the coming years. Overall, reducing dependence on imported building materials is key. While border closures and transit restrictions stalled building activity, it also prompted developers to source materials locally – a trend that is expected to continues aid a developer, Tunde Olatunji.  He also stated that demand for luxury residential real estate will improve  as it seem largely impervious to the downturn as for instance 4 bedroom apartments at a particular luxury apartment block  costs $2.2million per unit on average.

According to him the home office  will continue  to grow, taking up the demand for office consumables with it. This he said may trigger the demand for 4 bed and 5-bed apartments as the future of work is likely to be a hybrid of home and office arrangements at least until Q2 of 2022. He further stated that the year will witness a rise in the use of residences and retail centres as places of worship as the previous year.

Developers are now more attuned to demand, drawing on lessons learnt from previous years. “Absorption rates tend to be higher when project pricing meets market readiness. This has led to the siting of new projects away from CBDs to other relatively commercial but accessible nodes”.The 2,000 hectares Alaro City on Lekki/ Epe expressway and  the Eko Atlantic City project will be advancing to phase 3 including other high end real estate projects.

Stiff regulatory measures and mechanism is also likely to take centre stage as a result of the various building failures  across the nation with attendant loss of lives. Till date the most embarrassing building failure to any government was the 21 storey Fourscore Homes in upscale lkoyi, Lagos that reportedly took the life of it’s owner, Femi Osibona who allegedly flouted regulations to build over and above what was approved for him by the approving agency. This flagrant disobedience to regulatory laws made the

The Nigerian Institute of Building (NIoB) to appeal to the Lagos State government to strictly implement its physical planning laws to stem the rising spate of building collapse in the state.

The Institute’s Lagos Chapter Chairman, Mr Lucky Isename, while sympathising with families of the victims and the state government, said the state had excellent laws lacking adequate implementation

Isename, while identifying causes of building collapse, said the state had beautiful laws which must be implemented without further delay to curb construction failures.

“We need the Lagos State government to strictly implement the Lagos State Physical Planning Permit Authority laws to put a stop to collapse of building in Lagos State,” he said.

Allegations that the developer in the current collapse saga doubled as developer/contractor and used direct labour in building the edifice should be investigated and given commensurate sanctions, he added.

In addition professionals in the built environment are more likely going to pledge to work together and avoid rifts and unhealthy competition. Earlier, president of the Nigerian Society of Engineers (NSE) ,   Babagana Mohammed and immediate  past president, Nigerian Institute of Building ( NIOB), Kunle Awobodu, respectively, called on leaders of various professional bodies in the built industry on the need to work together as a team to nip cases of incessant building collapse in the bud.

In a separate forum, the presidents identified rivalry and encroachments into other professions by members among factors the cases of building collapse persist in the industry.

To halt the trend, NIOB former chief, Kunle Awobodu, said it has become expedient for all professionals in the industry to come together, work jointly and shun issues that are promoting rivalry among them.

NSE president, Babagana Mohammed said there was a need to address the issue of building collapse in the sector, suggesting that any step being taken to halt structural failures would require advocacy among building professionals.

According to him, there would be need to work together as a team to confront the menace of building collapse.

“There are so many issues in this country which are not alright; and we come up as groups to address these issues. The number one is building collapse. As we heard, when a building collapses, the first culprit from our circle is a builder; but from outsiders, the first culprit is an engineer. So we need to attack this because lives are involved; we are losing our members.

“Builders are doing our work. Builders work with engineers; they also work with quantity surveyors. So we have now brought in a new understanding between most of us in the built industry that we must work as a team, we must watch our backs for the professions to grow,” the NSE president said.

He explained that every professional in the sector has his area of expertise, advising that everybody should be allowed to grow in his area of expertise rather than encroaching on other professions where he lacked know-how.

For this reason, Mohammed said he had been telling leaders of various professional bodies in the built environment on the need to work together.

