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Lamudi, PwC Align on $13.65Bn Real Estate Market Prediction for 2016

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Akua Nyame-Mensah, Managing Director of Lamudi
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Lamudi Nigeria said that 2015 was an interesting year for real estate in the emerging markets.

According to the platform, while there were a number of challenges as a result of fluctuating oil prices, currency stability, and changing investment laws, a new year brings new, exciting prospects.

But what will the next 12 months hold for developing countries and their real estate markets?

As 2016 gets underway, number one real estate platform Lamudi Nigeria explores the real estate markets to watch this year.

Lagos, Nigeria
According to PwC, the Nigerian real estate sector is expected to be valued at $13.65 billion in 2016, compared to the value of $9.16 billion in 2014.

The report further states that the real estate sector is the largest in the economy, where the sector accounts for 7.6 percent of the country’s GDP of $509.9 billion.

With a growing population, the Nigerian government has launched the Nigerian Mortgage Refinance Corporation (NMRC) in 2014 aiming to provide affordable mortgages for Nigerians.

Between 2015 and 2016, Lagos, Abuja and Port Harcourt are expected to erect over 10 skyscrapers valued at over N500 billion.

Nairobi, Kenya ‎
Kenya has made a name for itself in the startup and technology sectors; Nairobi has become a hub for global and local corporations looking to enter these booming industries and take advantage of the opportunities East Africa has to offer.

As a result, the commercial and residential real estate markets are booming. Industry professionals expect this to continue in 2016. While international entrepreneurs are settling in Kenya’s capital, population growth is also expected to boost the city’s real estate market in 2016; as more Kenyans enter the job market and disposable income increases, we can expect more money to be spent on housing.

Quezon City, the Philippines
By 2025, Quezon City is expected to have a population of almost four million.

Metro Manila’s largest and most populous city had the greatest volume of online search traffic between January and June 2015, according to Lamudi’s onsite data. Search volume for the city grew, on average, 22 percent per month during the same period.

The online real estate platform’s data also reveals the city has the most affordable office space to rent, with an average price of Php503.79 (USD 10.73) per square meter per month.

Mandalay, Myanmar
Tourism is booming in Myanmar. At the end of 2015, the Ministry of Hotel and Tourism announced plans to attract 7.5 million tourists to the country by 2020, with a seven-year master plan.

As a result, Myanmar’s second city – Mandalay – is improving its infrastructure, and welcoming the construction of both small, independent and high-end hotels.

Housing in the city is much cheaper than in Yangon, however residential and commercial real estate is in short supply.

As the number of tourists to the city increases, it is expected to undergo significant development to improve the real estate options available to visitors.

Riyadh, Saudi Arabia
This year will see the construction of a $320 million mall in Riyadh.

The project will include office space, retail units, restaurants, and a boutique hotel, as well as recreational areas.

The Riyadh Walk will cover 137,000 square meters of Saudi Arabia’s capital city and is considered to be a step forward in upgrading the country’s commercial mixed-use projects.

Construction is expected to boost Riyadh’s commercial real estate sector, and lead to the development of more residential, commercial and industrial properties.

Kandy, Sri Lanka
The removal of land lease tax in Sri Lanka is expected to encourage non-nationals to invest in the country’s growth and development outside Colombo.

As Sri Lanka’s first ‘Smart City,’ Kandy is expected to welcome an increased number of international corporations, entrepreneurs, and startups, eager to invest in the city’s growth.

Consequently, the property sector is forecast to go from strength to strength over the next 12 months.

Furthermore, the continued development of the Colombo-Kandy Expressway is expected to transform the city into a hub of activity, which will likely result in a surge of real estate activity.

Casablanca, Morocco
In 2015, Morocco ranked eighth in Cushman & Wakefield’s list of top emerging markets in the world.

According to the report, the country was among the top 10 with the lowest risk to invest and open a business in real estate.

Casablanca, considered the country’s economic capital, is experiencing stable rents, increased supply, and the development of large-scale commercial and office projects.

The city shows great potential for both tourism and business, with the amount of office space expected to double in the next four years.

Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 34 countries in Asia, the Middle East, Africa and Latin America, with more than 800,000 real estate listings across its global network.


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NDPC Commits to Balancing Data Privacy, Protection Information

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Nigerian Data Protection Commission (NDPC), has expressed its commitment to balance information around data privacy and protection.

NDPC Commits to Balancing Data Privacy, Protection Information

Dr. Vincent Olatunji, national commissioner, NDPC, stated this in Abuja, at the National Data Privacy Summit with the theme, “Privacy in the Era of Emerging Technologies,” organised by the commission.

Olatunji said the NDPC, at the moment, was looking at balancing information around data privacy and protection.

“What we are doing is just to look at how to balance information around privacy and protection, which is really important, because as we are innovating, at the same time, we have to consider issues around privacy and protection,” he stated.

He added that the commission has been very bold in taking risks that would bring about growth.

