Category: Property

  • ‘Housing would have fared better with professionals’

    ‘Housing would have fared better with professionals’

    Professionals in the built environment believe the sector would have been better if it had any of them at the helm, writes Asst. Editor OKWY IROEGBU­CHIKEZIE.

    The housing and construction sector has a myriad of problems. Though the issue didn’t start today, it became tougher when the government refused to prioritise housing. 

    For example, professionals are lamenting that after almost two decades after the National Building Code (NBC) was introduced after it was worked on by their representatives to move the nation forward as far as rules of engagement, home ownership, mortgage, quality of materials, standardisation,  penalties for offenders were concerned, the document  has been tampered with.  

     Now there are several codes, though some professionals still claim to be in possession of the original document. But, the Bill sent to the National Assembly is yet to be passed. 

     There are several variants of the code. But this would not have been so, if their colleagues were to be in the saddle.

    The National Building Code laid down the minimum provisions buildings needed to ensure public safety on structural sufficiency, fire hazard and health aspects. It contains administrative provisions, development control rules and building requirements. It also serves as a mode code (MC) for the adoption by anybody involved in construction in the public or private domain.

    Earlier, while assessing the sector, Fellow of the Institute of Estate Surveyors & Valuers (NIESV), Asiwaju Kola Akomolede, lamented that the government had not been fair to the sector. He frowned that the Ministry of Housing  and Works that is expected to be a stand alone as a result of its growth potential, which used for measuring the Gross Domestic Product (GDP) of developed economies, is relegated to the background in the country. 

    Akomolede, also a member of the International Real Estate Federation (FIABCI), also lamented that housing has never been given its due because professionals are not manning the ministry. “After appointing a non-professional outside the built environment, they will appoint a professional as a Director in the ministry, how much influence will a Director have in decision making in a ministry?” he asked. 

    He advised that successive governments should be measured by the number of houses they built, the number of home-owners and those who moved up, from say a room apartment to two-bedrooms. He stressed that unless the sector is given its due relevance by the government, economic growth would be lagging.

     Also a builder, Okechukwu Nnadi, said the Housing and Works Ministry is probably the only ministry where people who have little or no knowledge of the sector are appointed to head it. He asked if a lawyer could be made the minister for Health or Finance. If not, why do so in Works and Housing? he asked, adding that the economy and populace are paying for it. He canvassed the need for the incoming administration to do the right thing and give professionals the opportunity to run the ministry.

     Chairman, Council of Registered Builders of Nigeria (CORBON), Dr. Samson Opaluwah, regretted that housing has not been given the primacy that it deserves, because over the years, the policies that governments routinely rolled out were not in touch with the needs of the average Nigerian. Worse still, they are poorly implemented. 

    He said: “Provision of appropriate housing  with the right professionals should be a constitutional matter and the experts should be in place to deliver the right policies  to the latter.

    “Nigeria has the resources and expertise to ensure that every citizen access appropriate housing for their status. An imaginative and deft arrangement can be put in place for vulnerable groups by providing social housing for them. I call upon the candidates canvassing votes in the forthcoming elections to place housing on the front burner of their agenda.

     “The National Policy on Housing should be such that it will target specific segments of the society with products targeted at their needs. A cursory look at housing provision in our urban centres indicates a neglect of two important segments of our population, those starting out life after graduating from tertiary institutions and the artisanal tradesmen because the right professionals are not those.

    “A national policy, keyed on the utilisation of professionals, as agents of implementation with a nationwide reach, will go a long way to address the challenge of housing. Governments at all levels should also take housing for the vulnerable segment of our society as a social responsibility. Embarking on urban renewal of our city slums will dramatically improve the quality of life.

    He continued: “Finally, the housing finance sector must be compelled to promote the provision of housing and not profits as their indices of success. The Central Bank of Nigeria (CBN) and other regulatory agencies must see housing not only in terms of the cash disbursed but in terms of the actual buildings produced and occupied.

     “Those starting out cannot afford the huge rents for spaces they do not need and the artisanal groups are the major occupants of our cities, unplanned, unregulated urban slums. The challenge posed by the neglect of housing provision for those in the lower strata is clear for all to see and everything should be done to bridge the gap.

     “After many years, the National Building Code (NBC) has not been domesticated by many states. The NBC is a document produced by the professionals in the built environment as the standard of practice to be adopted in Nigeria.This was embarked upon and approved by the Federal Government. It contains guidelines and standards for the efficient and effective construction and management of buildings.

