OLOJA ESTATE:PURE GOLD FOR YOU TO MINE.

How will you like to diligently pay  20k  for a plot of land every month for 36 month which sums up to 720k only to be told that you can get 5 million for the same product if you wish to sell. Isn't that GOLD? What are you waiting for? Subscribe with us now and get a plot of Land to mine for gold.Its cheap, its affordable, it real. For more information please call: 08033979778.

JUMP ON THE BAND WAGON OF SUCCESS.

It is said that success is contagious, that is why at GOT Formation Limited we infect people we meet who allow us with success. By subscribing with our product you have aligned your progressive ladder that will take you to a pinnacle height.
It is imparative that you get involved and take advantage of the on going promo to get yourself a good plot of land @ Oloja Estate.Outright sales is N 525,000 per plot but we offer flexible payment plan that will enable you to pay as low as N 20,000 every month for a period of 36 months.Subscribe now before property appreciates.
For more information please call: 08033979778 or Visit:http://goo.gl/OEUzTn.Thank you.

OLOJA ESTATE;BEAUTY AT YOUR FEET.

Not quite long ago,Lekki/Ajah rose from the shadows of Ikoyi/Victoria Island's development. A plot of land in Lekki/Ajah now sells for minimum of 50 million naira from as low as N 500,000 couple of years ago.
By a similar trend,Epe is fast rising from the shadows of increasing development in Lekki/Ajah.Its is therefore your turn to  join the league of propertty owners in Lagos state while it is very much affordable as GOT Formation Limited offers you the opportuniy to be a part of Oloja Estate in Agbowa (Epe LGA). 
It is imparative that you get involved and take advantage of the on going promo to get yourself a good plot of land @ Oloja Estate.Outright sales is N 525,000 per plot but we offer flexible payment plan that will enable you to pay as low as N 20,000 every month for a period of 36 months.Subscribe now before property appreciates.
For more information please call: 08033979778 or Visit:http://goo.gl/OEUzTn.Thank you.

PERSISTING CEMENT PRICE HIKE:PROSPECTIVE HOME OWNERS LAMENT MISERY.

Despite the fact that Nigeria’s four major cement companies (Dangote Cement, Lafarge, Ashaka and CCNN) reported a 23 percent growth in full-year 2013 revenues to N522.5 billion, as growing economic activity fuelled demand for the building material. Prospective homeowners and property developers are lamenting about the hardship they presently face, as a result of the persisting rise in the cost of cement nationwide.

Investigations monitored by GOT Formation Limited reveal that, a 50kg bag of cement, now sells for between N1, 700 and N2, 100 as against N1, 650 and N1, 800, the prices for which it was sold in last quarter of 2013.

Further reports reveal that the persisting increase in the price of the product must have been as a result of high demand for cement and the inability of manufacturers to meet up with demand. Added to this is that dealers in cement have continued to take advantage of the increasing demand for the product to hike the price of cement.

Property developers have continued to bemoan the high cost of the product, which they claimed is affecting the cost of doing business in the construction industry.

Could developers not explore alternative methodology? my humble thoughts

Written by Ezenwa Francis, GOT Formation Limited.

3 STEPS TO NOTE BEFORE YOU SIGN A JV AGREEMENT.

Recently two multinationals announced they intend to launch a Real Estate joint venture. The companies, Prudent Financial Inc. of the United States and China’s Fosun Group said they were entering into a partnership aimed at expanding both companies and investing in development projects in urban centers in China. Closer to home is the recently announced Lafarge Wapco and LAPO microfinance bank 1billion Naira partnership to build affordable housing for 200 low income earning Nigerians. This type of Joint Ventures exist a lot in the Nigerian Real Estate market, where two industry players partner on building projects for profit. A successful Real Estate Joint Venture strategy is dependent on doing the right thing at the right time.

Joint Venture is an agreement between the landowner and the developer to undertake a real estate project. The Landowner here has the land but do not have the expertise and fund while the developer does not have the right land but have expertise and funds.

