Category: Shelter

Firm to Develop Affordable Homes for Calabar Residents

An indigenous firm, Turn – Over Plus Limited, is set to develop a housing estate, Green City Estate, Calabar, Cross River State, in an effort to boost the housing stock in the state.

The Green City Estate is located in Ikot Offfiong, Ambia, said to be the most serene part of Calabar metropolitan city, with a clean, beautiful, well developed infrastructure, hospitable and good safety and security facility.

The Green City Estate which will be fully flagged off in August, currently houses a number of two to three bedroom apartments spread over three bays, just as duplexes are also been developed. Apart from the planned modification of the existing structures to meet the green city codes, the management of the city plans to develop additional 140 future homes within the next 12 months.

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PwC Report: Real Estate Contribution to GDP Target N2.7tr by 2016

PricewaterCoopers (PwC) has projected the contribution of real estate to the country’s Gross Domestic Product (GDP) to grow by almost N3 trillion in 2016.

The accounting firm however said this is dependent on the right environment, which include adherence to global best practices in the sector, transparency and timely delivery on project execution, among others. The sector currently contributes about N1.8 trillion to the GDP.

“Going by PWC revelation and the quest to meet the vision 2020 target, a lot needs to be done towards improved public infrastructure to drive the required positive change in the real estate and facilities management industry, in addition to improving the living condition of the average Nigerian.

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