Rullion's Blog

Reaffirming its position as the choice property development company for the growing middle class, International Property Development Consortium (IPDC) has promised an exciting 2014 for Nigeria’s mid-income property market with its range of developments in major city centres. The firm, which is already a major player in the Lagos mid-income market with various mini apartments such as Lotus Apartments and Pine Court Apartments, will also for the first time veer into the Abuja market with its lifestyle Hilltop terrace. In an exclusive chat with BusinessDay, Weyinmi Edodo, chief executive officer, IPDC Limited, said the firm would make its debut in the Abuja market with about 10 units of terrace houses to be located at the Asokoro area of the city. The lifestyle community will be delivered in four-bedroom apartments with state-of-the-art facilities such as automatic gate, club house, swimming pool and other luxurious amenities.  However, it will be moderately priced...

Citing his government’s desire to encourage low income Lagos residents to own homes without much stress, the Lagos State Governor, Mr. Babatunde Raji Fashola on Monday flagged off the Lagos Home Ownership Mortgage Scheme (LagosHOMS). Mr. Fashola said LagosHOMS is part of his administration's solution towards reducing the acute housing deficit in Lagos State. According to Fashola, "the economic realities had made house ownership almost impossible for most income earners". He went further to say, "for many years, our people have had to acquire houses, often times being required to pay cash once and for all, as if they were buying a shirt or a pair of shoes in a shop. This approach in part, explains why a large number of ordinary middle class and working people, cannot afford to acquire homes on the basis of their legitimate income derived from hard work. In Lagos, we are of the view that a home is not something you buy in one day, but over time in a way that your...