The Nation Newspaper

Category: Building & Properties

  • Expert explains reasons for low property value

    How level of awareness prevalent in managing property has been identified as one of the reasons property owners get less value for their property.

    BabsGbollys Properties Limited Managing Directoe/CEO, Mr. Babalola Odunuga, who spoke in Lagos at a forum on facility management, said maintenance come tops as buildings and individual houses need regular maintenance of the physical features, plumbing, and electrical systems.

    According to him, this becomes imperative, given that anything could happen at any time, and repairs have to be attended to immediately to avoid inconveniences to tenants.

    “The best solution for managing maintenance issues is to have a preventive maintenance plan in place, the same way you have a regimen for servicing your car, and you need competent professionals attending to the repairs as they arise,” he said.

    Odunuga said customer service excellence, has always been and will always be one of his firm’s critical competitive advantages as people often strive to make a customer, not a sale. This, he explained, is why when complaints about issues with other tenants arise, such issues should be attended to with dispatch.

    He said every complaint is looked into and never ignored, especially the ones that show potential problems in structural aspects of the building. “Our tenants often commend us for the speed with which we address their complaints as they are being heard and appropriate action taken.

    “In recent years, probably due to the recession, the issue of not receiving rent on time has been on the rise and it is now a major issue faced by most property owners. While the defaulting tenants have a range of excuses at hand for not making, missing or even late payments, all these concerns are often causes of apprehension for property owners,” he said.

    According to him, this could be addressed by going around and sending reminders as due date approaches and collecting payments on the due dates. This has brought the rate of defaulting down considerably as tenants are now aware that they have to keep their payments ready on time. He said levy or penalty by way of late fees is imposed and is usually a percentage of the total amount owed, adding that this strategy usually works if enforced strictly with precision and reason.

    Odunuga regreted that at this time of economic hardship, profitability on properties remained a major challenge faced by owners and managers of such properties. One of these challenges is the now prevalent sight of properties or units in some properties laying vacant over a long period of time.

    With the right use of the various marketing communications technique, he is hopeful that it will help in attracting clients to the property. Besides, he is convinced that proper advertising and good reputation about a property can make major difference in getting the right tenants.

    “Sometimes, even when all the units are occupied, the business might still run into losses and this could be for a number of reasons. This could be due to charging tenants low prices, or even due to improper overall management,” Odunuga explained.

    In assigning the proper market rental price, he said it is necessary to have an assessment of the property; and also analysing the ability of people in the area to pay. However, Odunuga further stated, in most cases “losses occur due to improper overall management, and the best solution is to hire a professional property management company that is offering comprehensive services for handling all aspects of the property,” he submitted.

  • ‘Why we focus on Abeokuta infrastructural devt’

    The Ogun State commissioner for Works and Infrastructure, Olamilekan Adegbite, has said the state focused more on infrastructural development in Abeokuta, the state capital, because of its “discouraging condition” to intending investors at the inception of the Ibikunle Amosun-led government in 2011.

    Adegbite, who made this known during a radio programme in Abeokuta, described Abeokuta’s condition then as “sleepy and rusty” needing that needed and immediate turn around.

    Adegbite, also in a statement by the Head of Media in the Ministry, Ayokunle Ewuoso, said the immediate development of the capital was imperative to the government, because the investors the government was attracting were concerned about the state of infrastructure in the capital.

    “When we came into office in 2011,we undertook a general survey of the state of infrastructure. It was an obvious conclusion that most of the infrastructure were dilapidated, so we mapped out a strategy, talking about the Senatorial districts, picking essential roads that will join major cities and areas. But we put particular emphasis at that time on Abeokuta, because it was a sleepy and rusty town at that time and not looking like any state capital.”

    He said this was important “to us as a government, because the investors that we were trying to attract, using these infrastructure will come seeing the government and the seat of power”.

    “The condition of the state capital was very discouraging, so we needed to put a lot of emphasis on that. Seven years down the line, we have done considerably well in the infrastructural growth of the whole state,” Adegbite said.

