Rullion's Blog

Skye Shelter Fund (SSF) half year profit rose by 6 percent as the Nigerian real estate operator continues to unrelentingly seek newer opportunities in a country hit by housing deficits. For the first six months of the year, the company’s revenue rose by 7 percent to N90.24 billion from N84.23 billion in the same period of the corresponding year HY 2013. Profit after tax PAT increased by 6 percent to N66.95 billion compared to N63.10 billion as at HY 2013. This improved performance coincided with a surge in the real estate and mutual fund industry.

Interview prep is tricky not because you don't know what to do to get ready, but because you know too much about what you could do. Before you get bogged down in endless practice interview questions, make sure you have these things checked off your pre-interview to-do list. 1. Research the company.

In spite of the huge opportunities in the parking space business in Lagos— Nigeria’s commercial nerve centre—investors still find that segment of economic activities unattractive and unprofitable for investment. As a commercial and large industrial city, Lagos does not have standard and well developed parking lots where car owners could leave their cars and collect same for a fee at the end of the day’s business. The situation is such that even Lagos Island which is the city’s central business district (CBD) is lacking in a standard parking space and, according to authorities of the state, plans by the government to develop malls, leisure parks and other recreational facilities as part of the Lagos Island redevelopment master plan presents immense opportunities for private sector investment in that part of the city.

The Federal government this afternoon commenced the rollout of the first phase of a 10,000 mortgage scheme,  Affordable Homes Programme . The programme is being implemented by the Federal Ministry of Finance in collaboration with the Federal Ministry of Lands, Housing and Urban Development and the  Nigeria Mortgage Refinance Company .

When faced with a decision,  we generally consider  only  the most obvious and visible information, a ccording to Chip and Dan Heath, authors of " Decisive: How To Make Better Choices in Life and Work ." However, that's rarely all we need to make a good decision, because we end up missing important facts outside of our immediate view. In their book, the Heath brothers share the "four villains of decision making," which often mislead us in our choices: Narrow framing  causes you to f ocus so much on your  immediate choices that you miss other options.  Confirmation bias  leads you to  seek out information that will confirm what you already believe. S hort-term emotion   blinds you from making the right choice, even if it should be completely obvious. Overconfidence  makes you believe you  know more than you actually do.  Fortunately, the Heath brothers also share some solutions to these problems. Here are their ...

It is a further boost for Nigeria’s retail market as foreign investors are in the country to feast on the retail boom with $500 million expected to finance the development of six retail malls in five major cities in the next 30 months.

The Lagos State Government yesterday initiated a rent-to-own housing policy, which it said, would basically step down 30 per cent equity contribution largely for artisans, traders and non-salary earners in the state. Also, the state government said the new policy would eventually lead to mortgage scheme, though it is designed to capture actors in the informal sector in Lagos Home Ownership Mortgage Scheme (Lagos HOMS). The state Governor, Mr. Babatunde Fashola (SAN), disclosed this at a town hall meeting on Lagos HOMS which he addressed at Lagos TV complex alongside the Commissioner for Housing, Mr. Bosun Jeje and his Commerce and Industry counterpart, Mrs. Olusola Oworu, among others.

In a conscious effort to bridge Nigeria’s huge housing deficit which is currently put at about 17 million, the Federal Government had, among other thing,  established the Federal Mortgage Bank of Nigeria (FMBN) to provide quality and affordable housing to Nigerians.  James Emejo examines its impact on the mortgage sector It is estimated that it would require a minimum of N60 trillion to address the current housing deficit of which about 80 per cent of Nigerians live in indecent informal housing structures with no basic amenities and in deplorable conditions. Yet, the vision of the current administration under the Vision 2020 aspiration is to provide decent shelter for all Nigerians by 2020. Although this appears to be a daunting task for government to realize given the present economic realities and the country’s dependence on oil as major source of revenue, efforts have been put in place by government, notwithstanding, to actualise the target through innovative finan...

For many businesses, the most powerful type of marketing available does not have to break the  bank. It’s called grassroots marketing. Grassroots marketing is about targeting a small group, then allowing your message to spread.  Like any good marketing plan, the key to a successful grassroots marketing plan is starting with identifying your target audience. Thinking about those in your backyard is the best way to start. Ask yourself, “Who in my community could be a potential customer and how can I reach them?” 

