Collapsed Ikoyi Building Was Going For N2.85 Billion Per Apartment

Luxurious flats within the 21-story constructing that collapsed on Gerrard Street, Ikoyi, Lagos, had been being offered for $5 million (N2.85 billion on the prevailing trade price of N570/$) per condo, in line with on-line listings.

A flyer designed for the residential facility indicated that 65 per cent of the penthouses valued at $5 million for one had been offered before the building collapsed.

However, many other listings indicated that there have been different low-ranged flats listed for $1.2 million (N684 million).

A web-based flyer pitched the constructing as “Luxury in the Sky.” It was 80 per cent accomplished prior to the collapse and was anticipated to start out operating in 2022.

It was unclear when work started on the site. Some parts of the 21 flooring had been mentioned to be reserved for workplace areas, but it surely was unclear what number of. A spokesman for Fourscore Heights Restricted that owned the constructing couldn’t be reached for feedback on Monday night.

The collapsed building was one of many high-rise constructions that had sprung as much as bedeck the skyline of Lagos’ beautiful Ikoyi neighbourhood in recent times. Scores had been feared trapped on the development web site on Monday afternoon, after the constructing which has been below development for 2 years collapsed.

Though it’s unclear how many individuals had been trapped within the building, social media accounts mentioned its owner and another staff were inside when it collapsed.

Lagos emergency service mentioned at the least three our bodies had been pulled from the rubble as of Monday evening, and search and rescue have intensified for the remaining victims.

Its part was “open outdoor recreation with outdoor Television Gym Etc, Swimming Pool, four Bedroom maisonettes, flats, duplex, and penthouses,” according to its promoters.


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Chukwu Ebuka
Chukwu Ebuka is a news editor, and Certified Blogger, Ecocitytvnews.