Category: Property

  • APRN initiative ‘ll check building collapse, protect architects

    APRN initiative ‘ll check building collapse, protect architects

    By Okwy Iroegbu-Chikezie

     

    THE Architects Registration Council of Nigeria (ARCON)  has said its Architects Projects Registration Number (APRN) will tackle building collapse and save the jobs of its members.

    Its President, Mr. Dipo Ajayi at a briefing recalled a meeting executives of the council held with officials of the Lagos State Government on how to solve the problem of building collapse.

    Ajayi affirmed that the adoption of APRN  would, among others, reduce the menace of building collapse and protect architects in construction.

    During the briefing, he noted building failures in the public and private sectors, urging states to embrace the council’s APRN initiative.

    APRN, he explained, entails the  numbering of architectural projects  and that this would help the council to monitor projects across the country.

    He said: “We want to collaborate with state governments to ensure that APRN becomes operational in all the states in country.  And we have been creating awareness on this.

    ‘’According to the process, all architectural projects/drawings are prepared only by fully registered architects, submitted to ARCON and assigned the ARCON Project Registration Number (APRN) before submission for planning/implementation approvals.

    We go the whole hog to protect our professional practice and the lives of the public. No registered architect will trifle with his membership of the body by engaging in unwholesome activities or compromising his professional ethics.”

    Read Also: Dabiri-Erewa hails initiative

     

    Ajayi said APRN will also eliminate quackery and ensure that only registered architects/architectural firms prepare and submit designs for planning/implementation approval and receive such when they were ready.

    He said some of the building collapse were due to the non-involvement of professionals and poor designs; over-perpetual loading, adding that there must be re-engineering, rebuilding and re-planning of the entire Lagos Island space.

    Ajayi said this measure would complement the old practice of submitting building designs with a copy of the architect’s practice licence, the affixing of ARCON stamps, signed by the architect with ARCON’s seal on each sheet of the drawings submitted for approval.

    On why architects body insist on leadership of the seven professionals in the building sector, he said they do the drawings and understand what a particular client wants and that it is only natural for them to be in-charge of a project, especially since the clients  relate with architects first on any standard project.

    The Lagos State Commissioner for Physical Planning & Urban Development, Dr. Idris Okanla Salako, spoke of the preparedness of the government to collaborate with organisations and associations that would deliver service and complement the jobs of the ministry.

    He said the state was worried over the incessant collapse of buildings  and was working towards its eradication.

    Receiving the working document from Ajayi, he promised to study it and revert to the architect body on the way forward.

  • Covid-19 impacting realtors, housing

    Covid-19 impacting realtors, housing

    Business routines and lifestyles are changing with the COVID-19 scourge. Usually, realtors show houses to prospective clients and advertise courtesy of their ‘to sell or let’ adverts. But the pandemic has changed all that, writes OKWY IROEGBU- CHIKEZIE.

     

    The coronavirus(Covid-19) pandemic is affecting every sector, with property not exempted.

    In Nigeria, although everybody is being encouraged to work from home, the real estate business is different, not only for the various operators, but also that individuals want to see and feel what the environment is like before closing a deal.

    Earlier, deals could be discussed in high octane clubs over breakfast, lunch or dinner, but with the social distancing policy of the government, it has made business discussions difficult.

    For agents who take bikes to get houses or shops for their clients,  this is a period of low transactions, experts have observed.

    According to Principal Partner, Kola Akomolede & Co, Asiwaju Kola Akomolede, Covid-19 is affecting real estate agents. He said tenants who were due to leave by the end of last month would not do so while those who were supposed to move into houses they had probably paid for before would not nor would any valuer be able to inspect houses or sites.

    Construction workers are staying at home. This could delay scheduled jobs and in the long run affect housing supply.

    He said: “Building materials dealers and suppliers will not be able to open their shops and offices, with  its attendant consequences of delaying construction and eventually  laying off of workers in the sector.”

    He urged the government to contain the spread of the virus, urging those who have had contacts with affected people to go for test. He added that testing positive is not a death sentence. However, not knowing somebody’s status is dangerous not only to the person, but also to the public

    Immediate Publicity Secretary, Nigeria Institution of Estate Surveyors & Valuers (NIESV), Richard Olodu, said, quoting experts, that COVID-19 would affect the property market in particular and housing sector generally not only in Nigeria, but also other parts of the world.