    The commissioner, who was of the opinion that the infrastructural development of the state has greatly enhanced its Internally Generated Revenue (IGR), said it has at the sametime,  moved the state from its former record as the least friendly state in terms of doing business to one of the best in recent times.

    He pointed out that the several roads being constructed by government, particularly within the state capital, have given the state the necessary economic growth, leading to increase in government revenue.

    Adegbite assured that the state will do it best to complete most of the ongoing road projects before the terminal date of Governor Amosu’s administration.

  • Govt to tackle ecological challenges

    The Federal Government  said it is committed to tackling the myriads of ecological challenges facing many states in the country.

    The Minister of State for Agriculture and Rural Development, Senator Heineken Lokpobiri, who made the pledge in Umuahia, Abia State, at the inauguration of a completed Erosion and Flood Control project at Ukwudara-Amachara in Umuahia South Local Government Area, said that the federal government is determined to reposition the country to ensure equity, justice and fair play.

    “The present administration is committed to reposition and steer the ship of the nation back to the path of prosperity and sustainable development.”

    He said the conception and timely completion of the Ukwudara-Amachara erosion and flood control project was in line with the administration’s promise to meet the people’s needs.

    The minister expressed the hope that the project would enhance the standard of living of the people of the area.

    Lokpobiri noted that the intervention would help to check the risk to life and property posed by erosion and persistent flooding in the community.

    He urged the people of the community to take up the responsibility of maintaining the project in order to ensure its sustainability.

    He charged them to avoid indiscriminate dumping of refuse into the drains built to channel rain water out of the road.

    In his speech, Gov. Okezie Ikpeazu thanked the federal government for its intervention, saying that the measure would help to preserve the environment from further degradation.

    Ikpeazu, who was represented by the Secretary to the State Government, Dr. Eme Okoro, said the state was ravaged by erosion and flooding.

    According to him, the phenomenon poses serious threat to farming and agriculture.

    “With this control measure, our soil nutrients would be preserved and agriculture would thrive,” the governor said.

    In his remarks, Chief Sam Onuigbo (PDP), representing Umuahia/Ikwuano Federal Constituency, expressed joy over the successful completion of the project.

    Onuigbo thanked the Federal Government for its intervention and hoped that the Okwe-Obuohia erosion control project, which was ongoing, would be completed in record time.

    He said that there were over 40 massive erosion sites within his constituency and appealed to the Federal Government to come to the aid of the state.

    The traditional ruler of the community, Eze Akpunku Ihuwa, and the President-General of the area, Mr Sunday Andrew, expressed delight over the successful completion of the project.

    They appealed to the government to ensure the completion of the community road which, according to them, was awarded to the Niger Delta Development Commission.

  • Ministry harps on environmental law enforcement

    The Lagos State Government has resolved is partnering  the Nigeria Security and Civil Defence Corps (NSCDC) for the enforcement of environmental laws.

    The Commissioner for the Environment, Mr. Babatunde Durosinmi-Etti made this known when he received the Commandant, Lagos Command, of the Civil Defence Corps, Mr. Tajudeen Balogun, in his Office.

    Durosinmi-Etti said the enforcement was necessary to achieve a clean, healthy and sustainable environment and prevent epidemics in the city.

    He said Lagos had strengthened its regulatory agencies, such as the Lagos State Environmental Sanitation Corps (LAGESC) to enforce compliance to standard and regulations, and curb unsanitary behaviour.

    The commissioner said  monitoring, enforcement and compliance of the law had improved. He praised the NSCDC for the deal.

    His words: “Through the support of Nigeria Security and Civil Defence Corps, we have achieved a lot over the years and we want to solicit more to achieve cleaner, healthier, safer and liveable Lagos.”

    Balogun assured of his command’s support to the government, saying that the  government and NSCDC in  forestalling environmental disasters through the enforcement of environmental laws.

    He commended the Ministry for  ensuring a healthier and cleaner environment.

  • Propertymart unveils Fairmont Lekki land scheme

    Still relishing the success recorded in the roll-out of its medium housing model – the Fairmont Estate, Arepo, in 2017, real estate firm, Property Mart, has introduced “Fairmont Lekki,” in Lagos State.

