Cappa & D’Alberto picked for N40b Atlantic Resort project
Plans by Grenadines Homes to kick-start its flagship project known as Atlantic Resort, got a boost recently with the selection of building and civil engineering firm, Messrs Cappa & D’Alberto as the main contractor for the N40 billion project.
The project expected to commence in November this year, was conceived in response to the demand for Grade A office spaces which continues on an upward trajectory due largely to the size of Nigeria’s Gross Domestic Product (GDP), growing population, emerging middle class and more specifically the thriving business environment in Lagos owing to economic activities in the state.
Besides, there has been an increase in the number of global firms venturing into Lagos. Consequently, investment into mixed used developments has become a viable venture, as global firms gaining inroad into Nigeria market elect to have there executives who are majorly expatriate in close proximity to their working place.
Speaking at the signing of the Memorandum of Understanding (MoU) between Grenadines Homes and Cappa & D’Alberto in Lagos, the Chairman of Palton Morgan Holdings, the parent company of Grenadines Homes, promoters of the resort, Femi Banwo, said upon completion, the project will deliver a world-class luxury edifice comprising four towers, outstanding hotel, restaurants, shops and retail outlets.
“It is going to be the best thing coming from Nigeria and out of this world, a serene environment with school where you can live. We have selected the best partners that worked on the best projects of the world like Emirates Stadium, to work on the project to inspire hope and pride in the country,” he said.
He explained that some of the money for the project would be sourced locally and offshore, adding that more Foreign Direct Investment (FDI) would be coming into the country through the project.
In his remark, the Managing Director of Grenadines Homes, Adeyinka Adesope, stated that the vision of the company is to build a first class project that would re-write the history of Nigeria and unleash the economic potentials that would attract more tourists into the country.
He said, “we expect them to deliver the first phase, a 20-storey building in 18 months but the whole four towers may take up to three years. We are confident that Cappa & D’Alberto, an indigenous company that has been in Nigeria since 1932, will deliver on time to specification,” he said.
“Brash Brands, the creative branding agency that breathed life into the tallest building in the world, Burj Khalifa Dubai, is defining the unique personality of the Atlantic Resort for attraction, sustainability of value and class for would-be investors and home owners.
Dubbed as the most iconic destination for work, live and play in Africa and a symbol of excellence, the project is to be built on 3.4 hectares of land on Water Corporation Drive, off Ligali Ayorinde Street, Victoria Island, Lagos and will comprise one commercial tower and two residential towers overlooking the Atlantic Ocean.
The residential tower is made up of unit types 1 and two bedroom apartments, three bedroom maisonettes, one unit four bedroom terrace apartment and two, five bedroom penthouse maisonettes.
The project is conceptualised by the United Kingdom arm of HOK, the largest architectural and engineering firm in America working in conjunction with ECAD Architects. HOK Architects is reputed for its design of the master plan for Dubai Marina.