THERE ARE 3 TYPES OF JV:

1. Between Landowner and Developer

2. Between Landowner, developer and Funder

3. Between Landowner, developer and contractor

Although Joint Ventures represent a great way to pool capital and expertise and reduce the exposure of risk to all involved, they do present some unique challenges as well. I.e. if party A comes up with an idea that allows the Venture to flourish, what cut of the profits is party A entitled to? Does the party simply receive a cut based on the original investment pool or is there recognition of the party’s contribution above and beyond the initial stake? These are popular questions that arise in the cause of a Joint Venture. This is why a contract is crucial for avoiding trouble later; the parties must be specific about the intent of their joint venture as well as its limitations.

A joint venture can terminate at a time specified in the contract, upon the accomplishment of its purpose, upon the death of an active member, or if a court decides that serious disagreements between the members make its continuation impractical.

Upcoming developers commonly use Real Estate Joint Ventures. However notable developers such as UPDC and Megamound have also adopted this strategy. A Real Estate Development Joint Venture Agreement sets out what each party will contribute, both in money and effort, and sets out each party’s duties and obligations. It also sets out what happens if the parties fall out with each other, as well as covering the division of profits or losses.

Joint Ventures have been in existence since the early 1800’s but become popular in the 1980’s when companies where searching for new strategies and competitive advantages. We have highlighted key points to remember when going into a Real Estate Joint Venture and they are:

1. Step carefully, Choose wisely: This is not a race. Sophisticated Real Estate investing with or without financial backing is about long term wealth creation not short term riches. Pick what works for you and pursue what makes sense to your plan.
2. Follow a proven course of action and always test your strategies: The strategies you adopt will be your own, but the mistakes you avoid can be based on lessons learnt from others who have taken the same path. Make continuous improvement a business goal.
3. Be informed: It’s necessary to know the laws and practices of the Real Estate sector so you don’t run afoul of any one while entering the Joint Venture. Read journals and newspapers in a bid to have information on venture you are trying to enter; research on your partners to know their capabilities and where they would comfortably compliment your efforts.

 In the end, the Real Estate investment decisions, good or bad are your responsibility. You must understand and accept that mistakes are liable to happen; when they do, own them and move forward. Don’t blame others. When appropriate, give yourself credit for lessons learned, gain experience and make progress.

WHAT IT TAKES TO BE GREEN.

In recent news there has been the talk of Green Building springing up in Nigeria and most especially in Lagos. Identified so far under construction are; the Nestoil ultra-modern office headquarters being built by Julius Berger Nigeria at a cost of N24 billion which will be located on Akin Adesola Street, Victoria Island Lagos and projected completion time frame of 24 months and Heritage Place funded by private equity investment firm Actis at a cost of which isn’t explicitly known and constructed by Primrose Development Company (PDC) and Laurus Development Partners. These two projects represent the prime properties that seek to be classified as Green Building receiving LEED (Leadership in Energy and Environmental Design) certificate.  Of which Nestoil Towers claims to have achieved a Sliver LEED rating on its development.

The LEED certification is a process used in the United State which uses five rating systems to address multiple project types (Building Design and Construction, Interior Design and Construction, Building Operations and Maintenance, Neighborhood Development and Homes). In each of these categories, the project must attain certain prerequisites to earn points that then determines its LEED certification which are ranked as follows; 40-49 points gets you ‘certified’, 50-59 points ‘Silver’, 60-79 Points ‘Gold’ and 80+ gives you a whooping Platinum rating.

Moving on from the brief introduction of these projects and the process of getting a LEED certification, we need to understand what really is a green building? Green building from (Wikipedia) is one which may also be known as green construction or sustainable building refers to a structure and using process that is environmentally responsible and resource-efficient throughout a building’s life-cycle: from siting to design, construction, operation, maintenance, renovation, and demolition. It most importantly closes cooperation from the design team, the architects, the engineers, and the client at all project stages. Green Building must also provide the basics of all classic buildings such as economy, utility, durability and comfort.

SCHOOL BUILT ON WATER;WHAT A WAY TO TAKE EDUCATION TO THE LESS PRIVILEGED.

