Buyers jostle for N4.5b Ocean Parade Towers flats


January n16, 2006/guardian




Propspective buyers have recently besieged the Ocean Parade Towers, the latest haven for the rich in Ikoyi, in search of residential property. The newly constructed edifice as promoted by the developers will \"provide absolute entertainment to the inhabitants.\"

Overlooking the lagoon, the project is a dream come true for people looking for absolute peace of mind and never-ending fun. Spread over a large part of sand-filled beaches, the Banana Island, according to the promoters, \"makes a dream place to live in.\"

At last count, about 30 buyers have indicated interest in the building through the estate agents - Diya Fatimilehin and Company, who also doubles as the estate managers. Despite the fact that the whole project as contained in the master-plan is far from completion, sources disclosed that the investors who are mainly Nigerians living abroad are eager to take possession. Already, all the simplexes and duplexes have been sold.

Only 64 flats are nearing completion out of 252 flats envisaged in the multi-billion towers, located at the foreshore of Banana Island, Ikoyi, close to Foreshore Road. The flats are marketed in dollars and the minimum rate is $473,500 per flat. However, the prices go up by $12,000 depending on the floor and the least is the first floor.

The building, being constructed by a Lebanese firm, I.T.B Nigeria Limited sits at the end corner of the Southwest side of the Banana Island. Designed by the firm of Architecture in Motion, a ring road is specifically created around the complex, leaving the internal area exclusively for pedestrians. \"Each apartment has the privilege to either an amazing sea view or to the complex\'s soothing inner gardens and main road.\"

Actual construction works had been completed in the first phase of the project, remaining fittings in some of the floors. Officials of the construction company and the estate managers said that the phase would definitely be completed before the first quarter of the year. However, none could give any clue as to when the whole project would be totally completed. Factors like funds and readiness of the owner of the property to go on with the construction work were identified as some of the reasons, an official said.

But when the whole complex is completed, it would be 14 buildings to be positioned in two U-shaped blocks to form together a friendly environment for tenants to socialise, have fun and celebrate. Each block will have seven buildings. These seven buildings are combined in three elements.

Two of them contain three buildings, leaving the seventh independently in the middle U-shape.

Inside the apartment, each of the eight levels is made of either three or four bedrooms. While the tenth and eleventh floor apartments are made of five bedrooms conceived in either simplexes or duplexes. All ground floor levels are used for maintenance, parking places and technical areas. The structure of the interior is designed in modern standards.

The facilities to be within the complex are one swimming pool and a recreational centre. Measures to adequately prevent fire in the complex have been taken into consideration as fire hose cabinet will be provided in parking and at each floor. Water will be pumped from the raw tank by independent pumps and dry riser will be installed with landing valves at each floor.

On telecom facilities, there will be a central PABX connecting apartments; gate maintenance administration with apartments will be built. The plan also includes availability of lighting protection and provision of satellite TV connection in each apartment.

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