Archives: 11/10/2024

The Real Estate Discussions and Awards (REDA) 2024, organized by Thinkmint Nigeria, wrapped up with great success, further establishing its status as a leading event within Nigeria’s real estate sector. The event took place at the esteemed Eko Hotel and Suites in Victoria Island, Lagos, gathering a wide array of industry professionals—from veteran developers and investors to rising talents and government representatives.

This year’s theme, “Navigating Change in Real Estate for a New Era,” struck a chord with participants, addressing the rapid evolution of the industry in response to technological innovations, changing market conditions, and the surge in urbanization.

Notable figures graced the occasion, including His Excellency, Mr. Babajide Olusola Sanwo-Olu, the Executive Governor of Lagos State. Although he was unable to attend personally, his message was delivered by Barr. Barakat Odunuga-Bakare, his Special Adviser on Housing. Other prominent speakers included Imo-Abasi Jacob Snr, Chairman and MD of Ibom Air and the Akwa-Ibom Investment Corporation, who represented the Governor of Akwa-Ibom State, His Excellency Pastor Umo Eno; Mayor Dele Oshinowo, Executive Chairman of Agboyi-Ketu LCDA, Lagos; and Mr. Akin Opatola, President of FIABCI-Nigeria. Their keynote addresses provided invaluable insights and set the stage for meaningful discussions about the future of real estate in Nigeria.

Governor Sanwo-Olu pointed out that the ongoing transformations in Lagos—driven by technology, evolving market trends, and an increased focus on sustainability—are fundamentally changing the landscape of the built environment. “These changes bring both challenges and opportunities, and I firmly believe that the REDA forum presents a platform for us to explore how we can advance together,” he stated.

He also underscored the importance of environmental sustainability in real estate. He noted that fostering green building practices and investing in flood defenses, particularly in coastal areas like Eko Atlantic City, reflect his administration’s commitment to addressing environmental challenges and climate risks as part of a long-term strategy for Lagos.

Emphasizing the interconnectedness of aviation and real estate, Imo-Abasi Jacob Snr highlighted that enhanced air connectivity can drive economic growth, attract investments, and elevate property values in targeted regions. He explained that Akwa-Ibom’s economic vision is to boost traffic into the state and improve accessibility through better road infrastructure. He also called for government reforms in land use, infrastructure development, and affordable housing initiatives to stimulate growth in the sector.

In his opening remarks, Hon. Joseph Ayodeji, MD/CEO of the Lagos State Development and Property Corporation (LSDPC), a partner organization for the event, stressed the need for critical thinking and collaboration among real estate stakeholders to navigate the changes in the global marketplace. He highlighted the importance of innovative solutions and methodologies in construction and real estate technology.

Keynote speaker Akin Opatola spoke on the theme “Real Estate as a Service: From Product and Space to System and Service.” He addressed emerging trends such as technological advancements, sustainable development, and the growing demand for mixed-use developments. Opatola encouraged attendees to embrace change as he advised, “Change happens, anticipate it, monitor it, adapt to it, and enjoy it.”

Mayor Dele Oshinowo focused on the role of partnerships between the government and the private sector in addressing housing challenges. He articulated the mutual benefits of collaboration, including enhanced efficiency, shared risks, and improved access to resources. “Government-private sector partnerships signal a new era in urban development and housing solutions. By aligning public sector goals of social equity with the private sector’s innovative expertise, we can reshape housing markets and enhance the quality of life for millions,” he said.

Mrs. Imelda Usoro Olaoye, Managing Partner at Thinkmint Nigeria, discussed the growing influence of technology in the real estate industry, highlighting how digital tools can enhance property management, marketing, and customer engagement, thus improving efficiency and enriching the customer experience.

The event featured a series of panel discussions, workshops, networking opportunities, and exhibitions from organizations such as MGE Realty, Family Homes Funds, HomeWork Group Africa, Rebar Perfecta, Terra Developers, and Facibus Housing. These activities provided a platform for investors and real estate enthusiasts to gain critical insights into various sectors of the real estate landscape, including affordable housing, sustainable development, and emerging technologies.