For generations, people have lived in the sprawling slum of Makoko on stilts above the lagoon that surrounds Nigeria’s largest city, Lagos. With the aim to bring much needed education to the children of Makoko, Nigerian architect Kunlé Adeyemi designed a school that floats on 256 recycled plastic barrels with support from the UN Development Fund. The three-storey, A-frame structure accommodates 100 children who travel to and from the school by boat. When classes are out, the lower platform is used as a community space: fishermen sit and mend their nets or take naps in the shade.

The floating school has been nominated as one of the 2014 Designs of the Year as part of the London Design Museum’s annual and prestigious Design of the Year Awards: the winners will be announced in June and Architect  Kunle Adeyemi would be representing Africa, as the only African nominee and the only project driven by and specifically delivering innovative African design solutions.

A model of the school has been put on display in the Designs of the Year 2014 Exhibition, which opened to the public on Wednesday 26 March and runs until Monday 25 August. Visitors to the exhibition will be allowed to pick their favorite design from the exhibition and new for 2014 is the Social Vote which will allow international supporters to cast their vote online.

This innovative design solution has created a futuristic fantasy of a water world of homes. Could this be a new way to go for Nigerian real estate?

Written by Temitope Longe

LAGOS 2014 BUDGET;INFRASTRUCTURE AND NIGERIA'S REAL ESTATE.

We are obviously not going to recover from the frenzy of Nigeria’s Mortgage Refinance Company, NMCR; at least not anytime soon. Since it was launched, no week has passed without an item of news, opinion, report, broadcast or sundry details about it– such is the faith our industry has in the scheme.

Experts such as Mr. Hakeem Ogunniran, Managing Director, UACN Property Development Company; Mr. Niyi Adeleye, Head of Real Estate Finance, Stanbic IBTC West Africa and others have however hinted that the NMRC, though a welcome development, is not a magic wand.

While their arguments are telescoped by the myriad of other challenges slowing down the industry, my concern has always been; giving the “mathematical wonder” expected of the scheme, where is the land? That is, even if all mortgage seekers receive mortgages at reasonable rates, where are the houses for them to buy? We all know the housing units in large supplies are not those targeted at the average Nigerian. Those targeted at them are not in the city centres, besides the fact that they are also in short supply.

Furthermore, everyone agrees that even the highbrow areas of states such as Lagos are overpriced for corporate and high income clients because of the scarcity of land. The implication is that except something is done about access to land, mortgages may truly be available, but the supply end of affordable homes for mid, mid-low market may remain unmatched. Thankfully, the NMRC is forward-looking enough in this regards, but the impact might not be felt sooner than expected.

1KM TALL KINGDOM TOWER PLANS TO BECOME THE WORLD'S TALLEST BUILDING.

Dubai, Saudi Arabia plans to fetter long champion of all things biggest, longest and most expensive, will soon have some competition from neighbouring Saudi Arabia.

Dubai’s iconic Burj Khalifa, the world’s tallest building, could be stripped of its Guinness title if Saudi Arabia succeeds in its plans to construct the even larger Kingdom Tower in Jeddah — a prospect looking more likely as work begins next week, according toConstruction Weekly.

TOP 10 INTERNATIONAL EMEA REAL ESTATE EVENTS.

 Many people skip attending industry events unless they are required to. They usually underestimate the importance of these kinds of events. They find excuses such as busy schedule, expensive tickets etc . Participating at industry events is not just engaging but educating. It is an opportunity to meet most influential names in your industry. We have put together top real estate events in Europe, the  Middle East and Africa (EMEA).

Investor confidence in Europe is up sharply this year, with over 70% of investors choosing Western Europe as the most attractive global region for investment purchases. Within Europe, the UK has regained its position as the most popular country for investment this year with a fall in the proportion favouring Germany, last year’s first choice. However, the past two years have seen a sharp rise in interest in commercial real estate opportunities in African cities.  International capital is beginning to focus on Africa’s real estate potential, and developers are now responding to the strong demand for modern shopping malls, offices and hotels. Within Africa, Nigeria has recently emerged as largest economy making Sub-sahara Africa an investment haven. See our annual events picks.

1.    MIPIM – The World’s Property Market: March 11-14, 2014 | Cannes, France

6TH GLOBAL HOUSING FINANCE CONFERENCE.

DIGITAL INNOVATION IN ESTATE AGENCY AND PROPERTY MANAGEMENT.