According to him, they must work as one-strong front so that other people would not encroach into the professions and do what is wrong, while laying the blame at the door-step of engineers or builders.

GMH Luxury Homes has hosted an investment forum  on its Real Estate Investment Trusts (REITs) aimed at financing construction  and housing projects.

The scheme, tagged GMH Investment, is to fund the development of over 100 housing units in the next 48 months.

At the event tagged  “Wealth Acceleration For The 21st Century Nigerian”, GMH Luxury Homes CEO Ayoolarenwaju Kuyebi, an engineer, gave an insight into the background of the company. He also recounted the company’s strength and expertise in pilling and foundation for skyscrapers and tall buildings. He cited its projects such as the Godmade connect Court 3 in Ikate, Lekki Phase 1 as an example. It is a building of  eight floors.

“The real estate industry has continued to experience unprecedented expansion all through the decade, however with a population of more than 200 million people, a good percentage are still without a roof over their heads and considering the current constraints in construction, the supply still doesn’t meet demand.”

He attributed the slow pace of construction of houses to high cost of funds, inflation  and steady increase in the cost of building materials and skilled labour.

The GMH Investment boss said his firm was created to directly address the thorny issues in the sector and as a way of solving the problems associated with home ownership came up with GMH investment where investors can pull their resources into real estate constructions which in turn will earn annual returns.

Kuyebi said the funds invested by subscribers are used to construct affordable homes and also acquire landed properties for development in various states across the Nation.

“It offers investors between  15-45 percent on Return on Investment  (ROI) on their investment over a period of 12-24 Months with the minimum investment of N1 million, 5 times more than FGN Treasury Bills and other trusted investment initiative in Nigeria, he stated.”

The Head of Sales and Corporate Marketing, Mr Okeowo Olasubomi also addressed the issue of pricing in the market;

Okeowo said; “at GMH our houses are built with the pocket of consumers in mind.

That is, we build to budget. For example, our 1 bedroom apartment in Lekki 1 is just N35 Million, unlike what is currently obtainable in the market.”

Amid the rising housing deficit in Nigeria, D’Armani Group of Companies has birthed in lbadan. In a statement, the firm said it would expand operations across Nigeria in the coming years.

It said it’s mission was to modernise and advance the experience of buying, selling and developing real estate. Hence, the company aims to carry everyone along without any form of segregation.

“Everyone gets a piece of the cake; from the low income earners to the high income earners. We have properties that everyone can afford.”

The company is set to commence projects in Ibadan and Lagos simultaneously. One of such is D’Armani Plaza in Ibadan.  Delivery date is June, 2022.

In the next one to four months, investors, buyers and sellers should expect projects to spring up accross D’Armani estates in Moniya, Ibadan; Ibeju Lekki, Lagos; Aerodrome, Ibadan; Bodija, Ibadan; Apata, Ibadan and more.

The company is excited to bridge the gap of housing deficit in Nigeria through offering amazing deals to every member of the society. “We are set to open up Nigerians to the realities and possibilities of owning their own properties with ease.”

A new neighbourhood in a Kenyan town is to spring into existence in record time thanks to a world beating 3D printing technology.

Africa’s largest 3D-printed affordable housing project will be developed by 14Trees, a joint venture between Holcim and CDC Group, the UK’s development finance institution. The 52 house Mvule Gardens project will be located in Kilifi town, north of Mombasa, in Kenya.

Earlier this year, 14Trees built the world’s first 3D printed school in the Salima district of Malawi. This followed its first 3D-printed prototype house in Lilongwe, Malawi – built with precision in less than 12 hours, which significantly reduces the four days spent building a home with conventional building practices.

Building on a track record of speed and progress, the new complex in Kenya underscores 14Trees’ forward plan to support Africa’s innovation in construction and further develop 3D printing technology across the continent.

This project was made possible by Holcim’s proprietary ink, TectorPrint, giving the walls structural function to bear the load of the building. The new technique reduces the environmental footprint by more than 50% compared to traditional processes and lowers CO2 emissions typical to standard methods of cement production.