    With Fairmont Lekki, which basically comprises of land sale promo the firm aims to demystify the perception that middle class citizens cannot own a property in the highbrow Lekki axis. The property is located at Fairmont Sangotedo, near the Novare Mall.

    The Managing Director of Property Mart, Deji Fasuwon, explained that his does not just believe in housing that meets subscriber’s need, but also in examining the challenges at every point in the housing value-chain and providing credible answers which meet the need of its clients.

    He explained that with the Fairmont land-sale in Lekki, Propertymart  is steadily reversing the country’s housing deficit, especially in an area most people believe is out of their reach like the Lekki corridor.

    Speaking further on the edge of the Fairmont Lekki offer, Fasuwon said a parcel of land in the scheme sells for N12 million, far below the prevailing market value of about N20 million in the axis. Besides, he explained that his firm has put in place a flexible payment option for buyers spread over five years. Other benefits, he noted to include the absence of the traditional land grabbers and land speculators, as all legal documentation are given to buyers under the scheme upon the completion of payment; there is also no “hidden charges” in the transaction.

    “Besides the fact that Lekki stands out as the new Lagos with a lot of infrastructure and economic projects earmarked for the area, such as the Free-Trade Zone, the deep-sea port, the airport, the refinery project and many other, the area stands out as a corridor for those seeking long-term value from real estate investments, so the Fairmont land-sale deal could not have come at a better time,” Fasuwon asserted.

    The idea of the Fairmont, he revealed, was to create a luxury private community at a fast-growing location where quality is put into details with a perfect blend of urban and country living at an affordable cost. The estate, he said, is also being carefully conceptualised to give a well-planned environment with lush green gardens, extensive walkways and modern infrastructure putting into consideration serenity, splendor, security and space. Its aesthetics is further heightened by availability of street lights, paved roads, good drainage, recreational facilities, security patrol and easy transfer of ownership.

    “At Propertymart, we believe that the way to bridge housing deficit in Nigeria is to create access through innovative vehicles such as this and we are poised to sustain the Fairmont innovation well into the future,” Fasuwon said.

  • 3,000 benefit from Lagos housing initiatives

    The Lagos State  Ministry of Housing has handed over keys to another set of 150 winners in the state’s Rent-to-Own (RTO) housing scheme.

    This brings to 650 the number of beneficiaries since its introduction by Governor Akinwunmi Ambode.  The RTO is an improvement on the former State Home Ownership Mortgage Scheme.

    Under the scheme, only a five per cent deposit is required by the allotees, while the balance is spread over a 10-year period. Hitherto, intending home owners were required to pay 30 per cent equity contribution on property allocated to them before taking delivery of same.

    This policy initiative, according to Commissioner for Housing, Gbolahan Lawal is enable residents  have decent and affordable housing.

    “The handing over of keys to another batch of 150 people, brings the number of allottees to 650 so far. What this implies is that a total number of 3,000 people have so far benefited from the scheme if calculated at an average of five persons per family. The state has about 5,008 housing units in 12 different locations across the state dedicated to the rent-to-own housing policy.

    He said the policy enables aspiring homeowners to pay five per cent of the value of the property and spread the balance over a period of 10 years.

    Lagos State Mortgage Board General Manager, Dehinde Tunwashe, explained that the allocation, and previous ones, had  been carried out in a “fair and just” manner.

    He appealed to the allottees to be prompt in paying their monthly rent, adding that this would  encourage the state government to build more houses.

    Tunwashe said it was mandatory to pay insurance premium on the policies put in place by the state government to safeguard their property against any form of disaster.He further urged the allottees to cooperate with the facility managers and ensure that the facilities in the estates are put to good use.

    Also, Lawal said to prevent its estates from degenerating into slums, the government had made it compulsory that facility managers are engaged for the management of new state-owned housing estates. Facility managers, he explained, would ensure that the estates were well-catered for.

