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Top 10 Reasons to Invest in Nigerian Urban Properties by Dennis Isong

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Top 10 Reasons to Invest in Nigerian Urban Properties by Dennis Isong

Top 10 Reasons to Invest in Nigerian Urban Properties by Dennis Isong

 

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Sahara Weekly Reports That A number of reasons have contributed to a significant increase in urban property investment in Nigeria in recent years. Urban property investing is a desirable potential for both local and foreign investors due to a mix of a rapidly growing population, continual economic developments, and altering demographics. This article delves into ten persuasive justifications that highlight the possible wisdom of deciding to invest in Nigerian urban real estate.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Top 10 Reasons to Invest in Nigerian Urban Properties by Dennis Isong

 

 

 

 

 

 

 

 

 

 

 

 

 

Several important variables are responsible for Nigeria’s increased interest in urban real estate. First off, there is a growing demand for residential and commercial space due to the country’s rapidly increasing population, especially in urban regions. Infrastructure improvements, more job possibilities, and a growing middle class are just a few of the current economic factors that are fueling this demand.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Furthermore, changing demographics play a pivotal role. As more young professionals and families seek modern and convenient living spaces, the demand for well-located urban properties continues to rise. The shift towards urbanization is reshaping lifestyles and preferences, making investments in well-designed and strategically located properties a lucrative option.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nigeria’s favorable investment climate, which includes various incentives and reforms aimed at attracting foreign investors, has also contributed to the increasing interest in urban property ventures.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The government’s efforts to improve the ease of doing business and provide legal protections for investors enhance the overall appeal of investing in urban properties.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A major attraction is also the potential for capital growth and rental revenue. Due to the great demand for urban properties, they frequently produce consistent rental returns, making them a dependable source of passive income.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additionally, property values are projected to increase over time as metropolitan areas continue to expand and gentrify, providing investors with the possibility of long-term financial advantages.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rapid Urbanization:

 

Nigeria is currently undergoing a pronounced phase of urbanization, marked by a significant surge in population migration towards urban centers. This transformative trend is instigating a noteworthy surge in the need for urban real estate, encompassing a diverse array of properties ranging from residential apartments to dynamic commercial spaces, as well as innovative mixed-use developments that cater to the multifaceted demands of modern urban living.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Growing Middle Class:

 

The growing middle class is driving a higher need for contemporary and convenient living spaces, leading to a notable uptick in the urban real estate market for properties. This trend is being fueled by the desire for improved lifestyles and urbanization, as more individuals seek modern housing options in bustling city environments. As a result, the demand for well-designed, accessible, and technologically advanced urban properties is on the rise, propelling the real estate market to new heights.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Economic Growth:

 

Nigeria’s bustling urban centers serve as vibrant epicenters of economic vitality, drawing in a myriad of enterprises, innovative entrepreneurs, and ambitious job seekers. Exploring the prospect of property investments within these flourishing locales not only promises the allure of substantial rental returns but also opens the door to significant appreciation in capital value over time.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Infrastructure Development:

 

Both government initiatives and private sector investments in infrastructure are playing a pivotal role in enhancing the connectivity and accessibility of urban areas. Improved transportation links in these regions often lead to a surge in property demand and an increase in property value.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The collaboration between government efforts and private sector investments has become instrumental in shaping the connectivity and accessibility of urban landscapes. These initiatives encompass a wide range of infrastructure developments, including the expansion of road networks, the establishment of efficient public transportation systems, and the integration of advanced technologies that facilitate smoother mobility within cities.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As a direct consequence of these advancements, areas that benefit from enhanced transportation links tend to witness a substantial transformation in their property dynamics. The demand for properties in these well-connected neighborhoods experiences a noticeable upswing, driven by the convenience and ease of movement that improved infrastructure offers to residents.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Moreover, the value of properties in such areas also sees a significant appreciation, as the enhanced accessibility and connectivity contribute to the overall desirability of the location.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This phenomenon can be attributed to several factors. First, the accessibility provided by well-connected transportation systems attracts both individuals and businesses looking for convenient commuting options.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As a result, the demand for properties in these regions increases, exerting upward pressure on property prices. Second, improved urban connectivity often leads to an influx of economic activities, which can stimulate local economies and create a virtuous cycle of growth.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This economic vibrancy further enhances the appeal of the area, translating into heightened property values.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diversification:

 

Real estate investment provides diversification in an investment portfolio. Urban properties offer an alternative asset class that can act as a hedge against inflation and market volatility.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Direct Investment (FDI):

 

Nigeria’s urban property market is attracting foreign investors looking to capitalize on the country’s emerging opportunities. FDI inflows can contribute to overall market growth.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tourism and Hospitality Boom:

 

Nigeria’s growing tourism and hospitality sector is driving demand for short-term rental properties, particularly in popular urban destinations. Investors can benefit from consistent rental income.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government Incentives:

 

Government policies aimed at promoting real estate investment, such as tax incentives and ease of doing business reforms, are creating a favorable environment for urban property investors.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cultural and Commercial Centers:

 

Lagos, Abuja, and Port Harcourt stand as vibrant cultural and economic epicenters, drawing in inhabitants, enterprises, and visitors. Placing investments in real estate within these thriving urban cores can lead to significant financial gains due to their dynamic nature and constant appeal to a wide range of stakeholders.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term Appreciation:

 

Over time, real estate has demonstrated its ability to appreciate significantly. As urban centers grow and flourish, there is a strong likelihood that property values will continue to increase due to ongoing development and prosperity. This potential for long-term appreciation makes real estate an attractive investment option.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

 

 

 

 

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UNBOXX Sports, Giraffe Global Magazine Announce Exciting Media Partnership

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UNBOXX Sports, Giraffe Global Magazine Announce Exciting Media Partnership

 

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Chaos In Lagos Boxing Event: A Game-Changer.
Excitement fills the air as UnBoxx Sports, a powerhouse in the world of boxing events, gears up to host the highly-anticipated Chaos In Lagos boxing event. The adrenaline-pumping matches promise to deliver awe-inspiring knockouts and fierce competition that will keep viewers at the edge of their seats. This event is not just another boxing match; it’s a game-changer that will redefine the landscape of sports entertainment.

UnBoxx Sports: Revolutionizing the Boxing World.
UnBoxx Sports has carved a niche for itself in the boxing industry by consistently delivering top-notch events that leave spectators in awe. With a keen eye for talent and a passion for the sport, UnBoxx Sports has successfully captured the hearts of boxing enthusiasts. The Chaos In Lagos event is set to showcase the best of the best in the Nigerian boxing space, promising a night of unforgettable moments and jaw-dropping action.

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Giraffe Global Magazine: Bringing Innovation to Sports Journalism.
On the other hand, Giraffe Global Magazine has been making waves in the media (online blog and magazine) industry with its innovative approach to politics, entertainment and sports journalism. With a focus on delivering news that resonates with audiences, Giraffe Global Magazine has become a trusted name in the world of journalism.

What to Expect: Unrivaled Contents and Unforgettable Moments
As part of this exciting partnership, fans can expect unrivaled contents of the Chaos In Lagos event, with Giraffe Global Media Ltd bringing its innovative approach to sports reporting to the table. From exclusive behind-the-scenes access to in-depth analysis and expert commentary, viewers can look forward to a truly immersive and unforgettable viewing experience. This collaboration is set to raise the bar for sports entertainment and set a new standard for future events.

Stay Tuned for More Exciting Updates.
The partnership between UnBoxx Sports and Giraffe Global Media Ltd is a testament to the power of collaboration and innovation in the sports industry. As the Chaos In Lagos event draws near, fans can expect more exciting updates and announcements that will further enhance their viewing experience. Get ready to witness history in the making as these two giants join forces to deliver a sports entertainment extravaganza like never before. Stay tuned for more updates and get ready to be blown away by the magic of the Chaos In Lagos event!

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Rivers Govt Counters Former Commissioner Adangor Resignation Claims

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Rivers Govt Counters Former Commissioner Adangor Resignation Claims

 

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The Rivers State Government has advised former Commissioner for Justice, Zaccheus Adangor, to come clean on the reason behind his resignation.

In a statement signed by the Commissioner for Information and Communications, Warisenibo Joe Johnson, the government rubbished Adangor’s claims that he resigned over refusal to institute a legal action against the 8-point Presidential Proclamation on the political disagreement in the state.

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According to Joe Johnson, Adangor quit upon his redeployment as Commissioner for Special Duties.

