An exquisite development, The Oceanna – born of the Ocean, is springing up at the Atlantic Oceanside in Victoria Island, Lagos. The promoters, Grenadines Homes conceived it as a show of ambition and clear redefinition of luxury. Bennett Oghifo reports
Forty years after the development of the Nigeria’s iconic National Theatre building in Lagos, the nation is yet to have another that triggers immediate recognition and respect.
On account of this, Grenadines Homes, a member of the Palton Morgan Holdings decided to employ its private initiative to attempt to redefine and improve on the Lagos skyline and the Nigerian national identity, according to officials of the company.
“We looked at Nigeria in the comity of nations and asked ‘how do we make our little contribution to dignifying her and contributing to the economy from our segment?’ The dream is to hoist the green-white-green proudly high among other national iconic projects that distinguish their host countries,” said Adeyinka Adesope, Group Managing Director, Palton Morgan Holdings, who shared the vision behind The Oceanna.
Armed with this dream, Grenadines Homes’ management had to study the Nigerian estate industry in comparison with what shaped other countries’ image profiles via the skyline and opted to trust the Nigerian dream to globally proven professionals and consultants.
Adesope explained that “having grown up knowing the national theatre as Nigeria’s landmark identity and watching it lose flavor to quality management, got us thinking about how to deliver a befitting landmark development, to fuel national pride, aspiration and help discerning people find their place in history. That’s what gave birth to The Oceanna.”
This idea, already entrusted to leading and proven professionals and consultants across the world has come with its little pleasant surprises. The mixed development, comprising commercial, recreational and residential, is already a proven commercial success guaranteeing investors mouthwatering returns.
The Group Managing Director, while discussing the investment explained that the “Real estate research done reveals that hotel investments offer double digits returns as high as 12% unlike the traditional buy-to-let which gives 5-6% annually, giving you the avenue of a quick and shortened payback period of 7-8 years. “This investment gives the opportunity of owning hotel at the fraction cost of building an entire tower. It is an innovative concept brought into Nigeria because of its unique and superior returns to discerning investors. More so, the hotel will be managed by a 5-star hotel brand; you can be sure of a guaranteed income.”
The vision being breathe into life by proven consultants like designers, HOK Architects (famous for their work on Dubai Marina and the Emirates Stadium), is being branded by Brash Brands Consultants, (known for branding the world’s tallest building – Burj Khalif, Dubai), is being crafted by, Cappa & D’Alberto, a leading construction firm in Nigeria.
The first phase of the project, covering 20,000 square meters of land took-off with design in the third quarter of 2015. It will be made up of four towers of mixed-use development, serving residential, commercial and recreational purposes.
The Oceanna project has a built-up area of about 40 per cent, leaving ample surrounding for greenery and circulation, to suit the lifestyles of the accomplished and attract the discerning.
He said, “All these reinforce growing optimism in the industry that when completed The Oceanna would the most iconic structure in Nigeria, relieving the national theatre of the burden of defining and representing the national skyline globally.”
He said Grenadines Homes is a real estate development company dedicated to reinventing the concept of property investment in Nigeria. “The company aims to create estates at the forefront of cutting-edge architecture, thereby building homes that represent luxury and high class which suits varying tastes and preferences.”
The company is currently developing several residential projects in Lagos and Abuja, Adesope said.