Technology and the internet in particular have revolutionized the way we do things. It’s a digital world we live in and there are software applications for just about anything. Lately I scanned and emailed a tranche of my personal documents right from my phone. It is amazing how a phone now does everything a typical 'business centre' can boast of. No wonder this is not the best of time for cyber cafes and business centres.

Herein, we are going to chronicle some software applications that will enhance your real estate or property management business. If you are still analogue, running your Real Estate Agency or Property Management business manually, then it is high time you embraced innovation.  This is not necessarily an endorsement but an attempt to make your work easier and more efficient. Now here is a rundown of Real Estate, Property Management software and companies selling them:

ENVIRONMENTAL REGULATION IN NIGERIA

In relation to its laws or guidelines to protect the environment, Nigeria has a fundamental conflict between agencies of the State.

The Federal Environmental Protection Agency Act 1988 (FEPA), backed up by the Environmental Impact Assessment Act 1992 provides the basic rules administered by the Ministry of the Environment.

However, the environmental guidelines dealing specifically with the oil industry, notably the Environmental Guidelines and Standards for the Petroleum Industry in Nigeria (EGASPIN) is a product of the DPR and thus the Ministry of the Petroleum.

A CASE FOR THE HOMELESS.

It seems like homelessness is on the rise all over the world. This is a situation common in third world countries even though such has been noticed  in some economic powers of this world. The individuals are found to be drunks,prostitutes,crack-heads and generally low lives. But recently members of the family of the very rich have appeared in the news as homeless and I wonder if homelessness have crept into lives of those up there.

Typical example are the two present cases in the USA.The picture on the left is the brother of famous Beyounce while the woman on the right is the step mother of the widely celebrated TV Icon Winfery Oprah.

Having had the public contribute to give Beyouce's brother a decent shelter shall we also contribute for Winfery's step Mum? I tireoooooo........

RANA PLAZA SURVIVORS FACE CONTINUED SUFFERING.

Dhaka, Bangladesh - In April 2013, more than 1,100 garment workers in Bangladesh were killed  when the factory they were working in collapsed. One year after the deadliest garment factory accident in history, most survivors and family members of those killed face serious economic hardship, according to a survey published this week. ActionAid, an international non-government organisation, interviewed 1,436 survivors and 786 family members of deceased workers, and found that two-thirds of respondents face significant difficulties buying food, paying rent and making loan payments. Almost three in four Rana Plaza survivors have not been able to work due to physical ailments and trauma. Seventy-six percent of them continue to visit doctors for follow-up treatment, and nine percent said their physical condition continues to deteriorate. Four percent of the respondents are not able to meet their daily needs, the report found, and others have been driven into debt. Thirty-two-year-old Mohammad Milon was one of those working at Rana Plaza when the structurally unsound building collapsed. He injured his back and spine in the accident, and now cannot walk for more than 10 minutes. As a result, his wife Ambia Begum has become the sole breadwinner for the family, which includes a 13-year-old daughter and two-year-old son. Begum, herself an operator at an apparel factory for the past 15 years, earns a fixed monthly salary of 6,200 takas ($80), in addition to as much as 4,000 takas ($52) in overtime pay. She said this sum is not enough for her family, which lives in a tin-shed room in Savar, on the outskirts of Dhaka. ea

WHEN WILL HOUSES STOP COLLAPSING?

A two-storey building under construction  at Oworonsoki, a suburb in Lagos state collapsed yesterday April 24th leaving 4 children and 6 adults with various degrees of injury. Reports say the children were on the site to help with menial jobs when the building gave way. 
The 10 victims were immediately rushed to the General Hospital Gbagada where they're all receiving treatment.
The question is,when will regulatory bodies start doing their work in order to avert such deadly events?

AVOIDING BEING SCAMMED IN REAL ESTATE.

The Real Estate industry in Nigeria is fraught with various issues or cases of people being duped either by estate agents, con artists and the so called omo-oniles. With the demand for accommodation more than supply, it’s no wonder that some people can be easy targets since they are in desperate need of the properties at the time.

Another reason people get scammed is when an opportunity is too good to pass up. With the high level of fraud committed within the industry, it is imperative that you protect yourself from being a victim. These various scams can be avoided by working with a reputable real estate agent, company or developer.