     “Housing is a concurrent issue.Therefore, states have to domesticate the code and enact enabling laws to enforce it in the states. Some states have done so and a number are at various stages of domesticating the code.The reason for the slow rate of action by some states may be due to ignorance or low level of advocacy by those who should push for it. Our governments are yet to appreciate the multiplier effect of construction activities on the economy of the country.

    “The key word here is to allow professionals to take  charge of the Housing and Works ministry, if this is done the difference will be clear.

     “The construction industry is the largest employer. And when manufacturing picks up, production of building materials will also be the largest economic bloc and many people will graduate as it were from one level of   house type to the other this is also a way of knowing if the nation’s economy is growing or not.

     “As a body, we clamour for the operation of the NBC to  aid us to regulate the practices on the building construction sites and place specific responsibilities on every practitioner on the site.It is meant to professionalise the building process.”

     The NBC has, in its provisions guidelines for periodic reviews. These reviews will take care of advances in technology, methodology and production techniques. It would also address the emergence of new expertise in the industry.

    The professionals in the built environment are, however, seeking the enactment of an Act of the National Assembly to give legal backing to the implementation of the NBC. When that is done, it will become an offence to build contrary to the NBC. Until the law is passed, the NBC remains a convention and a document stating good and acceptable practice but without the force of law.

  • I’ve never seen a developer reward clients – Home owner Bamidele

    I’ve never seen a developer reward clients – Home owner Bamidele

    Home owner Badmus Bamidele has showered praises on real estate developer, Ijomah Chibueze Charles, for rewarding his clients.

    He stated he has never seen a developer reward clients because most of them are actually concerned about their profits.

    The public servant said: “I’ve stayed in other estates and I’ve never seen a developer reward their residents like this before. I witnessed a neighbor being rewarded with over a million Naira cash prize.

    “Ijomah Chibueze Charles is one man that has lived to his words, and has match service, and loyalty with rewards.

    “We appreciate him for this magnificent prizes, and with this gesture, others will be rushing to patronize his brand.

    “There’s nobody that doesn’t want to be rewarded. What it means is that, if I spend money to decorate my home, and make it beautiful, I can be rewarded for it.”

  • An investment destination

    An investment destination

    Over the next 20 years, analysts expect that the value of global investable real estate will grow by an average of 5.2 per cent yearly to exceed $85trillion in Nigeria. Asst. Editor OKWY IROEGBU-CHIKEZIE reports

    Investment in the real estate will remain attractive in the year. Millennials and Generation Z are expected to influence 2023 spending in excess of $600 billion globally as they will be interested in real estate investment.

    It is expected that in the year, property agents would report growth in tenant requirements for apartments in cities with the accompaniment of a swimming pool, with an income generating short stay apartment with the specifics that will make the house a complete course.

    Data from the United Nations suggest that Abuja will be the fastest growing city in Africa, exceeding six per cent growth by 2025. Lokoja, the Kogi State capital, ranks fourth on the list with a projected 5.93 per cent growth. This will make the demand for infrastructure and housing increase. Commercial capital of Lagos,  Abuja and Port Harcourt will likely witness a high demand of studio flats as the millennials will not settle for less.

    The government and its regulators in the construction and real estate will have to show their presence and remain proactive to forestall those developers and individuals from cutting corners.

    The Nation has reported many deaths in the sector as a result of non- compliance by developers, individuals and compromise by the government and her agencies. In Lagos there is a rule that any building that collapses during or after construction, the land will be forfeited to the government. But this has not been fully implemented.

    Apart from the collapse of old buildings, new structures under construction are also caving in.This scenario has made residents to begin to doubt the sincerity or seriousness of the government and professional bodies in their fight against building  collapse.

    Former President Building Collapse Prevention Gang (BCPG), Kunle Awobodu said the effect of these frequent collapses is that data on collapsed buildings keeps changing at a high rate. He called on his members to update their data. He said, consequently, the number of reported or documented collapsed buildings in Nigeria since October, 1974 is close to 600 while Lagos State alone, the figure stands at over 320.

    “In that case, Lagos State accounts for 63 per cent of collapsed buildings in Nigeria. Yet, it has the smallest land area among the 36 states of the federation. Other states  with almost equal frequency are Abuja,  Rivers, Anambra, Enugu,Imo and Abuja,’’ he said.

