Real Estate

New York's $500k a Month Rental

It's no secret that Manhattan rents are expensive. But the most expensive rental in the city will set you back a whopping $500,000 a month, CNN reports.

The six-bedroom apartment spans 4,786 square feet and takes up the entire 39th floor of The Pierre Building on the Upper East Side.

The unit also comes fully furnished and offers 360-degree views of the city.

"The views are the very best you will ever have in an apartment on Fifth Avenue," said listing agent Andres Perea-Garzon at Compass.

Fuller Foundation Constructs Residential Houses for Low Income Earners at ₦1.6m

The Millard Fuller Foundation (MFF), a Non-Governmental Organisation, said it had constructed residential houses for low income earners resident in the FCT and its environs.

Sam Odia, Chief Executive Officer of the foundation, made the disclosure on Friday in Abuja while briefing newsmen on the campaign of the NGO called ``My Fuller My House.”

According to him, the campaign is aimed at servicing low income earners and bridging housing deficit in the FCT.

Lekki Free Zone Aims High

Lekki Free Zone near Lagos looks to offset some of the difficulties of investing in Nigeria by offering a safe, self-contained environment with varying tax and bureaucracy benefits. Chinese interest has been particularly strong so far, but the zone’s authorities are keen to attract investors from all over the world.

Engineer Urges Lagos Residents to Obtain Building Approvals

The Chairman, Apapa Chapter of the Nigerian Society of Engineers (NSE), Ola Taiwo, has called on Lagos residents to always obtain proper building approvals to help avert fire outbreaks.

According to Taiwo, the lack of proper approval and lack of fire sprinklers in building, as recommended by the government, have caused several avoidable fire outbreaks.

“What I will just implore our people to do is to ensure that they have proper building plans approved by the state government.

Bridging Housing Deficit in Nigeria via Housing, Mortgage Initiatives

By most accounts, shelter and food are the predominant needs of man.

However, observers insist that many Nigerians are still lacking decent accommodation in spite of the designed efforts of the government to provide shelter for the citizens, the News Agency of Nigeria reports.

For instance, the Federal Mortgage Bank of Nigeria (FMBN) initiated the National Housing Fund (NHF) scheme to facilitate the provision of houses to Nigeria and bridge the housing deficit in the country.

LafargeHolcim Sees ₦9b Savings in Nigeria by 2018

Lafarge Africa expects to generate cost saving synergies of 9 billion naira ($46 million) over the next three years in Nigeria, after its parent firm agreed to merge its business with Holcim in a plan to create the world's biggest cement maker, it said.

According to Reuters, Switzerland's Holcim and France's Lafarge agreed terms for their plan to create the world's top cement business in February.

Expert Calls for Enforcement of Town Planning Regulations

Femi Olomola, President of Nigerian Institute of Town Planners (NITP), has called for enforcement of town planning regulations for well-organised settlements in Nigeria.

Mr Olomola, who made the call in an interview with the News Agency of Nigeria on Monday in Lagos, said that a consortium of professionals from both public and private sectors could do the enforcement based on specific modalities.

Dangote to Build Cement Plants in 18 African Countries

The Chief Executive, Dangote Industries Limited, Aliko Dangote, has said the firm would build cement plants in 18 African countries, including Nepal in Asia to make the continent import-dependent free.

A statement by the company yesterday said Mr. Dangote made the announcement at the commissioning of 3.0 million metric tonne per annum (MTPA) cement plant at Mgao Village, Mtwara, Tanzania.

He said the entire Africa firms, which would produce more than 80MTPA of cement, was to make Africa an export continent rather than import-dependent.

Lafarge Nigeria Unit Takes Control of United Cement

An affiliate of Lafarge Africa has completed a 100 percent acquisition of Nigeria's third-largest cement manufacturer United Cement Company of Nigeria (UNICEM), the local unit of the French cement maker said on Monday.

Lafarge did not disclose the purchase price. It said its affiliate Nigerian Cement Holdings (NCH), owned a 70 percent equity in UNICEM before agreeing a deal last November to buy the remaining 30 percent stake from Flour Mills.