{"id":127183,"date":"2019-10-28T17:52:44","date_gmt":"2019-10-28T16:52:44","guid":{"rendered":"http:\/\/www.citypeopleonline.com\/?p=127183"},"modified":"2019-10-28T17:52:46","modified_gmt":"2019-10-28T16:52:46","slug":"5-housing-projects-in-lagos-where-the-rich-are-buying-houses","status":"publish","type":"post","link":"https:\/\/www.citypeopleonline.com\/5-housing-projects-in-lagos-where-the-rich-are-buying-houses\/","title":{"rendered":"5 Housing Projects In LAGOS Where The Rich Are Buying Houses"},"content":{"rendered":"\n

The hub of real estate in Nigeria is Lagos. The Lagos property\/real estate sector didn\u2019t experience much decline, especially since Nigeria came out of inflation a few years back. Before inflation, many States in Nigeria recorded high activities in the real estate sector most especially Portharcourt and Abuja. Presently, Lagos is still the no1 in terms of activities. There are many private\/public projects ongoing in Lagos and many of are and situated on the Island, in particular.<\/em><\/strong><\/p>\n\n\n\n

This\nweek, City People will be unveiling 5 big housing projects in Lagos; housing\nprojects that appeal to big personalities, celebrities, captains of industries\nand other people who fall into the categories. These big housing projects are\nthe dreams of the high and mighty. Many of them have bought into these\nprojects, while others are still giving it a thought.<\/em><\/strong><\/p>\n\n\n\n

These\nprojects are for high profile individuals who are lovers of luxury and good\narchitectural mansions in a serene environment. Some of these housing estates\nare sold in dollars and are mostly situated around Lagoons. Below are some of\nthem.<\/em><\/strong><\/p>\n\n\n\n

ALARO\nCITY<\/p>\n\n\n\n

Alaro\nCity is an integrated, mixed-use city planned for over 2,000 hectares in the\nLekki Free Zone. Alaro City has areas for offices, logistics and warehousing,\nhomes, schools, healthcare facilities, hotels, entertainment and 150 hectares\nof parks and open spaces. Located in the North West Quadrant of the Lekki Free\nZone, Alaro City is ideally situated on the Lekki-Epe Expressway for ease of\ntransportation to Lagos or towards the rest of Nigeria. Alaro City is adjacent\nto the future Lagos international airport and close to the region\u2019s largest\ndeep sea port and major Nigerian and international companies. Alaro City holds\nfull land title with Certificate of Occupancy. 500 square metres at Alaro City,\na plot of land goes for #15 million.<\/p>\n\n\n\n

ICONIC\nTOWERS <\/p>\n\n\n\n

This is a world-class architectural residential masterpiece. The ICONIC TOWERS. A bold infusion of excellence, opulence, distinction and culture of going the extra mile into the Nigerian Real Estate space.<\/p>\n\n\n\n

Iconic\nTowers is a fully serviced and furnished residential, high rise community,\nconsisting of Studio and 2bedroom Apartment, 3 bedroom Maisonettes, 4bedroom\nPenthouses with Boys Quarters and Suites. <\/p>\n\n\n\n

Iconic Towers is located right behind Zenith Bank Headquarters, on Sinari Daranijo Street, Victoria Island, Lagos. A serene and secure Hotel Apartment styled estate with good water view, adequate recreational facilities and amenities for adults and children, near Eko Hotel and Suites. It is complemented with a top-notch commercial hub to offer a contemporary LIVE, WORK AND PLAY lifestyle. <\/p>\n\n\n\n

It is a place for THE ICONS in various fields of endeavour. Iconic Towers is a Joint Venture Development between the Lagos State Development and Property Corporation (LSDPC) and Cruxstone Development and Investment Ltd. <\/p>\n\n\n\n

The\nprices are as follows : 4bedroom Penthouses – N250m .3bedroom Maisonettes –\nN150m .2bedroom Apartment-N80m .Studio Apartment – N45m . Executive Suites –\nN17.5m<\/p>\n\n\n\n

