Programme: Estate Manangement

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Interaction of drivers and barriers of sustainable property management practice in shopping malls in Lagos, Nigeria
(Frontiers in Built Environment, 2025-01) Nyirenda, Lumbani B.; Ayedun, C. A.; Musonda, Innocent; Iroham, Chukwuemeka O.; Olukanni, David O.; Okagbue, Hilary I.; Samuel, Olugbemisola W.; Nto, Sunday E.
Extant studies on sustainable property management (SPM) are yet to be reported for shopping malls in developing countries. Shopping malls play a vital role in commercial activities in developing countries. This study investigates the strategies and the interaction of the drivers and barriers to SPM practice being adopted in the management of three randomly selected shopping malls in Lagos, Nigeria. The primary data utilized were elicited with the aid of a questionnaire served on 130 tenants of the three shopping malls. The obtained data were analyzed using statistical tools such as mean ranking, frequency distribution, exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and mediation analysis. LED energy saving bulbs (90%) and green leasing (6.9%) are the most and least adopted features while using environmental cleaning procedures (83%) and adopting green leasing (36.4%) are the top and least SPM adopted strategy. Health and wellbeing of occupants (88.4%), cost savings (87%) and regulatory requirements (85%) were ranked the top three drivers while EFA grouped the factors into 2: direct and indirect. Financial and economic barrier (4.2/5) were top while cultural factors (3.97/5) were the least. The interactions of the latent barrier factors were exposed by the CFA and mediated regression models. In conclusion, this article explored SPM within shopping mall operations, presenting evidences that, while beneficial in reinforcing the relevance of sustainability in the real estate sector, ultimately contributes modestly to the broader academic discourse on the subject.
Value Pertinence for Residential Property Investments in Christian Mission Estates: An Investigation of Canaan City in Ogun State, Nigeria
(Journal of Civil Engineering and Urbanism Volume 12, Issue 4: 61-69;, 2022-12) Akinjare, Omolade Adedoyin; Akinjare, Victoria Adeola; Ayedun, C. A.; Oluwatobi, Afolasade Olubunmi; Alexander, Matilder Nomteik
The rapid expansion and urbanization of Lagos state of Nigeria due to uncontrolled rural - urban migration seems to have succeeded in transforming the peri-urban areas of Ota, Ogun state into a mini economic hub, thus propelling property values skywards. The present study ascertains if passing rents, as well as sales value for the various apartments in Canaan city estate as charged by the project developer, is overpriced, and underpriced or fair-priced. The rental data collected from the residents of the estate were compared with rental opinion obtained from practicing estate surveyors and valuers in Ogun State. 240 questionnaires were administered to residents of the estate while 22 questionnaires were administered to registered estate surveying and valuation firms. Interviews and questionnaires were deployed to solicit data from the Physical Planning Department (PPD) being the managers of the estate. The retrieved data were then collated and presented using figures and Tables. Findings showed that the passing rents for all cadres of residential apartments in the estate were discounted with the most discounted apartment type being the 2-bedroom luxury flats and the least discounted apartment type being the 4-bedroom semi-detached houses. For sales value, findings showed that the high end apartments – the detached houses, semi-detached and also the 3- bedroom terrace houses were hugely discounted. Unfortunately, the 1-bedroom and 2-bedroom flats were the least discounted while the 2-bedroom luxury flats and 3-bedroom flats were either within range or slightly overpriced. The study concluded that the passing rents were underpriced due to the income nature of tenants and subsequently, the sales value proposed by the developer of the estate was underpriced. The study recommended an upward review of sales prices should the estate proprietor still continue with the sales of its apartment within Canaan city
Methods of Intellectual Property Valuation in Nigeria: Preference of Estate Surveyors and Valuers in Southwest, Nigeria.
(Journal of Harbin Engineering University Vol 46 No. 7, 2025-06) Ibisola, A. S.; Ayedun, C. A.; OLOKE, Olayinka C.
Estate Surveyors and Valuers (ESVs) are by laws, education and training recognised and adjudged as the most qualified professionals to determine the value of interests in property in Nigeria. In doing this, many processes and ingredients are necessary to be blended together to arrive at acceptable and market compliance value. One of such tools or ingredients are the methods of valuation adopted in the course of the valuation processes for different purposes and at a specific point in time. This study evaluates the preference of ESVs among the various methods of IP valuation in Nigeria. Total number of 247 questionnaires was used to elicit data from the practicing ESVs in Southwest, Nigeria. The data obtained were analysed with the use of Relative Importance Index (RII). It was found that the sampled ESVs preferred the use of Rule of Thumbs methods of IP valuation on the basis that the methods are very easy to use and devoid of rigorous calculations. Findings further showed that ESVs preferred the use of Discounted Cash Flow (DCF) and premium profits approaches as variants of income-based methods. The study therefore recommended the inclusion of valuation of IP in the valuation curricula of institutions offering Estate Management in the study area.

Programme: Estate Manangement

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