Business

Construction of Lagos Business City Set to Begin

  • Construction of Lagos Business City Set to Begin

Construction is set to begin on a new city in Lagos known as the Imperial International Business City, a joint venture development between Channeldrill Resources Limited and the Elegushi royal family.

The city, according to its promoters, was conceived after the Lagos State Government gave approval for the expansion of Ikate Kingdom by 200 hectares of land to Lekki Phase 1, through dredging of the lagoon, and is expected to run from the end of Freedom Road to the end of NICON Town.

As the date for the commencement of dredging work approaches, the infrastructure consultants to the project, Mott MacDonald Limited, of the United Kingdom, said a four-day site inspection of the project site had been completed.

The leader of the team, Stuart Croucher, said the visit was to finalise preparations for the take off of construction of the eco-friendly city.

He said the infrastructure design of the city would be based on ensuring that the city was self-sustaining; be a smart and an eco-friendly city; have steady flow of traffic; a flood free lifetime of 100 years; general utility efficiency, and the best technology.

“The city is being designed to align with the future developmental expansion and population growth of Lagos State for the next 50 years. The dream of making this a reality has been further boosted by the Lagos State Government’s 2030 transport vision plans, which will be very useful for the IIBC connectivity design,” Croucher said.

He also stated that part of his firm’s mandate was to ensure that the city was a zero flood zone for the next 100 years, and was already working with Royal HaskoningDHV of the Netherlands as the reclamation and marine consultants to the project.

He also commended the state’s civil service that his team had been working with on the project, adding that they had been very helpful and welcoming.

He said that after seeing the plans and designs, the government had been convinced that the project would fit into the administration’s goal of making Lagos a smart mega city.

The Managing Director of Channeldrill Resources Limited, Mr. Femi Akioye, said the transportation network of the city would promote efficiency within the city and beyond.

He said the design would incorporate footways, and pedestrian cycle connecting the marina to the central business district.

He added, “This will reduce the reliance on cars which in turn reduces the burden added on air quality. Mixed use developments are in line with the sustainability strategy to reduce distance and modes of transport. So, by providing shaded walkways, walking can be made safe under all weather conditions.

“For cyclists, a segregated cycle paths will be built into the transport network to provide a safer environment where residents can feel more comfortable to cycle. The road hierarchy and public realm will also address the safety of cyclists and will aim to include changing facilities within the commercial development in the area.”

He said that for public transportation, the parking capacity would be limited, and people in the city would be connected to decent public transport, which would be easily accessible throughout the island.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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