Lagos state is set to get the first-ever multi-level car park and event centre in its Central Business District. The car park is on 5 floors with the event centre on top of it.
The project located on Campbell Street in Lagos Island is a car park designed to accommodate 400 cars and an event centre, stated the Managing Director, Ibile Holdings, Mr. Biodun Amokomow.
Conducting the ground-breaking ceremony in Lagos, recently, the Special Adviser to the Lagos State governor on Global Investment, Prof Ademola Abass, stated that his responsibility was to drive investment into the state, both from within and outside the country, one of which was the car park project.
The Project is a remarkable achievement for the state as it is the first of its kind. It is also a confirmation of the confidence of both Foreign and Domestic investors in Lagos state, he said.
Abass stated that the Multi-car Park takes away traffic from the area of the Mega city. “It is the way to go in a city of 21 million people; a population more than that of several countries combined.”
“The project is a major forward movement in the state, especially working with local investors in the country’s trying period. Though challenges abound, but our investors see opportunities,” he said.
He stated that “there exist plenty of opportunities in Lagos State, which propels the synergy between international and domestic investors. Bringing in as many investment opportunities as possible from all over into the State is our aim.”
He stated that the present administration in the state promised to enhance the ease of doing business by partnering with investors; strong on the application of the Rule of law; protection of citizens, and protection of all investors.
The multi-car park project costs N2 billion investment at ground capital and could go beyond that, he said.
Abass stated that the project is a joint venture between Ibile Holdings, the investment arm of Lagos State, and Willao Nigeria Ltd., Property Developers, through a Special Purpose Vehicle.
According to Mr. Femi Williams, the Managing Director, Willao Nigeria Ltd, the Property Developing Company, the project, which started last month, is to be completed in October next year, adding that there was structured finance between Willao Nigeria Ltd and Ibile holdings.
He stated that the project suits the environment, as it helps to eliminate parking problems in the area, serving Island Maternity Hospital, St Nicholas Hospital, Western House, Independence Building, as well as visitors to the area.
The event centre will seat 1000 guests at the top floor, and it is to promote the culture of Lagos, he said.
Mr. Igbuan Okaisabor, the Vice Chairman, Construction Kaiser Ltd, stated that the car park being built by Construction Kaiser Ltd is to serve the neighbourhood and improve the infrastructure of the area generally.
He stated his delight to be involved in such a big project, as an indigenous company. Adequate security is also provided through CCTV, among others.