A property firm, Makarios Luxury Properties Limited, has stressed the need for strict adherence to building standards to curb structural failures and tackle Nigeria’s housing deficit.

Chairman of the firm, Matthew Ashimolowo, made the call during the launch and groundbreaking ceremony of Makarios Champions Place and The Villagio Apartments in Lagos.

Ashimolowo said developers must prioritise quality construction, noting that Lagos is projected to become one of the world’s largest cities by 2050, with an estimated population of about 40 million.

He added that the city’s expanding economy presents significant opportunities for real estate investment, particularly for Nigerians in the diaspora seeking reliable housing options such as short-let and short-stay apartments.

According to him, Lagos accounts for a substantial share of Nigeria’s economic activity, contributing about 60 per cent of business operations and over 65 per cent of Value Added Tax (VAT) revenue.

Makarios Champions Place, located along the Lekki-Epe Expressway, spans about 23 hectares and comprises between 450 and 470 plots, with about 70 already subscribed.

The development is designed to feature 11 high-rise towers of about 10 floors each, offering between 16 and 22 apartments per building, including two, three, four and five-bedroom units.

Planned infrastructure within the estate includes a water park, gardens, retail mall, restaurants, entertainment centres, central sewage system, steady water supply, waste management systems, recreational facilities, solar-powered electricity and an interconnected road network.

Ashimolowo emphasised that the company’s reputation is tied to delivering safe and durable buildings.

“We are committed to maintaining standards. We have a name to protect, and we will not build structures that could fail. Each building will be supported by deep piling systems to ensure structural integrity,” he said.

He explained that the estate is designed to promote community living, built around the concept of “family, friendship, fun and football,” while The Villagio Apartments will offer a more compact luxury option within the larger development.

Chief Operating Officer of the project, Oluwafemi Odunlami, described the groundbreaking as a major milestone, signalling the transition from planning to execution.

“We are not just unveiling projects; we are demonstrating our commitment to delivery. These developments represent opportunity, quality and forward-thinking investment,” he said.

Also speaking, Managing Director of the firm, Oluwafemi Adeniba, said the company is adopting global best practices to address Nigeria’s housing challenges.

He noted that the focus extends beyond construction to building integrated communities that combine security, functionality, serenity and long-term investment value.

Stakeholders say the development reflects growing efforts by private sector players to bridge Nigeria’s housing gap while improving standards and restoring confidence in the real estate sector.

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The Lagos State Government will begin construction of the $3 billion Green Line Rail project in December 2025.

Commissioner for Transportation, Oluwaseun Osiyemi, confirmed this in a statement on Monday, describing the Green Line as one of the state’s most ambitious transport projects.

The 70-kilometre rail line will connect Marina to the Lekki Free Trade Zone, with 17 stations across Victoria Island, Lekki, Ajah, Sangotedo, and Epe. Construction will be carried out in two phases—first from Lekki First Tollgate to Epe, then from Marina to Lekki, partly on water.

Osiyemi said feasibility studies and stakeholder consultations had been completed to minimise disruption. Preparatory activities are underway, including clearing illegal structures and relocating traders along the Lekki-Epe corridor.

Designed to ease chronic traffic congestion, the Green Line will cut travel time between Marina and Epe to under one hour. Trains will run every three minutes, carrying up to 35,000 passengers per hour in each direction.

The project, valued at ₦4.5 trillion, will be executed under a public-private partnership with China Harbour Engineering Company. The Federal Government has committed ₦146.14 billion as counterpart funding in the 2025 budget.

Experts have commended the initiative but urged the government to review station spacing and expand capacity to meet future demand.

According to Osiyemi, the project will boost economic growth, create jobs, and improve the overall quality of life across the Lekki-Epe corridor.

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