Developer begins Lagos Royal Residence Estate

By Chinedum Uwaegbulam   |   15 May 2017   |   2:28 am  

The estate with about 54 serviced plots is zoned into five areas; detached zone, semi – detached zone, terraced zone, recreational and commercial zones with the mindset of achieving a certain level of uniformity and ambiance .

Lagos-based private developer, Messrs Obika Realtors Limited has launched a site and services scheme in the Lekki-Epe corridor for the middle class and upwardly mobile professionals who desire to live in a serene environment.

The 10 acre gated community, skillfully planned and laid out with dedicated areas for residential and recreational purposes, located at Eluju town ,Ibeju –Lekki  Local government area, has been christened Royal Residence.

The estate with about 54 serviced plots is zoned into five areas; detached zone, semi – detached zone, terraced zone, recreational and commercial zones with the mindset of achieving a certain level of uniformity and ambiance .


The Managing Director, Obika Realtors, Mrs. Ekamma Ufot said the company will be providing basic infrastructures and services within the estate such as roads ,drainages ,electricity ,water ,security  as well as effective facility management of the sprawling residences  .
According to her, 20 allocations will be made in   the first phase and a subscriber can purchase up to four  plots, which must developed within a five year period .

She told scores of subscribers and stakeholders that witnessed the impressive first phase allocation and sod-turning ceremony that a Deed of Assignment would be given to all beneficiaries when payments are completed.

Mrs Ekamma said the business philosophy of the company is hinged on meeting and surpassing the needs of its numerous clients by simply achieving world class services in the most cost effective and professional manner.

The Managing Director stated that the core value of the firm is to maintain a strong foundation of trust, integrity and professionalism with its clients, a feat that is evident in the Royal Residence estate project.

She stated that the cost of the serviced plots are very affordable, especially taking into consideration the facilities therein, stressing “we are providing this dream environment for less all in a bid to transform the dreams of prospective allottees   to reality “

“We are already getting testimonies from our stakeholders due to our commitment to deliver as promised within the stipulated time frame “ ,Mrs. Ekamma stressed .

One of the subscribers, John Ikomi described the project as a very affordable in view of the infrastructure to be provided. He added that the estate firm had demonstrated honesty and sincerity of purpose coupled with a commitment to ensure that stakeholders dream will be actualised soonest.

Another subscriber, Managing Director, Cordros Capital, Wale Agbeyangi lauded the scheme even as he expressed amazement at the extent and quality of work done on the estate.

The estate is also within Eleko Beach, Amen Estate, the Lekki Free Trade Zone (FTZ), the New International Airport, and Deep sea port. It is highly competitive with other estates within the area due to its proposed standard facilities.


The estates are devoid of any encumbrances from Omoniles or Government. There is also the added value effect of the Free Trade Zone which defines and increases the values of properties within the terrain. The FTZ which is an initiative by the Lagos State government in collaboration with a consortium of Chinese companies has been earmarked to become the new multi-industrial, multi-functional, special economic zone called the “New Lagos”. It is expected to be a self-sustaining model city incorporating modern commercial zones as a catalyst for the economic growth of Nigeria and Lagos in particular.

The area is both strategically and economically planned to be viable and thrive in robust production and manufacturing of goods and services, Oil & gas industry, Imports & Exports trade, marine and shipping activities, Tourism and Real Estate etc.

The LFTZ is a model project for inter-governmental cooperation between China and Nigeria attracting maximized granting of preferential policies and incentives for the investors in the zone and is therefore expected to create a positive neighborhood effect on the value of all property around the area.



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