Browsing by Author "Ogunbajo Rukayat Adeola"

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Assessment of Public Real Estate Investment Performance in North Central Nigeria: A Literature Review
(School of Environmental Technology, Federal University of Technology Minna, 2024) Dodo Zakari U; Nuhu Mohammed Bashar; Ogunbajo Rukayat Adeola; Ayoola Adeyosoye Babatunde
This paper examines the performance of public real estate investments in North Central Nigeria, focusing on their impact on economic development, infrastructure, and social welfare. A comprehensive literature review was conducted, drawing from recent studies on public real estate investment in developing nations. The methodology is a systematic literature review to assess the performance of public real estate investments in North Central Nigeria. Academic journals, government reports, and conference proceedings from the past decade were reviewed to gather relevant information on the subject. A search was conducted using keywords such as "public real estate investment," "North Central Nigeria," "housing development," "infrastructure," and "economic impact." The findings highlight how public real estate investments contribute to job creation, housing development, and infrastructural improvements. However, significant challenges such as inequitable housing distribution, limited access to amenities, and inefficient planning remain. The paper provides insights into how these investments can be better aligned with community needs for improved social and economic outcomes.
Critical Factors Contributing to Rent Arrears in Residential Properties in Minna, Nigeria
(European University of Lefke, Cyprus, 2018) Kemiki Olurotimi Adebowale; Ayoola Adeyosoye Babatunde; Ojetunde Ismail; Ogunbajo Rukayat Adeola; Kuma Shien Stephen
Optimum return appears to be a tangible motive of investors of real estate investments. This motive over the years has been bedevilled by rent defaults by renters of properties in the property sector. This situation, to Property Managers and their Principals is worrisome. It is on this basis that this study attempts to assess the factors influencing rent arrears in Minna residential property market. The study employs data on various aggregate factors such as management subsystem, economic factors, tenancy arrangement, dwelling unit features and external household attributes influencing rent payments. Cluster random sampling was used to administer questionnaire to renters of residential properties in Minna while simple random and purposive sampling techniques were used to administer questionnaires to property managers. Kendall Coefficient of Concordance and Chi-Square were statistical tools used. The result revealed that W = 0.601 which indicated a statistical evidence of a fair association in the ranking of the factors responsible for rent in arrears, while the average rank correlation of factors between all possible pairs of the towns rs = 0.521 indicating a weak agreement to the identified factors. There was evidence of variation among the factors responsible for rent arrears across the areas and the study also found there is no relationship between income level of renters and type of residential accommodation occupied. The implication of the study is that renters develop practical habit that discipline their finances and prioritize the scale of preference to live below their income level.
The Contributory Effect of Externalities to the Void Periods for Residential Buildings in Minna, Nigeria
(School of Environmental Technology Federal University of Technology Main Campus, Gidan Kwano, Minna, Niger State, Nigeria, 2018) Ogunbajo Rukayat Adeola; Adewusi Amos O; Usman Bello Sahad; Ayoola Adeyosoye Babatunde
A number of residential buildings have been observed to suffer longer void periods in recent times despite the increasing demand for residential accommodation across urban areas. Landlords and real estate investors are sometimes faced with the challenge of replacing tenants within the shortest possible time, thus being unable to adequately recoup the invested capital on residential properties developed in particular neighbourhoods. This study provides evidence on the contributory effect of externalities on the void period for residential buildings in Minna. The sample for the study constituted a total of 207 three bedroom bungalows which fell into void at any point between January 2014 and December 2016 – covering a three year period. Adequate data were provided for 144 of these dwellings which spread across nine neighbourhoods, representing 70% response rate. Data were sourced from practicing estate surveyors & valuers, and estate agents in the study area, as well as occupants of housing units that fell within the sample. The sourced data provided information on the void periods of sampled dwelling units as well as required information on selected externalities. Collated data were analysed using the optimally scaled categorical regression analysis. The regression model explained 51% of the total variation in the void period of residential buildings. Findings revealed that the void periods of residential buildings reduced with closer distances to shopping centers, recreation centers, major roads, and improved electricity supply. On the contrary, educational institutions, health care centers, refuse dumps, security and sources of water supply were found not to have significant contributions to the void period of three bedroom bungalows in the study area. The study recommended that real estate investors’ should be mindful of externalities in an area before embarking on real estate developments in order to ensure satisfactory returns on their investment.