.\n<\/p>\n\n\n\n

ILUBIRIN\nHOUSING ESTATE <\/p>\n\n\n\n

Ilubirin\nEstate is a public foreshore housing project being built on reclaimed land in\nIkoyi Island, Lagos at the foot of the Third Mainland Bridge, facing the Lagos\nLagoon waterfront on Lagos Island <\/p>\n\n\n\n

The Housing project was initiated by the Lagos State Government in partnership with First Investment Property Company through a Public-Private Partnership (PPP). The initial design proposal was approved by the Lagos State Ministry of Housing through the Lagos Home Ownership and Mortgage Scheme (LAGOSHOMS). The first phase of Ilubirin is scheduled to be completed in 2019. Ilubirin was initially modelled after Ikoyi Foreshore Estate, Ikoyi, Lagos and has now been remodelled from a purely residential into a mixed-use development of residential, commercial and leisure areas.<\/p>\n\n\n\n

The\nresidential block prototypes that will be completed in the phases are a mixture\nof 126m2 of 2 bedroom flats; 183m2 of 3 bedroom flats and 76m2 of 1 bedroom\nflats. The project site area is approximately 15.1 hectares. Ilubirin aims to\ncombine the benefits of affordable housing with mid-market luxury.<\/p>\n\n\n\n

The\ndevelopment\u2019s objective is to \u2018contribute to the vision of the Lagos State\nGovernment for prime residential development, leisure, recreation, and\ntourism\u2019. It is sponsored by Lagos State Government \u2013 Ministry of Housing and\nFirst Investment Development Company.<\/p>\n\n\n\n

In the residential blocks that will be delivered in Phase 1, there will be a mixture of 120m2 2 bedroom flats and 243.5m2 3 bedroom flats. Pricing for the units has not been disclosed however, the sponsors are marketing the development as one that will offer \u2018affordable luxury\u2019 within the mid-market housing.<\/p>\n\n\n\n

The\nsite has great connectivity to Yaba and Surulere on the Mainland as well as\nIkoyi, Marina, other areas in Lagos Island and the entire Island region.<\/p>\n\n\n\n

EKO\nATLANTIC<\/p>\n\n\n\n

Eko Atlantic is an entirely new coastal city being built on Victoria Island adjacent to Lagos, Nigeria. It is a focal point for investors capitalising on rich development growth based on massive demand \u2013 and a gateway to emerging markets of the continent.<\/p>\n\n\n\n

The\nproject is privately funded by South Energyx Nigeria Limited \u2013 the developers\nand city planners, a subsidiary of the Nigeria-based Chagoury Group of\nCompanies \u2013 working in strategic partnership with the Lagos State Government\nand supported by the Federal Government of Nigeria.<\/p>\n\n\n\n

Notable\nnational and international banks have been quick to capitalise on the\nopportunities with some of Nigeria\u2019s biggest \u2013 FCMB, First Bank, Access Bank\nand Guaranty Trust Bank \u2013 partnering with Eko Atlantic, with support from BNP\nParibas Fortis and KBC.<\/p>\n\n\n\n

For\nsavvy investors, Eko Atlantic City represents far more than just surging Lagos\nland value. As Nigeria continues its unstoppable trajectory to become the\nfinancial capital of Africa, investing in Eko Atlantic opens unprecedented\nopportunities for tapping into the wider potential of the continent as a whole\n\u2013 widely recognised as the world\u2019s most promising growth horizon. Eko Atlantic\nis a marvel of modern engineering and technology, and a testament to the rise\nof Nigeria on the world stage.<\/p>\n\n\n\n

This\nnew city has evolved rapidly from a visionary design concept into a\ntechnological reality. Infrastructural road works and underground surface\ndrainage pipes are already laid along major routes across the new city. All\nbridges in Phase 1 & 2 of the project have been completed. And the Great\nWall of Lagos sea revetment, which is being built more than two kilometres\noffshore at eight-and-a-half metres above sea level, has surpassed 6 kilometres\nin length and is now protecting over 6 million square metres of Eko Atlantic\nand Victoria Island.<\/p>\n\n\n\n