Some of the common real estate scams perpetuated by omo-oniles is the sale of lands inherited from their parents or grand-parents to more than one person. Since their only source of income is the sale of these inherited lands, their usual style is to prey on lands that have been sold but not yet developed to another buyer. Sometimes, they even sell lands that have been developed half-way to buyers just to keep the income flowing and these buyers find themselves in a continuous battle for possession of the land. A lot of land cases presently in court are in this category and unfortunately, the omo-oniles are nowhere to be found with the monies collected.

IKEJA AT A GLANCE.

In this series, we shall be chronicling different parts of Lagos State vis-a-vis what makes them tick, cost of accommodation, commercial activities and so on and so forth.

Where else can we begin this series than from Ikeja - the Lagos State Capital/Seat of Government. Ikeja is part of what is known as Lagos Mainland. As well as been the State Capital, Ikeja is also a Local Government Headquarter. Official census figure put the population of Ikeja at about 4.5 million people which is keenly contested by the Lagos State Government. However, A United Nation's 2011 data suggests Ikeja is plausibly home to 11.2 million people. Ikeja is one of the most densely populated parts of Lagos State.

A bit of history before we proceed. Ikeja is said to have been founded and named after an Awori hunter called Akeja Onigorun. Notable communities in Ikeja include Ogba, Opebi, Alausa, Maryland, Anifowose, Agidingbi, Oregun, Idu-Iroko, Ipodo, Akiode and Ojodu.

WHY YOU SHOULD DISTRIBUTE YOUR PROPERTY BEFORE YOU DIE.

For those that are aged and rich. How do you secure your investment before you depart from this world?Death is an inevitable phenomenon,thus, it may be wise to prepare for it. This is especially so if a person has any property, landed or otherwise, that could become a source of disputes between families after their death. This underscores the desirability of making a will. A will is a document by which a person directs how his or her estate is to be distributed upon death. What could happen if there is no will? We all know what happened in Bobby Bensons family.
What do you think?

PROCESS YOUR BUILDING PLAN APPROVAL AND C OF O AT HUGE DISCOUNT.

You no be correct Landlord if you no get correct particulars for your building. Ogun state home owners charter ....an opportunity to process your C of O at a huge discount.
If you own a house in Ogun state, you are eligible for this scheme,just follow the steps below:

1. Visit Ogun state home owners' charter registration centre or designated banks to purchase your form for N 5,000 only.
2. You will be issued an invoice upon inspection of your house.
3. Make payment on your invoice within 9 months to benefit from a simple secure and faster way to process the document of your house.

No penalties. Simple requirements. Its once in a life time opportunity! Hurry now while offer lasts!

...an initiative of Ogun state government's mission to Rebuild.

WHAT DOES IT TAKE TO OWN PART OF THE MOST FAMOUS HIGH RISE IN THE WORLD?

I live in Burj Khalifa ( Ha ha for my mind,tall dream). But seriously, if the world's tallest tower is your address, you really do not need to give street number,town or even country.
Now what if you live in the best Estate in the world do you still need to tell people where to find it? At OLOJA Estate our dreams are as tall as Burj Khalifa. Subscribe today and position yourself to be part of the wonders of this world in Real Estate.For more information please call 08033979778. 

SHOPS VS RESIDENTIALS BUILDINGS.

Our survey of available shops for sale and the going rents for such properties shows that buying shops will give you a better return for your money than investing in residential properties.
I don't think this applies in all situation but what's your take on this?

OLOJA PHANTOM.

To be a millionaire think like a millionaire. To be a Land Lord think Oloja Estate, your best bet in living your dreams. For more information please call 08033979778.

TIPS ON PROPERTY TRANSACTION WITH AGENTS.

1. Verify the property, visit it physically at least twice. Apart from inspection with agent, make enquiries from neighbour/other tenants.
2. Verify the Estate Agent you are dealing with. Visit the office unannounced, check with other agents or at least find out where the Agent resides.
3. Avoid payment in cash.Payment through the bank is generally safer and usually avoided by fraudulent persons. Always issue a cross cheque when closing a property deal.
4. Subscribe with Real Estate company like ours GOT Formation Limited to get you good deals so that you are not scammed by dubious Agents. Like presently we are offering land at our own estate named Oloja Estate. Get y calling 08033979778

HOW TO MAKE SERIOUS INVESTMENT IN 2014.