    Awobodu lamented that owners of collapsed buildings usually try to conceal the information to circumvent the confiscation of their land by the government. For this, he said, the BCPG records of collapsed buildings consists only of the ‘exposed’ or reported collapsed buildings.

    Experience has taught us that each time a building collapses, experts in other parts of the world tend to doubt the competence of professionals in the industry.Though building collapse is a global phenomenon, its frequency in Nigeria has attracted a world-wide concern.

    Despite various tribunals and panels set up by the government to unravel the cause of building collapse and to punish offenders, the ugly incident has refused to stop, while no conviction has been made.

    Also, there has been reported building collapse in almost all the states of the Federation, but Lagos occupies the unenviable position accounting for 63 per cent of the building collapse probably as a result of the huge population, topography and the rush to get rich quick by some developers. Few weeks ago, a seven-storey building caved in the Oniru area, Victoria Island, with two other incidents in Kubwa-Abuja and Kano last week.

     But, the President, Nigeria Institute of Quantity Surveyors (NIQS), Olawale Shonubi, said the trend in the built environment, where engineers hijacked the role of quantity surveyors, thereby creating a vacuum in the delivery of accurate quantities is a major issue.

    Shonubi explained that it was only in Nigeria that the Bill of Engineering Measurement Evaluation was used in contract awards instead of bill of quantity, which only quantity surveyors could use to bring down the cost of projects.

    He said the trend was difficult to correct because “once you have something that has become a norm it takes time to change”.  He advised professionals to stay in their lane to avoid spate of collapses.

     He called for stiffer penalties to curb building collapse, including one for erring professionals who cause building collapse.The inclusion of life imprisonment or death sentence to laws could make construction offences less attractive.

    He lamented the rising spate of collapse of buildings under construction in recent times accompanied by loss of lives, property, investment and income/livelihood caused by corruption.

    Shonubi advised the Lagos State government to strengthen policies for obtaining planning approvals/building permits and enforcement of laws to ensure adequate monitoring of constructions.

    “The governments at all levels need to strengthen the laws that govern the construction process and should include provisions for severe penalties, not only fines, for everyone involved in any collapsed building project from approval level to execution level.

    “Endemic corruption has blinded most from adherence to professionalism so much so that they don’t care to sacrifice money for human life.

    “We have got to a stage where professional blacklisting as a punitive measure alone is not sufficient and no longer addresses the issue as erring professionals can always get something else to do to make a living.

    “But when an erring professional is made to face life imprisonment or death sentence, I reckon that this will help to bring sanity as well curb these untoward developments,” he said.

    While decrying the skyrocketing costs of construction materials, he called for the adoption of locally sourced materials and technology to bring down the cost of building.

    Shonubi urged the Federal Government to adopt policies that would encourage local production and tackle energy costs to aid manufacturing.

    “It will be a win-win for us because it will create employment and bring down the cost of Forex, if this is not checked  sharp practices will continue and buildings will continue to collapse,” he stated

    In addition, 2023 is expected to witness an avalanche of  1 and 2 beds, which  is a staple of the average portfolio. Second-tier cities are predicted not to be too far behind with developers launching small sized gated communities. 

    The Special Adviser to the Lagos Governor on Housing, Mrs. Toke Benson-Awoyinka, appealed to real estate practitioners and  the public to join hands with the government to eliminate unethical practices in the sector.

    Another operator, Anselem Izuchukwu, also predicted that in 2023 warehouses would become even more critical to the functioning of the economy as flexible terms and smaller space requirements have come to characterise the Grade A office market. Flexible terms and smaller space requirements have come to characterise the Grade A office market. secure, technology-driven environment, he stated.

    He said the sector’s outlook would be predicated on the migration to e-commerce and remote working is expected to last long after the pandemic has passed, altering the frequency and use of workplaces.

    The approval by the Federal Executive Council (FEC) for the purchase of office blocks in Kanti Towers, Victoria Island for the Nigeria Maritime Administration and Safety Agency (NIMASA) headquarters  is a pointer to what the real estate sector would look like even from the government’s angle infrastructure company.

    Equinix had announced its intention to acquire Nigeria’s data centre and connectivity giant, MainOne for $320million. Local investors across residential, r e t a i l , demonstrated a growing, almost strident confidence in the real estate market and it is hoped that this will continue even in the  year

    Luxury lifestyle brands and properties will boost the economy. Also, in places where white-collar occupations are increasing, there will be an uptick in the demand for office space. Erstwhile local developers are proving more sophisticated, holding their own when compared with their African counterparts.