    He noted that people in the western world were finding it difficult to pay their mortgage. He said: “Depending on its tenure, COVID-19 may have unprecedented effects on the property market. In the US, over 500,000 Americans lost out in the millionaire’s rank.

    In China, more than one milion companies claimed they may not declare profit this year due to the debilitating effect of the conoravirus.

    France President has asked tenants not to pay for three months. Businesses are folding up and global turnover is likely going to be quartered or below. The world is still counting.’’

    Fortuntely, Olodu said, the United Nations saw the pandemic as world- threatening with the World Bank earmarking some palliatives to support poor countries like Nigeria.

    He maintained that COVID-19  would affect the property market, adding that this was not the best time to buy property as nobody may could predict when the crash would be at its lowest ebb.

    Read Also: BREAKING: Makinde tests negative for COVID-19

     

    So, clients were already hoarding funds because they were not certain of what would happen and how long the crisis would last. Some tenants were not renewing their rents because of uncertainty about the future. Everyone is monitoring what would happen next, he stated.

    For estate surveyor and valuer, Sola Enitan, the pandemic has taken real estate to its knees; commercial real estate has taken a hit right now, he added.

    According to him, many executives were taking up rooms in their homes as offices. Some were buying office furniture ideal for home environment and re-kiting their home offices. In the coming months, the potential for home offices would increase, especially for those who are over 50 years, he added.

    He said: “People are clamouring for workstations and the need for smaller offices would ensue in the coming months. More people would find it convenient to work from theri virtual offices.

    Therefore, office rentals as virtual stations would thrive. More people are being forced to work online and that has been taken to a higher level by the government of Lagos State. Retail projects would continue to thrive, retail spaces would continue to thrive in the post-Covid-19 era.

    Markets redevelopment and shopping centre development would offer investors and developers succour in the coming months,” he added.

    Enitan further stated that retail spaces would continue to thrive in the post-Covid-19 era as markets redevelopment and shopping centre development would offer investors and developers succour in the coming months.

    He argued that the trend would likely take the industrial sector higher. According to him, manufacturers are likely to capitalise on greater investment requirements in the production of goods. The virus, he said, would  drive up industrial index as a cure is found for the disease, it’s post-pandemic management too would require space for specialist clinics.

    Healthcare needs will increase. Already, banks are looking for spaces to build centres of medical excellence, even stadia are being converted into hospitals. These are previews of trends to come, he added.

  • Group decries illegal property devt in Lekki

    Group decries illegal property devt in Lekki

    Our Reporter

     

    REAL estate investors in Lekki, Lagos State have decried the distortion of the master plan of the area.

    They noted that over the last few years, there had been encroachment and conversion of spaces.

    According to them, the violation of approved layouts and master plans has not been challenged by successive governments in the state.

    An architect, Dr Tony Alabi, told reporters that there had been  disregard for the masterplan of the area.

    He said: “Developers of high-end properties on government layouts operate with one set of building regulation rules under a discretional best-of-judgment aura and a myriad of privileges.

    “The developers of low-end properties in other areas of Lagos operate under another set of building regulation rules and best-of-judgement aura.”

    A real estate investor, who spoke on the condition of anonymity, said the Lekki Northern Business District parking facility meant for the general parking of over 20 business land investors in the Lekki masterplan, had been sold.

    According to him, there is no common parking facility in the area, which he described as a built-up community of block of flats.

    He said the investors who erected their buildings as planned in accordance with the master plan around the common parking space had nowhere to park their cars.

     

     

     

     

     

     

  • Seso Global expands

    Seso Global expands

    Our Reporter

     

    A UNITED Kingdom (UK)-based firm, Seso Global, has expanded its property platform to include rental and diaspora services.

    The platform enables users to find verified properties, access mortgage financing and connect to property service providers across the industry.

    To provide quality services, Seso has partnered Akin Olawore & Co, a  real estate brokerage and management company, to streamline rentals.

    Chief Executive Officer (CEO) Seso Global, Daniel Bloch, said: “With the Lagos population growing at a fast pace, we see rental units as being in great demand. We have also developed investment opportunities in some unique products.”

    Seso’s deal with BVER Hostels has provided an opportunity for investors to take advantage of the growth in student housing with opportunities to purchase on campus accommodation for rental.

    According to the Central Bank of Nigeria (CBN), the Nigerian diaspora sent over $17 billion in remittance last year and this is estimated to reach $26 billion, according to the Diaspora Commission.

