• Sunday, March 03, 2024
businessday logo


Gracefield Phoenix: Luxury island devt rising on lagoon shoreline


On the shoreline of the Lekki Lagoon in Lagos, a mega real estate development is rising, holding out promise for a work-live-and-play environment on 100 hectares of land to be reclaimed from the lagoon.

A luxury island development, Gracefield Phoenix is, so far, the first of its kind in Nigeria and can only be likened to Dubai’s Palmtree Island,  offering opportunities to live in luxury houses, work in ultramodern office complexes, shop in the best shopping malls and play the most exquisite tourism centres.

According to Gravitas Investments Limited which is developing and promoting the project, a mega residential and commercial town is being built on over 20 hectares of land already gained, disclosing that the project has been approved by both the federal and Lagos State governments.

Described as an opportunity of a life time for home buyers and commercial real estate investors, Gracefield Island developer is working in partnership with such blue-chip companies as MTN, Lafarge  and CFAO, meaning that the scheme is 100 percent private sector-led and  funded.

Located at the end of Chevron Drive  (Lekki Phase 2), just 900 metres off Lekki-Epe Expressway, the island is connected to Lekki by its own highway and provides not only a serene atmosphere for residents and a conducive environment for commercial entities, but also lucrative opportunities for investors.

“This new metropolis will be the first of its kind in Nigeria. It will be self-sustaining for its workers, residents  and investors, in addition to the many tourists it will attract due to the harmony of its design with nature”, said Dotun Adewunmi,  Digital Marketing Manager, Assist-2-Sell Properties Limited, which is marketing the project

Some of the infrastructure facilities planned for the island include a fire station, a public library, a police station, parks, a marina, schools, office complexes and shopping malls.

In an earlier report, Olufemi Babalola, Gravitas  CEO, had assured that  Lagos  was set to witness a fundamental positive shift in new city development and real estate construction as Gracefield Phoenix was designed and being implemented to be eco-friendly, ensuring sustainability in all aspects of the development.

The island, he added, was conceived to be delivered as a truly live, work and play environment, offering premium lifestyle to match any other prime development in the world while its residential area was designed to have premium properties on substantial plots.

“There will be varieties of house-types ranging from condominium to terrace houses and single household units, constructed to world class standard, and offered at reasonable prices.

“The commercial area will have an upscale shopping area that is suited to serve the development, just as the business park will offer purpose-built office environment to generate the vibrancy and orderliness necessary for wealth creation centres”, he said.

Olufemi disclosed there was plan in place to monitor and control carbon emission on the development, ensure recycling was an integral part of waste management and that pollution of the lagoon environment was avoided, adding that pockets of conservation areas and natural woodlands were planned into the development.