After initiating a joint public-private partnership project with the Lagos State Government, a private developer – Messrs Capstone Developers Limited has again begun a new initiative that seeks exploitation of its proximity to the thriving Lagos real estate market.
The new venture, named “Zirconia Heights”, will involve construction of a 10-floor mixed-use development with a total of 60-unit apartments in Lekki Phase 1 within the Victoria Island – Epe corridor.
The company is teaming up with Federal Mortgage Bank of Nigeria (FMBN) and some financial institutions to offer mortgage to prospective subscribers and investors.
Specifically, the project comprising 24 units of one-bedroom lofts, eight units one-bedroom flats, four units of two-bedrooms lofts, 24 units two-bedroom flats and four units of office and retail space.
Each unit is designed to have specialised amenities, such as fully air conditioned spaces, fitted kitchen, full furnishing, smart features, fibre-optic enabled internet, CCTV and automated card access control.
Among the general amenities and services are four high speed elevators, basement, ground floor and first floor parking, recyclable sewer system, water treatment plant, sewage disposal system, 24-hour uninterrupted electricity supply powered by three sources (mains, generators and solar panels) and expansive lounge area.
Others are swimming pool, restaurants, fitness and wellness centre, rooftop terrace with panoramic views of Lekki and environs, rooftop grill and business café and high-level access control throughout the common areas.
The Managing Director, Gapstone Developers, Dr. Adetoro Bank-Omotoye, who spoke at the product’s media launch, said the project is inspired with a mission to identify opportunities and create innovative ways to deliver modern real estate assets to bridge affordability gap for the mid-income earners.
He said the housing units are affordable, meant to reduce housing deficit and fill the gap in the real estate market.
Speaking on the layout and engineering innovation, the Managing Director, APD Project Management Limited, Andy Jibunoh, said the company is already on site and will ensure quality as well as timely completion of the project.
“To ensure that the quality match the location, we want to make the sure the engineering works. This a 10- floor building, the design has to be appealing. Real estate allows for people for aspire for a particular lifestyle, which can be seen through quality of doors, tiles and amenities,” he added.
The Chief Procurement Officer, Mrs. Nafiscat Bank-Omotoye, said: “We would ensure the right professionals and materials are utilized. We are also building a team of supply chain that understands the quality of products. We plan to detailed and deploy strategies that fit our product.”
Dr. Chief Investment Officer, Dr. Bolanle Golden, explained that the off takers, young professionals and first time home owners have opportunity to obtain mortgage and make installment payments for their units.