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CLASSIC HOMES GLOBALLY - Nigeria Special Edition

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www.GLObALHOMeSMAGAZIne.COM

ISSUE 08 MAGAZINE

Kenya | South Africa | nigeria | Ghana | Dubai Investment in Dubai | South Africa | buying house in nigeria

Legal | Government | Interior | Architecture | Hotels | Travel

EXClUsIVE INTERVIEW WITH CEO Of NIgERIa INVEsTMENT COMMIssION (NIPC) ENgR. MUsTafa bEllO.

Happy 50th birthday to Nigeria50

UNION HOMEs MORTgagE fOR NON REsIdENT NIgERIaNs

gROWINg WITH THE COUNTRy; NIgERIa PROPERTy QUagMIRE

CONTENTsCONTENTsCONTENTsCONTENTsCONTENTsCONTENTs

DUBAI | SOUTH AFRICA | PORTUGAL | KENYA | NIGERIA | GHANA | SPAIN | AND MORE >> SUBSCRIBE AT WWW.GLOBALHOMESMAGAZINE.COM 3

Group Publisher /Publisher in Chief :- Roni Akins

Associate Publisher :- Peter Akinmejiwa

editor :- Patricia Walker

Marketing :- Akin Napthal

editor :- Patricia Walker

Distribution Manager nigeria :- Timothy Chinedum

Contributors:- Kehinde Oleshin, NIPC, Lee Jones, Leah Milner, Omobayonle Akinmejiwa,

global Homes Magazine Uk Corporate Offi ce:17 Ensign HouseAdmiral WayCanary WharfLondon E14 9XQ

tel: +44 2078637820, fax: +44 2078637510email: [email protected]:tel: +234 8131179245, 8137019787,8033338915email: [email protected]

ghana: Ghana: +233 244937935email: [email protected]

NIPC CEO INTERVIEW

GLObAL HOMeS MULtIInveStMentS SHOw

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gROWINg WITH THE COUN-TRy; NIgERIa PROPERTy QUagMIRE

MORTgagE fOR NIgERI-aNs abROad POWEREd by UNION HOMEs alsO kNOW as (HaTHs)

fagba HOUsINg EsTaTE agIdINgbI, alaUsa lagOs

lONEX gaRENs EsTaTE bEsIdE OPIC EsTaTE IsHERI NORTH

lIsT Of ON-gOINg Es-TaTEs/PROJECTs fUNd-Ed by UNION HOMEs

WIlbaHI EsTaTE- kUkWa-ba dIsTRICT alONg aIR-PORT ROad abUJa

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UNION HOMEs


Welcome to our limited and special Nigerian edition to cele-brate Nigeria at 50 years after Independence. We at Global Homes Magazine would like to congratulate all Nigerians

both at home and abroad a happy 50 years independence! And in this issue we look at how far Nigeria has come, both in terms of real estate and investment since Independence.

Nigeria, as we all know, is an emerging market which has had her ups and downs with regards to governance. Since I have been visiting Niger-ia, for over three years, I have met people and government agencies who are doing extremely well by operating a transparency policy. One of the organisations I visited was the Nigeria Investment Promotion Commission (NIPC), and to my surprise I did not even off er refreshment to the offi cer who had assisted me. But I was rather shocked to come across a government offi cer who took pride in his job, and actually went beyond the call of duty to encourage and assist me.

In my fi ndings I concluded that there are actu-ally good practices operating in Nigeria, hence our partnership with the organisation. We then took the opportunity to interview the CEO of NIPC Eng, Mustafa Bello, during his current trip to London. The team was very impressed and proud to be Nigerian after seeing the amount of intelligence, work and information that took place. The only thing we had heard in the past had been negatives. Please visit the relevant

pages to see the exclusive interview.

During my various trips to Nigeria I have met a lot of very good devel-opers, architects, legal and interior professionals. The fi nancial sectors

that are now operating good practices, which is why we have decided host the fi rst Real Estate Executive Dinner where the Nigerian ‘Who’s Who?’ can meet together and network.

