NigeriaAfrica's Largest Economy
3203
Nigeria's GDP PER CAPITA
NIGERIA’S POPULATION: 172 MILLION (largest in Africa)
FM FACTS – Corrective Maintenance (Corrective maintenance is any maintenance performed to return your equipment to proper working order. This maintenance is required due to a breakdown or through a condition monitoring program) costs 3 to 5 times more than Preventive Maintenance (Preventative maintenance (or preventive maintenance) is maintenance that is regularly performed on a piece of equipment to lessen the likelihood of it failing. Preventative maintenance is performed while the equipment is still working, so that it does not break down unexpectedly.)
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Measurement and verification through meters can result in savings of about 15-45% on energy and water consumption costs
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Sustainable Facility Management is the future
20000
AVERAGE TOTAL SQM/MALL
20000
AVERAGE TOTAL SQM/MALL
68
AVERAGE ASKING RENTAL (Sqm/month)
55
AVERAGE ASKING RENTAL (Sqm/month)
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Victoria Island is considered as the New Central Business District of Lagos, with the lowest vacancy in the property market
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Increased supply in new Grade A office space leading to a downward pressure on rents by 4%
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Over this period, Victoria Island supplied 53,912 sq.m of purpose-built office space which makes up 64% of office space supplied into the market and it has a market share for new purpose-built office buildings at 70%. Regarding mixed-use space, it supplied an estimated 17,404 sq.m of mixed-use space into the market which makes up 69% of mixed-use space and has a market share of 67% for new mixed-use buildings.
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Similarly, Ikoyi supplied 30,600 sq.m of purpose-built office spaces which equated to 36% of office spaces supplied and it has a market share for new buildings at 30%. Regarding mixed-use space, it supplied an estimated 8,000 sq.m of mixed-use space into the market which makes up of 32% of mixed-use space and has a market share of 33% for new mixed-use buildings.
4.2
VFIX up from 165
VFIX up 4.2% from 165 in march to 172 in June 2016, A lagging indicator - yet to respond to policy changes.
65
Vacancy rate in Lekki
Lekki has the highest vacancy rate at 65%, the Ikoyi bridge being a major catalyst leading to excess development .
7
Rising Residential index
Residential index rose by 6.8% q-o-q, commercial index remained flat at 148. This reflects a slowed but continued deterioration in the real estate market.
NEW GRADE A OFFICE DEV IN LAGOS (2016) (SQM)
Ikoyi 30600sqm
Victoria Island 54000sqm
Victoria Island 13500sqm
Ikoyi 8000sqm