    A new thinking also  is that the year’s outlook  will afford Chinese banks  considering establishing operations in Nigeria which provides an opportunity to lead, potentially as the continent’s financial centre.

    It is also believed that the Ikoyi area of Lagos will continue to act as the peak of residential reals estate. Luxury developments dot its skyline and its price constitute the highest barriers to entry to any real estate market in the country regulation and enforcement.

    Second, there will be changes in demand in the local real estate market. Location, price, and finishing have traditionally trumped quality and even size in real estate demand.

    However, with this recent occurrence, there will most certainly be a shift in demand for quality. Due to economic realities, low-grade real estate items will continue to be  in high demand.

    In the short term, structural integrity tests will become commonplace and structural integrity will be given more emphasis in general. The winners will be the construction businesses and developers already known for high quality, who will be able to charge more for the quality assurance they provide.

     A major break in the year will be the completion of the N5billion Purple Sukuk Bond private placement. It is  supposed to  be put in to  housing units in its urban residential development comprising mostly four-bedrooms semi-d e t a c h e d  m a i s o n e t t e s and penthouses, as well as two, three- and four-bedroom flats right off Freedom Way in Lekki Phase 1, Lagos.

    Despite this promising outlook, some, however, argue that Nigeria does not  p r e s e n t     a n   a t t r a c t i v e  i n v e s t m e n t opportunity due to its volatility and government missteps.

  • Wisdom Kwati awarded Nigeria’s most respected CEO in real estate

    Wisdom Kwati awarded Nigeria’s most respected CEO in real estate

    MD/CEO of Karabow Group and Wisdom Kwati Smart City, Wisdom Kwati, has been recognised for his outstanding performance in the real estate sector.

    He emerged as Nigeria’s most respected CEO of the year amongst other nominees in his category after a public voting exercise. The award was conferred to him by the organizers of the Business Executive Nigeria.

    The event which took place at Sheraton hotel Ikeja on December 16th 2022, saw business professionals, entrepreneurs, top-tier government officials and a host of other dignitaries grace the occasion.

    During a briefing after the event, Wisdom Kwati, represented by a senior executive at Kwati Smart City, expressed gratitude to everyone who voted him for the distinguished award and reaffirm the company’s commitment to providing affordable smart housing to Nigerians, through the integration of ICT technologies to all their building projects.

    He said the firm has dedicated significant time to digitalization and innovation, and the team has several initiatives in the pipeline to ensure that Wisdom Kwati Smart City grows from one milestone to another.

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    He stated: “We recognise our quest towards exceptional customer experience, operational excellence and building sustainable communities which hinge on our ability to adapt, innovate and incorporate digital technologies into our development properties, this is why we have embraced and started implementing various digital and innovation initiatives internally and externally.

    “We recently acquired Borrowlite, a company that offers short-term credit in advance on all nine electric discos in Nigeria, so residents need not worry over network issues or delay that comes with recharging prepaid meters, we will be launching this and many other innovative initiatives in 2023.”

    He concluded that as Smart homes are gradually becoming a thing for most Nigerians living in luxury apartments, and there is a need for every Nigerian to understand and adopt emerging technologies into their living lifestyles.

    Wisdom Kwati Smart City is a real estate development company creating quality lifestyle experiences through real estate, agriculture, energy, tourism, commerce, manufacturing and education across Nigeria.

    The company has the vision to shape the future by redefining the real estate industry globally and building one million affordable smart homes across Africa by 2035.

  • Estate developers announce first water display park in Sub-Saharan Africa

    Estate developers announce first water display park in Sub-Saharan Africa

    Real estate firm, Meridian Properties Limited, has announced a groundbreaking project that will bring a 6000 square metres multi-sensory water display park to Lagos, the first of its kind in Sub-Saharan Africa.

    Situated along Lekki-Epe Expressway, with a proximity of 15 minutes from the proposed new airport, the developers revealed that Makarios Luxury Place is an iconic real estate development on approximately 84 acres built with the upper-middle class and upwardly mobile people in mind.

    The high-end estate with over 834 residencies – a mix of terraces, flats and detached apartments will provide occupants access to several high-quality shared amenities, including an 8106sqm retail mall, 1,500sqm communal recreation space, restaurants, fitness centre and an all-around elevated living experience.