    To capture some of the market and grow its share for the real estate industry, Seso Global has also launched access to a diaspora mortgaged product with FCMB UK allowing UK homeowners to take a mortgage under six per cent to purchase property in Nigeria.

    Seso Global entered the real estate space in 2018, utilising blockchain technology to unlock increased value in the industry. Its online marketplace is a leading real estate and property listing website with private, commercial property and houses in Nigeria for rent and for sale.

  • ‘Estate valuation contribution to devt dipping’

    ‘Estate valuation contribution to devt dipping’

     Okwy Iroegbu-Chikezie

     

    THE estate surveying and valuation profession should contribute to development, an expert has said.

    Speaking at an event organised by estate valuers in Lagos, Olusola Solomon Enitan said while major contributions had been made by the profession to the nation, there was the need to re-rig it for better performance.

    He said estate surveying and valuation is geared towards building a virile society where value is determined by the economic cost of business and social activities.

    He however regretted that in the last few years, the fortunes of  his colleagues had dwindled, a probelm, he said, led to the erosion of integrity.

    He said: “Opportunities for the professional expression are daily lost to charlatans and other non- professional entities. Outright limitations were placed in our way by public sectoral organisations who ought to be beneficiaries of our skills.The professional reputation dwindled immensely, job losses became almost a daily occurrence.”

    Enitan said large financial  organisations, which were their greatest patrons, have expressed  grave dissatisfaction with their  products,  adding that this has   negative impacted on their  remuneration.

    He, however, called for proper positioning of the profession and adherence to ethics, as a way out of the woods.

     

  • Brains and Hammers unveils 3400-unit housing estate

    Brains and Hammers unveils 3400-unit housing estate

    Okwy Iroegbu-Chikezie

     

    A LEADING player in the real  estate, Brains and Hammers Limited, has launched a private residential estate in the Federal Capital Territory (FCT).

    Built on a 107-hectare at the Life Camp Extension area, the estate comprises 3400 units.

    Known as the Brains and Hammers City, it is a spectacle to residents of Abuja who named it ‘A City Out of No Where.’

    Previously, the major landmark in that neighbourhood was Stella Maris College, but with the completion of 27 hectares, featuring 1,300 units with 700 delivered, the city has become the reference point.

    The estate opening coincided with the 10th anniversary of Brains and Hammers.

    The company’s  Chairman, Mr. Adebola Sheidu, said: “Residents are guaranteed round-the-clock security, electricity, help desk, CCTV monitoring, dedicated transformers, 7.2-kilometre access road,   independent water supply and water treatment facilities, recreational area, filling station, school and theme parks and shopping centres.

    ‘’We also opened up the district by constructing a dual carriage way of seven kilometres with solar street lights and three roundabouts leading to the estate.”

    He added:  “We have a dedicated unit for landscaping. The service charge is very minimal.We provided a gated community where your children can go out of their house, play with their neighbours, ride bicycles and engage in fun games. There is a club house, swimming pool and tennis court. The 24-hour service line is dedicated to reach facility managers with complaints on routine electrical, carpentry and plumbing services. House owners at the different Brains and Hammers estates enjoy the benefit of skilled resident artisans who respond quickly to fix technical problems.”

    Brains and Hammers portfolio consists of over 5000 residential homes across Nigeria and ongoing work in over 10,000. Its residential projects are in Lagos and Abuja. Those in Abuja include Life Camp, Galadima, Gwarimpa, Apo 1, Apo 11, Apo 111, Apo IV, and Apo V.

    In Lagos, they are in Ijora and  the Lekki corridor.

    Development of the 3400-unit Brains and Hammers City is the firm’s major project to date. It is expected to cater to mid and high level residents at affordable prices. The houses include; Mulberry (one-bedroom), Coventry (two-bedroom), Tudor (three-bedroom), Windsor (four-bedroom terrace), Ascot (four-bedroom semi-detached with boys quarter), Fourzton 93-bedroom), Broughton (two-bedroom), Kensignton (six-bedroom terrace) and Dorchester (six-bedroom detached).

    Sheidu said: “People who invest in our projects enjoy a massive return-on-investment of over 80 per cent within 18 months. There is hardly any business you can do that will guarantee that kind of return-on-investment. Now, a lot of people try to key into our projects early.”

    Shiedu continued: “We catch them fresh from schools; so we can indoctrinate them with our own ideology. I will rather work with them than to hire consultants. We have 10 young persons who have supervised over 200 buildings from scratch to finish. At every point, we have between three and five staff members in professional building schools around the world. We also pay serious attention to in-house training.”

