Merit Ibe
Chairman, Board of Directors of Coral Beach Estate (CBE) Limited, Dave Inyere, has said the company is celebrating a major milestone in its journey towards providing a safe and luxurious city dwelling experience within the Lekki Trade Free Zone (LTFZ).
Inyere stated this when CBE commissioned its first block of 24 luxury flats apartments, at the LTFZ, Lagos State.
He said the journey started in January 2014, with a trip to the Free Trade Zone (FTZ) by few people, and discovered they could make something out of the forest zone. This made them to form a cooperative and set out to buy the land, and from there, the company took off with a development plan.
“The journey, which started in January 2014 with a trip to the forest by Mrs. Aladesulu, Mr. Uzo Nwosu and Mrs. Bose Odubanjo, has already metamorphosed into the union of 37 visionary individuals (shareholders) spread across various professions and business interests, who saw a modern luxury living where others saw forest and we are here today to celebrate the landmark of successful completion of the first block and utility services out of the planned seven blocks of apartments for construction within the Coral Beach Estate.”
Inyere said the Coral Beach Estate is a real estate outfit incorporated in March 2014, under the Companies and Allied Matters Act 1990 and licensed by the Lekki Free Zone under the Nigeria Export Processing Zones’ Act 63 of 1992 as “A Free Zone Enterprise in Real Estate Category” operating in the Lekki Free Zone.
He said the main objective of the estate is essentially to seek out and develop real estate opportunities in Lekki Free Zone for the benefit of the company and its shareholders, adding that in its business dealings,the company is committed to upholding excellence in service and product delivery, safe work practices and highest ethical standards as well as consistency seeking the best interest of its clients.
Commenting on the impact of the initiative or project on the housing deficit in Nigeria, Inyere disclosed that the initiative is first of its kind in the country and in the zone. He said it will have a good impact in the area for those working in the zone, coming from far to do business.
“When they get apartment in the area while doing business in the free zone, it will enhance their productivity and it will be more operational for them,” he said.
He added that those working at the free trade zone and the environs were the target, instead of wasting man hours in traffic and during the rains, they can stay in the apartments and get to business place in few minutes.
“The apartments are affordable, the prices are moderate and we will discuss and negotiate with any off takers, so that more people can be accommodated while doing business in the free zone.”
Other primary focus of the company, Inyere said included estates, lands, building casements or other interests in residential, commercial, shopping mall and office building in the free zone.
The vision of the company, he enthused, is to provide an excellent dwelling experience anchored on world class service delivery and expertise, and the mission is to be real estate provider of choice known for its pursuit of excellence, reliability, and consistency in delivery of good customer experience.
On his part, Managing Director of Lekki Free Trade Zone Development Company (LFTZDC), Xigong Huang, said the goal of the Lekki Free Trade Zone is to develop the zone into a satellite city, with industrial facilities and infrastructure to attract not just manufacturers but other businesses like the real estate and commercial ventures. As a developer of the Lekki Deep Sea Port, Huang said there is a big demand for the commercial, logistics and the real estate.
For the free trade zone, he disclosed there will be the industrial area for the manufactures, logistic area for industries like assembling and processing companies for petrol chemical products.
He said the coral beach company is the pioneer company of the real estate business in the free trade zone, adding that commissioning the first block of its apartment today is a win win situation.
He disclosed that both the LFTZDC and the developers in the zone have the benefits.
He expressed confidence that the investments will have great potential, hoping that the company will progress in line with the construction of the deep sea port, which will take off in some months time.