REDA 2024 also celebrated outstanding achievements in the real estate industry through its prestigious awards ceremony, recognizing individuals and organizations that have made significant contributions to innovation, sustainability, and ethical practices within the sector. This recognition not only served as an inspiration for others but also underscored the importance of excellence in the field.

On October 9, during a press conference, a spokesperson for the Chinese Ministry of Commerce addressed the recent anti-dumping measures imposed on imported brandy from the European Union. According to the spokesperson, these actions are fully compliant with World Trade Organization (WTO) regulations.

The Ministry recently announced that starting from October 11, any importers bringing in brandy from the EU will be required to provide a corresponding deposit to Chinese customs. Reports have indicated that the EU plans to lodge a strong complaint with the WTO regarding these anti-dumping measures.

In response to inquiries, the spokesperson clarified that this decision was made following a legitimate investigation initiated by domestic industry request, and serves as a necessary trade remedy.

Previously, China had already filed a lawsuit with the WTO concerning the EU’s anti-subsidy measures against Chinese electric vehicles. The spokesperson noted that the EU’s investigation into subsidies for Chinese electric cars was not prompted by any industry request, highlighting that there is considerable opposition among EU member states and their industries towards this initiative.

According to the spokesperson, the EU’s measures lack factual and legal foundations, clearly violate WTO rules, and are essentially a guise for trade protectionism under the pretext of trade remedy.

The spokesperson reiterated China’s consistent stance against the misuse of trade remedy measures and urged the EU to promptly rectify its erroneous policies, emphasizing the importance of jointly maintaining healthy Sino-European trade relations.

BEDFORD –Police in Bedford are on the lookout for a man they say forced his way into a woman’s home.
She was later found dead.
A CBS News Texas crew was on the scene Saturday as police returned to the home to investigate.
Neighbors in this quiet community say they’re in shock after their neighbor, an elderly woman who lived alone on Meadow View Lane, was found dead in her home on Friday.
“It’s shocking to say the least… like you said it happened right across the street,” neighbor Tyler Enloe said.

Bedford police say they don’t know how the woman died but surveillance video shows a male suspect, possibly wearing a wig, knocked on the victim’s front door on Thursday. Police say the woman answered and spoke to the suspect who asked to use her phone. When she said no, police believe the suspect forced his way inside. Surveillance video doesn’t show what happened inside the home, but police say the suspect left a few minutes later. And police haven’t found him yet.
“Definitely uneasy. I know the police are doing all they can,” Enloe said.
Enloe, who lives across the street from the victim, says his wife heard a scream on Thursday night.
“We were just like ‘What, what could that have been?'” Enloe said.

Police only discovered the victim’s body after getting a call on Friday afternoon about an unconscious person in a home. Enloe shared his ring camera video, which captured a scream, with police as they continue to investigate. He’s also wondering why the suspect chose his neighbor’s house over his or others on the quiet street.
“You do consider yourself lucky considering the proximity to us,” Enloe said. “It’s just one of those things. It could’ve been our house. You just never know.”
Police have not yet shared the victim’s identity. They’re asking residents to remain vigilant. They say you should never open the door to someone you don’t know, especially if you’re home alone. And if you see anyone suspicious, they say you should call 911.

Concerns are heightened across the United States as the East Coast experiences an unexpected outbreak of measles.
A CBS News investigation revealedthat at least 8,500 American schoolsare at risk of similar outbreaks as vaccination rates drop below the Centers for Disease Control and Prevention’s recommended 95% for student bodies, hundreds of which are located in California.
AP While it’s up to the parents to immunize their child based on medical recommendations, schools across the country are required to keep track of student’s immunization records, including the Golden State.
As many as 350 Southern California schools that do not meet the recommended threshold to prevent the unwanted return of measles based on the investigation, troubling numbers that are at the top of mind of many local medical professionals.
Dr. Steven Nishibayashi, a former pediatrician, recalls his own battle with the illness when he was just five years old.