Lets talk about money.Lets say you buy a plot of land in Oloja Estate in Epe for N 525,000 only. Five years after you want to sell how much do you think it will go for? This is what Real Estate guys do. You too can do the. For more information visit our website:http://goo.gl/OEUzTn or call: 08033979778.

JUMP ON THE BAND WAGON OF SUCCESS STORY @ OLOJA PLATFORM.

Its time to take that leap to the next level by investing big time in real estate. Got Formation Limited is offering you the opportunity to live your dream. Subscribe today and get our land @ Oloja Estate for just N 525,000 per plot out rightly or pay as low as N 20,000 per month for 36 months and get yours. Hurry now! Offer last while stock last.For more info contact:Francis on 08033979778 or visit: http://goo.gl/OEUzTn

FREE MONTHLY REAL ESTATE SEMINAR.

What are the 3 Ms of success?
Attend and find out...

Don't miss this special seminar hosted by renowned Estate Guru Debo Adejana.

Date:Sat 19th of April 2014
Venue: Realty Point Ltd, 3rd floor Onigbagbo House.
Beside Bola Memorial Anglican Church,
29,Mobolaji Bank Anthony way,By Abule Bust Sop,Ikeja,Lagos.
Time: 12noon
Dont be left out!

NIGERIAN FEDERAL GOVERNMENT PROMISES 10,000 HOUSING PROJECTS.

The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, unfolded the Federal Government’s plan to collaborate with other stakeholders in the housing sector to deliver about 10,000 housing units this year. The minister announced this at the inaugural Housing Stakeholders’ Implementation Summit in Abuja which held on March 23, 2014, where she also defended the government’s position that 1.6 million jobs were created in 2013 alone.

Her communique pointed out that an effective housing sector was imbued with important multiplier effects. The listed multiplier effects include; the creation of mass employment in the construction and building industries as well as increased employment in other related industries.

DANGOTE ONCE SAID, 'ONLY LAZY INVESTORS WAIT FOR DEVELOPMENT BEFORE THEY INVEST'.

I can remember a story my uncle told me about Lagos Island back then. A friend introduce a land property to him back then in Lekki and he asked him how can you advise me to buy “water”? The land there was filled with water , but his friend invested any way for cheap amount and now he earn millions of naira on the property he built on the plot of land. A good investor doesn’t wait for a community to develop before investing their money.When you wait it involves more money and loss of opportunities to plan for the future or better still lead to life of regrets. We all can remember at point in time, some part of Lagos state were once  bushes or water. I will take Egbeda for example, I don’t think there is any vacant land in Egbeda any more for you to build except you have to buy a building and demolish the building before you build your structure and that will cost you more . Dangote will always make more money because he is a good investor ,he has 1000 acres of land in Ikorodu now and he intends to build another factory there. He bought it for cheap  because he foresaw  future  development. 
GOT Formation Limited, owners of OLOJA ESTATE in Agbowa Epe is developing the OLOJA Estate and the land goes for as low as N 525,000 outright or N 720,000 on instalment.Its cheap now, it could run into millions in the future take advantage nowoooo!
For more details pls call:08033979778 or visit: http://goo.gl/OEUzTn.

CARIFOS TO KICK START LAGOS' MODO HEIGHT HOUSING PROJECT.

After sorting out all issues surrounding one of the outstanding but upcoming housing projects in Lagos State, the coast is now clear for the take off of the development, as indication emerged last week that the developer may soon move its contractors to site to deliver  ‘Modo Heights’ estate.

The developer, Carifos Nigeria Limited, had some months ago struck a partnership deal with both the Lagos State Government and Agboyi/Ketu Local Council Development Area (LCDA) to further increase the housing stocks, by building highrise structures, to be sited within the neighborhood of Ajelogo-Akanimodo, Mile 12, along Ikorodu road. It is coming under a Public Private Partnership (PPP) arrangement.