    Other initiatives by the government to make housing  available are the Rental Housing Programme, targeted at persons with irregular income or who are unable to meet the requirement of the five per cent commitment for rent-to-own; and the Lagos Affordable Public Housing initiative (LAPH).

    LAPH is a joint venture between the government and the private investors to construct 20,000 housing units over four years.

     

  • Experts reveal how to tackle inadequacies of building artisans

    Adoption of new  techniques is the panacea for inadequacies in building workmanship, the Nigerian Institute of Building (NIOB) First Vice President, Kunle Awobodu.

    Speaking at the inauguration of the new executive members of the Lagos State Bricklayers Association held at the National Stadium, Surulere,  Awobodu, a former Building Collapse Prevention Guild (BCPG) president, urged bricklayers to key into the training for artisans under the Federal Government N-Power Programme initiative.

    The programme is coordinated by the office of the Vice President under the National Social Investment Office (NSIO) in partnership with the regulatory body of the building sector, the Council of Registered Builders of Nigeria (CORBON).

    Awobodu said a tour of the training centres revealed that the majority of those learning masonry trade were graduates of various disciplines. With this development, he said it could be logically deduced that future masons or bricklayers would be more advanced in technical knowledge and skills.

    He stressed the importance of skills upgrade in brick or block laying and rendering. He advised bricklayers to abide by the appropriate construction procedure from the onset of their work on site rather than make bypass that could lead to shoddy job.

    Awobodu said when a bricklayer adhered to the guidelines provided by the professional builder, the expectations of the client and other stakeholders would be met. He urged bricklayers to participate in the skills acquisition programme for building artisans at the training centres across the six geo-political zones.

    ULDA Institute Director, Gbola Oba, emphasised on the need for bricklayers to submit themselves for assessment under the National Vocational Qualifications Framework (NVQF) to discover the shortcoming they have, proffer solutions to the shortcomings and place every bricklayer in the appropriate grade.

    A former Minister of State for Defence, Senator Musiliu Obanikoro, noted the relevance of bricklayers in the society and urged them not to betray the trust reposed in them by ensuring that sharp practices were not incorporated in their sites.

     

  • LASEPA declares hospitals, libraries, courts noise-free zones

    The government has declared public institutions noise free, the General Manager, Lagos State Environmental Protection Agency (LASEPA) Anthonio Ayodele has said.

    Listed among such institutions are hospitals, libraries, court premises, and Government Reserved Areas (GRA), which noise/horn free signs would be installed.

    He disclosed this at the third stakeholders interactive session with the theme: ‘Noise pollution abatement evaluation in an emerging smart city, two years retrospect’. It was organised by the Lagos State Environmental Protection Agency (LASEPA) at  Alausa.

    Ayodele said the move was to make citizens imbibe the culture of a serene environment.

    He said the signages prohibiting noise would be installed by the agency.

    Ayodele, who disclosed that Agege and Alimosho for the past two years, have remained local governments with the highest noise pollution complaints, said worship centres have been identified as the worst spot of noise pollution, followed by the entertainment industry.

    “Increase in noise pollution from both indoor and outdoor activities of hotels, bars, clubs, lounges,beer parlors, and event centres among others in recent times became a source of concern to the government, especially where residential houses are converted for such purposes without necessary approvals,” he said.

    He said the time had come for the growth of smart solutions to th menace of noise pollution before it becomes intractable.

    Reflecting on past activities of the agency, Ayodele said LASEPA over the years had engaged in aggressive advocacy and mediation across the state to ensure peaceful co-existence of all segments of the society.

    He said 2016 conflicts were resolved between 2016 and last year, and to save time and resources of petitioners, the agency processed online complaints through an interactive website where citizens can generate complaints over environmental pollution issue without necessarily appearing at the agency.

    “Agency officials also embark on spy missions to get evidences of pollution without prior notice,” he added.

    The LASEPA chief said the government is committed to ensuring the realisation of a noiseless Lagos and urged all stakeholders to develop a culture of sustainable noise management even at the grassroots.

    “We must come together to redress noise pollution and develop a culture of sustainable noise management in all sectors of the economy,” Ayodele said.

