Nigerian real estate gets $100m architectural boost

The Nigerian real estate has received a boost as Gren- adines Homes concludes arrangement to embark on Atlantic Resort project of 35,000 square metres prime oceanfront, valued at about $100 million.

 

The project, which will be built on Water Cor- poration Road, Victoria Island, Lagos, will have luxury residential apart- ments, retail office space and a five-star hotel.

The firm is working with HOK, a global de- sign, architecture, engineering and planning firm, to give the project an international outlook.

HOK is the designer of the Flame Towers, the tallest skyscraper in Baku, Azerbaijan. “Grenadines remains committed to cutting- edge architecture,” said Adeyinka Adesope, group managing director, Gren- adines Homes, during a press conference held Wednesday in Lagos. “Real estate has got lots of opportunities and we want to play with a difference.

Our business is to give people beauti- ful homes.

The design we came up with few years ago has become a benchmark in the indus- try and we want to drive a paradigm shift in the way homes are built,” Adesope said. According to him, the firm is not just looking at the top-end but is also looking at affordability and at the middle- and lower-ends.

Noimot Olatunji, man- aging director, Grena- dines, said the project will be mixed-use, while the location faced the ocean, saying firm was well-positioned in pro- viding solutions in the real estate sector. “Our homes are much better than the ordinary.

And we believe that the project and the services we offer will be sought- after,” she said, but hoped that the project would not only help in boosting the real estate industry, but would also win an award.

Barry Spencer Hughes, senior vice-president, HOK, said his team was excited about the project, stressing that the project will hopefully bring a slightly different design element in the market.

“Certain facilities at- tached to the hotel will also be beneficial to the residents,” Hughes said. The ground-breaking event of the project is ex- pected to happen in 2016.