Department of Estate Manangement
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Item Trends in the Residential and Commercial Property Rental Values in Ikeja Metropolis of Lagos State, Nigeria: A Comparative Analysis(Education Excellence and Management of Innovations through Sustainable Economic Competitive Advantage of 14015, 2025) Ayedun, Caleb Abiodun; Omonijo, Dare Ojo; Akinjare, Omolade Adedoyin; Olorunnishola, DAre SamuelItem USE OF EARLY WARNING SYSTEMS, A FRAMEWORK FOR SAFETY IN BUILDINGS: EMPIRICAL STUDY(International Journal of Mechanical Engineering and Technolog, 2018) Ogunde, Ayodeji O.; UGWU, Chinedu. A.; Adeboye , Albert; Oloyede, Samuel .A.; Durodola, Daniel. O.; AYEDUN, Caleb .A.The study assessed the use of Early Warning Systems [EWS] towards framework for safety in buildings: Empirical Study. Both Qualitative data and Quantitative data were obtained. The survey method was used in this study for generating data through the administration of questionnaires to both commercial and residential building occupants in Lagos state, Nigeria. . Descriptive Statistics was used for data analysis through Survey gizmo and Microsoft excel. The result showed that the implementation and adoption of early warning systems is much more economical than neglecting the systems and then paying for damages after the disaster has occurred. It concluded that the emergency escape frame work of a building will be more effective if Early Warning Systems are installed. It recommended that government should endeavour to ensure that a standard code is introduced and reviewed to ensure the incorporation of the use of Early Warning Systems. The public should be enlightened on Early Warning Systems for different types of buildings and their benefits. Moreover, some of the systems have to be implemented on a community based scale such as a flood warning system.Item Investigating the dynamics of financial risk impact on property development in Lagos state, Nigeria(4 IOP Conf. Series: Earth and Environmental Science, 2025) Oloke, Olayinka C.; Adenekan, P. J.; Nwaniocha-Emegha, C. K.; Nwanwko, C. F.. This study examines the dynamics of risks of financing real estate development in Nigeria with particular emphasis on property development projects in Lagos state, taking into cognizance the current wave of macroeconomic instability in the country. Property development companies and real estate surveying and valuation firms that are involved in property development and registered with the Real Estate Developers Association of Nigeria (REDAN) constituted the study focus. Convenience sampling technique was engaged to select 100 respondents for the administration of questionnaires and a response rate of 86% was achieved. Basic statistical tools of frequency, percentages, charts as well as principal component analysis were engaged for data analysis which was eventually presented in tables, text and charts. Findings revealed amongst others that residential property development constituted the largest portfolio of development projects among the firms while regulatory risks, financial risk and market risks constituted the top three challenging risk facing real estate development projects in recent times. The study suggests the use of foreign direct investment in the form of off-shore finance procurement and patronage. The study also recommends dedicated team of professionals to oversee and ensure necessary regulatory compliance and communication.Item Methods of Intellectual Property Valuation in Nigeria: Preference of Estate Surveyors and Values in Southwest, Nigeria(Journal of Harion Engineering University Vol. 46, No, 7, 2025) Ibisola, A. S.; Ayedun, C. A.; Oloke, O. CItem Comparative Performance of REITS and Commercial Bank Shares in Nigeria Stock Exchange(COVENANT JOURNAL OF RESEARCH IN BUILT ENVIRONMENT. VOL. XIII NO. I, 2025) UMEH, Lawrence O.; Oloke, Olayinka C.; Okonu, Ayoade A.This paper compares the performance of Real Estate Investment Trusts (REITs) and commercial bank shares from 2011 to 2020 for the purpose of providing investments with optimal performance for savvy investors. Share prices and dividends from annual reports were used to calculate income, capital, and total returns. Returns and risks were measured using Mean and Standard Deviation; while risk adjusted rate of return tool measured the general performance of N-REITs and bank shares. REITs generally underperformed, compared to commercial bank shares. Only Skye Shelter REITs excelled in income return. N-REITs were found to be less risky than commercial bank stocks, but underperformed when compared to commercial banks. Skye Shelter REITs showed highest total return; while UPDC and Union Homes outperformed Access Bank and UBA. Only Polaris, GT, and Zenith banks higher income returns from the REITs. Overall, bank shares are riskier than REITs. Bank stocks offer higher returns with greater risk, whereas REITs provide stable returns with lower volatility, which is suitable for conservative investors. In conclusion, the combination of stable returns on REITs and the volatile returns on bank stocks will reduce the overall portfolio risk. Hence, investors should consider risk management by combining investment with different risk-return characteristics.Item Assessment of Secondary Healthcare Facilities’ Maintenance Practices in Lagos State, Nigeria(DESIGN, CONSTRUCTION, MAINTENANCE, 2025) Oloke, Olayinka C.; Keziah, Nwaonicha-Emegha C.; Adenekan, Peculiar J.This study investigates the maintenance practices of secondary healthcare facilities in the study area with a view to ascertaining the prevalent maintenance approach and improve the practices. Survey design was adopted and copies of questionnaire were administered to respondents from public and private secondary hospitals. Response rate of 77.7% was achieved. Statistics tools such as mean score, standard deviation, kurtosis as well as inferential tools of paired sample t-test and pearson moment correlation were engaged for the analysis. Results were presented in charts, tables, percentages and were discussed in the light of relevant extant studies. The study observed amongst others that reactive maintenance such as periodic, corrective