Two real estate firms in Nigeria, African Capital Alliance, and Elalan Group have disclosed plan to deliver a blend of contemporary luxury apartments, state of the art retail mall and exclusive resident’s park in Lagos.

Managing Director, Elalan Group, Andrea Geday, who spoke about the project over the weekend said the group was on track to deliver phase one of the project, located in the Lekki area of the city in 2019, beginning with some 119 impeccable one to three bedroom apartments with related infrastructure services and social amenities.

Geday said in a statement that with 20 per cent initial down payment and balance spread over the completion period, the project called Blue Water Lagos offers ideal options for different homeowners, with something for the discerning.

“Our brand new state of the art Sales Suite and Show apartment located on site at Plot 1, Block 5, Goshen Road, off Remi Olowude Street, Lekki Phase 1 is ready to receive clients and introduce them to this spectacular new project,” Geday said.

According to him, the Blue Water Lagos, the entire development consists of five towers situated on more than three hectares of land offering its cosmopolitan residences unrivalled views of the Atlantic coast as well as easy and convenient access to shopping, dining, leisure and entertainment experiences all within walking distance of their homes. The innovative retail mall with top brand shopping will provide products for the residences.

He also stated developments and attractive return on their investments through rental yield and capital growth.

African Capital Alliance’s Obi Nwogugu said: “We are delighted with the pace of construction and the tremendous interest we have received from the Lagos market. We are seeing both private and bulk buyers take position in this project because of the value and highest standards it will deliver, which we have no doubt will redefine affordable luxury living in Lagos”.

The group expect Nigeria growing economy, particularly the economic realities in Lagos to create opportunities for the investment, as Lekki is fast becoming the fastest growing and most sought-after areas in the city.

By Marc Philips