“It’s one of my earliest memories,” he said. “The fever and the cough and the itchy rash. … I vividly recall the night that my fever was high, the spiders were attacking me, and it was as real as I remember it to be.”
Now, more than 60 years later, the memories still linger, even though he knows it was just a hallucination.
“At the moment it was very, very scary and frightening.”
He used the terrifying experience to motivate his professional passion, turning his career goals towards medicine.

“It was a constant reminder of my motivation to become a pediatrician,” he said. “To prevent preventable illnesses.”
Over the course of his career, Nishibayashi expects that he saved thousands of children from suffering with measles, which can sometimes turn fatal.
A new vaccine was supposed to make measles completely preventable by 1963, leaving the illness in the past. However, what were once absolutes on the truth behind vaccinations have turned into doubts.
A series of sudden outbreaks have led measles to find its way back into headlines, most recently in Philadelphia.
Nishibayashi says that each of the positive cases in Philadelhpia occurred in unvaccinated people. He says that California is not exempt from suffering a similar fate.

In California, the state tracks vaccinations, requiring them for students before they start kindergarten. Schools themselves must also keep records by law.
However, the California Department of Public Health is now auditing 450 schools for not meeting the 90% threshold of fully-vaccinated students, 195 of which are specifically for measles, a tenth of which sit under 75%.

Two of those schools have a 0% vaccination rate, while another sits at just 9%.
“It could spread really quickly if we don’t have herd immunity,” says Nava Yeganeh with the Los Angeles County Health Department.
She says that 95% of students have to be vaccinated in order to reach herd immunity that would prevent a large outbreak, and that numbers below that line is dangerous.
Hundreds of Southern California schools below thresholdOf those schools currently below the recommended level, 50 are located in Orange County, 41 in San Bernardino County, 32 in Riverside County and 18 in Ventura County.
Data shows that 209 schools in Los Angeles County are below herd immunity, 61 of which are within the jurisdiction of Los Angeles Unified School District.
“There’s again these pockets we’re seeing where the rates are lower,” Yeganeh said. “We’ve identified them and mapped them out.”
The Department of Health’s numbers are lower, even though they include day care centers in their analysis.

“We have about 80 less, are less than 90%,” Yeganeh said, something that they are trying to address.
Getty Images Data from Oct. 2021 to March 2022 shows that Los Angeles’ Art in Action Community Charter School only had 70% of their students vaccinated.
Jamie Kikuchi, a teacher at the charter school, says that 70% is not accurate to what they report. School data shows that their current vaccination rate is currently at 98.6% a jump from the 98.4% in 2023.
“We have a very thorough student enrollment registration process,” Kikuchi said. “We have all the families submit vaccination cards. … Students are not allowed to register unless they fulfill that. So, under 70%, I’m not sure where that data is coming from. If it’s coming from the state, it might be that the data is off or that there’s an error in reporting.”
The state later confirmed that the school reported 70% for the 2021-22 school year and the charter clarified that there were paperwork issues that prevented them from reporting anything higher at the time.
Yeganeh says that while it’s law to get vaccinated in order to attend school in California, it falls on schools to track those numbers and ensure that their students stay up to date.
When asked if schools just aren’t doing the job, Yeganeh said that there “may just be a lack of resources.”

She did say that the health of many children is at stake.
“I definitely am worried,” Yeganeh said on a potential outbreak. “I think we really need to do whatever we can.”
The CDC says that death from measles is rare, with the rate sitting at one in every thousand.
LAUSD’s chief medical director was unavailable to speak about the district’s vaccination rates, and requests from KCAL have not yet been answered by district officials.
When contacted, schools in every county that showed low vaccination rates reported that their numbers were corrected as soon as they were notified.
Concerned parents can request vaccination numbers from their children’s schools.

On October 8, the 27th Beijing International Music Festival premiered a commissioned new work titled “Nine Songs: Everlasting Love” at the Poly Theatre. Conducted by the Music Director of the Guangzhou Symphony Orchestra, Huang Yi, the concert featured the fantasy piece “Everlasting Love” and the concerto “Nine Songs,” showcasing a dynamic fusion of Western classical music’s grand romanticism and the deep lyrical essence of Chinese folk music.