Further, 14Trees identifies natural fibre components to strengthen best practices in 3D printing for construction in Africa and creates locally based skilled jobs in sustainability and 3D technology operations, among other areas.

The new 52 house community will be part of the Green Heart of Kenya regenerative ecosystem, a Kenyan model for inclusive and climate-resilient cities. The project is testament to 14Trees’ high regard for sustainability and won the IFC-EDGE advanced sustainable design certification, recognising resource-efficient and zero-carbon buildings.

In addition, the purpose-built design by the United States – Africa based architectural practice, MASS Design Group, seeks to provide modern and replicable housing units adapted to the needs of underserved communities among lower-income households.

Jan Jenisch, CEO, Holcim: “We are excited to be building one of the world’s largest 3D-printed affordable housing projects in Kenya. With today’s rapid urbanization, over three billion people are expected to need affordable housing by 2030. This issue is most acute in Africa, with countries like Kenya already facing an estimated shortage of two million houses. By deploying 3D-printing, we can address this infrastructure gap at scale to increase living standards for all.”

The innovation is a valuable, rapid, and economical solution to the housing deficit in sub-Saharan Africa, which is estimated at 50 million units.

Kwara State Government has linked building collapse to corruption and negligence on the part of relevant government regulatory bodies.

It added that building collapse has also been caused by lack of coordination and synergy between built environment professionals in Nigeria.

Chief Executive Officer of the Kwara State Public Procurement Agency Raheem Abdulbaki said this in Ilorin at the opening of a four weeks training programme organised for construction professionals in the public service.

Abdulbaki, a quantity surveyor, added that 150 civil servants in the built environment professions would undergo the four-week capacity training.

He said: “This capacity training is intended to be a reference point that will engender the desired enabling environment for the development of the skills of professionals vested with the mandate of designing, costing and supervising construction projects in the public service of the state.

“There is no doubt in my mind that this training is not only apt, but timely, in view of the recent ugly developments in the construction industry. I mean the case of Lagos State where a-21-storey building collapsed in the course of construction leading to heavy loss of lives and many other cases like that.

“The intensive training will span four weeks. During the training, a total of 150 civil servants in the construction professions would be trained. They have been carefully selected from the ministries of works, energy, water resources, education, agriculture and rural development.”

Trainees have also been drafted from the Universal Basic Education Board (KWSUBEB), Kwara State Roads Maintenance Agency (KWARMA), Kwara State Water Corporation, Rural Electrification Board, Kwara State Housing Corporation and the state Rural Water and Sanitation Agency (RUWASA), among others.

A family in Magodo, Lagos State, has urged the state government to stop the Gateway Estate officials from denying them access to their land.

During a protest, their spokesperson, Baale Idiorogbo Ibaragun Kolawole Rasaki Olowooto, said though they initially owned the land, as soon as they gave it out for construction of the estate, they were denied access to there land beyond the estate. He said there was a road leading to the land long before the estate.

He accused the estate of demanding acres of land and huge sums as a condition to access their land.

The community leader said they had reported the matter to the Area H of the Lagos Command, Nigeria Police and the House of Assembly but that nothing came of it.

“We want the government to help us. We need to access our land,” he said.

A representative of the Ojoko family in Isheri-Magodo, Mr. Bisoye  Badiah, wondered why the estate leadership would deny them the only access to their land. He said their fathers gave the land on which the estate was built to the landlords.

He admitted that initially things went on smoothly until the current administrators of the estate. He alleged that the estate officials chased away those they sold land to and gave them a wrong impression of the area.

“We are appealing to the state government to intervene in the matter so that they can allow us access to our land,” he said, adding: “This is the only road to our land. You can’t deprive the family that granted you access to have properties not to allow the same access to the remaining plots.”

Efforts to reach the leaders of the estate were futile at the time of filling this report.