Real Estate

Gracefield Island: Expanding focus with priority on environment enhancement


October 3, 2017 | 1:38 am
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The new island community gradually but surely rising out of the lagoon, Gracefield Island, continues to reaffirm its commitment to getting it right in every aspect by ensuring that its reclamation level is more than two metres above the lagoon waterline.

A forward looking new island development initiated and being implemented by Gravitas Investments Limited, Gracefield is a luxury development, so far, the first of its kind in Nigeria which could only be likened to the Palmtree Island in Dubai, the sizzling real estate destination in the United Arab Emirate.

The promoters are, increasingly and consciously, expanding the focus of the island to ensure a safe and enhanced environment for its residents. Its engineering drawing has, therefore, been revised and updated and, according to Jumoke Owoyeye, the site administrator who shared this with stakeholders, flood studies on the island have been conducted to project up to 100 years ahead.

“Gravitas and its joint venture partner, Lagos State government, have made it a priority to ensure enhancement of the environment and also that the project has positive social impact”,  Owoyeye assured in a statement obtained by BusinessDay from the company.

The state government, she disclosed, has shown commitment to constructing a regional road that will stretch across a distance of 8.2 kilometres from HTC to Lekki Phase 1, hoping that with this, access to other parts of Lekki Peninsula and Ikoyi will no longer depend on Lekki-Epe Expressway. “Gracefield residents and businesses will now have a modern, 8-lane highway to serve their immediate road transportation needs”, she noted.

A consortium of investors has committed to the development of a multi-use facility for conferences on a prime site on the Gracefield Island. To this end, a major infrastructure consulting firm in the UK is developing the concept from drawing board to implementation plan.

Recently, Gravitas surprised stakeholders when it unveiled its complex site office buildings which are nearing completion. Ozo Nwafor, the company’s resident urban planner, observed that a key advantage of the Gracefield Island was the quality of reclamation work which means the compaction rate was very good and the load bearing capacity of the land supports construction work on buildings of significant height within few months of reclamation.

Lagos as a cosmopolitan state will continue to lead the way in infrastructure development in Nigeria, with projects such as Gracefield Island.

When Bashir Ahmed, the British Deputy High Commissioner to Nigeria, led his country’s Director of Trade and Commerce on a visit to the island community’s  reclamation and development project, he described it as “an ambitious project”, hoping to see a number of British companies  coming here not just to set up businesses but also to make a difference.

Olufemi Babalola, Gravitas chief executive, while welcoming the British delegation, expressed satisfaction that Lagos State was particularly fortunate to have bold and progressive governors.  “This project presents a unique opportunity with  multiplier effects on the economy”, he said, citing examples of several technical partnership and development relationships that were driving progress on the new Island community even at its early stage of construction.

Located at the end of Chevron Drive  (Lekki Phase 2), just 900 metres off Lekki-Epe Expressway, the island is planned to sit on 100 hectares of land and connected to Lekki by its own highway. It will provide not only a serene atmosphere for residents and a conducive environment for commercial entities, but also fabulous opportunities for investors.

Babalola had, In an earlier report,  noted that  Lagos  was set to witness a fundamental positive shift in new city development and real estate construction given that Gracefield is 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 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.




October 3, 2017 | 1:38 am
  |     |     |   Start Conversation

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