Featured
Collapsed Ikoyi building was going for N2.85 billion per apartment
Luxury apartments in the 21-story building that collapsed on Gerrard Road, Ikoyi, Lagos, were being sold for $5 million (N2.85 billion at the prevailing exchange rate of N570/$) per apartment, according to online listings.
A flyer designed for the residential facility indicated that 65 per cent of the penthouses valued at $5 million each had been sold before its collapse.
However, other listings indicated that there were other low-ranged apartments listed for $1.2 million (N684 million).
An online flyer pitched the building as “Luxury in the Sky.” It was 80 per cent completed prior to the collapse and was expected to start running in 2022.
It was unclear when construction began at the site. Some parts of the 21 floors were said to be reserved for office spaces, but it was unclear how many. A spokesman for Fourscore Heights Limited that owned the building could not be reached for comments on Monday evening.
The collapsed building was one of the high-rise structures that had sprung up to bedeck the skyline of Lagos’ exquisite Ikoyi neighbourhood in recent years. Scores were feared trapped on the construction site on Monday afternoon, after the building which has been under construction for two years collapsed.
Although it is unclear how many people were trapped in the building, National Daily reports that the owner and some other workers were inside when it collapsed.
Lagos emergency service said at least over 15 lifeless bodies including the developer, has been pulled from the rubble as of today , and search and rescue have intensified for the remaining victims.
Its component was “open outdoor recreation with outdoor Television Gym Etc, Swimming Pool, four Bedroom maisonettes, flats, duplex, and penthouses,” according to its promoters.
-
Latest5 days agoCole-Alegbe unveils memoir, urges leaders to harness technology for lasting impact
-
Business1 week agoX3M Ideas donates 50 Walkie-Talkies to strengthen security operations in Onigbongbo
-
Business3 days agoNigeria records N12.59trn trade surplus in Q2 2026 — NBS
-
Business3 days agoNigerian Breweries’ H1 profitability strengthens as revenue hits N804bn
-
Business5 days agoJetour G700 PHEV Storms Abuja as Jetour Nigeria Takes Luxury Mobility Showcase to FCT
-
Featured2 days agoPeter Obi, Makinde and the 2027 elections: Can unity really challenge APC?
-
Business1 week agoRising crude prices threaten fresh petrol price hike in Nigeria
-
Business6 days agoMultinationals exit Nigeria as economic pressures reshape business landscape


