By Stanley Opara

Tuesday, 14 Dec 2010

Unity Bank Plc, Standard Chartered Bank, GTHomes and FBN Mortgages have invested the sum of N10bn in the on-going ”La Plage” Lekki Business District project in Lagos State.

The project had Unity Bank as its major financier with N5.5bn facility, the project‘s developers, Uren Stirling Civil Engineering Limited, announced on Monday in Lagos.

Briefing newsmen at the project’s site, the company‘s head of marketing services, Mrs. Temitope Opeaye, said with the banks‘ facility approval, construction work at the site would peak in 20 months.

Located at the Lekki Maiyegun tourism zone of Lagos, the business district will comprise of 4,007 shops and 320 offices, Opeaye said, adding that the shops were being sold ‘‘off plan at a discounted rate till January 2011.”

According to her, individuals, cooperatives and businesses are welcome to be one of the first owners of shops at the new business district, stating that mortgages are available to qualified purchasers through Standard Chartered Bank, GTHomes and FBN Morgages.

Opeaye disclosed that 10 hectares of land had been acquired by the company for the project, which she said was being supported by the Lagos Water Front Development Authority.

She said that the company would also provide in the district a multi-storey car park, a loading bay, refuse and waste treatment plant, entertainment lounge, restaurant, a games arcade and a high-tech security system.

According to her, the district will be serviced with a 24-hour electricity supply from the company‘s proposed $32m independent private gas power plant which will generate 20 megawatts of electricity.

The power project, Opeaye noted, would be financed by the company‘s overseas partners.

Under the second phase of the project, she also said, the company planned to build a five-star hotel, residential estates and a recreation park, adding that the project was in line with the Lagos State government‘s drive to develop world-class infrastructure along the Lekki corridor to promote greater economic activities among its citizenry.

Source: Punch