Megamound, Lagos Partner to Deliver 378 Housing Units in Greater Lagos County Apartments
Bennett Oghifo
Megamound Investment Limited has partnered with the Lagos State Government to deliver 378 units in the Greater Lagos County Apartments in Surulere.
This is a major urban renewal project that has seen an entire community in Surulere transformed.
In the all embracing public-private partnership project, the Lagos Building Investment Limited (LBIC), a licensed state primary mortgage bank and the foremost property developers have pooled resources and efforts together to build an ultra modern estate, broken down conveniently into 1, 2 and 3-bedroom apartments, respectively.
Located strategically at the end of Michael Ogun Street, off the busy Ojuelegba-Itire Road in Surulere, Lagos, the project which commenced in January 2021 occupies a vast land area of 31,000 square metres.
The project comprises 21 Blocks and a breakdown of the housing units indicates 102 units of 3-bedroom apartments, 228 units of 2-Bedroom Apartments and 48 units of 1-bedroom apartments respectively. Majority of the blocks,18 in number, are on six floors while the remaining 3 blocks are on 4 floors.The Blocks bear beautiful names of cities in Lagos such as Yaba, Magodo, Ogudu, Obalende, Obele and others including Megamound and LBIC.
The undeveloped ground and the roads are well paved and include Megamound Close and LBIC Road.
A unique feature of the apartments is the open plan nature of the 1 and 2-bedroom apartments with a kitchenette in the sitting room as it obtains abroad.
Each house type has a furnished unit to model it. The finishes are of high quality-tiled floors, wooden doors and sliding doors leading to the terrace;windows are casement projected featuring 3 panel aluminium windows; kitchen cabinets are granite topped. The 3-Bedroom units have double terraces.
To serve the shopping needs of the residents is a shopping centre comprising 19 open plan shops. The Estate is fully serviced with modern facilities such as multi court, children’s playground, power house, water reservoir and treatment plant amongst others. The Estate is confined within a perimeter wall fence with four entrance gates including an emergency gate.
The 3-Bedroom carry a price tag of N125 million, 2-Bedroom N85 million and the 1-Bedroom N70 million, respectively.
Lagos State Governor, Babajide Sanwo-Olu, who presented the estate, described it as a truly urban regeneration project because it was built on a former refuse dumpsite.
Gov. Sanwo-Olu said, “Here was just a landlocked dumpsite that you cannot imagine we can turn around. I’ve been here a few times, and I know that this is a complete regeneration. This is a lost asset that has been turned into a viable real asset.
“The piling on each of these buildings, I’m told, is almost 25 meters, just so that you can stabilise each of them.”
Earlier, the Managing Director of Megamound Investment Ltd., Otunba Olumide Osunshina said the construction of the estate began five years ago in partnership with the Lagos State Government. “The project, actually, is in one phase. It’s just one single phase. And it’s 378 units of flats, one bedroom, two bedroom, and three bedrooms. And of course, it has a mall attached to it for the convenience of the occupants. “I’m happy about this project because there’s a lot of reasons to be happy about it. I recollect when we came to this site, it’s a dump site, what you call a brown site, and it looks like this kind of edifice cannot come out of it. So, I would say this is very serious hard work of almost five years between myself and our team- the Megamond team. So, we’re extremely proud about the outcome. And of course, for the community itself, it’s a big plus, because what you are looking at is an improvement in every way for the community, in terms of the economy, and the demography. I mean, we’re bringing 300 and almost 400 millionaires into their midst, because anybody who can afford this is obviously a millionaire. And it’s a positive for both the council and the community itself.”
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