    Speaking on the new innovation, the Head, Sales and Marketing of Makarios Luxury Place, Dr Julie-Emakpo Egwejemu, expressed her enthusiasm by describing the project as a perfect investment for upwardly mobile, urban dwellers who are seeking investments that suit their status.

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    “Makarios essentially will be a one-of-a-kind estate where people can live, work, eat, play and shop. It stands out as a testimony to the best offered in Africa’s largest and most populated city”, she stated.
    Early investors are now welcome as the developers have opened up sales to a limited availability of 50 plots only on a first-come, first-served basis.

    “Development is at full speed and 26 access roads in the estate are nearing completion. At Makarios, we won’t just sell you an unfathomable dream, we are backing it up with verifiable actions. In the next couple of months, this development will change both the skyline and general perception of Ibeju Lekki, showing the region’s growth and ability,” Egwejemu added.

  • LASRERA holds 3rd Lagos real estate marketplace conference

    LASRERA holds 3rd Lagos real estate marketplace conference

    Lagos State Real Estate Regulatory Authority- LASRERA has concluded plans to host the third edition of the Lagos Real Estate Market Place Conference and Exhibitions.

    The Special Adviser to Lagos State Governor on Housing, Mrs. Toke Benson-Awoyinka announced this. She informed the conference and exhibitions are scheduled for December 6-7, 2022 at Eko Hotel and Suites, Victoria Island.

    Benson-Awoyinka added discussions at the event will be in form of a town hall meeting on: “The Lagos Real Estate Emerging Markets – Mitigating Potential Risks”.

    Benson-Awoyinka said seasoned speakers are already billed for this year’s Conference and Exhibition to deliberate on potential risks in real estate transactions, Laws that protect Real Estate investment Transactions, Policies and guidelines about Lagos State real estate sector.

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    While assuring LASRERA will continue to play its role as the regulator in the built sector to strengthen and curb the potential risks for investors/investees in the Market, the Special Adviser urged individuals/organisations yet to register with the agency can do that at the conference.

    She promised that the Lagos State Government will sustain the platform of the annual Conference for the Stakeholders to brainstorm on how to ensure that Real Estate Business Transactions meet the Smart City vision T.H.E.M.E.S of the State Government.

  • Keymait launches, expands to six cities

    Keymait launches, expands to six cities

    Keymait, an online peer-to-peer lodging marketplace start-up firm, has launched operations in Nigeria.
    Started by three young Nigerian entrepreneurs Great Igwe as CEO; Temple Matthew as Chief Technology Officer (CTO) and Radiant Ekemini Tom as Chief Product Officer (CPO), the company, founded in 2021, is on a mission to provide travellers with a diversity of lodging options by connecting them with short-let apartments rentals and private homes of local vetted hosts primarily for vacation, business, tourism or religious activities across major cities in Nigeria.

    ‘’We saw the need to give travellers diversity of lodging, we also saw that the cost of lodging in Nigeria is astronomically high for a developing nation and we wanted to offer people a cheaper and more affordable travel experience where people can experience home even far away from their home,” the CEO Igwe said.

    According to him, the company gathered market data to determine if there was a viable market size for its product throughout 2021.

    The start-up has achieved tremendous progress and looks forward to expanding its user base in Nigeria. It also has a five-year market expansion plan into Ghana, Botswana, South Africa, Gambia and Ethiopia.

    On the aspect of solving problems, Keymait’s CTO Matthew said: ‘’We started Keymait to solve three pertinent issues which are providing access to affordable lodging options all from our easy to navigate the website and mobile application, providing homeowners and landlords/apartment managers a relatively easy way to earn money from their properties, and offering travellers diversity in lodging.”

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    The company takes pride in its user data and privacy policies. Hosting/booking on Keymait is simple and straightforward. All one has to do is simply register on the website and provide all the required information and documents.

    ‘’What makes Keymait unique is the community approach. Unlike some of our competitors who only service high-end travelers looking for expensive and luxurious apartments, Keymait is accessible to all.

    ‘’Anyone can be a host on Keymait provided they meet our hosting requirements and pass the vetting process. On Keymait, you will find luxurious duplexes, single rooms, shared spaces, or an entire bungalow,’’ the CTO Tom explained.

    Keymait is registered and headquartered in Lagos, Nigeria with Incorporation in the United States as a Delaware C-Corp, the company is in operation in the cities of Lagos, Abuja, Owerri, Port Harcourt, Calabar and Uyo.