The “Nine Songs” draws its inspiration from the ancient poet Qu Yuan’s “Chu Ci,” a hallmark of classical Chinese literature. Commissioned by the Beijing International Music Festival, Chinese-American composer Zhou Long created a large symphonic epic consisting of eleven movements in 2013. Building upon this symphonic framework, Zhou has reimagined “Nine Songs” as a concerto for erhu and orchestra in collaboration with the Guangzhou Symphony Orchestra, Shanghai Symphony Orchestra, and the Beijing International Music Festival.

Zhou explained that this version centers around the expressive tones of the erhu, maintaining the eleven movements while weaving the literary imagery of the original text into the poignant melodies of the erhu. The piece balances both classical and contemporary elements, elegantly capturing poetic rhythms that evoke a range of emotions. Throughout the movements, specific Western instruments are paired with characters and themes from mythology, bringing to life vivid musical representations of deities and legendary figures such as the Cloud God, Xiang Jun, and more. “The erhu is not just an instrument; it is a time-traveling storyteller that narrates the tales within ‘Nine Songs’ through its unique timbre and expressiveness,” Zhou remarked.

Erhu performer Lu Yiwen expressed that this work is both a significant challenge and a source of unique allure. “Different movements interact with various Western instruments, creating a dialogue that reflects both resonance and contrast, ultimately achieving a harmonious integration,” Lu stated.

The concert also featured “Everlasting Love,” composed by Swiss composer Richard Dubugnon. This work, which explores themes of life, love, and eternity, is imbued with a sense of freedom and joy. Commissioned in 2018 by the Beijing International Music Festival in collaboration with several institutions, it had its world premiere in Australia. Notably, the same internationally renowned musicians, pianist Jean-Yves Thibaudet and cellist Gautier Capuçon, performed at this premiere and returned for the current concert. Coincidentally, “Everlasting Love” is also structured in eleven segments, each with distinctive rhythms and atmospheres, showcasing a variety of musical emotions and imagery.

Since initiating its commissioning model in 2001, the Beijing International Music Festival has consistently collaborated with renowned composers from China and abroad, enriching the landscape of Chinese music and garnering greater respect and attention for Chinese culture on the international stage. Yu Long, chairman of the festival’s artistic committee, emphasized the importance of promoting China’s finest composers and works globally, marking a significant step in the dialogue between Chinese music and the wider world.

Saturday was another stunning day, and Sunday looks pretty decent as well.
Saturday night weather CBS New York For tonight, skies will remain mostly clear, and temperatures will be quite comfortable.
Lows will range from the low 60s in the city, while many of the suburbs will drop into the 50s.
Sunday weather CBS New York Those clear skies will last into the early portion of Sunday, however, a gradual increase in clouds is expected as the day progresses
CBS New York Despite increasing cloudiness, conditions will still be great for many outdoor activities such as going to the beach or attending the Queens Pride Parade. Highs will reach the low and mid 80s.
CBS New York A slight chance of rain returns mainly for our northwestern zones very late on Sunday night. It is very likely that the majority of the region will remain rain free for the entire weekend though. This would make it the second consecutive weekend in a row without rain.
CBS New York With the majority of weekends since March 1 seeing at least some rain, this is a welcome change.

Monday weather CBS New York Sunday’s late-night showers will linger into Monday morning.
First Alert Weather mapsLive Tri-State Area radarLive Long Island radarLive NYC northern suburbs radarLive Jersey Shore radarTri-State temperatures

NEW YORK — New York’s legislative session came to an end Friday without finding a plan to fund critical MTA projects that were depending on money from congestion pricing.
State Senate Majority Leader Andrea Stewart-Cousins says the Legislature will end its session, but not vote on a possible payroll tax on businesses or any other proposal to help fund the MTA.
“I will not be back tomorrow … Our conference was not comfortable within the time frame to commit to the tax without some understanding about congestion mitigation and how that was going to proceed,” she said.
If Gov. Kathy Hochul can come up with a deal the Legislature approve, she would have to call them back for a special session.
The MTA needs $15 billion in funding to make necessary upgrades and fixes to the subway system and continue projects like the Second Avenue Subway expansion in East Harlem.

