SEPTEMBER-REAL ESTATE NEWS SUMMARY

SEPTEMBER – REAL ESTATE NEWS SUMMARY

Vanguard Newspaper 5th September Headline: Lagos, Most Expensive Place to Build in Africa — Stakeholders  The director, Turner & Townsend, Austria, Bruce Haswell stated that Lagos is the most expensive place to build in Africa compared to Kampala with an estimate of $2,056 per m2. This statement was made during his keynote presentation titled “Key signals in 2022 at the Real Estate Discussions and Awards,…

EKITI NIS AGM

The Place of Annual General Meetings(AGM) and Conferences in The Life of a Surveyor

Over the years, the internet has virtually changed the way we interact and do our business. It has opened up tremendous ways we can dig up information and meet new business partners, but one of the things it can never replace is the value and place of face-to-face interaction. While it is important to note that the internet makes connecting with people easier, some or…

BARE LAND

Land Use Act in Nigeria and Its Implication for Real Estate Investors

The land use act is one of the most important laws that every land owner and real estate investor should know about especially in fast-developing cities like Lagos. In Nigeria, the land use act clearly gives the right to every person to acquire and own property anywhere in the country. However, that right is not absolute as it is subject to certain conditions like Eminent…

Drone Survey Abule Oshun

DRONE SURVEY: THE NEW SWISS ARMY KNIFE FOR SURVEYORS

It is no longer news that technological advancement is fast changing the face of the world, with every sector gladly embracing this change. With the recent development in drone technology, the mapping and surveying sector is also going through a revolution. This technology has unfolded new methods for surveying which has indeed created tremendous efficiencies for surveyors. It has also challenged surveyors to rise to…

JUNE – REAL ESTATE NEWS SUMMARY

TRIBUNE NEWSPAPER (1ST JUNE 2022) Headline: Nigerians Urged to Invest in UK Real Estate as Insurance Against Global Inflation  A United Kingdom (UK) property investment firm, Baron and Cabot, advised Nigerians to invest in UK real estate as it is a safe investment plan right now in the face of global inflation and guarantees higher returns against inflation. Mark Pearson the firm’s managing director, made…

Boundary Survey at Okun Ajah

GOVERNORS CONSENT VERIFICATION

Any property that does not have a title in Eti-Osa and Ibeju-Lekki axis is technically under government acquisition. It is for this reason that you will find out that most property developers always insist on buying land that has an existing title. If the existing title is a gazetter or C of O, they then go ahead to process and obtain a Governor’s Consent title…

Real Estate News Summary

REAL ESTATE NEWS SUMMARY

Vanguard Newspaper on May 1st, 2022 Headline: Epe Fast Becoming Dubai of Nigeria Mr. Bayo Lawal, the co-founder, and head of Strategy & Growth, Dukiya Investment, during the one-year dinner celebration of the firm, described Epe as an untapped environment. He further stated that the place is gradually turning out to be the Dubai of Nigeria because of the escalating level of development going on…

Real Estate News Summary

REAL ESTATE NEWS SUMMARY FOR THE WEEK

Guardian Newspaper, April 18th, 2022. HEADLINE: Surveyors Urge Housing Professionals to Embrace Digitization The president of the Commonwealth Association of Surveying and Land Economy (CASLE), Segun Ajanlekoko, during a seminar of the board of registration of architects and quantity surveyors in Kenya, admonished quantity surveyors, architects, and other professionals in the construction industry to embrace digitalization in their business for more productivity. According to him,…

Boundary Reestablishment

PROPERTY BOUNDARY REESTABLISHMENT AND YOUR SURVEY PLAN

A survey plan has many uses but one very important but often overlooked one is boundary reestablishment. Boundary reestablishment is the process used by surveyors to reestablish a property boundary that has been destroyed or forgotten. A boundary can be destroyed through natural and man-made events. However, boundaries destroyed by natural events are quite rare in Lagos because natural disasters are not common. Boundary reestablishments…

SURVEY PLAN SHOULD COME BEFORE DEED

THE SURVEY PLAN SHOULD COME BEFORE THE DEED

From the point of acquiring land to constructing your building and obtaining title from the government, a property owner will interface with different professionals. These professionals play different important roles in the real estate industry. However, the order in which they come into a real estate project matters. We recently did a survey for our client. When we finished processing the measurements we realized that…