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Elegushi Kingdom Proposes $300m Imperial City - Properties - Nairaland

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Elegushi Kingdom Proposes $300m Imperial City by realjoker(m): 9:58pm On Feb 11, 2016
The Elegushi Royal Family has revealed its plan for the establishment of a $300 million new Imperial International Business City (IIBC). The new 200 hectare city will be built on reclaimed Lagoon extension of the kingdom and will also be the first eco-friendly smart business city in Africa.
The Elegushi of Ikate Kingdom, Oba Saheed Ademola Elegushi laid out his vision about the city in his palace while receiving some American investors interested in the project. He said the idea of a smart business city will address the perennial housing deficit in Lagos state and also change the landscape of real estate in Africa.
The project which is a Joint-Venture between the Royal Family and Channeldrill Resources Limited will commence in April 2016 with land reclamation. According to the Chief Executive Officer (CEO) of Channeldrill, Mr. Femi Akioye, the project will be executed by some of the best drilling and architectural companies in the world.
“The Elegushi Royal Family has received approval for the expansion of the Ikate Kingdom by 200 hectares. It is the vision of the royal father, Oba Saheed Elegushi to create an international business city which will incorporate the work, live and play theme. The IIBC will expand the Ikate kingdom and also extend Lekki Phase 1. We are making use of the best dredging and architectural companies in the world to accomplish this feat,” Akioye said.
He said the Town and Regional Planning are being executed by Gensler Architectural Company, an American firm with global presence and United Kingdom based Grimshaw Associates. The dredging has also been contracted to two of the biggest dredging companies in the world, Jan De Nul –which is currently building Dangote Refinery- and Dredging International Limited, both Belgian companies.
According to Akioye, the imperial city when completed will boost of world class infrastructures and novel innovations. It will also consist of Residential Area (30 %), Commercial, Residential Area (10%), Business District ( 30%), Leisure & Entertainment (10%), Infrastructure ,road, recreation & green park (20%) and fibre optics telecommunications, sewage and fire service station.
Akioye: “Investors are already buying the off-plan allocation released by the Joint Venture and we are already at advance stage of the project. Our infrastructural plan will include, Lakes and water ways which will be used for internal water transportation within the city, it is also required for the city’s drainage system to prevent flooding. There will be office park which will include a shopping Mall with farmers’ fish & meat market, cinema and entertainment complex.
Two Hospital Buildings and a school other commercial areas will be sold to private investors. The office park will also have a Sports Complex. All these buildings we have a vegetated green roof to mitigate the urban heat island effect and all land owners will be encourage to use the same technology; there will also be a mini marina which can take at least 40 yachts.”



http://thenationonlineng.net/elegushi-kingdom-proposes-300m-imperial-city/

11 Likes 1 Share

Re: Elegushi Kingdom Proposes $300m Imperial City by veraponpo(m): 10:06pm On Feb 11, 2016
This is good at the surface. My fear is in the area of its effect on the environment .

We have Atlantic City still ongoing

6 Likes

Re: Elegushi Kingdom Proposes $300m Imperial City by Flyoruboy(m): 8:21am On Feb 12, 2016
shocked

1 Like

Re: Elegushi Kingdom Proposes $300m Imperial City by autolearner: 8:39am On Feb 12, 2016
Elegushi Spenders!!!

I Bet those asking how this project will be funded don't know how viable it is.
I can assure you there are investors fighting and lobbying to have their money taken over this project.
This is a private project that will sell and investments recouped in less than 50years.

Eko Atlantic that is far away from completion and it's 40% bought over.. Save the commercial sites and mostly the private residences.

Don't worry about the investments... Pray to have enough to buy in before it's taken over.
I pray God blesses the works of my hands enough to buy my family a choice apartment there.


veraponpo:
This is good at the surface. My fear is in the area of its effect on the environment .
We have Atlantic City still ongoing


Nothing To Be Worried About... It is done in developed countries. Some even go as far as having International airports on reclaimed lands.
You can be rest assured that projects this massive aren't given to small firms to handle.

9 Likes 2 Shares

Re: Elegushi Kingdom Proposes $300m Imperial City by harmless011: 9:10am On Feb 12, 2016
Nice business concept

2 Likes 1 Share

Re: Elegushi Kingdom Proposes $300m Imperial City by Kennywonders: 9:18am On Feb 12, 2016
Where will the funding come from? The marine world?
Re: Elegushi Kingdom Proposes $300m Imperial City by spokesboy: 9:18am On Feb 12, 2016
Good project.
It is an entirely New City built around the Lagos Lagoon in Elegushi Kingdom Area of Lekki Phase 1. It is better and safer than similar projects within Lagos State.
I AM HAPPY TO BE PART OF THE PROJECT TEAM smiley

14 Likes

Re: Elegushi Kingdom Proposes $300m Imperial City by spokesboy: 9:18am On Feb 12, 2016
THE NEXT BIG THING IN LAGOS FOR THE DISCERNING REAL ESTATE INVESTORS.
It's set to be delivered faster than Eko Atlantic City and similar projects in Lagos.
See the approved survey plan below...

5 Likes

Re: Elegushi Kingdom Proposes $300m Imperial City by kennyman2000(m): 9:18am On Feb 12, 2016
Money is good. Bless my hustle ohh lord and that of my fellow nairalanders.



Check my signature for ur customised wristband

12 Likes 2 Shares

Re: Elegushi Kingdom Proposes $300m Imperial City by deebsman1(m): 9:19am On Feb 12, 2016
commendable......forward thinking thinz
Re: Elegushi Kingdom Proposes $300m Imperial City by njoku10(m): 9:20am On Feb 12, 2016
good one
Re: Elegushi Kingdom Proposes $300m Imperial City by daywalker02: 9:20am On Feb 12, 2016
were we they get the money to fund such project.

