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Nigerian Red Cross, Mall D’Oasis begin $26million Ikoyi property redevelopment

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An illustration of the proposed Oasis-Ikoyi, Lagos

Apparently bracing for the current wave of real estate developments in the nation’s commercial capital, the Nigerian Red Cross Society has flagged off the reconstruction of its strategically located property at Eko Akete Close, Ikoyi, Lagos.

The project christened Oasis- Ikoyi, is in conjunction with Mall D’Oasis Limited and comes under a 25 years lease agreement structured as Build, Operate and Transfer (BOT) scheme.

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The redevelopment will result in a distinctive mixed-used real estate development offering about 3,545 square meters and about 100 short/extended stay apartments, under management by an international franchise.

Anticipated to cost $26 million, the structure would consist of five floors of office space, seven floors of extended stay apartments, and a floor for retail space.
 
It is anticipated that the construction, which will be handled by Denver Building, will span 24 months. Other consultants to the project are LYT South Africa and CCP Nigeria.
  
Signaling the commencement of the development last week, a team from the National Headquarters of the Nigeria Red Cross, led by the President, Elder Bolaji Anani, handed over the property to the Director, Mall D’Oasis, Mr. Andrew Haladu, for the commencement of works.

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The redevelopment is a demonstration of the International Committee of the Red Cross’s continued commitment through its Nigeria office to its mandate in the country.
  
The Oasis brand is inspired by the vision to provide a world-class environment that supports good quality living across Nigeria. Oasis-Ikoyi is the second development undertaken by the Oasis brand in its medium-term development plans in Nigeria.
 
The first development, Oasis- Ikeja, another collaborative effort, is a mix of retail, office, and hospitality, which is poised to open to the public in 2021. The Oasis-Ikeja promises a respite from the chaos that is synonymous with Lagos.

Other members of the Nigerian Red Cross present at the handover are the National Finance and Property Management Adviser, Prince Adeqga Oluyemisi; National Legal Adviser, Muaza Dikwa and Administration and Lagos NHQ Liaison Officer, Mrs. Chinonye Ubakaeze.

Also present was Head of Construction, Denver Building, Mr. John Drake.

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