  • AACS, Ali Bakhtiar Group Finance partner to introduce avant-designs in Africa

    AACS, Ali Bakhtiar Group Finance partner to introduce avant-designs in Africa

    AACS, an international management consulting firm, is set to partner renowned architecture, interior design and event company, Ali Bakhtiar Group, in introducing avant-garde luxury design projects in event designs , real estate designs , private jets and yachts masterpieces to the Nigerian and African markets.

    The partnership, which is looking at Nigeria as a hub for Africa, will create thousands of jobs across many fields in Nigeria when fully operational.

    At a session between the Founder of AACS, Dr Ayo Abina and Founder of the Ali Bakhtiar Group, Mr Ali Bakhtiar, in Lagos during a flower-themed master class session in Lagos at The Lekki Coliseum, the firms emphasised the importance of the niche market in creating jobs in the huge event industry and driving the high end market across Africa.

    Read Also: Alleged N785m fraud: Court orders arrest Abuja property developer Iwuanyawu

    The two founders resolved to work together in changing the face of the industry with a view to creating new opportunities for designers and other professionals in the design industry.

    A formal memorandum of understanding will soon be signed by the two organizations.

    The master class facilitated by Ali Bakhtiar drew participants from Nigeria and other West Africa countries. The master class took students across a flower-themed design for three days, ending with a grand ball to showcase the design in Lagos.

    Ali Bakhtiar Group has offices in Dubai, Monte Carlo, Italy, Switzerland and Greece.

  • How moguls in real estate are redefining sector

    How moguls in real estate are redefining sector

    According to The Africa Report by Knight Frank which gives the real estate market update for 2020/21, innovation offers investors exciting opportunities in the continent’s real estate markets.  

    It is no doubt that Africa is now firmly established as a leading destination for serious investors and with the dearth in decent housing, the real estate sector stands as one of the biggest beneficiaries if players are strategically positioned to tap into the available opportunities. 

    Africa’s major cities are experiencing dramatic transformation as a result of growing real estate investment. Nigeria and Gambia is one of several large African cities experiencing dramatic transformation as a result of growing real estate investment.

    This article will explore two major African real estate developers CEOs in those highlighted helping their countries on housing development.

    Mustapha Njie, commonly known as Taf, is a prominent Gambian businessman and entrepreneur. He is the founder and CEO of Taf Holdings Group, a diversified conglomerate with business interests in real estate development, construction, hospitality, and other sectors. Born in Banjul, The Gambia, in 1957, Mustapha Njie has played a significant role in the country’s economic growth and development.

    Njie’s entrepreneurial journey began in the 1990 when he established Taf Construction Company. Initially focusing on construction projects, the company gradually expanded its operations to include real estate development. Under Njie’s leadership, Taf Holdings Group has become one of the leading real estate developers in The Gambia, undertaking numerous high-profile projects such as residential complexes, commercial buildings, and luxury hotels.

    Njie’s entrepreneurial success has not only made him a prominent figure in The Gambia’s business community but has also earned him recognition on an international level. In 2010, he received the African Business Leadership Award for his outstanding contributions to the continent’s economic development. His commitment to entrepreneurship and his efforts to drive economic growth in The Gambia have inspired many aspiring entrepreneurs in the country.

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    Moreover, Mustapha Njie is known for his philanthropic endeavors and his commitment to social development. He has been involved in various community initiatives, supporting education, healthcare, and environmental conservation projects in The Gambia. Through his foundation, the Taf Africa Foundation, Njie has implemented programs that aim to improve the lives of disadvantaged communities and empower youth through education and vocational training.

    As a successful businessman and visionary leader, Mustapha Njie continues to play an active role in driving The Gambia’s economic progress. His entrepreneurial spirit, business acumen, and commitment to social responsibility have made him a respected figure in the business world, both within The Gambia and beyond.

    Another real estate developers redefining the face of housing is Andrew Lucky Elerewe, happened to be the Chairman of AIBEN Group a Nigeria-based Leading Real Estate Company, one of the largest African real estate network, with over 50 premier independent real estate firms, 1,100 offices and 80,000 associates producing about 80 billion in annual home sales in over 5 countries.

    Andrew was born in Ose, Ondo State and raised in the South western part of Nigeria, Andrew Lucky Elerewe lives with his wife, izehi Benedicta Elerewe a certified electrical electronics Engr, with many fellows affiliation. Together they have three children.