    He said the need for positive attitudinal change by all was the way to good governance which is the desired goal of the state government.

    He also LASEPA with the Ministry of Transportation would  resuscitate the October 15, ‘Horn Free Day.’

    Earlier, the Commissioner for the Environment Mr Babatunde Durosinmi-Etti advocated self-compliance in all areas of the environment as the way to go to improve standard of living of the people.

    Durosinmi-Etti, who harped on Governor Akinwunmi Ambode’s commitment to improving the quality of life of citizens said nothing would be achieved if citizens fail to actively contribute their quota to the promotion of a serene and peaceful environment.

  • Firm delivers resort centre on BoT agreement

    Allied Trust and Systems Nigeria Limited (ATSL) has inaugurated a newly completed resort centre in Lagos.

    The complex, known as Funplex Resort Centre, was developed on a Build, Operate and Transfer (BOT) agreement between the company and the National Planning Commission (NPC) to develop and manage the facility for the Centre for the Management Development (CMD), Lagos.

    Under the agreement, 5.02 hectares of land belonging to CMD was given to ATSL to renovate the former’s 30-room Guest House; construct a 102-room guest house with a four-star facility; build and operate a 1, 000 seat conference facility and pay a graduated yearly rent to the CMD management in three tranches over the lease period.

    ATSL Managing Director, Mr. Emeka Nwasike said, the concession  is to develop the latter’s Guest House, sitting on an expanse of land in Magodo, Lagos.

    According to him, not only has ATSL succeeded in transforming the guest house, the company has  ahead  to develop the property, turning it into a five-star relaxation centre through the establishment of several other businesses within the property.

    He revealed that the event centre which is part of a mix called Funplex Resort is a one-stop-shop for fun and entertainment. “Our goal is to provide Nigerians with an event centre that can cater for all their corporate and social needs,” he said.

    Features in the facility include a gym, spa, beauty saloon, cinema, a bush bar, an underground club house and event halls that have the capacity to sit over 2,000 guests comfortably.

    “It has modern facilities like air conditioning systems, well-furnished VIP suites/changing rooms, a standard performance stage and entertainment technology systems” he said.

    A former CMD Director-General, Dr. Joseph Maiyaki, who was in office when the institute and ATSL signed the agreement, described the project as a good example of a public-private partnership.

  • Experts reveal how to tackle inadequacies of building artisans

    Adoption of new  techniques is the panacea for inadequacies in building workmanship, the Nigerian Institute of Building (NIOB) First Vice President, Kunle Awobodu.

    Speaking at the inauguration of the new executive members of the Lagos State Bricklayers Association held at the National Stadium, Surulere,  Awobodu, a former Building Collapse Prevention Guild (BCPG) president, urged bricklayers to key into the training for artisans under the Federal Government N-Power Programme initiative.

    The programme is coordinated by the office of the Vice President under the National Social Investment Office (NSIO) in partnership with the regulatory body of the building sector, the Council of Registered Builders of Nigeria (CORBON).

    Awobodu said a tour of the training centres revealed that the majority of those learning masonry trade were graduates of various disciplines. With this development, he said it could be logically deduced that future masons or bricklayers would be more advanced in technical knowledge and skills.

    He stressed the importance of skills upgrade in brick or block laying and rendering. He advised bricklayers to abide by the appropriate construction procedure from the onset of their work on site rather than make bypass that could lead to shoddy job.

    Awobodu said when a bricklayer adhered to the guidelines provided by the professional builder, the expectations of the client and other stakeholders would be met. He urged bricklayers to participate in the skills acquisition programme for building artisans at the training centres across the six geo-political zones.

    ULDA Institute Director, Gbola Oba, emphasised on the need for bricklayers to submit themselves for assessment under the National Vocational Qualifications Framework (NVQF) to discover the shortcoming they have, proffer solutions to the shortcomings and place every bricklayer in the appropriate grade.

    A former Minister of State for Defence, Senator Musiliu Obanikoro, noted the relevance of bricklayers in the society and urged them not to betray the trust reposed in them by ensuring that sharp practices were not incorporated in their sites.