ACA’s real estate fund, CAPIC (Capital Alliance Property Investment Company) has exited its investment in Lekki Blue Water, a multi-use 17-storey residential apartment complex situated in the heart of Lekki/Oniru’s thriving residential area of Lagos state.
The investment was made in partnership with El- ALAN, a property development company. The complex comprises 124 residential units and 2 commercial units and was developed to cater to the needs of Nigeria’s middle-class demography. The final concept includes commercial spaces, underground parking as well as a swimming pool, basketball and tennis courts, a children’s playground, and a recreational park.
Lekki Blue Water has been recognised for the sustainability of its design and its support to local industry. The development has contributed to alleviating the shortage of affordable housing in Nigeria and was constructed in compliance with green building standards which are integral to the real estate sector’s contribution towards a sustainable future.
The complex is certified by the IFC’s EDGE (Excellence in Design for Greater Efficiencies) program. According to the certification, the development saves 27% in energy consumption, 28% in water usage, 46% in construction materials, and 90% of the materials used were sourced locally.
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