Real Estate

African cities are ignoring demand for middle-class housing - report

The continued market activity in major African cities to deliver residential developments within the luxury and deluxe category has created a huge gap between the demand and supply for low-income earners, a report by Estate Intel has stated. The report titled ‘Residential developers dominating Africa’s major cities’ indicated that the demand for affordable and inclusive housing schemes…
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Real Estate

FCMB, firms partner on housing loans

First City Monument Bank says it has partnered with real estate firms, Brains & Hammers Limited and Brooks Assets & Resources Limited, to provide affordable housing for salary earners and self-employed residents in Lagos State. A statement by the bank said the…
Real Estate

US system, bank invests $274 million in affordable housing

The United State Government’s Prosper Africa initiative has announced the close of $274min long-term financing for the housing sector in Nigeria and other West African countries. TO achieve this goal, Prosper Africa is partnering with Bank of America Securities Inc, Brean…
Real Estate

Smart homes cannot solve the problem of housing shortage.

Smart buildings cannot bring down the high cost of houses which has created a huge housing gap in the country, operators in the built industry have stated. In an exclusive interview with The PUNCH, a structural engineer, Olatunbosun Adaramola, said smart buildings have to do with technology, making the home more conducive to live in, but come with a huge cost. He said, “These smart features are…
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Real Estate

Citizens looking for affordable housing

Stakeholders in the built industry have advocated the development of measures that make affordable housing for low and middle-income earners a reality in the country. The Executive Director of the Housing Development Advocacy Network, Festus Adebayo, said housing was…