Also visiting the Lekki Trade Free Zone just sums it all up that we have great leaders do-ing great work in Nigeria. Much of the news we hear overseas is negative; we should not forget to commend and appreciate the changes that have taken, and are taking place in Nigeria. Just take the telecoms industry for example, which has greatly improved since the 70s and 80s

As a Nigerian who lives in the UK I am very proud to fl y the fl ag and would like to say if you do not sing your praises no one will. Let’s keep fl ying the fl ag!

Happy reading

Happy 50th Birthday Nigeria!

Publisher in Chief

Publisher’s Note

“I am the basis of all wealth, the heritage of the wise, the thrifty and prudent. I am the poor man’s joy and comfort, the rich man’s prize, the right hand of capital, the silent part-ner of many thousands of successful men.

I am the solace of the widow, the comfort of all age, the cornerstone of security against misfortune and want. I am handed down to children through generations as a thing of greatest worth.

I am the choicest fruit of toil. Credit respects

me. Yet I am humble. I stand before every-man bidding him know me for what I am and possess me. I grow and increase in a value through countless days though I seem dormant, my worth increases; never falling, never ceasing, time is my aid and popula-tions heaps up my gain. Fire and the element I defi le, for they cannot destroy me. My pos-sessors learn to believe in me; invariably they become envied. While all things wither and decay, I survive. The centuries fi nd me young-er, increasing in strength. The thriftless speak

ill of me. The charlatans of fi nance attack me.

I am trustworthy. I am sound. Unfailingly I triumph and detractors are disproved. Miner-als and oil come from me. I am producer of food, the basis for ships and factories, and the foundation of banks.

Yet I am so common that thousands, unthink-ingly and unknowingly pass me by:

I am real estate”

Lou Scott

INTRO

What is Real Estate?

Roni Akins


Wale gets a new fl at. He moves in and could not believe what stares back at him. The whole

place is in shambles; contrary to what the agent briefed. This is just one of the numerous experiences that befall Nige-rians, especially the ones living in the fast paced urban. Property, real estate or whatever is called business in Nigeria has some unimaginable peculiarities that have not metamorphose even in 50 years.

In 50 years of Nigeria existence no body has been able to put the so called land owners (omo onile in the local parlance) away from the scene. They are every-where donning the feudal Lords cap while fi xing and refi xing self made poli-cies and regulations.

However the real estate has become like in every other part of the world a capi-tal intensive and of course an enriching business. The enriching part can even be easily achieved in a country like Nigeria which boasts of more than 150 million people and most especially in Lagos which has 17 million people who must live in houses and get a befi tting offi ce space. According to the Encyclopedia of the nation concerning Nigeria, hous-ing generally has not ranked high on the scale of priorities for social spending and state governments have tended to rely upon local authorities to meet the problem.

Eff orts at providing low-cost rural hous-ing have been minimal, despite the crea-tion of the Federal Mortgage Bank of Nigeria in 1977, and shantytowns and slums are common in urban areas. Over-crowding in urban housing is a serious problem.

It has been estimated that about 85% of the urban population live in single rooms, often with eight to twelve per-sons per room. Living conditions are poor. In 1996, only about 27% of urban dwellers had access to piped water. Less than 10% of urban dwellers had an in-door toilet.

As of 1979, about 37% of all housing

units were cement or brick roofed with asbestos or corrugated iron; 34% were mud plastered with cement and roofed with corrugated iron. In the same year, 44% of urban dwellings were rented, 37% were owner occupied, 17% were rent free, and 2% were "quasirented" at below-average rates. The total number of housing units in 1992 was 25,661,000.

According to Jaco Maritz fi ndings Prop-erty development in Nigeria has the potential to be a very lucrative busi-ness and developers need to familiarise themselves with the local ways of doing things to get the benefi ts which abound.

Rory Roriston, director of real estate in-vestments, corporate and investment banking at Standard Bank, which Maritz spoke to said housing and rents prob-lems doesn’t apply to the whole of Ni-geria.

