Orange Place, prime revelation in Ikoyi residential market

Due largely to high cost of land and the need to maximise space, Ikoyi, an upscale neighbourhood in Lagos, is witnessing massive development of luxury residential apartments, many of them rising five to 10 floors in awe-striking architectural designs etched in real time technology.

A walk through Bourdillon, Alexander and Gerard Roads in this neighbourhood leaves no one in doubt that the pendulum of real estate demand is gradually swinging towards residential luxury apartments because there is no urban location where this high-end need is met better than this place.

It is in this highbrow area that Orange Place, an outstanding contemporary residential development, is located, providing unbelievable views of the Ikoyi Golf Course and the Lagos Polo Club.

According to officials of Orangeline Limited, developers of this edifice, this development which is driven by design is already a success having achieved 90 percent occupancy within one year of completion.

“Orangeline Limited will, in the second quarter of 2014, unveil, among others, three more apartment schemes including a waterfront development in the Ikoyi area; each of these will build on the pedigree set by Orange Place,” they disclosed in a statement made available to BusinessDay.

The statement reveals further that these new projects will be executed by Orangeline Limited in conjunction with PM+CDC as project architect/consultants, JS Realty as sales and marketing consultants, Olatunji Abisoye Associates as structural engineers, and Izmir Advisory Services as project advisors.

“For a development to have achieved 90 percent occupancy within one year in a market that has seen high vacancy rate speaks volumes of the kind of product we have put on the market place”, the statement notes, explaining that apart from its rich architecture, Orange Place parades modern facilities befitting its high net-worth residents.

By: Chuka Uroko