Megamound Investment Limited is a big brand in the Real Estate sector. It is really big, going by its huge portfolio of investments. It was set up by Asiwaju Olumide Osunsina, a Construction and Real Estate giant.
He has put in well over 30 years in the business. He founded Megamound in 1992, which has become one of the largest indigenous privately owned real estate firms.
He has steered and nurtured it into a multibillion naira diversified institution.
He has broad expertise in property development & management. And he is an innovative & strategic organizational leader, well skilled in the commercial real estate value chain. He has a proven record of successful projects in several states in Nigeria and also abroad.
Only last week, Gov. Babajide Olusola Sanwo-Olu officially commissioned the LBIC/Megamound Greater Lagos Apartments Obele, Surulere made up of 378 units built by Lagos Building Investment Company Plc and Megamound in a Public Private partnership. Osunsina is the Chairman of the company.
His story is very inspiring and impressive.
At the time the company was being registered, the “Visioner”, Asiwaju Olumide Osunsina had just returned from living in the UK. He had returned with high hopes for his country, after seeing and experiencing the possibilities in the UK. Coincidentally, his late mum of blessed memory, Madam Folasade Osunsina had invested in properties in various states in Nigeria. And this was a major motivation for him to plunge into the Construction Industry.
The journey began with the River Valley Estate Ikeja, Lagos. Megamound invested in several parcels of land from family land owners of which some were sold and others built into flats and duplexes which were later sold. The accomplishment from this venture was what spurred the success story of Megamound. The first major commercial project was Omole Shopping Plaza in 1995. The success from these investments encouraged the company to diversify. Nicon Town Estate was the pioneer project on the island. Megamound partnered with other investors to start a site and service scheme which involved sandfilling.
The flagship of the Carlton Gate brand started off with Carlton Gate Estate Chevron Drive Lekki in 2004, after which he embarked on one of its largest projects Lekky County Homes Ikota. Since then, the company has never looked back and has completed several other projects.
Megamound has also ventured into the Hospitality sector with the construction of 3 hotels in Ibadan, Oyo State. These are Carlton Gate Hotel, Carlton Gate Xclusive Hotel and Carlton Gate Signature. The inspiration came from the visioners’ zeal to improve and contribute to the hospitality sector in the state.
He then decided to expand his business, and today, the hotels are well known brands in the state. He has very many impressive projects.
Let’s tell you about the Carlton Gate Estate, on Chevron Drive in Lekki, Lagos. Acquired from the Ojomu chieftaincy family, the land measuring 40 Hectares is located on Chevron Drive, Lekki, and shares the magnificent ambience of the Chevron Nigeria Limited Head Office. Megamound in conjunction with Indemnity Finance Limited, entered into a Joint Venture Agreement with Ojomu chieftaincy family to develop the project. The land was reclaimed by sand filling which was contracted by Megamound to Messrs Julius Berger Nigeria Plc.
The Estate, which was set up in 2004, comprises of 380 plots with the provision of infrastructure such as roads, electricity, water supply, drainages, telecom, perimeter fence, etc. undertaken by PW Limited. These estate facilities have been completed and the estate has since been transformed into an exclusive upper-class neighbourhood.
There is also Lekki County Homes Estate, Ikota (Before Vgc), Lekki.
By a Joint Venture Agreement, Megamound Investment and Mayfair Building Society Limited, established Lekky County Homes Limited, a company incorporated for the purpose of developing a 100 hectares piece of land into a site and service residential scheme known as Lekky County Homes Estate.
The entire land which was originally owned by Mayfair Building Society Limited, was made the subject of development. Under the Joint Venture Agreement Megamound was the financier and were appointed the managers of Lekky County Homes Limited due to its wide experience in estate development and its ability to source funds to finance large scale projects. Lekky County Homes Estate is strategically located at Ikota; Lekki, almost opposite Oluwa Ni Sola (Eleganza Plaza) and five minutes’ drive from VGC, along the Lagos-Epe Express Way, Lagos State.
There is also Smiths Square, 37, Ikoyi Crescent, in Ikoyi.
The Smiths Square development is a Joint Venture located in one of the best neighbourhoods in Lagos, 37 Ikoyi Crescent, Ikoyi, Lagos. The project consists of the development of 12units of 4-bedroom Maisonettes and the renovation of a block of flats comprising 8 units of 4-bedroom flats with BQ.