“It is generally restricted to Lagos and is as a result of the age old theory of supply and demand. This is particularly preva-lent in the Victoria Island, Ikoyi and Lekki areas in Lagos. Apart from Lekki, which is enormous land reclamation, the islands were previously residential areas. They have now become sought-after areas for commercial offi ces, especially Victoria Island. Ikoyi is still mainly residential but commercial development is happening at a rapid pace. I however don't believe the transformation will be as extensive as Victoria Island and it will be limited to the main arterial roads. Lagos Island is an older mixed-use node but has de-teriorated and become extremely con-gested. The lack of large tracts of land on the islands has been a contributor to the high costs. Another contributor is the shortage of high-grade offi ce space de-manded by international operators that have recognised the opportunities that Nigeria present. This is not a short-lived demand where market rentals tumble every time a major development comes on stream. The rentals are sustainable for the long-term and in fact every major development seems to set a new bench-mark,” he explained

The main risks in real estate business

which has not changes since independ-ence are around land ownership, regula-tory approval processes, hidden transfer costs and problems that come at you from unexpected quarters. Sale agree-ments are very simple and don't contain protection clauses for the purchaser. Payment occurs on signature of the sale agreement after which the purchaser has eff ective use of the property. However, it is the responsibility of the purchaser to perfect title, which can be a fairly drawn-out process with costly hurdles.

It is good practice to partner with lo-cal shareholders ie omo onile that are knowledgeable of the risks and know how to mitigate them.

Major issues involved with land own-ership.

First, land is held under what is known as a Certifi cate of Occupancy (Co of O) which is essentially a leasehold title. The current land registry was only instituted in the 1960s. Some land owners how-ever saw this as the government trying to take their land and did not register. So very often, even in the main city ar-eas you will come across land held under what is termed traditional title. This title has to be rectifi ed to cover any land se-curity. Also, the plot is not always iden-tifi able and survey documents can vary. Generally it is identifi ed by the local community who will confi rm the rough boundaries of the owner's property.

Another major issue is if the owner is from another state. It is possible that the state tax authorities will levy a wealth tax on him and title cannot be perfected until the tax is paid which the purchaser normally ends up paying just to perfect the title.

Another aspect to be very wary of is the add-on costs to a land purchase, par-ticularly the commission and fees. This also applies to leased accommodation. Agents always demand 10% commis-sion and the seller will demand 10% le-gal fees. There is almost no legal work required by the seller and you can prob-ably negotiate this fee down to about

gROWINg WITH THE COUNTRy; NIgERIa PROPERTy QUagMIRE

FeAtUreD


FeAtUreD

2%. The agent will normally settle for be-tween 3% and 5%..

Another problem which has continued to grow over the years is the up front payment. Tenants of both commercial and residential spaces have to pay up-front for the spaces the occupy. Some-times people may have to pay for 2 years and get to see the owner of the property immediately after the rent lapses and never before then. Nobody takes care of the maintenance except the user gets tired of sore sights and malfunctioning facilities. This could be caused by lack of trust and fi nancial security which has en-cumbered the populace for some time. Right now some people now move even further into the suburbs and do almost makeshifts houses to keep their heads to avoid the exorbitant rents in the city.

Investors new to property investment in Nigeria according to Roris-ton lack culture of proper property evaluation. There is no full investment analysis, sometimes resulting in the developer running out of money part way through the construction with his cash tied up in a non income-producing asset. Developers procure a piece of land and just start construction with-out pre-letting or ensuring adequate funding is in place.

Segun Ajanlekoko a fellow at the Nigerian Institute of Quantity Surveyors in his pa-per ;Sustainable Housing De-velopment in Nigeria – The Financial and Infrastructural Implication delivered at the International Confer-ence on Spatial Information for Sustain-able Development held in Nairobi Kenya in 2001 said if the escalating prices of building materials, the constraints in the land delivery system and the high physical standard which militate against getting good housing facilities must be reversed certain actions must be taken. This situation must be reversed quickly

HIS PrOPOSAL AS FAr bACK AS 2001

(i) Establishment of Construction Bank: Part of the problem of the industry is the liquidity i.e. in accessibility to credit facilities. The Commercial Banks are not setup to loan money on long term bases. The establishment of the Construction

Industry own bank where lending is a lot easier and interest rates are far less than commercial rate and the minimum Rediscount Rate (MRR), would not only boost construction activity, it would help jump start up and coming young players in the industry. Part of fund that could be made available for this Bank could be pension funds from government agen-cies and parastals which are currently being wasted through wrong usage. It is important to note that regardless of the availability of long-term lending and the appropriate institutions to render the required services, housing fi nance can only become eff ective when a substan-tial proportion of the population can be served.