1 Like

Re: Elegushi Kingdom Proposes $300m Imperial City by memeguy: 9:20am On Feb 12, 2016
Lots of questions.

How will the project be funded?

By the Royal family or by Investors?

If by the Royal family, what is their source of income?

If by Investors, we must again ask, how exactly did the royal family secure approval for a project which involves dredging and filling of hectares of land on the Atlantic ocean?

Upon completion of the project, apart from possible taxes, will any revenue accrue to the federal, state or local governments? Or will all the income go to the royal family?

I'm not against capitalism, and honestly I would appreciate it if I could get an unbiased answer to all or most of these questions.


On a side note:

Previously the goal was to have a house at Ikoyi, then it became Victoria Island.Then Atlantic City, and now this.

The economic divide in Lagos is gradually widening, and soon it will be impossible for people from the lowest rungs of the social ladder to move up.

7 Likes

Re: Elegushi Kingdom Proposes $300m Imperial City by RegimentedCom(m): 9:20am On Feb 12, 2016
What is Elegushi?....is it the owner of melon?

5 Likes

Re: Elegushi Kingdom Proposes $300m Imperial City by 49cents(m): 9:21am On Feb 12, 2016
Smart idea!
Re: Elegushi Kingdom Proposes $300m Imperial City by teepsee(f): 9:21am On Feb 12, 2016
Fingers crossed
Re: Elegushi Kingdom Proposes $300m Imperial City by Viktor1983(m): 9:21am On Feb 12, 2016
it's all good
Re: Elegushi Kingdom Proposes $300m Imperial City by RichYoungNigger(m): 9:22am On Feb 12, 2016
The igbos will soon buy all the property

2 Likes 1 Share

Re: Elegushi Kingdom Proposes $300m Imperial City by Nobody: 9:22am On Feb 12, 2016
End time city
Re: Elegushi Kingdom Proposes $300m Imperial City by obanqua(m): 9:22am On Feb 12, 2016
See why its cool to enthrone/empower young minds?

Wake up call to all other monarchs, gone are the days of plenty women and children and overlordship as the insigna of the office of the monarch!

Nice one Kabiyesi,
k'ade pe l'ori
Ki bata pe l'ese
Irukere a di abere!

Regards to my beautiful sis Olori Sekinat

6 Likes

Re: Elegushi Kingdom Proposes $300m Imperial City by Nogodye(m): 9:24am On Feb 12, 2016
Nice one.....Nice innovation
Re: Elegushi Kingdom Proposes $300m Imperial City by Nobody: 9:24am On Feb 12, 2016
Nice move by Elegunsi, though I haven't heard the name before...$300,000 to establish a business will enhance growth and also bring foreign investor to the country.....is better than, the Zimbabwe pastor who brought her wife a car worth of $400,000.

1 Like

Re: Elegushi Kingdom Proposes $300m Imperial City by missdebs(f): 9:24am On Feb 12, 2016
eko o ni baje

1 Like

Re: Elegushi Kingdom Proposes $300m Imperial City by Segadem(m): 9:24am On Feb 12, 2016
hmmmm ,that will be naija Paradise, Lagos is the most blessed in naija.
Re: Elegushi Kingdom Proposes $300m Imperial City by Nienie(f): 9:27am On Feb 12, 2016
cool..elegushi spenders..darris what we want in our country..nice one

1 Like

Re: Elegushi Kingdom Proposes $300m Imperial City by MrMcJay(m): 9:27am On Feb 12, 2016
Land reclamation going on at Orange Island, Eko Atlantic City and this new city all in a bid to attract investors and boost the economy of Lagos.

Eko o ni baje o!

6 Likes

Re: Elegushi Kingdom Proposes $300m Imperial City by MrMcJay(m): 9:28am On Feb 12, 2016
RichYoungNigger:
The igbos will soon buy all the property


The best title you can receive on landed property in Lagos is a C of O and this lasts for 99 years. Meanwhile, some C of Os have been issued about 30 years ago which means they'll expire in 69 years time. After 99 years, what becomes of 'your' land in Lagos is at the pleasure of the Lagos State Government as it reverts back to LASG.

These unnecessary ethnic boasts wouldn't help you when it's time to renew your C of Os.

When a man with money meets a man with wisdom, the man with wisdom gets the money and the man with money gets wisdom.

Just an advice.

17 Likes 1 Share

Re: Elegushi Kingdom Proposes $300m Imperial City by macaranta(m): 9:28am On Feb 12, 2016
Cool stuff
Re: Elegushi Kingdom Proposes $300m Imperial City by Nobody: 9:28am On Feb 12, 2016
autolearner:
Oshey!!! Elegushi Spenders
Nothing To Be Worried About... It is done in developed countries. Some even go as far as having International airports on reclaimed lands.
You can be rest assured that projects this massive aren't given to small firms to handle.


There is no such thing as an impossible engineering design but the guy mentioned the impact on the environment. For such mega projects, an environmental impact assessment should be carried out on the immediate 10km radius axis and the entire Lagos marine zone that is connected to the lagoon. We need such projects in our country but we don't want our ecosystem to suffer afterwards
Re: Elegushi Kingdom Proposes $300m Imperial City by ThePeacemaker(m): 9:29am On Feb 12, 2016
grin
I FEAR
ELEGUSHI KINGDOM PROPOSES grin

I think say the kingdon wan marry

1 Like

Re: Elegushi Kingdom Proposes $300m Imperial City by macaranta(m): 9:29am On Feb 12, 2016
RichYoungNigger:
The igbos will soon buy all the property

Don't tribalize the thread okay

13 Likes 1 Share

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