LAGOS AWARDS EPE MARINA RECREATIONAL SCHEME CONTRACT TO LOPEC ENGINEERING AND CONSTRUCTION COMPANY.

In a novel move to resuscitate its declining infrastructural fortunes, the Lagos State Government has mooted a scheme that will transform the Epe Marina Waterside faced with increasing squatter settlements.

The scheme, which is coming as a brainchild of the Lagos State Ministry of Works and Infrastructure is designed to provide recreational opportunities, boost tourism potential of the Epe Lagoon that stretches for more than 25 kilometres eastward from Ejinrin, among others.

Already, the contract for the Marina Waterside project has been awarded to Lopec Engineering and Construction Company. The location for the proposed Marina waterside was the place where King Kosoko berthed when he came to Epe in 1851, after running away from the colonial masters in Lagos Island.

THINK BIG BUILD BIG @ OLOJA ESTATE.

Its time to take that leap to the next level by investing big time in Real Estate. Got Formation Limited is offering you the opportunity to live your dream. Subscribe today and get our land for just N 525,000 per plot out rightly or pay as low as N 20,000 per month for 36 months and get yours. Hurry now! Offer last while stock last.
For more info contact:Francis on 08033979778 or visit: http://goo.gl/OEUzTn

CBN CLAMP DOWN ON 25 MORTGAGE BANKS;REVOKES THEIR LICENCES.

Apparently bowing to the unrelenting clamour for the reform of the critical aspects of the nation’s mortgage system, the apex supervisory authority, Central Bank of Nigeria (CBN) may have began a clampdown on Primary Mortgage Banks (PMBs) that ceased to carry mortgage business for which they were licensed.

The development is on the heels of new regulatory guidelines for PMBs aimed at recapitalising and repositioning them as specialized banks through the Other Financial Institutions Supervision Department (OFID) of the CBN. Under the new capital requirement, state and national PMBs will shore up their shareholders fund to the tune of N2.5 billion and N5 billion respectively, with compliance date fixed as April 2013.

DO NOT BE CAUGHT IN HESITATION.

Footballers  call it 'ball watching', Lagosians say it is 'Lagos lookers' or 'Lukmon'. Anyway don't be caught mopping while others are living their dreams in Lagos.Grab this opportunity now by becoming a Land Lord in Lagos just by paying N 20,000 every month for the next 36 months. You can also make outright payment of N 525,000. Don't let this golden chance pass you by.For more info please call:08033979778 or visit:http://goo.gl/OEUzTn

FEC APPROVES $300 MILLION FOR SOCIAL HOUSING SCHEME.

There is some cheery news for prospective home/house owners in Nigeria. Nigeria’s Federal Executive Council recently approved the request of the Minister of Finance, Dr. Ngozi Okonjo-Iweala, to secure a $300 million loan from the International Development Association Housing Projects in Nigeria. Housing demand exceeds its supply and this has a multiplier-effect on rents. It is estimated that Nigeria needs more than 700,000 housing units annually as against the current 100,000 units available.

The main objective of the Nigeria Housing Finance Project is to increase access to housing finance by deepening the primary and secondary mortgage markets in Nigeria. Sequel to this development, people who up to now could not provide adequate collateral to access loans will not experience much difficulty in securing loans to enable them own homes/houses through a mortgage.

Investors be on high alert.....LOL

EXORBITANT RENT CHASES WAL-MART,WOOLWORTH OUT OF NIGERIA.

There was so much excitement in the air several months ago when news filtered in that renowned global brands such as Wal-Mart, Woolworth et al were coming into Nigeria to do business.

However it appears the duo of Wal-Mart and Woolworth are struggling to thrive in the profitable but shark infested business climate in Nigeria. There are strong indications that the aforementioned retail chains are set to pull out of Nigeria due to what they called ‘unfavorable business climate’. They particularly cited ‘high rent, low power supply, delay in clearing goods at the Ports, corruption’ amongst others as some of the factors militating against doing business in Nigeria. Despite inherent challenges and risks, businesses are still flourishing in Nigeria and declaring enormous profits year in year out. One is beginning to wonder if these guys did their research, due diligence very well before ‘porting’ to Nigeria?