The problem is to appropriately fi nance the housing needs of middle and low in-come groups that constitute the major-

ity through this medium. It shall be a pri-vate sector led-bank with government just having an equity interest.

(ii) The Use of Local Building Materials: The use of local building materials and-intermediate technology must be fol-lowed with the provision of other basic infrastructures like safe drinking water, roads, electricity supply and other so-cial amenities especially to improve the quality, liveability and attractiveness of low cost housing Presently houses are built and rely solely on cement. The nation needs about 8.5 million metric tonnes yearly. While our cement com-panies are only able to produce about 2-3 million metric tonnes. This short fall has always accounted for the galloping cost of cement every year as shown in

the table below. Over half of Nigeria’s cement need is imported. According to recent survey, Nigeria is the world largest importer of cement with about 70.5% dependence on importation. The chances of the local industry rising to the task remain very slim as only four out of the seven of the cement compa-nies in the country are still limping along at various levels of capacity utilisation. There is also the campaign to use less of cement blocks in housing construction especially the low-income housing. The research has shown that a 225mm block wall plastered and painted on both sides with emulsion paint cost N1,700/m2 while a similar solid brick wall plastered and painted on one side with emulsion paint cost N1080/m2. A savings of N520/m2. A further savings has been observed could be made with the use of bamboo shoots.

Thus fi nancing the construc-tion of housing for all income groups require creative

framework through – localized design and packaging as op-posed to imported design.

(iii) Evolution of Simpler Form of Design: A need to do away with over – designing and con-centrate more on functional design. The local Architects have to take the lead in this re-gard. A more cost eff ective de-sign is highly desirable at this point in time if mass and cheap housing is to be assured.

Almost ten years after this pro-posal, problems still persist, which bring us to another peculiarity of Nigeria. Many said, nothing done.

In recent years however, we have seen many estates by private developers springing up especially in Lagos state. This has not alleviated pains of the low ends as rents and leases are high way up. Is there no end to this?

By Kehinde Olesin

Haggai Savings & Loans Limited119, Bode Thomas Street, Surulere, Lagos

Tel: 8933362, 8928227, 8752487 8142334. Fax: 01-2710054E-mail: [email protected]: www.haggaibank.com

HOMES

It has been estimated that about 85% of the urban population live in single rooms, o� en with eight to twelve persons per room. Liv-ing conditions are poor. In 1996, only about 27% of urban dwell-ers had access to piped water. Less than 10% of urban dwellers had an indoor toilet.


CAPtIOn Here

Haggai Savings & Loans Limited119, Bode Thomas Street, Surulere, Lagos

Tel: 8933362, 8928227, 8752487 8142334. Fax: 01-2710054E-mail: [email protected]: www.haggaibank.com

HOMES


IntervIew

NIPC CEO INTERVIEW

what is the current level of investment is nigeria compare to when the com-mission started?

The Nigerian Investment Promotion Commission was established by the NIPC Act No 16 of 1995 to promote, co-ordinate and monitor all investments in Nigeria.

Since the establishment of NIPC the level of investment has progressively increased, with steady stream of invest-ment being attracted into the economy, mostly in non-oil sectors due largely to the unrelenting drive of NIPC.

Currently, Nigeria receives the larg-est amount of Foreign Direct Invest-ment (FDI) in Africa. FDI inflows have been growing enormously over the last decade; according to UNCTAD, from USD1.14billion in 2001 and USD2.1billion in 2004, Nigeria’s FDI reached USD11bil-

lion in 2009 making Nigeria the nine-teenth greatest recipient of FDI in the world.

NIPC’s coordinated activities and the set-ting up of the One Stop Investment Cen-tre (OSIC) in March 2006 have catapulted Nigeria’s FDI framework successfully to the top of the investment table in Sub-Saharan Africa.

NIPC is committed to bringing in even more investment.

what is the process of investing in ni-geria i.e role of nIPC/One stop shop?

