LAGOS-BASED property development firm, Messrs CMB Building MaintenanceandInvestment Company Limited,has launched its maiden edition of Property Digest, a journal that will provide information to the real estate sector.Coming as a quarterly journal, articles in the maiden edition include,the big role of property managers, the Lekki Concession Company Limitedproject,stakeholders Viewpoint, the real perspective of the global economic crisis, real estate investment and China's boomingbuilding materials market as well architectural trends and building technology.According to the company's managing director, Mr. Kelechukwu Mbagwu, Property Digest 'is aimed at informing the general public of the happenings within the property industry, offer an insight into major stakeholders' opinion on the industry as well as provide a road map into investing in real estate to the future.'The property sector in Nigeria has been recently revamped with the emergence of a new crop of private developers around the country, despite this, the yawning gap between supply and demand is still alarming proportions, prompting an intervention from all the different stakeholders in the industry.'The government has continually reiterated its readiness to implement schemes to alleviate this problem although much is left to be seen in the actual sense,' he said.Mbagwu noted that in developed economies, real estate has been touted to be the most reliable forms of investment often turning over the highest rate of returns; however, in Nigeria, the sector is seen as being characterized by volatility, which .has made conservatives wary of investing in the industry. He said that lack of information has caused inaccurate perception in the industry.For a renowned architect, and Principal of Godwin, Hopwood, Kuye Architects, Prof. John Godwin who reviewed the journal, the greatest challenge for the management of Lagos and other cities is making it's running costs affordable and compatible with the earning capacity of it's citizens.He said that the publication is part of CMB's effort to bring good quality domestic building into the domain of a sound investment policy. 'In promoting this digest, CMB brings to you not only examples of their own developments but those of others whom they think meet the criteria for excellence and sustainability. Also they will be bringing to you new solutionsand concepts in property developments around the world including updates on climate change, which are about to revise thoughts on re-planning Lagos.'Godwin said: 'CMB already is looking at under developed areas near to the Central Business District such as Ebute Metta and Yaba to provide less costly solutions for accommodation, particularly suited to the middle classes now making a come back after having Bernard almost wiped by discriminatory regimes in the days of military rule. With this in mind, perhaps, the costly reclamation of Eko Atlantic City, with it's attendant access and infrastructural problem, is inappropriate.
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