The project represents a richly layered architectural design that presents a remarkable facade of staggered rectilinear modules made up of intersecting volumes and balconies in different combinations.
Smith’s Square is an exclusive upscale family development in the heart of the idyllic Lagos metropolitan city. With exceptional attention to details, outstanding specifications and a beautiful setting, this exclusive home offers true living without compromise. The project has been completed. The estimated value of the project is over N3.5 billion.
Let’s tell you about Greater Lagos Country Apartments, Surulere, Lagos which is the latest project being talked about right now.
Greater Lagos County Apartments Development is a Joint Venture between Lagos State Government and Megamound Investment Limited to develop 340 units of affordable housing comprising of 1, 2, and 3 Bedroom apartments. The project is placed on 3.146 Hectares of land. The development, which is strategically located inside Surulere, stands out as a new landmark development setting unrivalled standards for contemporary social living.
It is made up of 22 building blocks developed into a mini-estate which comes with ultra-modern amenities like swimming pool, gym facilities, elevators, IR-remote sensor, fibre optics for super-fast network, perimeter fencing, 24 hours patrol system, to name a few. The project is under construction and the projected completion is the last Quarter of 2023.
There is also Country Apartments, Lekky Country Homes Estate 2018.
County Apartments is a project uniquely designed by Megamound with a fusion of elegance and grandeur. The project is placed on 16,480sqm of land with about 264-units comprising 1, 2 and 3 Bedroom apartment. The development, which is strategically located inside Phase II of Lekky County Homes Estate Ikota, stands out as a new landmark development setting unrivalled standards for affordable contemporary social living in the Lekki Pennisula area.
Made up of 19 building blocks of twelve (12) units, it s a mini-estate which comes with ultra-modern amenities like swimming pool, gym facilities, elevators, IR-remote sensor, fibre optics for super-fast network, perimeter fencing 24 hours patrol system, to name a few.
There is also Megamound Funtai Courts, Ruxton Road, Ikoyi, (2010).
This is a joint venture agreement between Funtai Limited and Megamound Investment Limited under a Public-Private Partnership (PPP) arrangement with the Federal Ministry of Housing and Urban Development.
The project is located on 3 Ruxton (Ojomu) Road, off Glover Road, Ikoyi, Lagos.
The initially structured on 3,170sqm was redeveloped into a 10 unit residential building comprising 4 semi-detached and 2 detached 4bedroom houses.
Megamound Funtai Courts is 100% percent completed and it has world class infrastructure in place, which includes swimming pool, automated security gate, CCTV Camera, experienced security personnel amongst others. The project was successfully delivered in December 2012.
Let’s also tell you about Kings Court Apartments, Oniru 2010.
This block of flats is located within the Oniru Chieftaincy Family Estate Victoria Island Annex, Lagos. These spacious, luxurious and contemporary serviced apartments offer independent living space in the heart of Oniru.
Kings Court apartments consist of 12 Units of 3 Bedroom flats with BQ and 10 units of One-bedroom flats. It is situated directly opposite Atlantic Beach Estate with beautiful views of the Atlantic Ocean. Each luxury apartment has been tastefully furnished and equipped with modern electronic appliances The available services and facilities include swimming pool, gym central alter native power supply, CCTV treated water, communication ducts, intensive security, lightings and good drainages.
This 5000sqm land area was completely acquired and developed by Megamound.
Kings Court Apartment 2 development is an upgrade of the initial development by Megamound. It is a mixed development building offering a unique approach to the Victoria Island/Lekki axis. It is located in a rapid developing residential environment, which has become a business hub for social and work lifestyle. The building is made up of 9 floors with ground floor parking, two commercial floors while six floors are dedicated to residential units, each comprising 1, 2 & 3 bedroom flats and a luxurious Pent house with an all round view of Oniru. The cascading architecture creates an admirable feeling of space and light in the offices and apartments. The project is ongoing.
By a Joint Venture Agreement and a Memorandum of Understanding, the Elegushl Property Investment Company Limited (Owners) agreed with Megamound/IFL Ventures Limited (Developers) to develop 20.733 hectares of land. It is located at Elegushi, beside Chisco Motors, Lekki-Epe Express Way, Lagos. The project is developed into a residential site and service scheme with ancillary support facilities like roads, electricity, drainages, perimeter fence and streetlights. The site is properly sand filled and laid out into different plot sizes of 800sqm and 1000sqm. The project has since been completed and plots sold to various subscribers.
