Developers launch Lagos Sapphire penthouses

Property

Amid the need to provide houses for high net worth individuals, developers of the Blue Water estate in Lagos have introduced duplexes in its penthouse apartments that offers top of the world living on its 17th and 18th floors.

Developed and financed by Elalan group and Africa Capital Alliance, the multibillion-naira project is scheduled for delivery by January 2020.

Each duplex comes double height reception and sitting room with large dinning area and kitchen. It also has a master bedroom suite with large dressing area and luxury bathroom.

The project Manager, Elalan, Kenneth Leech at the launching of the housing development, said there are four of the penthouses. He emphasised that the project represents the best of their class in Lagos with the combination of the city and the ocean views.

He said, “ We want people to start moving in from January 2020. We started the project in July 2017. We are already having a high level of expression of interest.”

In his remarks, the Group Managing Director, Ela-ELan, Mr. Andrey Geday lamented that the construction sector experience in the past four years, has been brutal, largely due to the impact of the economic recession on the real estate business stressing it contributed to the slow-down of the market.

According to him, due to the quality of the promoters, the developers have been able to survive the harsh economic realities by getting subscribers quality housing designs at a very short delivery date.

Geday stressed the need for government to provide finance for developers and fix cheap mortgages for the people to be able to buy their own homes.

He further noted that technical education has really disappeared from the country and call on authorities to do something urgent about it.

Prices for the penthouse start from N300million and offers easy down payment plan of 20per cent and quarterly payments over the duration of the construction period.

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