The mandate given to the Standards Organisation of Nigeria (SON) by the Federal House of Representatives  to ensure the adoption of 42.5MPA grade of cement for construction in the country has been described as a game changer in the ongoing controversy of cement quality, reports Festus Akanbi Nigerians seem to have heaved a sigh of relief as lawmakers took a decision that has been described as a ‘milestone’ on the raging controversy concerning cement quality and uses in the country. In a 12-point recommendation on Tuesday (July 1, 2014), the House of Representatives adopted the report of Hon. Yakubu Dogara-led ad hoc committee on composition and pigmentation of cement quality which investigated the incidence of collapse buildings in the country. SON DG Joseph Odumodu

Worsening insecurity in Nigeria has not deterred foreign investors from buying its assets, Citigroup’s (C.N) country head said last week, citing $1.1 billion worth of Eurobonds it had traded for three local lenders so far this year. But any spread of attacks further south or to the commercial hub of Lagos could start to put even established investors off, Omar Hafeez told Reuters in an interview. The Boko Haram attacks have killed hundreds this year, with the abduction of more than 200 schoolgirls making world headlines in April and overshadowing the country’s rise to overtake South Africa as the continent’s top economy. Nigeria also faces polls in 2015 that are likely to be the most closely fought since the end of military rule in 1999, with many fearing political violence and rampant spending on patronage, as it usually happens in election cycles. “The investment community is very well informed ... Nigeria is a loan market and financial investors have been tapping into tre...

Despite the awareness of facility management, the country still lacks a maintenance culture, the International Facility Management Association, Nigerian Chapter, has said. The association stated that the nonchalant attitude of Nigerians towards facility management was a contributing factor to the infrastructural decay in the country. A facility management instructor, Mr. John Martins, said the number and calibre of Nigerians in the facility management profession had increased over the years but that the management of infrastructure had yet to improve. He said, “Every time I come here, I see improvement in the calibre and professionalism of the people here; an example is that the class I teach is always better that the previous one. Though the instructions and materials are the same, but the quality of the people differ at every point in time. That is one of the best forms of professional achievement; the calibre of people, their experience and knowledge, and their interaction ...

Houston EB5, a real estate investment company, has said it is offering potential Nigerian investors the opportunity to stake their money on real estate developments in Houston, Texas in the United States. According to the firm’s partner in Nigeria, 3Invest Limited, the investment will include a luxury apartment complex in Downtown Houston, called Block 384, and permanent residency in the US through the EB-5 programme for investors. The Chief Executive Officer, 3Invest, Ms. Ruth Obih, said the company had stated raising funds for the project. She said, “This new project, which will be at an investment level of $500,000, has Randall Davis, a Houston-based luxury condominium developer and his partner in Houston EB5, Mexico City native and Houston entrepreneur, Roberto Contreras, excited about the development of the 240-unit, eight story Block 384 luxury apartment after starting the construction on the Astoria building, a 30-story condo tower on Post Oak Boulevard. “Thirty inves...

T he situation in the Nigerian housing market continues to worry observers and players as over 80 percent of the transactions in the market are on rentals. An unconfirmed report has it that home ownership level in the country is as low as 10 percent, meaning that a lot of people are renting. The situation is such that, in the cities, one person who owns a block of 10 flats accommodates, at least, three persons in each flat, meaning that there are 30 or more people tied to only one landlord. Johnson Chukwuma, a structural engineer and real estate consultant, blames this situation on low mortgage  access in Nigeria, explaining that people don’t have capacity to buy and so have to rent.

‘We want to be a continental brand and we are aggressively investing in many African countries; to date we have a presence in 14. In some, we are building cement manufacturing plants, while in many other countries we are building import terminals and cement grinding plants’, Aliko Dangote

International construction companies may be suffering from the economic downturn in Europe and North America but investment has never been greater in Africa. In common with any time over the past three years, the port sector continues to attract massive investment. Rising trade volumes and growing economic confidence are driving growth, while also underpinning a renaissance in road and rail construction. 

The management of Wemabod Estate Limited has said the construction industry is plagued by the absence of long-term funds, which is hindering its growth and the ability of the country to bridge the housing deficit. According to the company, funding remains a critical challenge as real estate development is not merchandising but long-term investment. The Chairman, Wemabod Estate, Dr. Bayo Adewusi, stated this in Lagos when the new Group Managing Director of its holding firm, Odu’a Investment Company Limited, Mr. Adewale Raji, paid a maiden visit to Wemabod.

R eal estate developers have said that the success of the newly-established Nigerian Mortgage Refinance Company (NMRC) depends largely on sustainable capital flow and strict regulation, describing these as veritable tools for meeting the company’s target of increasing homeownership level through an effective mortgage system. NMRC, a secondary mortgage institution, was set up with the primary aim of increasing liquidity in the mortgage system, leading to affordable housing finance. It is expected to be a focal point for creating an enabling environment for housing finance by providing long-term funds to be given at low interest rate. Since its registration by the Central Bank of Nigeria (CBN), with the expected disbursement of the $300 million interest-free loan from the World Bank yet to commence, industry players are of the opinion that a sustainable capital flow and strict regulation of primary mortgage institutions are key to the company’s sustenance. “...

FRESH building blocks were again laid unto the housing sector last week, when the Pan African Housing Finance Institution, Shelter Afrique made a pledge and commitment to the Federal Government to support 10,000 unit housing programme under the Nigerian Mortgage Refinance Company (NMRC). In the sideline of the 33rd Annual General Meeting of Shelter Afrique in Abidjan, Ivory Coast, the Minister of Lands, Housing and Urban Development, Mrs. Akon Eyakenyi, accompanied by the President, the Real Estate Developers Association of Nigeria (REDAN), Chief Emmanuel Olabode held discussion with senior officials of the bank, where the outgoing Managing Director of Shelter Afrique, Mr. Alassane Ba confirmed the institution’s commitment to the programme.