    He (Andrew Lucky Elerewe) graduated from Obafemi Awolowo University, Nigeria in 2002 with a first degree in Management and Accounting and MBA in Business Administration.Then started a professional career that saw him working in a media firm and real estate. Woods & Bricks Ltd helped him to develop passion for real estate businesses, with adequate experience in the field, Andrew, launched the AIBEN Group in 2021.

    Andrew Lucky Elerewe is passionate about the economic empowerment of citizens to advance development around the world. Energetically involved in the real estate finance and advocacy, Andrew is the Vice President, Real Estate Developers Association of Nigeria,(REDAN) and FormerChairman,FCT Chapter,RealEstate Developers AssociationofNigeria,(REDAN).

    He was named one of the top 10 thought leaders in 2021, as well as one of the top 5 most influential people in Nigeria real estate in 2022. Elerewe is a Member, Chartered Institute of Housing, UK and Member, National Association of Home Builders.He has served on the board of directors as vice president of REDAN. He has received Recognition of Excellence in Construction by Nigerian Society of Engineers, N.S.E., Honorary Doctorate Award by London Graduate School. He is also a Board Member, Gymnastic Federation of Nigeria.

    Andrew Lucky Elerewe has no shortage of experience: He has managed real estate and relocation organizations for the past 15 years.

    He has wide industry experience cutting across the civil service, public service and the private sectors of the Nigerian economy. Mr. Andrew Lucky Elerewe is the Group Managing Director/CEO of AIBEN Group, which has diverse interests in Real Estate, Hospitality, Retail, Energy,and Construction.

    AIBEN Group is headquartered in Abuja, Nigeria’s commerce capital and with its estates cutting across major states in Nigeria like Abuja, Ogun, Oyo, Nassarawa, Osun, Ekiti and lagos and has also spread into some Africa and European countries.

    His firm (AIBEN Investments) prides itself in the provision of affordable lands with flexible payment plans for its customers and an array of ready-to-live apartments and housing solutions with contemporary ultra-modern housing designs matching global standards all at very affordable prices.

  • 1,000 units of luxury homes coming in Mowe

    1,000 units of luxury homes coming in Mowe

    On the Lagos-Ibadan Expressway axis lies an estate illustrating serenity at its best.

    At the groundbreaking of Idera de estate, Managing Director, Rolad Properties and Allied  Services, Dotun Oloyede, said just as he had developed properties in Lekki and the United Kingdom, he choose MOWE to create serenity from the chaotic facade of the bustling town on the highway.

    On what his plans for the 24 hectares of land, he said the idea was to build a self-sufficient community  where residents would not need to go out of the estate for anything.

    On the  completion date, he said the 1,000 units would be ready in 18 months.

    The estate, he said, will consist of a green area, clinic, grocery store, a recreation centre and a school that would be managed by a reputable one.

    According to him, the medium income estate remains a direct solution to the 25 million housing gap nationally.

    Asked how the road infrastructure would be fixed, he said like in almost every where they have developed, they liaised with the community to build access and durable road.

     On the estate’s other values,  Oloyede said ozone depletion in the estate and surroundings would be minimal as a result of the type of materials that would be used and the generous greenery.

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    He said the company would be five years next year; and it would leave a signature input with the estate .

    On the house types, he said there would be 2,  3-bedroom apartments and terrace duplexes.

     He said his firm was out to cater for almost every housing need.

    Oloyede said: “ln the two bedroom region, we have Classic (carcass) at N9.5 million, Standard (finished without fitting) at N11.5 million, Executive (finished with fittings) N14.5 million and Premium (Smart Home) at N17.5 million.”

    On the 3-bedroom apartments, we have Classic (carcass) at N11.5 million, Standard (finished without fitting) at  N13 million, Executive (finished with fittings) at N15 million and Premium (Smart Home) at N19.5 million.

    The Head, Sales and Marketing, Roland Properties and Allied  Services, Oludotun Olaomi, said the company was committed to ensuring that people became land owners with ease; and whatever we promise is what we deliver, we even over deliver, he added.

    The firm’s Legal Adviser, Folarin Oloyede, affirmed that the land is not under acquisition as buyers will not only take possession but also given their titles.

    A real estate investor, Ademola Adeoye said he has been stuck with the company as a result of not only their resilience and strong drive but also their unwavering integrity.