Victoria Island gets approval for 30-floor buildings

In a frantic bid to attract private real estate investors and developers into the metropolis, Lagos authorities have zoned some high residential density areas often referred to as High Streets in Victoria Island to accommodate high rise developments of 110 metres (approximately 30 floors). The new move is part of the Revised Ikoyi-Victoria Island Model […]

In a frantic bid to attract private real estate investors and developers into the metropolis, Lagos authorities have zoned some high residential density areas often referred to as High Streets in Victoria Island to accommodate high rise developments of 110 metres (approximately 30 floors).
The new move is part of the Revised Ikoyi-Victoria Island Model City Plan (2013-2033) that specifically earmarked some streets as central business district, mixed-use corridor, hospitality corridor and high residential density.
The Permanent Secretary, Ministry of Physical Planning and Urban Development, Mrs. Boladele Aderemi Dapo-Thomas made this known at the Refined Investor Series organized by Fine and Country in collaboration with the Institute for Real Estate Excellence (IREE) in Lagos.
Areas with the permissible height are Adeyemo Alakija, Idowu Taylor, Adeola Hopewell, Adetokunbo Ademola, Ajose Adeogun and Akin Adesola.
The Refined Investor series, a bi-annual event has this year’s theme as Building the Future – Where Do Skyscrapers Comes From? She disclosed that the proposed physical development strategies are aimed at revitalizing some areas while concurrently improving its infrastructural services to sustain and support the densification.
Dapo-Thomas said the challenges confronting siting and effective operation of skyscrapers include: adequate and constant power supply, adequate infrastructure to support the smooth operation of a skyscraper, for example, standard roadways, parking facilities, services, and prompt response from fire service agency in case of fire outbreak.