A comprehensive new plan unveiled last week to reverse the growing decline in the nation’s housing stock in the Lagos area, is promising an ambitious new deal for a fresh town project within the Lekki -Epe corridor.
Dubbed as the first eco-friendly smart business city in Africa, the project known as Imperial International Business City (IIBC) is promoted through a joint-venture between the Elegushi Royal Family and a private developer, Channeldrill Resources Limited.
The proposed scheme can be accessed through three locations: Freedom road through Lekki Phase 1 (Lekki Third Roundabout); Kunsenla Road by fourth Roundabout of Lekki-Epe Highway and Oba Saheed Ademola Elegushi Road by spare supermarket before Jakande. Another access road is being planned through Femi Okunu by Jakande roundabout.
Specifically, IIBC will be bankrolled through British Foreign Direct Investment of about $300 Million and off plan sales. The city will be zoned into residential, mixed used and commercial areas. Each zone will have low, medium and high density area as well as lagoon/water view area.More here.
Eko Atlantic City , Ibeju-Lekki new town ,Orange Island and now Imperial International Business City.Notice a trend???? Yes they’re all within the Victoria Island-Lekki axis (which is pretty obvious).But more than that , they represent 21st century developments and building technology.Pretty much like a miniature dubai. And thats a good thing. The question now is if you’ve got luxury on that side of town , why don’t we have affordable housing developments on the other side of town.Affordable housing solutions like TATA’s value housing project under the Shubh Griha brand (see video below).