Kajola Investment Plc and Animasaun Group are set to deliver the Kajola Terrace Apartments, which comprises 12 units of four-bedroom flats in Ikeja, GRA in the next 18 months.
The project is a joint venture between Kajola Investment which provided the land and the Animasaun Group brings its expertise into play in the area of funds mobilisation and construction.
The Chairman, Kajola Investment Plc, Prof. Wale Omole, said during the turning of the sod of the luxury terrace apartments on Tuesday in Lagos that the partners have equal stakes in the project.
According to him, the Kajola Terrace Apartments come with unique features that stand each of the units out.
He said each unit would have four bedrooms and a servant quarter, adding that “the target of the project is top executives and high profile individuals with luxury taste, as well as expatriates and corporate institutions.”
“In designing the estate, careful attention has been given to parking facilities, setbacks, airspaces, height regulations, space control, safety regulations, landscaping, recreation area and waste management system, among others,” Omole said.
He described the apartments as a test case, following which the company would move into the low income housing segment in some parts of Lagos, and later, Abuja.
On his part, the Managing Director, Animasaun Group, Dr. Dapo Animasaun, said the indigenous firm of developers decided to go into the partnership because of its belief in the viability of the project.
According to him, the serene location of the project will make it an easy attraction for upwardly mobile executives, who desire good life and value good taste and choice.
He was, however, silent on the amount to be expended on the project and the price at which each unit would be sold.
Animasaun said his firm would complete the project within 15 months, following which Kajola Investment would begin the sale of the own units.
He said his company saw it as “a delightful joint venture project” because of the calibre of people behind Kajola Investment.
“These are people who have seen it all and do not feel threatened by our ideas. On our part, we see this partnership as an opportunity to align our vibrant ideas with the experience of the promoters of Kajola Investment,” he said.