“It is a clear fact that is already in the public domain that Mr. Adangor SAN personally stated in his letter of resignation on Ministry of Justice letter headed paper dated 24th April, 2024 upon his redeployment as Commissioner for Special Duties (Governor’s Office), wherein he said that he was not going to be reassigned, and added falsely that the Governor was interfering with his work,” the statement said.

“It is therefore so surprising that instead of clearing himself of the open declaration by His Excellency, Sir Siminalayi Fubara, GSSRS that he (Adangor, SAN), is a saboteur, the learned Senior Advocate of Nigeria has whimsically resorted to cheap blackmail and barefaced falsehood.

“One would have expected the Senior Advocate of Nigeria to respond to that weighty accusation to clear his name and tainted image, instead of the resort to afterthought of twisting the facts, simply to divert attention.

“It is public knowledge that going by the governor’s antecedents, he cannot and will not and couldn’t have interfered with the work of the former Attorney-General and Commissioner for Justice nor instigate Prof. Adangor to initiate any legal process against the President for his intervention in the Rivers State political crisis orchestrated by those who are hellbent on playing God in the state.

“This is because, we have the facts on why Prof. Zaccheus Adangor, SAN hastily resigned from the State Executive Council when it was discovered the type of person he is.

“Most shocking is that as a professor of law, Prof. Adangor used frivolously, the official letter headed paper of Ministry of Justice, which was not to be, to write his letter of resignation instead of his personal letter heading.

“We therefore use this medium to challenge Professor Zaccheus Adangor, SAN to come clean by telling Rivers people, and indeed the world the truth, the whole truth and the only truth about his escapades.“

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Bayelsa ex-lawmaker petitions EFCC to probe NCDMB’s investments

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Confusion as EFCC names ex-Kogi Gov in amended corruption allegations perpetrated before he became Governor

Bayelsa ex-lawmaker petitions EFCC to probe NCDMB’s investments

A former member of the House of Representatives, Honorable Israel Sunny-Goli, has petitioned the Economic and Financial Crimes Commission (EFCC) to probe multi-million naira investments made by the Nigerian Content Development and Monitoring Board (NCDMB).

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Sunny-Goli, who represented the Nembe-Brass Federal Constituency in the 9th Assembly, stated that he is calling for a thorough investigation and possible prosecution regarding the disbursement of funds for the Brass Fertilizer and Petrochemical Limited, the Atlantic International Refinery and Petrochemical Limited, as well as the Brass Petroleum Product Terminal Limited.

The former lawmaker noted that all the projects are situated within the precinct of Brass Local Government Area and that the investments were undertaken during the tenure of the immediate past Executive Secretary of the Board, Engr. Simbi Kesiye Wabote.

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According to him, NCDMB’s total equity of $200 million was contributed to the Brass Fertilizer and Petrochemical Limited project, which was conceived to establish two trains of 5,000 MTPD methanol plants and one train of 500 Mscf per day processing plant, along with associated infrastructure to be sited in Odioma, Brass Island, Bayelsa State.

For the Atlantic Refinery project, he disclosed that a full investment of $35 million was made for the project, which was expected to be a 2,000 bpd modular refinery with a jetty facility and 2MW power plant, with a duration of 24 months completion at the Brass Free Trade Zone (FTZ).

Sunny-Goli further stated in his petition that the Brass Petroleum Product Terminal Limited is also included for probe, with NCDMB’s investment aimed at establishing a 50 million-liter facility with a two-way product jetty, automated storage tanks, and loading bay in Brass Local Government Area of Bayelsa State.

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He expressed sadness that the current state of the three projects is nothing to write home about, as they are now surrounded by uncertainty and a sense of gloom.

Sunny-Goli pointed out that the projects are well-meaning and could provide jobs for the teeming unemployed youths and also increase the government’s revenue.

“To ensure that our great nation is not short-changed, and our teeming unemployed youths are not denied gainful employment opportunities in line with the Renewed Hope Agenda of President Ahmed Bola Tinubu, I hereby request that your commission immediately institute a thorough investigation into the projects listed above and prosecute without delay anyone found culpable in the event of misappropriation of funds,” he said.

 

Bayelsa ex-lawmaker petitions EFCC to probe NCDMB’s investments

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