Notwithstanding the lull in the economy, a new residential and commercial development has kicked off in the Victoria Island corridor, which will encourage home ownership and co-investment in the hospitality environment.
Promoted by Grenadines Homes, the project known as The Oceanna Towers comes as a mixed-use scheme and consists of four towers. The towers are named, the Oceanna Cerulean, the Indigo, the Azure and the Oceanna Aqua. It comprises, hospitality, office, and residential.
The facilities planned for the project include, Gym/Spa, swimming pool and children’s play area among others.Construction works is currently at its peak as Trevi Foundations Limited has done the foundation. The projected completion date is the first quarter of 2021 and third quarter of 2022.
The tower offers about 112 apartments of studio, one bedroom, two bedroom and three bedroom units.The Indigo, is a 24-floor hotel tower building sitting on a footprint of 1,084sqm with branded studio and one and two bedroom units as well as features such as, restaurants, gym, spa, swimming pool, concierge and valet service, meeting rooms, a tennis court, art gallery, and others. The Azure and Aqua towers are to take off later.
Already, Messrs Cappa and D’Alberto Plc has emerged as the main contractor for the project while Ecad Architects in conjunction with HOK architects designed the masterpiece. The structural works is being handled by Morgan Omonitan & Abe Ltd and Tillyard Nigeria, is in charge of the Quantity Surveying components of the project.
An official of the company, Eki Famuyiwa explained that the development is an iconic structure, with a work, live and play environment. She said the hotel part of the project is on offer while the cerulean tower, which is a mixed use, has been fully sold out.
“The edifice is two mixed-use tower and two residential and we have cascaded everything down so that the middle class and even the lower income earners could also be part of it,” she said.
“The co-ownership scheme for the hotel studio is currently priced per unit and each units could be divided into 20 lots (a studio), so that the low-income earners could own properties, as subscribers just have to make commitment of five per cent to be part of the project. There provision for outright purchase.”“The project started in July 2017 and it’s advancing to the fifth floor for the first tower and we’re focusing now on the hotel apartments”, she stated.