At the prevailing market rate, land prices in Eko Atlantic City have risen in value by as much 85 per cent since the project inception. The average price for a two-bedroom apartment in one of the high rise towers currently under construction in Eko Atlantic City was selling for US$853,750 (N168, 188,750) and for a three-bedroom apartment in the same tower US$1,010,000 (N198, 970,000).<\/p>\n\n\n\n

Similarly, the average price for a two-bedroom apartment in another high-rise tower was selling for US$896,750 (N176, 659,750), a three-bedroom apartment in the same tower US$1,070,833 (N210, 954,167) and penthouse US$2,586,667 (N509, 573,333).<\/p>\n\n\n\n

ORANGE\nISLAND <\/p>\n\n\n\n

The project is a Public-Private Partnership (PPP) initiative conceptualized in the original master plan of Lagos State. In line with the Lagos state government\u2019s goal to transform Lagos into a more organized and structured megacity. The Lagos state government owns 50% of the project. <\/p>\n\n\n\n

Orange Island is the conceptualisation of the Lagos State Government\u2019s goal to reorganise and restructure the Lagos Mega City. It will be one of the new satellite towns that will be developed in the Lekki, Badagry and Ikorodu districts of Lagos State over the next few years. To this end, a Memorandum of Understanding between Lagos State Government and FW Dredging (Sponsors of the project) was signed in January 2013 and a joint venture agreement between FW Dredging, Orange Island Development Company and the Lagos State Government signed on 9th January 2014. A plot of land in orange Island is sold for 250 million and above.<\/p>\n\n\n\n

\u2013ISAAC ABIMBADE<\/p>\n\n\n\n

READ ALSO: LATE PROF, PIUS ADESANMI FINALLY GOES HOME<\/a><\/h6>\n","protected":false},"excerpt":{"rendered":"

The hub of real estate in Nigeria is Lagos. The Lagos property\/real estate sector didn\u2019t experience much decline, especially since Nigeria came out of inflation a few years back. Before…<\/p>\n","protected":false},"author":7,"featured_media":127184,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[21],"tags":[18718],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2019\/10\/Housing-Projects1.jpg?fit=996%2C662&ssl=1","jetpack-related-posts":[{"id":121625,"url":"https:\/\/www.citypeopleonline.com\/meet-50-big-boys-who-control-real-estate-sector\/","url_meta":{"origin":127183,"position":0},"title":"Meet 50 Big Boys Who Control Real Estate Sector","author":"Isaac Abimbade","date":"July 23, 2019","format":false,"excerpt":"The Real estate sector remains one of the bedrocks of the Nigerian economy despite the uncertainties rocking that sector. In the last few years, it has continued to do well and a lot of property players have made it big, especially in Lagos where the majority of them have their\u2026","rel":"","context":"In "Property"","block_context":{"text":"Property","link":"https:\/\/www.citypeopleonline.com\/property\/"},"img":{"alt_text":"Real Estate, ADRON, RevolutionPlus, LandWey,","src":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2018\/01\/26863836_2048659988752262_8378219616572276736_n.jpg?fit=650%2C650&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2018\/01\/26863836_2048659988752262_8378219616572276736_n.jpg?fit=650%2C650&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2018\/01\/26863836_2048659988752262_8378219616572276736_n.jpg?fit=650%2C650&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":157540,"url":"https:\/\/www.citypeopleonline.com\/10-reasons-you-should-invest-in-lagos-real-estate\/","url_meta":{"origin":127183,"position":1},"title":"10 Reasons You Should Invest In LAGOS Real Estate","author":"Isaac Abimbade","date":"June 7, 2021","format":false,"excerpt":"Lagos is regarded as the hub of real estate business in Nigeria. 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