LAGOS STATE FINALIZES PLAN TO MOVE IKEJA COMPUTER VILLAGE.

If feelers from the Lagos State Government is anything to go by, the state is finally poised to relocate the ever popular Ikeja Computer Village to a new site, Katangowa Internet City, somewhere around Katangowa Market in Agbado, Oke-Odo area of Lagos State (Along the Abeokuta-Lagos expressway).

This proposal has been in the works for a while now but the the die is cast this time around. The Lagos State Commissioner of Science and Technology, Mr Adebiyi Mabadeje dropped this hint a while ago when he opined that the State had budgeted about five hundred million towards the relocation project and that this amount is enshrined in the 2014 budget of the Lagos State government. The Commissioner believes this project will be carried out within the first quarter of 2014.

OUR OFFER IS RUNNING OUT.

Take advantage of this great and wonderful opportunity to buy your own land at Oloja Estate and have the change of paying as low as 20,000 naira for it monthly.For more info pls call 08033979778.

HOUSE OF SUPER RICH DAVIDO.

Although he (Davido) is also referred to as Omo Baba Olowo (son of a rich man), buying a house worth N140m sure earns him the name olowo (rich man). At age 20, the music star acquired a property in Lekki Phase1. The house is close to where his father also has a house in Lekki. Much of his income comes from his music and endorsements. He is currently a brand ambassador for MTN.

These guys are doing well for themselves what do you think.

8 STEPS TO SUCCESSFULLY INVEST IN REAL ESTATE SECTOR IN NIGERIA.

They say if something is expensive but worth it, you will find a way to get it. And property in regard to land and buildings is one thing that is worth your investment in the long term.

By 2011, only 37% of Nigerians were house owners. This gap can be bridged by providing relevant and timely information to potential investors and to the general public. Additionally, there is a need to break down the barriers to investing in the sector by simplifying the process. That said, consider these 8 steps as you go about putting your hard earned money in the property market.

1. Research

THE DIFFERENCE BETWEEN MINI FLAT AND SELF CONTAIN EXPLAINED.

There seem to be some misunderstanding as to what precisely a "self-contained" apartment and a "mini flat" is. The purpose of this essay is to clarify the ambiguity surrounding the aforementioned notions.

Self Contained Flats

Simply put, a "self-contained” apartment or room is a single room that has all the facilities such as toilet, bathroom and most probably a kitchen end suite. That is to say that the room is 'independent' in and of itself. It appears the term self-contained is commonly used in Nigeria whereas in other climes such as in Europe and America, it is commonly called a "studio flat" or a "self-catering" flat. Another way of describing a self-contained Apartment is to liken it to an "all-purpose" room. This type of apartment is mostly popular amongst people who abhor sharing facilities with other tenants hence the idea is to have everything they need within the confines of their abode.

GETTING FINANCE FOR REAL ESTATE BUSINESS.

This article will be helpful to you if you are considering getting finance for your real estate business.I know a lot of people say real estate business requires a lot of money, while that is true somewhat, I am about to show you some of the ways you can raise the financing required to actualize your real estate business.All businesses are set up for one of two reasons or both; making profits and growing the business and real estate business is not an exception.

Without money or with the shortage of money, businesses, real estate business inclusive, will be threatened.If any business will stand the test of and gain clients as is the goal of all global real estate businesses without folding up, getting finance will be required at some points time in the life of the business.It is therefore an advantage to know how and where real estate businesses can get possible financial backups.I will be dealing with where the funding can come from in this article and leave the job of “how” till some other time.Getting finance for your real estate business can be very easy and smooth to go by, depending on the possible channels available and the conditions stringed to them.There are several processes that guarantee financing a real estate business and the possible sources of such grants. Your real estate business can be financed from some of the following;

LAGOS STATE GOVERNMENT TACKLE QUACKERY IN REAL ESTATE THROUGH LASRETRAD.

The era of real estate agents ripping off intending tenants will soon be over following the establishment of the Lagos State Real Agency Transaction Department (LASRETRAD) to tackle the housing challenge in the state and regulate the practice of estate agency.The department, which is under the Ministry of Housing, is expected to address issues such as treating tenants and landlords in a fair, responsible and reasonable manner.