  • Architecture: ‘HND graduates need more modules to be registered’

    Architecture: ‘HND graduates need more modules to be registered’

    Okwy Iroegbu-Chikezie

     

    THE President, Architects Registration Council of Nigeria (ARCON), Dipo Ajayi, has said the planned abolishment of the dichotomy between HND and BSc graduates may not apply to architects for now.

    He said HND Architecture graduates are excluded from registration as they did not possess the requisite skill and knowledge to practise the profession in its purest sense; as the limitation of years of study does not afford them the opportunity to complete the modules.

    He spoke on the sidelines of his 67th birthday celebration in Osborne Foreshore Estate, Ikoyi, Lagos at the weekend.

    He wondered why some find it difficult to improve themselves academically but are desirous of appellations they are not qualified for.

    He recalled that he started out as a draughtsman/carpenter before gaining admission to the university where it took him eight  years to qualify as an architect.

    Calling for middle cadre professionals, he said in countries, such as China, Canada, middle manpower make more money than certified architects.

    He said having weathered the storm between the Nigeria Institute of Architects (NIA) and ARCON on matters relating to examination malpractice and sanctioning erring architects, the body insists that only candidates with requisite professional training modules can be registered to practise and that HND architecture graduates do not have that.

    Ajayi said this measure was taken to ensure that architecture graduates were well-groomed in design and delivery to avoid being linked with unwholesome practices and conducts.

    According to him, ARCON is convinced more than ever that only the qualified are good enough to be registered as the profession plays a leading role in the building sector.

    He said: “To accommodate the HND graduates and take them through modules to get them qualified to be registered, we came up with a programme known as Architect Regularisation Programme (ARP) to allow them make up the modules to qualify to be registered.

    ‘’We have also made provisions for them to formally seek admission to any university of their choice as long they are approved by the Nigeria Universities Commission to offer architecture to upgrade and obtain the required knowledge.  Currently over 30 universities in the country offer architecture we advise that they take advantage of the various platforms the body has provided.  As a body we are of the opinion that the complexities involved in architecture are much more that can be learned in four years in a polytechnic.”

    On how he would reconcile the Federal Government’s annoucement on bridging the dichotomy between BSc and HND, Ajayi acknowledged the announcement but insisted that ARCON was not mandated to uphold it by registering those it believes, or by facts available, are not qualified to be addressed as architects.

    He said the body had approached the Ministry of Education and the National Universities Commission to tinker with modules of Architecture training in universities to bring them at par with present realities and also make them competitive with universities abroad.

  • Insurance covers Coronavirus as reinsurers move to stop it

    Insurance covers Coronavirus as reinsurers move to stop it

    By Omobola Tolu-Kusimo

    Coronavirus is covered under health and life insurance globally,Nigeria inclusive, The Nation has learnt.

    Although there are only two confirmed cases of coronavirus in the country, they are covered if they have health policies like for critical illness, group life insurance and any other life products.

    The ailment, which was never known or foreseen by insurers, is not excluded from any life or health insurance policies and may cause huge loss to insurance companies in the country, should there be a spread of the virus.

    Meanwhile, The Nation also learnt that reinsurance companies have written to Nigeria life insurance companies, asking them to exclude the disease from their products.

    But the operators who said they are looking into the letter by the reinsurers and would be holding meetings among themselves, said it would be difficult to exclude the disease until they have all agreed.

    The Managing Director, FBNInsurance Limited, Mr. Val Ojumah in an exclusive interview with The Nation affirmed that insurance covers the disease.

    He said but if the effect is of such that can cripple the insurance industry, there will be some measure that the Federal Government would be responsible for.

    He said: “Coronavirus is not an excluded illness in insurance cover so it is covered. But if the effect is of such that can cripple the insurance industry, there will be some measure that the Federal Government would be responsible for. However, since it has been declared by the United Nations as a pandemic, the Federal Government would have to take over should there be a spread.

    “The effect will be much on health insurers because the losses will be huge. For now, nobody is able to measure the effect but the reality is that if it escalates, the effect will be really bad”.

    The Director-General, Nigeria Insurers Association (NIA), Mrs. Yetunde Ilori, also in an interview added that the virus manifest same as other virile infections.

