To address Lagos State’s housing deficit, Megamound Investment Limited and Crown Exquisite Homes and Property Limited, in partnership with the Lagos Building Investment Company (LBIC) have successfully delivered 442 housing units in Surulere and Iponri areas of the state.
The development in the Obele-Oniwala community of Lawanson by Megamound Investment Limited, known as ‘Greater Lagos County Apartments,’ transformed a former 3.7-hectare dumpsite into a residential complex featuring 378 apartments across 21 blocks.
The scheme comprises 102 three-bedroom, 228 two-bedroom, and 48 one-bedroom apartments, with 18 blocks on six floors and three blocks on four floors. The blocks are named after five Lagos districts, including Yaba, Magodo, Ogudu, Obalende, and Obele, as well as Megamound and LBIC.
The estate boasts of modern urban infrastructure with well-paved roads. A key design feature is the open-plan layout of the one- and two-bedroom apartments, complete with in-living room kitchenettes, emulating contemporary European styles. Each apartment includes a furnished show unit, with high-end finishes such as granite-topped kitchen cabinets, tiled floors, wooden doors, and expansive aluminium casement windows. Three-bedroom units come with double terraces.
Residents will enjoy a range of amenities including a shopping centre, multi-purpose sports court, children’s playground, water reservoir and treatment plant, a powerhouse, and 24-hour security within a fenced perimeter featuring four gated entrances.
The project by Crown Exquisite Homes and Property Limited consists of a 64-unit four-bedroom maisonette on 7,000 square meters at Olaleye New Town Estate, Iponri.
Speaking at the commissioning of the estates, Lagos State Governor, Babajide Sanwo-Olu hailed the projects as transformational.
“Today, we are witnessing the realisation of part of our housing vision with the delivery of 378-unit and 64-unit apartments in Surulere and Iponri. These developments not only provide quality homes but also generate jobs, empower local businesses, and contribute to a greener, and more sustainable Lagos,” he said.
The governor said the projects reflect his administration’s greater Lagos housing template focused on inclusivity, affordability, and environmental sustainability. He assured that similar developments are ongoing across the state, promising that no community would be left behind.
Lagos Commissioner for Housing, Moruf Akinderu-Fatai, reaffirmed the government’s commitment to quality housing, stating that the apartments were built with eco-friendly materials and modern architectural designs.
LBIC Managing Director, Mr Olusola Faleye, described the delivery as a new era of hope and opportunity and lauded the private sector partners for their professionalism.
Chairman of Megamound Investment Limited, Mr Olumide Osunsina, highlighted that the Obele-Oniwala project reflects over five years of dedicated work, and aligns with the state’s vision for a 21st-century economy.
“This development sets a new standard for urban housing in Surulere,” he noted, “The estate has already spurred over 300 per cent increase in property value over five years, a testament to its economic impact.”
Chairperson of Crown Exquisite Homes and Property Limited, Mrs Adebukola Okusaga underscored the role of housing in sustainable development.
