In 2015, the retail sector of the real estate industry experienced a huge setback in its growth and development due to some abrupt modifications to certain regulatory policies, which stalled new development activities and stifled existing operations FRONTLINE real estate firm, UACN Property Development Company Plc (UPDC) has urged the Federal Government to review the existing policy framework and create a robust platform that will support and indeed accelerate the much desired “retail revolution” in Nigeria. The firm spoke last week in Kaduna, Kaduna State, the takeoff of yet another project aimed at boosting the retail sector of the real estate industry, named Galaxy Mall, a partnership project between the Kaduna state government and UPDC. With the landed property provided by the state, the developer is set to create a unique node of commerce, entertainment and leisure, which will add great value to the entire citizenry of Kaduna state. Galaxy Mall, which has a gross ...
IN a bid to curtail loss of lives and property, the federal government at the weekend appealed to Nigerians living along flood plains across the country to prepare for relocation to areas considered to be safe. The Federal Ministry of Environment warned that coastal flooding resulting from sea level rise and tidal surges is likely to occur in Lagos, Bayelsa, Rivers and Delta states while massive rains are expected to cause river flooding in Niger, Sokoto Rima, Benue and Anambra states. Also, flash flooding could be experienced in some urban locations such as Ibadan, Lagos, Sokoto, Birin Kebbi and other towns along the country’s coastlines. The warning is coming on the heels of the House of Representatives demand that relevant government agencies take immediate steps to avert ‘massive flooding’ along River Benue and Lower River Niger. The parliament also appealed to the state governments and other relevant stakeholders to take note of the 2015 seasonal rainfall prediction by...
Investors from the United States and China have indicated interest in the proposed industrial parks to be created across the six geopolitical zones in the country. The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, said this at an ongoing two-day retreat at the Free Trade Zone, Onne, Rivers State. The retreat which was organised by the United Nations Industrial Developemnt Organisation, had the theme: ‘Addressing unemployment and poverty through the development of Small and Medium Scale Entreprises’. Enelamah said, “The Federal Government has concluded talks with some foreign investors from the United States and China, who have indicated interest to invest in the regional economic parks to be built across the six geopolitical zones. “These parks are designed to enhance industrialisation and therefore boost the nation’s non-oil export base.” He said the creation of the proposed industrial parks was in response to the huge infrastructural gap i...
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