    “The only difference is that it cannot be cured by normal drugs. It is a new development that was not foreseen. But the kind of claims that can be made will be determined on what covers an individual has under his or her Health Management Organisation (HMO) for instance.”

    The Head of Life Department, Cornerstone Insurance Plc, Mrs. Muibat Jimoh disclosed that reinsurance companies has written to companies asking that they exclude the disease.

    “As at date Coronavirus is covered. But we received a letter from our reinsurer last week that we should exclude it from our cover so that it will no longer be covered under any insurance policy.

    “But we have a committee on life insurance under the NIA and we will be meeting on the development soon. But in the meantime, people are still covered. The United Nations has declared it as an epidermic and so reinsurance companies have excluded it.”

    When asked if insurance companies and HMOs in the country are ready should there be a spread, she said yes cautiously.

    “In the developed world, once the UN declares such as epidermic, their government takes over. But in Nigeria, there is not much involvement of government in insurance. But if it happens a lot here, it can collapse insurance companies. Insurance is not structured to cope with catastrophe,” she added.

     

  • Towards containing Covid-19 spread

    Towards containing Covid-19 spread

    Following confirmation of the second case of Coronavirus (Covid-19) in Nigeria, WaterAid, an international non-governmental organisation (NGO) with bias for water, is re-echoing the importance of handwashing with soap to prevent the spread of the virus and other diseases. Handwashing with soap and water can reduce the risk of people contracting infectious diseases like Coronavirus, a pandemic of international concern. OKWY IROEGBU- CHIKEZIE reports that many homes do not have handwashing facilities.

    National statistics put the population of those who lack access to handwashing facilities with soap and water at about 150 million.  Sadly, only five per cent of health facilities in the country has combined basic water, sanitation and hygiene services; with just 13 per cent of schools having basic water and sanitation services, the statistics said.

    Against this backdrop, large segments of the population, such as healthcare workers, babies, children, and public workers are at risk of contracting killer diseases,  such as Coronavirus.

    Recognised as the single most cost-effective do-it-yourself vaccine, handwashing with soap and water can reduce disease spread by nearly half. The World Health Organisation (WHO) 2019 public advisory recommends regular and thorough washing of hands with soap and water to protect oneself and others.

    On critical times for handwashing with soap, the advisory listed after toilet use, before preparing food, eating, and feeding someone, including  breastfeeding.

    Others are after handling money, touching animals, being out in public or sneezing and coughing. It noted that it is important for everyone to wash their hands at critical times to sustain good hygiene behaviours.

    Country Director, WaterAid Nigeria, Evelyn Mere, said: “We cannot over emphasise the crucial role handwashing with soap plays in preventing the spread of diseases and protecting oneself. Hands are carriers of germs and we often use them to touch a number of unclean surfaces and then back to touch our food, mouth, eyes, nose or body. Handwashing with soap and water can save lives and we can only achieve this by changing our behaviours and making handwashing facilities available in homes, schools, healthcare facilities and public places and ensuring we use these facilities to wash our hands with soap and water at all critical times.”

    Chief Executive, WaterAid United Kingdom (UK), Tim Wainwright, said: “Frequent handwashing with soap and water is one of the key components of controlling the spread of infectious diseases, including Covid-19. However, one in six healthcare facilities globally do not have soap and water available for doctors, nurses and patients to wash their hands, which can make disease prevention and delivering safe, quality care much more challenging.

    ‘’In addition, about two in five people in Sub-Saharan African also have nowhere to wash their hands with soap and water in their homes.”

    Furthermore, he stressed that  handwashing is one of the simplest and most effective disease prevention methods available, adding that it has been shown to reduce respiratory diseases by 20 per cent  and diarrhoea by 30 per cent and can help healthcare centres be better placed to support a response to an outbreak.

    According to him,  if everyone, everywhere had a place to wash their hands with soap and water as often as needed, it would go a long way towards helping to contain and prevent the spread of many diseases.

    Lagos State Commissioner for Environment & Water Resources, Tunji Bello, at a briefing on “Year 2020 Seasonal Rainfall Predictions and Prevention of Flooding in Lagos,” said  some major markets in Lagos risk being shut because of unhealthy practices.

    He said if the state must curtail and contain the spread of Coronavirus, residents must maintain the highest level of hygiene at home and in their business places.

    He regretted the state of some markets and hinted that the government would not fail to do the needful, if its warnings to the traders and their leaders to keep their environment fell on deaf ears.

