Regents Courts walks into luxury residential market with comfort, splendour
Luxury towers are currently the rave in the high end real estate market. It seems the developers are in competition over who erects the most befitting structure, especially in the city centres of Lagos and Abuja.
In an article for Forbes on the rise of luxury towers, Morgan Brennan stated that there is a skyward race among luxury residential developers. She noted that with the housing market in recovery mode, (2013), developers are taking multifamily buildings to staggering new heights, vying for the title of tallest tower and the prestige that translate into higher returns on investments while delivering the breathtaking views buyers are seeking.
“What developers are looking for is to set themselves apart,” Jerry Randolph, a luxury real estate broker told Forbes, “They are doing this because they can build that tall and capitalise on the land,” he said.
This has also become true in Nigeria before the current slump in real estate market as developers too seemed to be engaged in a skyward race. In the past, towers were basically constructed to provide office space but these days there is a shift to construction of luxury towers even for residential purpose. Also, mixed developments of both office and residential is becoming fairly common.
Regents Court, located in in Ikoyi, away from the bustling Lagos districts fits the bill of innovative construction set to take advantage of the growing luxury residential apartment market.
In major cities such as New York and Dubai, a driving factor for the construction of towers is the finite amount of land occupied by a huge population. This has led to common vertical living, the drive to build the highest homes so as to maximize spaces.
Lagos also seems to have a similar situation. In highbrow areas such as Ikoyi and Victoria island, the limited land size is leading to the construction of towers to maximise work spaces. This has seen buildings progressively going higher and higher to meet the demand for space and luxury.
Luxury towers for both working spaces and residential purposes are springing up. The list includes Nestoil Towers on Akin Adesola in Victoria Island, Ramzi Towers in Ikoyi and the massive construction work undertaken by ambitious ESLA International and Orlean Invest West Africa who are developing the Eko Pearl Towers and the Eko Energy Towers respectively in Eko Atlantic City, Lagos.
Regents Court has also taken up the challenge and completed construction of its luxury tower located in Ikoyi. It comprises 26 three-bedroom (280sqm) and 2 four-bedroom (520sqm) penthouses of very high quality apartment blocks, finished with materials imported from Europe. It is now offering the apartments for sale after months of construction.
The developers say “each apartment offers wide bedrooms and ensuite bathrooms furnished with Class A Italian tiles, fully fitted bespoke kitchens with Italian A Class ceramic flooring, living room and dining area offers stunning views of the serene neighborhood, and standard maids quarters.”
Other features of the tower include first class European materials used throughout and Italian Boticino marble finish. Embedded in the building are facilities for sporting activities and recreation such as tennis court, swimming pool and a modern gym equipped with latest equipments for fitness buffs.
The facility also boasts of two parking space per flat, three elevators, two synchronized 500kva Caterpillar generators, water and waste treatment plants, fiber optic ready fire alarm system and smoke detectors.
ISAAC ANYAOGU