There is also Megamound Homes, Lekki Phase 1 in Lekki (2010). This joint venture development is located at LASG Lekki Peninsular Phase 1 scheme. Its consists of 6 four bedrrom town houses on 2800 sqms. The project was duly executed and handed over in 2018.
Lets also tell you about Carlton Gate Estate, Akodo, Lagos 2005
Megamound acquired land at Akodo Village Lekki Pennisula where construction began on the development of residental buildings with the quality and style the company is recognised for in the real estate industry. It is set to be a 30 hectares residential estate.
Megamound Place in Victoria Island, Lagos is now 25 years old. It began in 2000.
It is the Megamound head offfice situated at 14 Muri Okunola Street, Victor Island. The land was leased to the company in 2000 and has since beer developed into a 3 floor office complex with 5 office suites and a pen house.
In 1997 there was the Omole Shopping Plaza project, in Ikeja. This is one of the pioneer developments of Megamound Investment Limited. It is an office complex on a 379.314 square meters The development comprises of four (4) office suites and twenty three (23) shops The property is named “Osunsina House” and it is a fully commercial development.
Another popular project is the Carlton Gate Estate located at Akobo, in Ibadan. It is a public private partnership agreement between Megamound Investment Limited and Oyo State Government. It began in 2008. The plan is to replicate the quality of the company’s developments in Lagos at Ibadan. The estate is located at Kolapo Ishola Government Reservation area (GRA). Akobo along Monatan – Iwo road, Ibadan and measures 60 hectares. The property comprises of 700 residential plots currently under construction with plans in place to provide commercial and recreational infrastructure. The plots are well arranged and strategically located.
Carlton Gate Estate Ibadan (2016) is yet another project.
Nestled in the heart of Ibadan is the prestigious and luxurious Carlton Gate Hotel. It is located at 853 secretariat road agodi GRA Ibadan (Behind UCH).
The Hotel has 55 rooms with a modern contemporary interior setting. Each room has its own balcony with the view of the city and the hotel has a gym, an elevator, 200 capacity events hall, 2 bars, an exclusive ViP bar and a swimming pool Carlton Gate is an ideal relaxation spot, where guests can rediscover and experience the beauty of Ibadan.
This top-class hotel located in the heart of Ibadan is on a 4600 square meters of land at Agodi GRA, Ibadan (beside mary hill convent school ). It comprises 65 luxury rooms inclusive of two 5 bedroom presidential suites, a conference hall, gym, swimming pool, bar and a 200 capacity events hall amongst other facilities.
Let’s add Carlton Hiltop Estate in Abeokuta to the list. It was developed in 2011. It is a 46 Hectares land acquired from the Ogun State government to develop a very low density residential estate with minimum land allotment of not less than 1000 square meter on which shall be built single dwelling homes.
The location as depicted by its name has an undulating hilly topography and construction/design is expected to follow this topography for effect and beauty. The estate is fashioned along the style of the colonial GRA with plenty of ground for garden. The target market are the middle age and ‘soon to retire’ High Net-worth Individuals (HNI) who crave for country homes located in well packaged functional and secured estates. The unique selling point (USP) of this estate will be its new and functional infrastructure. This is a project in view which will reflect the unique and distinctive qualities associated with Megamound.
There is the Ibara Flagship Estate which is a Joint Venture Development between Ogun State Government (Ibara Renewal Limited) and Megamound Investment Limited for the development of 12 units of semi-detached houses (24 duplexes). This project is on 1.26 hectares of land within the larger Ibara GRA. Facilities include road network, sidewalks, drainage, and recreational facilities within the development. The project has been executed and completed.
There is also a project in the UK. called Supreme Core Development, Watford, Herdfordshire (2010). This project is located on Fellows Close Watford, Herdfordshire, WD25 ass United Kingom. It consists of 4 units of 2 bedroom flats and a three bedroom semi detached duplex.
Megamound, operating under its UK company purchased the land and handled tile construction from the intial phase to completion. The property has since been rented out to various tenants. Megamond’s list of projects is long and unending.