and condition-based maintenance methods are prevalent in public secondary hospitals while private hospitals engage preventive maintenance alongside the reactive strategies. It was also observed that there is statistically significant difference in the perception of the state of maintenance of public and private hospitals in the study area. The study advocates more use of proactive maintenance approach at both the public and private secondary hospitals in the study area.Item NEIGHBOURHOOD DEGENERATION AND ITS EFFECTS ON RESIDENTIAL PROPERTY VALUES (Case Study of New Oko-Oba, Agege Local Government Area, Lagos)(Covenant University Ota, 2012-05) OGUNSEITAN, Flourish Oluwabukola; Covenant University ProjectAlthough, there are many factors that affect residential property values in different areas of the world, ranging from social factors to institutional factors, the researcher however foc used more on how neighborhood degeneration affects residential property value in New Oko-Oba Agege, Lagos. The methodology used by the researcher is the ' lottery system' of the simple random sampling system after the researcher had distributed 120 questionnaires and was able to get 93 questionnaires back. Also, the frequency distribution tables, bar charts, relative importance index as well as Chi square test were used for the analysis of the data got. According to the summary of findings, poor waste disposal and traffic congestions are the major causes of neighborhood degeneration in the area. Finally, the researcher gave suitable recommendations and conclusions. It should be noted that this research is subject to further studies.Item Justification of quinquennial revaluation of properties for rating assessment: A case of Garki Area 2 Abuja, Nigeria(International Conference on Science, Engineering and Business for Driving Sustainable Development, 2024) Iroham, Chukwuemeka O.; Okagbue, Hilary I.; Frank-Amadi, Favour C.; Munyemana, Samuel—There is an arbitrary undertaking of the quinquennial revaluation exercise. Even though it is imposed as a legislative provision in rating assessment, the frequency of revaluation of hereditament does not appear scientific and as such cannot be justified on the grounds of re-search. This study thereby sought for a scientific justification of the regular revaluation intervals in rating assessment. The focus of study was hinged on Garki Area 2 Abuja in the Federal Capital Territory of Nigeria, noted for its consistency in rating administration. Data on annual values of the various residential property types for the years of assessment (2016-2021) were sought from the occupants from where envisaged property rates payable were determined. The use of descriptive and inferential statistics of frequency distribution, mean, variance, the Analysis of Variance (ANOVA) and a Post Hoc Fisher’s Least Significance Difference revealed that rate payments begin to show significant difference at the third year of assessment having a p value of 0.013. Hence, the study recommended that the quinquennial revaluation exercise is not justified but rather be replaced by triennial assessment amended by enabling laws which would not just hedge against administrative costs in rating assessment but ensure that loss of revenue from property rating is at least drastically reduced.Item STATISTICAL MODELING OF THE RELATIONSHIP BETWEEN CITESCORE AND JOURNAL PERCENTILES OF BUILDING AND CONSTRUCTION JOURNALS(Pushpa Publishing House, 2023) Peter, N. J.; Iroham, Chukwuemeka O.Building and construction are one of the major subject categories in Scopus, Elsevier. Building and construction journals are journals that publish articles and review papers in all areas of building, construction, structures, construction materials, civil engineering, and building and construction management amongst others. This paper proposes a modified quartile model which can be used to predict the journal percentile using the CiteScore as the independent variable. The model evaluation metrics signal a good fit and the proposed model yielded journal percentile (JP) close to the original JP. The knowledge of the CiteScore can now be used to predict the percentile and by extension, the quartile of journals in building and construction in Scopus or Web of Science.Item Three attributes determining land values in three selected housing estates in Uyo, Nigeria(Frontiers in Sustainable Cities, 2024) Iroham, Chukwuemeka O.; Okagbue, Hilary I.; Ekanem, Inimfon F.; Peter, N. J.; Samuel, Olugbemisola W.; Nto, Sunday E.; Isiaka, Saheed; Adedotun, Adedayo F.There is a knowledge gap regarding the specific attributes (location-specific, environmental, and neighborhood) that impact land value, the relationship among these attributes, and the degree of impact on the land values in residential estates in Uyo, Nigeria. The three factors all combine to create a unique picture of a place, impacting its desirability and ultimately, its land value. This study explores the relationship between various land value attributes within specific residential estates (Ewet Housing Estate, Shelter Afrique Estate, and Akwa-Ima Estate) in Uyo. A questionnaire was designed and used to solicit data from the respondents living in the three estates with the aid of the purposive sampling technique. The findings revealed the following: Closeness to school is the location-specific attribute that contributes the most to land value, and closeness to recreational centers contributes the least. The presence of security and police stations had the most significant contribution to land value, and the presence of noise in the neighborhood had the least significant contribution. Peace, quiet, and beauty had the most significant contribution to land value, and the presence of lakes and water bodies in the environment contributed the least to land value. The factor analysis yielded two major factors for location-specific attributes: ‘transport’ and ‘place’. The factor analysis grouped the neighborhood attributes into two factors: ‘easily controlled’ and ‘not easily controlled’. All three attributes of land values are positively correlated with one another. Implications for research and recommendations were made.