“Our starting point is growing at a very alarming rate, and we are not afraid of anything. We can take risks. And that is why a lot is happening in Nigeria, and this is the level of clarity,” he explained.

In his address, Dr. Aminu Maida, executive vice chairman (EVC) of the Nigerian Communications Commission (NCC),  stated that Internet of Things holds promise for Nigeria’s economy.

The EVC, who was represented by Abraham Oshadami, executive commissioner, Technical Services (ECTS), noted that, “in an era in which digital assets, Internet of Things, future digital computing and other transformative technologies are key, and both a cornerstone of building trust for the adoption and a prerequisite for sustainable progress.

“Emerging technologies hold immense promise for Nigeria’s grand economy, but they also introduce complex risks to personal and individual rights.

“So, balancing innovation through post-ethical safeguards and public trust is the first step to ensuring that global digital advancement benefits all Nigerians without compromising their privacy or their security,” he added.

“As we just heard from the Nigeria Police, telecom operators have a vast amount of sensitive historical information daily, including connectivity apps and collaboration on privacy, security, and number protection, both to their and their inheritors,” he said.

Dr. Bako Shurkuk, commissioner for Science, Technology and Innovation, Plateau State, who represented Caleb Mutfwang, Governor of Plateau State, said, emerging technologies can be harnessed to attain sustainable growth.

 


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OADC Lagos Reinforces Commitment to Local Data Hosting and Digital Transformation @ NDPC’s National Privacy Week Summit

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Open Access Data Centres (OADC) Lagos has reaffirmed its commitment to Nigeria’s data protection and digital transformation agenda through its sponsorship and active participation in the Nigeria Data Protection Commission’s (NDPC) National Privacy Week Summit.

The National Privacy Week Summit, organised by the NDPC, convened policymakers, regulators, technology providers, and industry stakeholders to promote data privacy awareness, strengthen compliance with the Nigeria Data Protection Act (NDPA), and advance conversations around data security, sovereignty, and responsible data governance.

As a sponsor of the event, OADC Lagos demonstrated its continued support for the Federal Government’s drive toward local data hosting and data domiciliation, which are increasingly critical to safeguarding sensitive information, enhancing regulatory compliance, and building trust in Nigeria’s digital economy.

Through its carrier-neutral, Tier III Design certified data centre in Lekki, Lagos, OADC provides secure, resilient, and compliant infrastructure that enables government institutions and private sector organisations to host and manage data locally while meeting international best practices.

Commenting on the engagement, Adesola Adesugba, Country Marketing Manager, Open Access Data Centres Nigeria, said: “We are proud to have supported the Nigeria Data Protection Commission through the National Privacy Week Summit and to stand alongside the government in advancing Nigeria’s digital transformation objectives.

“Strengthening local data hosting and domiciliation is fundamental to national data sovereignty, improved security, and sustainable digital growth, and OADC Lagos remains committed to enabling this future.”

OADC’s participation at National Privacy Week Summit underscores its role as a trusted digital infrastructure partner to government and enterprise, supporting secure cloud connectivity, regulatory compliance, and the long-term development of Nigeria’s digital ecosystem.

Open Access Data Centres is part of the WIOCC Group and operates open-access, world-class data centres across Africa, serving cloud providers, network operators, enterprises, and public sector institutions.


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Kaspersky Launches OT Calculator to Align Cybersecurity Investments with Business Goals

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Kaspersky’s new online tool has been specially developed for industrial organisations to assess the potential costs associated with insufficient operational technology (OT) security.

By offering detailed financial forecasts, the calculator empowers senior management to make well-informed decisions regarding security investments.

Industrial organisations increasingly depend on interconnected systems, elevating cybersecurity to a critical factor in business resilience and profitability.

According to VDC Research, over 60% of industrial companies last year reported that cybersecurity breaches had led to significant costs. Despite this, a persistent disconnect remains between security teams and executive leadership as security professionals focus on minimising risk, while executives must balance cybersecurity concerns with broader business objectives. This misalignment often results in competing priorities and underfunded security initiatives.

To bridge this gap, Kaspersky has launched the OT Cybersecurity Savings Calculator, an innovative online tool designed specifically for industrial organisations to assess the potential costs of inadequate operational technology (OT) security¹.

The primary aim of this tool is to translate cyber risks into tangible financial metrics and support strategic discussions around priorities and budget allocation. By entering details such as their sector, sub-sector, region, company size, breach history, and existing cybersecurity measures, organisations can estimate their potential cost savings and receive customised, actionable recommendations.

The calculator benchmarks performance against industry peers and highlights the company’s position within the current threat landscape.

“We believe this calculator is a powerful resource for transforming complex cyber risk data into straightforward financial insights. It enables OT leaders, security professionals, and executive teams to develop clear, data-driven business cases and recognise the value of cybersecurity investments. With actionable guidance, it promotes a comprehensive approach to resource management and strengthens overall organisational resilience,” comments Andrey Strelkov, Head of Industrial Cybersecurity Product line at Kaspersky.


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