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The Lagos-Calabar Coastal Highway is opening up new opportunities for luxury real estate development along the Victoria Island axis, prompting property developer Palton Morgan to invest in high-end residential and mixed-use towers to meet growing housing demand in the area.
The company said it conceived a cluster of premium developments to cater to demand for upscale homes and mixed-use facilities.
Speaking during a media tour of its residential and mixed-use towers along the coastal highway corridor, the Chief Marketing Officer of Palton Morgan Holdings, Ikechukwu Ugwu, described the Lagos-Calabar Coastal Highway as Lagos’ new Victoria Island.
Ugwu added that part of the reasons for the tour was to build a strong relationship with the media, noting that the firm also intends to amplify discussions and conversations around the coastal area. “A lot of people do not know that big things are going to spring up from this location. We are hoping that your community will help us to start writing about the area, just to sensitise people that that is the new Victoria Island, because of the level of work going on there,” Ugwu said.
He further said, “With luxury real estate increasingly blending local heritage with global design influences, creating unique, destination-specific luxury experiences in residential properties, Nigerian firms are also influencing the market, offering investors and home buyers enhanced value propositions. Palton Morgan, which unveiled its new mixed-use development that comes with opportunities for living, working and playing, is known as Paramount Twin Towers (PTT). It is a testament to the holding company’s commitment to crafting exceptional properties that epitomise elegance and luxury living in line with its luxury real estate development brand that sets the benchmark for opulence, innovation, and quality”.
Ugwu stated that the project started before the Coastal Road, adding that the introduction of the Coastal Road development brought a lot of advantages to properties within that axis. “If you recall, when the conversation around the Coastal Road started, a lot of developers had to hold on a bit to understand government direction around the Coastal Route. But I will tell you, in terms of immediate impact, it has, of course, not only impacted on the Paramount twin towers but every development happening in that axis because it further opened that location and made it more attractive and desirable,” Ugwu said.
He stated that Palton Morgan has presented this as its latest rendition to be known as Paramount Twin Towers (PTT). “The building, which is in the heart of Lagos metropolis, is an opportunity for home buyers and investors alike to experience 5-star living at its best. The PTT, described as Lagos’ new standard for luxury living, is being developed by Grenadines Homes, a subsidiary of the Palton Morgan Group. It is a new collection of premium 2-bedroom apartments that are typically larger than the regular 2-bedroom units and come with two living rooms and two terraces.
Ugwu stated that the twin towers offer residents a true 5-star living experience, which aligns seamlessly with the theme for its campaign: ‘Experience 5-Star Living by the Ocean’ which the developer has achieved by providing the kind of luxury experiences people get when they stay in premium hotels all over the world.