The Nigerian Investment Promotion Commission was established to facili-tate investment in Nigeria, to create and maintain an enabling environment for local and foreign investors, encourage and provide necessary assistance and guidance for the establishment and op-

eration of enterprises in Nigeria.

NIPC in an effort to streamline the busi-ness entry procedures established The One Stop Investment Centre (OSIC). OSIC is an investment facilitation mechanism where relevant agencies are brought to one location, coordinated and stream-lined, to provide efficient and transpar-ent services to investors.

Accordingly, business entry procedures into the economy have been made very transparent, convenient, efficient, sim-ple, timely and in one location. The es-tablishment of OSIC has greatly restored the confidence of investors on receiving prompt efficient and transparent service from government agencies.

Business entry in Nigeria has been made easy as all the necessary agencies for business incorporation are in OSIC.

Global home exclusive interview with the CEO of Nigeria Investments promotion commission


IntervIew

The first stage in the process of investing in Nigeria is the Company Incorporation and Tax registration with the Corporate Affairs Commission (CAC) and the Fed-eral Inland Revenue Service (FIRS) at OSIC. The second stage is Obtaining Business Permits from NIPC, which takes not more than 24hrs. Once the company has been duly incorporated and the initial permits acquired, the investor can commence operations and proceed to enjoy other services offered by NIPC and other par-ticipating agencies at OSIC.

Have you been able to boost investor’s confidence as regard on-going political situation?

Every country in the world faces political situations at one point in time. Political situations are therefore not just peculiar to Nigeria.

With the establishment of the Economic and Financial Crimes Commission in 2006, foreign investors have been given a sense of security and a higher level of confidence. To assist foreign investors, a Transaction Clearance Platform (TCP) was set up, through which investors can access basic due diligence services on proposals before jumping at them.

Nigeria today enjoys a stable democracy and is in no political situation that threat-ens investors; so there should be no fear of loosing money and investments.

Nigeria is richly endowed with human and natural resources. These wide rang-ing investment options supported by ro-bust incentives regime, encourages for-eign investors to do business in Nigeria.

How are you tackling with infrastruc-ture issues?

The Nigerian government and NIPC are paying particular attention to infrastruc-tural development. Since 2008, Nigeria has been developing a Medium Term Sector Strategy for growth for the years 2009-11, as a means of more clearly co-ordinating the government’s medium term goals of revitalizing major infra-structures in the country. Notably, these include transport and power generation. President Goodluck Jonathan has em-phasized the need to continue develop-ing these critical areas in line with overall objectives of government that focuses on infrastructural development so as to reduce poverty, ensure a stable econo-

my, generate employment and improve the general standard of living.

Through the Public Private Partnerships (PPP) that was launched in June 2010, to transform Nigeria’s infrastructure, states are beginning to understand the need for major road repairs and development of roads such as Lagos-Ibadan express-way.

With 5,300 miles of waterways, a pro-gramme being initiated sees the revitali-zation of major ports including Bonny, Calabar, Koko, Port-Harcourt and Sapele.

The Nigerian government is also work-ing to reopen rail links around the coun-try especially rail links between Nigeria’s seaports and inland container depots as a means of reducing pressure on roads and also finish the 11.8mile long Ajaoku-ta-Itakpe-Warri standard gauge line.

To address the frightening issue of power, the Nigerian government has launched USD40-60billion power plan over the next six years, which includes the installation of a national super grid to replace the obsolete transmission line.

which countries has shown more inter-est in nigeria investment?

Investment opportunities in Nigeria are open to all nations and since the es-tablishment of NIPC, record shows the inflow of FDI has been widely spread across all regions of the world.

Today Nigeria enjoys a versatile inflow of FDI from across the world in not only oil sector but also in agriculture, telecom-munication, manufacturing and tourism areas.

There has been a high inflow of FDI from China with a direct investment worth about USD6billion, USA, India, Iran, UK, South Africa, Brazil, Italy, France and Netherland.

How are you tackling the issue of impo-lite trading activities of foreign inves-tor?

So far we have not experienced any seri-ous challenges and mischief in our deal-ings with foreign investors. While on our part, we try to ensure that our services are compliant with international best practices which giving proper counsel on how to do business in Nigeria accord-ing to the rules.

