More homes to buy and own have come the way of Lagos residents as the state government recently commissioned two estates in the Surulere area of the state.
The two estates, namely, Greater Lagos Apartments and the Crown Exquisite Homes, were jointly developed by the Lagos Building Investment Company (LBIC) Plc and Megamound Investment Limited as part of efforts to tackle the state’s housing challenge.
The Greater Lagos Apartments is a 378-unit/ well designed facility comprising one-bedroom, two-bedroom, and three-bedroom apartments, while the LBIC Crown Exquisite Homes, is a premium development consisting of 64 units of luxury four-bedroom maisonettes.
According to the developers, this development stands as a testament to the state’s commitment to providing quality and diverse housing solutions for Lagosians.
The development of those apartments, located in Surulere, and the commissioning marked the transformation of a once-dormant site into a thriving residential hub. Olusola Faleye, a key stakeholder in the project, described it as a complete transformation of a previously under-utilized space.
“Turning a former dumpsite into a desirable residential estate has been a five-year journey filled with dedication and hard work. The result is not just a housing development, but also a thriving community,” Faleye said, commending the Megamound team for their unwavering commitment to the project’s vision and delivery.
Governor Babajide Sanwo-Olu, who commissioned the estate, reaffirmed his administration’s focus on the Greater Lagos agenda. “This development is a clear demonstration that our Greater Lagos vision is on course. We are ensuring that Lagosians have places they can proudly call home,” the governor said.
Read also: Investment, economy in focus as Enugu upscales Ease-of-Doing-Business
He added that the state had delivered 22 similar large-scale housing estates within six years, emphasizing the government’s steady progress in closing the housing gap.
The residential estate offers more than just shelter; it brings economic and demographic benefits to the Surulere area. According to Faleye, the majority of prospective and current residents are high net worth individuals, a fact that is expected to positively influence the local economy and generate increased revenue for the local council. He disclosed that the estate was nearly fully sold out, due largely to its strategic location and thoughtful planning.
One of the unique selling points of the development is its prioritization of open spaces and recreational areas. In a densely populated area like Surulere, such features are rare. The estate boasts well-maintained playgrounds and green spaces, creating an environment that supports both community living and individual well-being.
Sanwo-Olu highlighted this aspect in his remarks, saying, “We are not just building homes; we are building sustainable communities. The inclusion of playgrounds and green areas ensures that residents can enjoy a balanced lifestyle in the heart of Lagos.”
The Governor also stressed his administration’s resolve to promote inclusive urban development. He stressed the importance of collaboration with private sector partners like Megamound, whose expertise and investment help to amplify the impact of government-led initiatives.
Community leaders, real estate professionals, and prospective homeowners commended the government’s efforts and called for more of such initiatives to address the housing demand in Lagos.
Essentially, the two developments are not just another housing estate. They represent progress, innovation, and the successful implementation of a vision to make Lagos a place where everyone, regardless of their background, can find a home. The state government’s commitment to infrastructure development, coupled with effective public-private partnerships, continues to shape Greater Lagos.