    He listed the affected markets to  include Ladipo, Oshodi and Mushin, recalling that the government had shut some markets before for failing to keep to the environmental laws of the state.

    Bello said he had resolved to invite the  leaders of the markets and advise them on the need to collaborate with their Private Sector Participation (PSP) operators to cart away refuse as at when due.

    He warned that failure to desist from clogging the drains and channels with carcasses of motor vehicles and electronic parts in Ladipo Market and other wastes from markets in Oshodi, Mushin and other markets would not go unpunished.

    Bello said the relevant sections of the law would  be invoked to mete out adequate punishment for offenders to keep the rest of the people safe from Coronavirus.

    Bello said the Lagos State Waste Management Authority (LAWMA) has stepped up activities to clean drains and ensure the roads and drainages are free of wastes.

    He noted that the peculiarity of Lagos as a coastal state and its strategic position as the economic hub of the nation made it necessary for the government to unveil the information on this year’s rainfall prediction.

    He stressed that guided by core principles of providing a flood-free- and hygienic environment in the state, his ministry was set to provide all-year-round drainage maintenance for effective and efficient and liveable environment.

    Earlier, the government also advised Lagosians to wash their hands regularly with soap and water for at least 30 seconds, if possible use an alcohol-based hand sanitiser, maintain at least two metres (5 feet) distance from anyone coughing or sneezing repeatedly.

    The public was also advised to follow good respiratory hygiene.

    Others are to alternatively, use bent elbow when coughing or sneezing when no tissue is available. The public was also advised not to mingle with people or congregate, but instead stay at home, if one is feeling unwell with symptoms like fever, cough, sneezing, or difficulty in breathing.

    The Lagos Chamber of Commerce and Industry (LCCI) Director-General, Muda Yusuf, in a statement, said Coronavirus has affected the economy.

    According to him, it poses a major threat to Nigeria’s macroeconomic fundamentals, the impact of which may be systemic and far reaching.

    He said: “As at last week crude oil price has fallen to all time low of $45.27 per barrel, the lowest since 2017 as against the oil price budget benchmark for 2020 budget which stood at $57 per barrel. This sharp drop in revenue could cause significant dislocations in the 2020 budget and in the economy, especially for a country already grappling with challenges of weak revenue performance and a complete erosion of fiscal buffers. It is instructive that the Finance Minister is contemplating a review of the underlying assumptions of the 2020 budget, and rightly so”.

    According to him, there is also the revenue effect of the Coronavirus, which is related to the drop in oil price.  He added that the slump in oil price and the adverse expectations will put fresh pressures on the reserves, which  stand at an all-time low of $36.2 billion as at 3rd March 2020.

    On its implications, Yusuf said it has the capacity to weaken investor’s confidence, generation of speculative pressures on the currency; likely depreciation of the naira exchange rate; heightened inflationary pressures on the back of currency weakening. Others are likely increase production and operating costs for businesses and weakening of purchasing power with adverse implications for the welfare of the citizens.

    He regretted that many events and conferences had been cancelled as a result of the Coronavirus scare. For most of these events, huge sums and resources have been committed to the organisation, planning and logistics. These translate into huge loses to the promoters of these events, he added.

  • ‘Incentives will encourage development in housing

    ‘Incentives will encourage development in housing

    By Okwy Iroegbu-Chikezie

    Property developers have called on the Federal and state governments to provide the required incentives in the built environment to attract investors to the sector.

    Operators said access to land, tax rebates by government, among others, are vital instruments for attracting the private sector into the sector.

    They spoke during the unveiling of the Mews Estate, Katampe Extension in Abuja.

    The Mews, Katampe Extension, was developed by Eximia Realty Company Limited and Trio Nominees Limited.

    The Chairman, Trio Nominees Limited, Hakeem Ogunniran, also noted that investments in the sector would receive a boost when the government provided a conducive environment.

    On the features of the Mews Estate, Ogunniran, who is also and Chief Executive Officer, Eximia Realty Limited, said: “It is a very simple and affordable project. Our desire was to create something unique in Katampe Extension and you know they called this place diplomatic conclave. So, we tried to bring some of the features that we know, such as some simple designs, which value will speak to. It took us about two and half years to finish this project. We are happy because at a stage, all the happenings in the economy almost affected the project, but we were able to pull through.”

    The President, Real Estate Developers Association of Nigeria, Ugochukwu Chime, commended developers of the estate for being able to complete the project through partnerships.