The recent decision by the Federal Capital Development Authority (FCDA) to increase land rents and rates will translate into higher cost of living for residents, estate managers and developers have said.

The developers have also warned that the FCDA’s action will trigger a cycle of skyrocketing rents in the city and environs, as the new rates will lead to higher charges for acquiring and developing residential and commercial houses in Abuja.

The Ministry of the Federal Capital Territory (FCT) recently announced an increment, by over 80 per cent, of all rates charged by it for processing, documentation, acquisition and development of land in the area.

ABUJA REAL ESTATE FAIR

The 5^th Abuja Real Estate Fair has just ended. It was an event for everyone and anyone that has a stake in the real estate industry.

South Africa’s Cell C launched its HSPA+ 900 MHz network in Port Elizabeth as part of its country-wide network rollout. For the moment, the city will be the only area in Africa with such network, offering peak rate download speeds of up to 21.6 Mbps.

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