MTA Chief Financial Officer Kevin Willens and MTA General Counsel Paige Graves released the following statement Friday night:
“This week’s announcement regarding the future of congestion pricing has serious implications for the MTA’s 2020-2024 Capital Program and likely other aspects of the agency’s financial condition. “The MTA cannot award contracts that do not have a committed, identified funding source. Until there is a commitment for funding the balance of the 2020-2024 Capital Program, the MTA will need to reorganize the Program to prioritize the most basic and urgent needs. “As such, the MTA Board will be evaluating what changes need to be made to the Capital Program in the lead-up to this month’s Board meeting. Modernization and improvement projects like electric buses, accessible (ADA) stations and new signals will likely need to be deprioritized to protect and preserve the basic operation and functionality of this 100+ year old system. “New York State law places an obligation on MTA to implement a congestion pricing program, and the agency stands ready to do so. But under applicable federal law and regulation, the MTA cannot act until the Central Business District Tolling Program is approved by New York State, New York City and the federal government – and with the announcement of the pause, we no longer have the State’s consent.”
When Hochul announced she was postponing congestion pricing indefinitely, she promised the state had “set aside funding to backstop the MTA capital plan” and was exploring other funding sources.
Sources tell CBS New York political reporter Marcia Kramer the governor was offering to sign bills she had initially been opposed to in an attempt to get lawmakers to bail out the MTA.
The governor proposed a new payroll tax, but lawmakers rejected it. They also considered a plan called the “IOU Bill,” which would have had the state pledge to back $1 billion worth of MTA bonds without identifying where the money would come from. The bill would have allowed the MTA to sell bonds that would fund critical infrastructure projects.

Gov. Hochul defends congestion pricing delayThe governor spoke to reporters Friday evening to address the end of the legislative session and defended her decision to delay the program, saying it was “about protecting working and middle class New Yorkers” who couldn’t afford an additional $15 daily toll to get to their jobs.
Hochul said her decision to push back the program less than a month before its launch came after hearing from New Yorkers who expressed their concerns.
“Leaders sometimes need to listen more, and I realize that. As this date got closer and I’m out there in the community all the time … I cannot tell you the anxiety level that is continuing to go up and up and up. It wasn’t out there before. But I, as the governor, have this ability to have a real pulse on what New Yorkers are thinking … so I absorb that and I say, can I really go forward right now, when we thought that inflation would be lower, we thought that people would feel more secure about going on the subways? Yes, yes, we’re coming back, but we can’t afford a setback,” Hochul said.
Hochul stressed that the program has been postponed, not cancelled.
“This is on pause. Yes, it is on pause. I don’t know how to define ‘pause’ other than it’s a pause, meaning it’s not happening June 30th, therefore it’s paused,” she said.
She did not offer a timeframe for when the program could potentially start.
Hochul said that she will be working with MTA leaders to find short-term funding for its projects.

“Because when you think about it, the revenues from congestion pricing would not have really accrued until much later. I mean, a year from now, we’d be looking at the money that was expected, so that’s why we don’t need to take immediate action,” Hochul said.
She added, “The MTA will be taking necessary action to reflect a pause in this program.”
“No one can question my commitment to the MTA … but now is not the time to put it on the backs of hard-working New Yorkers who are still feeling the cost of inflation in their pocketbooks, an issue that was not there even a few months ago, as we thought the numbers were going to improve. That’s why I changed,” Hochul said.
Litigation in the works to sue Gov. Hochul over congestion pricing delayA number of lawmakers have said publicly that the governor’s decision to put the brakes on congestion pricing was illegal because it was a bill that was passed by the Legislature and signed, and Kramer has learned that litigation is in the works to sue Hochul and force her to revoke her decision.
If the suit is successful, the governor will have to allow congestion pricing to start.