In what ways do you look after nigerian investor seeking foreign partner?

NIPC has consistently engaged in organ-izing Business and Investment Forums (BIFs) across the world, mainly to high-light the investment opportunities in Nigeria, the incentives available to in-vestors and to bring together local and foreign investors. Through various BIFs, NIPC has successfully linked a number of local entrepreneurs with foreign part-ners. We are also nurturing these rela-tionships through our special aftercare services.

NIPC recently hosted the ‘Nigerian In-ternational Investment Forum’ (NIIF) in collaboration with the Commonwealth Business Council. The forum brought to-gether investors, local and foreign com-panies from across the world, govern-ment dignitaries and the media.

The forum provided a platform for local and foreign investors, company repre-sentatives, government dignitaries and the media to network and interact with one another.

what are the outcomes of your meet-ing on U.S.-nigeria energy and Invest-ment working Group?

As a matter of fact Nigeria and USA have a good working relationship and part of the President’s agenda is on reforming the energy sector. The working group is determined to tackle the energy issue. The Nigerian government and the US government reiterated their commit-ment to continued co-operation in the reform, management and performance of the power sector, particularly in the areas of power generation, transmission and distribution. Both countries noted the reform of the energy sector is crucial to attracting needed investment and in other to promote sustainable develop-ment.

Any plan to expand your activities be-yond Nigeria for example like setting up an office in other parts of the world?

NIPC’s function among others is prima-rily investment promotion. This include image building in the global arena. Hence it will be a brilliant step to estab-lish offices across the shores of Nigeria.

NIPC has a working plan to establish branch offices in strategic locations across the globe to further co-ordi-nate and promote investment activi-ties.

www.nipc.gov.ng

global Homes Uk Corporate Offi ce:17 Ensign House

Admiral Way, Canary Wharf London, E14 9XQ UK.

Tel: +44 (0) 2078637820 | fax: +44 (0) 2078637510

Nig: +234 (0) 8131179245 | +234 (0) 8137019787 | +234 (0) 8033338915

www. globalhomesmagazine.comEmail: [email protected]

CLASSIC HOMES GLOBALY

$4.00 N500 £2.50

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WWW.GLOBALHOMESMAGAZINE.COM

ISSUE 08 MAGAZINE

Kenya | South Africa | Nigeria | Ghana | Dubai Investment in Dubai | South Africa | Buying house in Nigeria

Legal | Government | Interior | Architecture | Hotels | Travel

EXCLUSIVE INTERVIEW WITH CEO OF NIGERIA INVESTMENT COMMISSION (NIPC) ENGR. MUSTAFA BELLO.

Happy 50th Birthday to Nigeria50

UNION HOMES MORTGAGE FOR NON RESIDENT NIGERIANS

GROWING WITH THE COUNTRY; NIGERIA PROPERTY QUAGMIRE


PHOtO SPeAKS

GLObAL HOMeS MULtIInveStMentS SHOw


UnIOn HOMeS

AbOUt UnIOn HOMeS

Pevron Estate Ltd is now in partnership with Union Homes, a member of the Un-ion Bank group, the leading mortgage finance institution in Nigeria and quoted on the Nigerian Stock Exchange. Pevron Estate helps facilitates sales and mort-gage for Nigerians abroad.

At Union Homes, we remain committed to supporting the customer’s needs with or experience in housing, and mortgage finance cutting across various segments of the market.

tHe PrODUCt

The HATHS scheme is for Nigerian resi-dent abroad. Many Nigerian are interest-ed in owning a home in their fatherland but do not have a credible means of chan-nelling their resources to achieve these objectives. HATHS is `Union Homes’ safe and convenient solution which enables the Nigerians living abroad to actualize emotive desire of owning a house in his fatherland.

tHInGS tO DO

Build, Buy, Complete and Renovate Prop-erty in Nigeria

beneFItS

• Safe and secure application of funds

• Motivates regular home coming

• Opportunity to invest n real estate

in Nigeria

• Ease of transaction

• Enhanced self esteem and Public Perception

• Convenient and competitive fund-ing

• Cash flow advantage

• Dealings with credible institutions

wHO CAn APPLY

• Gainfully employed Nigerian living abroad or the Nigerian spouses of foreign nationals living abroad.

