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The Warri Refinery and Petrochemical Company, a subsidiary of the Nigerian National Petroleum Corporation, was on Tuesday razed by fire. It was gathered that the fire, which gutted the topping unit of the 35-year-old refinery, started about 11.00am, while crude oil refining process was on at the 125,000-barrel per day plant. The entire Warri town and environs were said to have been engulfed by the smoke bellowing from the inferno.  The fire was also said to have lasted for a few minutes before it was put off by fire fighters and safety officials of the company. The cause of the inferno could not be immediately ascertained, but the Movement for the Emancipation of the Niger Delta, a militant group, said it set the plant ablaze in fulfilment of its earlier threat to hit oil installations. The acting Group General Manager, Group Public Affairs Division, Nigerian National Petroleum Corporation, Ms. Tumini Green, in a statement, confirmed th...

Dubai Sustainable City Dubai based property developer, Diamond Developers, has launched Dh1 billion “Dubai Sustainable City” with construction set to commence by year-end. The city will be the first residential community of its kind in Dubai and is expected to meet the highest environmental standards by adopting a sustainable approach in its quest to become a regional leader in eco-tourism and global environmental protection. Coming with a residential area of 500 townhouses and courtyard villas inspired by the urban form and heritage of Dubai’s old ‘Bastakyia’ district consisting of several urban themes at three and four bedroom options, the city proposes Sustainable Engineering and Research Institute and Training Centre for sustainable practices, and a nature inspired ‘Green School’ from Kindergarden to Grade 6 as well as eco-resort of 143 bungalows and individual units, deluxe sustainable hotel and resort with a world class natural spa centre. It al...

Amid preemptive measures being proposed by the Lagos authorities to rebuild  Jakande Housing Estate on Adeniji Adele Street in Central Lagos, professionals in the built environment have advised the state government to embark on a holistic approach and studies, which will provide a lasting solution to deplorable conditions of the houses and succor to the property owners on completion of the buildings. They urged the government to conduct structural integrity and soil test on the estate as well as ensure the property owners get better deals, and provided with temporary accommodations or cash incentives to rent apartments while the construction commences. Governor Babatunde Raji Fashola in an unscheduled visit to the estate pledged to rebuild some blocks as some buildings were structurally defective. Some of the buildings had even begun to sink, with the ground floor already submerged. “It is expedient that the structurally defective buildings should be pulled ...

The Proposed 4th mainland bridge will be the missing link completing a transport ring around the city, connecting Ikorodu with the community of Ajah/Lekki, and facilitating the rapid expansion of the eastern corridor of the city.  In addition to the bridge, the govt propose a city centre – a new heart – built on a new artificial island in the lagoon to relieve pressure on Lagos Island, the existing city centre. The 4th mainland bridge will deliver people and traffic across the city and into a 2.5km x 0.8km new urban core for Lagos. The bridge will not only function as a means to distribute vehicular traffic more evenly and connect the new island to the rest of the city; it will stimulate and accommodate pedestrian life – the natural way of life in Lagos, with its tropical environment and intimate, street level exchanges. While vehicle traffic flows on the bridge's upper deck (which includes lanes for BRT buses), the lower deck facilitates the inevitable hustle and bus...

L-R:  Mr. Ismail Omamegbe, Head, Corporate Responsibility, First Bank of Nigeria Limited (FBN); Barrister Rotimi Aladesanmi, Vice President, Kings College Old Boys Association (KCOBA); Otunba Oladele Olapeju, Principal,  Kings College Lagos; Mr. Adeoye Adetuyibi, Sports Secretary, KCOBA; Mr. Sanya Soyannwo, Vice President, KCOBA during the commissioning of the Squash Court built by FBN at Kings College, Lagos. L-R: Mrs Joy Ijeoma Okeye, Vice Principal; Mrs E.M Osime, Principal; Mr. Ismail Omamegbe, Head, Corporate Responsibility, First Bank of Nigeria Limited(FBN); Mrs Olufunmilayo Kayode, Vice Principal during the commissioning of First Bank Sport pavilion built by FBN at Queens College, Lagos. First Bank of Nigeria Ltd. in its bid to st sports development and enhance student health and well-being through physical recreational activities in secondary schools has donated sporting facilities totalling N44 million to Queens and ...

Be part the Most prestigious Real Estate Event in Nigeria.  Real Estate UNITE 2013 , the second edition of an annual international business-to-business real estate investment and development event focused on all aspects of the real estate development cycle with primary objective to unite all players in the real sector whilst opening up the immeasurable potentials in Nigeria’s real estate sector for economic growth, by identifying the principles of development for sustainable growth.  With over 2000 expected attendees and participants, the REU event will host a conference, an exhibition and awards ceremony, which aims to elevate the standards of the industry and practice by providing an opportunity to encourage, promote and recognize spectrum of talents, achievements and excellence in the Nigeria’s real estate sector. With these awards, we seek to expose the huge potentials within the sector, thus creating an investible real estate market in Nigeria....

A total of N195.34bn out of the assets under the Contributory Pension Scheme  has been invested in the real estate sector by Pension Fund Administrators, investigation has shown. Also, as part of ongoing efforts at enhancing contributors’ satisfaction, the National Pension Commission is currently exploring the possibility of allowing contributors to utilise part of their Retirement Savings Account balance to part-finance the acquisition of low-cost houses. According to figures obtained from the NPC on Monday, the total funds under the scheme reached N3.6tn as of the end of August this year. From the statistics, the amount invested in the real estate market accounts for five per cent of the total funds. The Acting-Director General, PenCom, Mrs. Chinelo Anohu-Amazu, said that the commission had remained steadfast in the implementation of the CPS such that in a few years of existence, some modest achievements had been made. “Foremost among such achievements is the consisten...