AS controversy rages on over the cement standard, especially grade of cement to be used in the country, manufacturers of UNICEM brands cement have raised fears that consumers may pay more, if 52.5 grades is adopted by producers. The Managing Director of Unicem, Mr. Olivier Lenoir disclosed that producing at that quality would be expensive and would be waste of resources when construction companies could use 42.5 percent for their mix.

In the words of Napoleon Hill,  it is not what you are going to do but what you are doing today that counts. You can learn everything you need to learn in order to achieve anything, but you can never change your leadership until you change your rituals. Rituals can strengthen and spotlight the values, intentions, and experiences you have chosen to live by; they and can be useful when we are trying to figure out what is important. Here are some things that great leaders are doing wholeheartedly to make each day count.

Experts in facility management have said the maintenance of infrastructure in the country should not be left in the hands of the government alone. Indeed, they posited that the private sector should be involved, as it would be futile to leave the provision as well as the maintenance of certain critical infrastructure to government’s management. According to them, a mutually beneficial collaboration between the government and the private sector is important to achieving the desired momentum in economic growth occasioned by adequate and functional infrastructure and housing. This was the conclusion of experts at the 2014 facility management roundtable organised recently in commemoration of the World Facility Day by Alpha Mead Facilities and Management Services Limited, with the theme, ‘Towards optimal performance of critical infrastructure and real estate sets in Nigeria.’ They urged the government not to relent in engaging the private sector. The Secreta...

An investment of at least N48.8tn ($300bn) is required over the next 30 years for housing construction costs alone in the country, the Minister for Lands, Housing and Urban Development, Mrs. Akon Eyakenyi, has said. Minister for Lands, Housing and Urban Development, Mrs. Akon Eyakenyi Eyakenyi stated this in a presentation on ‘Affordable housing finance: The role of government’, at the World Bank and International Finance Corporation’s Sixth Global Housing Finance Conference held in United States between May 28 and 29. The presentation was made available to our correspondent on Sunday. She said with a population of 167 million people, Nigeria remained one of the most rapidly urbanising countries in Africa, with rising housing needs.

Marketing Executive  A real estate Solutions and Development company situated in Victoria Island, Lagos has a vacancy for marketing executives (3 positions). As a company, we create real solutions to solve real estate needs in the housing industry. We require individuals that are go-getters, smart and business minded to join our expanding team. Key Role The primary responsibility of the ME is to attract prospective buyers, create new business avenues and execute sales transactions of our various real estate developments. S/he will also develop and implement marketing strategies that meet the organization’s real estate business targets. Proven skills in customer relationship management will be added advantage. Responsibilities Participating in marketing planning and strategy formulation; Liaising and networking with a range of stakeholders including clients, agents and partner organizations; Communicating with target audiences and managing cus...

We used to think that it took seven seconds to make a first impression. According to new research out of Princeton, it's about 100 milliseconds  — the same amount of time it takes for a giant hummingbird to flap its wings.  We're all constantly practicing what psychologists call physiognomy, or reading a person's personality traits from their appearance.  "Appearance is our first filter," says Sylvia Ann Hewlett, author of new book "Executive Presence," "and it's happening all the time." Job interviews, speaking gigs, client meetings, first dates — the list goes on. "The really good news here is that it's about polish, grooming, and being put together," Hewlett says. "It's not about the precise shape of your body, texture of your hair, or the designer you wear." As part of researching her book, Hewlett and her team at the Center for Talent Innovation did a survey of 4,000 professional...

Efforts by the Lagos State government to boost housing stock with an output of 15,000 units through a Public Private Partnership (PPP) with private estate developers initiated in 2009 has achieved only 10 percent of the projected units. The partnership, which involved the developers providing the needed capital while the state government provided land at different parts of the state, was expected to act as an intervention in affordable housing provision for medium- and low-income earners in the state. Disturbed by the slow progress of the partnership and minimal result achieved, the state government says it is set to review the scheme by softening the process for developers who, the government understands, are facing tough times meeting their part of the bargain. “Evidently, our PPP scheme has not met the target we set in 2009 for some reasons, which include lack of funds for developers to deliver the housing units as our model has always been to provide the ...

Recruiters spend an average of  six seconds reviewing a resume before they make the initial decision on candidates, according to research conducted by TheLadders , an online job-matching service for professionals. That means you have to win them over fast. To get a better idea of what makes a resume great, we reached out to Amanda Augustine, career expert at  TheLadders . She created an example of an excellent resume and allowed us to share it. While resumes should be tailored to the industry you're in, the one below offers a helpful guide for entry- and mid-level professionals with three to five years of relevant work experience.    What makes this resume so great? Augustine outlines the following reasons: