Developer commences mixed-use development in Lagos

In an attempt to meet the housing needs of Nigerians and those seeking investment opportunities in the real estate, a developer has unveiled of new mixed-use development in Lagos.

Tagged; The Bellago Lagos, the firm known as Cavalli Group, said its completion will redefine the Lagos skyline, especially Victoria Island.

The new development, according to the developer is made up of apartments tastefully designed to redefine luxury living experience to the maximum with no details overlooked and no quality spared.

Located onAhmadu Bello Way, Victoria Island, Lagos, its groundbreaking heralding its construction work was performed at the weekend.

Speaking at the groundbreaking ceremony, the Managing Director of the Cavalli Group, Emmanuel Odemayowa, explained details of the project, saying: “The first phase, for which the foundation was laid, include The Bellagio Lagos, the residence, also known as ADRAO Tower. It will be situated at the back and will consist of nine suspended floors. The ground floor will be a recreation area, and the remaining floors will be residential apartments.”

“The second phase, the main Bellagio, comprising the hotel, apartments, and office spaces, will be situated in front, where our show office is being set up. We will commence that second part of the project soon,” he said.

The Bellagio is made up of three iconic towers of 10 floors each, with each tower offering a seamless fusion of space, comfort, functionality and world class amenities including rooftop helipad, swimming pool, a spa, a 24/7 security surveillance, multi-sport court, fully equipped gym, and fully fitted kitchens. Other amenities include a five-star café and restaurant, interior designed by Roberto Cavalli, custom Italian bathroom design, as well as a panoramic view of the ocean and the city.

“The Bellagio Lagos is a one-of-a-kind development that guarantees its residents world-class amenities and a perfect balance between serenity and fast-paced urban living.

“The apartment ranges from the luxury two, three bedrooms to five-bedroom maisonettes. It will house 60 exclusive residences comprising 36 units of two-bedrooms, 18 units of three-bedroom apartments and six units of five-bedroom maisonettes, with each apartment offering grand living spaces that are strategically placed in the corners of the residences to maximise multiple panoramic ocean and citywide views”, Odemayowa revealed.

According to Odemayowa, the project would provide home for those seeking a new standard of city living, a beautiful place they will love with incomparable views and designed to stand the test of time.

“The façade exterior of each tower allows for energy efficiency and adaptability to climate heat conditions. The Bellagio Lagos spares no expenses in the design and provision of topnotch services for occupants to relax and unwind, while having the city at their fingertips,” he said.

For the smart and discerning investor, he added that the new real estate development would present them with a perfect investment opportunity, not only for its prime location, but also for loads of commercial activities within the same vicinity.

“We all understand what the Bellagio brand stands for; it is a prestigious name. Our goal in Nigeria is to represent this brand and see how much of an impact we can make in our environment, providing value, delivering returns to our investors and partners, and ensuring the enjoyment of those who will live here. Bellagio Lagos, known globally for its hospitality, will feature apartments branded as a hotel. Our vision is to offer our investors and residents a permanent vacation experience in their apartments,” he said.

Odemayowa listed some of the benefits of owning the apartments to include high yield rental income that is much higher than traditional rental income in other areas, up to 100 percent occupancy rate due to the high commercial activities in that location and easy access to hot city spots.

In addition, he said, the investor is assured of consistent revenue and cash flow with Air BnB/short let income, as well as high gross capital appreciation and returns on investment.

He said the project is part of its mission to set new standards for luxury living and investment opportunities in the real estate sector.

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