Chineme Okafor in Abuja
The African Capital Alliance (ACA) and the Elalan Group have indicated that the first set of apartments from their new project – the Blue Water Lagos (BWL) -would be ready for use by December 2019, stating that they are on track with their delivery timeline on the project.
According to a statement from the firms, work on the BWL have continued with its phase one expected to be ready for occupancy by Christmas 2019.
They explained that the first phase would comprise about 119 one, two, and three bedroom apartments with related infrastructure services and social amenities.
Describing the BWL as a captivating mixed use development project, the two developer stated that it was conceived to offer a unique life style destination for Lagos.
They equally added that the growth figures recorded in Nigeria’s real estate industry would be expected to be sustained in 2018, with increased signs of economic recovery.
Similarly, they explained that presently, the Lagos real estate business has also continued to grow with the Lekki area taking over as the fastest growing and most sought-after areas in the state.
“This means investors will see a good capital growth and rental yields for this exceptional project especially as Nigeria’s economy has been confirmed as the largest economy in Africa by Forbes with a staggering GDP of $594 billion in 2018,” the statement added.
Furthermore, it noted that BWL represents an exciting blend of contemporary luxury apartments, state of the art retail mall and exclusive resident’s park in the most prime location in Lekki phase one.
It added that the entire development consisted 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, adding however that the reportedly innovative retail mall with top brand shopping will provide products for the residences.
The statement quoted the Managing Director of Elalan Group, Andrea Geday to have said: “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 One is ready to receive clients and introduce them to this spectacular new project.”
Geday, added that with construction well underway and with a 20 per cent initial down payment and balance spread over the completion period, BWL offered ideal options for different homeowners, with something for the discerning. From the single and upwardly mobile, to first time home buyers, couples, second home seekers, smart property investors and retirees looking for quality developments and attractive return on their investments through rental yield and capital growth.
Similarly, Obi Nwogugu of ACA Group, was quoted to have 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.”