• Non-residents Nigerians living abroad and Serving the nations interest in various international as-signments.

• Applicants must be credit worthy i.e References from their bankers are required.

• Verifiable evidence of a regular source of income required and duly confirmed by the employer

• Applicants to provide 25% down payments

HOw MUCH YOU CAn bOrrOw

• Maximum amount to be disbursed is 75% of cost of property.

• The loan repayment is between 10-15 years or before attaining the age of 60 years whichever is earlier.

MORTgagE fOR NIgERIaNs abROad POWEREd by UNION HOMEs alsO kNOW as (HaTHs)HOUSE AT HOME SCHEME (HATHS)

Guarantees you home in your fatherland


InveStMent

afIN (Palace)6 Beds Detached House & BQ6 En-suite BedroomsGround fl oor – 224sq. M,1134 sq.M. plot, study/7th Bed4 Receptions, 6.5 Bathrooms

agbala (big yard)5 Bed Detached House & BQ5 En-Suite BedroomsGround Floor – 167.6 sq. M.First Floor -217.4sq M995 sq M. plot, Study/6th Bed4 Receptions, 5.5Bathrooms

QUEEN aMINa5 Bed Semi-Det. House & BQ5 En-suite BedroomsGround Floor – 1657 sq. M.First Floor- 170.8 sq. M.630sq. M. plot, study/6th Bed,4 Receptions, 5.5 Bathrooms

baalE (king)4 Bed, Detached House & BQ4 En-Suite BedroomsGround Floor – 122.1 sq. M.640 sq.M. plot, 4 Receptions5.5Bathrooms

OlORI (Queen)4 Bed. Semi-Det. House & BQ

4 En-suite BedroomsGround Floor- 140.1sq. MFirst Floor – 140.1 sq. M

500 sq.M. plot, 4 Receptions4.5 Bathrooms

NZE (Chief)4 Bed End Terraced & BQ3 Receptions, 3.5 Bathrooms4 Bed Mid Terraced & BQ4 Bed End Terraced4 Bed Mid Terraced

sERVICE:

• CCTV Monitoring

• Effi cient Refuse Disposal

• Concierge Services

• Security Patrol 24/7

• Intercom

faCIlITIEs;

• Gym

• Tennis Court, Football Pitch

• School and Shopping Mall

PayMENT OPTIONsStage 1; 1 MillionStage 2; Within 90days-30%Stage3 Mortgage or interest FreeInstallmental payment plan over 9months – 21 months

nig: +23414615729 | Tel: Fax: +23414630015website: www.pevronestate.com | email: [email protected]

aMEN EsTaTEs


InveStMent

» 5 Bedroom Semi-detached Duplex

» N50m per unit

» Detail/Status: Limited number of units avail-

able, located at Agidingbi close to Ogba are completed and ready for occupation.

» 25% payment Guarantees Reservation of Unit.

fagba HOUsINg EsTaTE agIdINgbI, alaUsa lagOs

CONTACTS : Nig: +23414615729 | Tel: Fax: +23414630015Website: www.pevronestate.com | Email: [email protected]


InveStMent

CONTACTS : Nig: +23414615729 Fax: +23414630015Website: www.pevronestate.comEmail: [email protected]

dETaIls/sTaTUs:

Well planned estate comprising various house type serviced plots also available

3 Bedroom Terrace Houses N18.37m



5 Bedroom Semi-detached Houses (option B) N28.69m

5 Bedroom Semi-detached Houses (option A) N46.21m

5 Bedroom Detached Houses (Option B) N32.23m


25% payment guarantees reservation of unit.

lONEX gaRENs EsTaTE bEsIdE OPIC EsTaTE IsHERI NORTH


InveStMent

lIsT Of ON-gOINg EsTaTEs/PROJECTs fUNdEd by UNION HOMEs

3 Bedroom Luxury flats n9.75m

Details/Status: Limited No. of 3 Bedroom flats on 3 Storey, On-going

3 Bedroom Luxury flats n200m/unit

Details/Status: Limited No. of luxury houses with swim-ming pool, Clubhouse/Gym, fitted kitchen e.t.c, project is on-going. 20 units of 2 Bedroom Semi-detached

Bungalow n6.5 - n8.0m

Details/Status: A tastefully finished mini-estate in a good location in Kubwa, Abuja, completed and r.eady for occupation.

