AN ambitious real estate project, classified under the new neighborhoods, christened as Orange Island, to cover 150 hectares of land, located within Lekki corridor in Lagos State, is already underway.
The project to be delivered in two phases has been described as one of the means by which the Lagos State Government intends to transform the landscape of the state into a more organized and structured mega city.
Orange Island, which is synonymous to Eko Atlantic City project, is a newly berth planned city on the Lagos lagoon, estimated to N40 billion and to accommodate 25,000 population when it is eventually delivered.
Brokered under a Public Private Partnership (PPP) initiative, between the Lagos State Government and the developer, Orange Island Development Company (OIDC), the project involves the dredging of sand from the bed of the Lagos Lagoon, reclamation of a 150-hectare island, construction of an access land bridge and infrastructure to service the island. The Project will eventually be a fully serviced; community located 450 meters off the headland next to the existing Lekki Phase 1 foreshore reclamation project.
According to the project layout, the total land mass has been apportioned into different land use purposes including mixed use, 8.4209 hectares; utilities, 2.4239 hectares; educational and public facilities, 5.3146 hectares; business and commercial, 8.0676 hectares; medium density residential, 17.7143 hectares; low density residential, 58.9520 hectares; green and public open space, 15.6563 hectares; and road reserve, 33.4504 hectares.
The layout of the Island will comprise four main schemes made up of residential, commercial, services and recreation/sports zones. The services provided will include electricity, water and sewage system. The Island will be accessed via a dual carriage way located at the end of Admiralty Way in Lekki Phase 1.
Orange Island will be one of the new satellite towns that will be developed in the Lekki, Badagry and Ikorodu districts of Lagos State over the next few years. To this end a Memorandum of Understanding between Lagos State Government and FW Dredging (Sponsors of the project) was signed in January 2013. A Public Private Partnership (PPP) concession agreement will be signed in due course. A special purpose company, Orange Island Development Company was formed for the purpose of owning, developing and operating the project. A joint venture agreement with the Lagos State Ministry of Waterfront Infrastructure Development was signed on 9th January 2014.