3 Bedroom Luxury flats n9.75m

24 Units of 5 Bedroom Terrace Houses n42m

61 Units of 4 Bedroom Terrace Houses n38m

Details/Status: Exquisite estate in a good location, directly on Kudirat Abiola Road,Oregun, Ojota

LSDPC AMUWO ODOFIN HOUSING ESTATE

UNION HOMES PROBYN ESTATE, PROBYN ROAD, IKOYI, LAGOS

UHSL WHITE GOLD ESTATE, KUBWA, ABUJA

ALFRED GARDENS ESTATE, OREGUN ROAD, IKEJA

COntACtS : nig: +23414615729 | UK: +44 2030867020 | Fax: +23414630015website: www.pevronestate.com | email: [email protected]

Open Stalls n1.9m

Lock up shops n2.2m

Lock up shops ensuite n2.5m

(Legal fees @ 5%&Agency fees @ 5%)

PrICe: n10,000/sqm, Land opposite Abraham Adesan-ya estate and close to Pan African University, Ajah,

OPEN PLAN OFFICE SPACE ON LEASE (3 YEARS INITIAL RENT)

Ground floor space n30,000/m2 p.a

First floor space n28,000/m2 p.a

Second floor space n25,000/ m2 p.a

Service charge n10,000/m2 p.a Agency fee @ 5%.

NEW NIGERIAN ARMY SHOPPING COM-PLEX, IKEJA,OSHODI

20 HECTARES (200,000m2) OF PRIME LAND AT AJAH, LEKKI, LAGOS.

UHSL ULTRA MODERN MEGAMALL, GARKI II, ABUJA

2 Bedroom flat n4.2m


FLATS AT ODONLA(LSDPC) HOUSING ESTATE, IKORODU,LAGOS


InveStMent

COntACtS : nig: +23414615729 | UK: +44 2030867020 | Fax: +23414630015

website: www.pevronestate.com email: [email protected]

dETaIl/sTaTUs:Different types of houses with medium finishing infrastructures and amenities in place.

WIlbaHI EsTaTE- kUkWaba dIsTRICT alONg aIRPORT ROad abUJa

PrICeS:


2 Bedroom flat with BQ n22.9m



4 Bedroom Detached with guest chalet n55m

25% payment guarantees reservation of units.

HAWTHORN SUITES

INVITATION TO BE ONE OF THE PRIVILEGED FEW TO EX-PERIENCE OWNERSHIP OF A LUXURIOUS SUITE WITHIN THE HAWTHORN HOTEL ABUJA.

PRICES:

One Bedroom Suite Starting at $220,000.00

Two Bedroom Suites Starting $350,000.00

One Bedroom Lo� Apartment Starting $285,000.00

Two Bedroom Lo� Apartments Starting $500,000.00

COntACtS : nig: +23414615729 | UK: +44 2030867020

Fax: +23414630015website: www.pevronestate.com

email: [email protected]

Located at Uke Street, o� AhmaduBello way Abuja, is Nigeria’s foremost extended stay � ve star hotel consisting of 110 luxury suites with 20 suites available for sale within a limited time on a � rst come � rst serve basis. � is strategically planned model of condo suite will provide a proud owner with the option of luxurious second home or rental income generation at a break even window unrivalled by the real estate industry.Abuja Hawthorn Suites, a franchise of Hawthorn Suites of the US ( a subsidiary of the Hyatt Group whose brand includes the famous Grand Hyatt, Hyatt Place, Regency Place, Hawthorn Suites e.t.c) is the � rst of its kind in Africa and brings the convenience of ownership within the condo concept hotel which have been an exclusive o� ering in Miami, At-lanta, New York and recently Dubai, Canada and Caribbean. Needless to say, the Abuja Hawthorn o� er is for a privileged few investing minds with a unique tradition for quality.

Payment Schedule:

40% of purchase price at signing

All payments are made payable to “Shelter Suites & Hotels Limited

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