Megamound Set To Transform OWOROSHOKI

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Have you been to the Oworoshoki area of Lagos lately? Or have you notice that there is ongoing construction of fences while descending the Third Mainland Bridge, on the right side of the bridge? well, the big story is there is a massive development going on. Presently, a lot is happening in this area, as top property developers are now working there on their new projects. One of the notable names is Megamound Investment Limited, and this real estate company is set to commence a housing estate there.

City People has been there on a number of occasion in the last few months, and what we found out was fascinating and appealing, especially to every postential home buyer.

First, there are hundreds of empty reclaimed lands in Oworoshoki, Lagos that are currently for sale. These lands are ‘newly’ sand-filled areas beside the lagoon, to be precise. However, in the last few months, a particular real estate company has been doing exceptionally well. The company has acquired several hectares of land. Some of the lands are currently fenced, while others are not. Some of these recent developments can be seen from afar, even from the popular Third Mainland Bridge.

We gather that Megamound Investment Ltd will commence real housing development soon, a project that will change the face and perception of Oworoshoki from what it has been known for. We were told it’s going to be smart and luxury homes for the rich and middle-class.

This real estate company is actively involved in development projects within the Oworoshoki area of Lagos, specifically featuring the Oworo Foreshore project as part of their portfolio. The development, often referred to within the context of the Oworo Foreshore, includes residential, commercial, and mixed-use options designed with modern infrastructure. The project is part of a broader initiative by Megamound to develop premium, often waterfront locations across Lagos.

We can tell you that Oworoshoki is the real deal now for developers like Megamound. In fact, many of them believe that Oworo, as it is popularly called, may be the third phase of the Gbagada estate in the coming years. This statement is beginning to manifest as many real estate projects are springing up in the area.

Oworoshoki is a suburb in Lagos State and is pivotal to Lagos State as it connects the mainland and island areas of Lagos via the Third Mainland Bridge. It also hosts a Terminus.

Oworonshoki is a fully residential area with a high population density. The layout of the area can be rated as average with fair accessibility. The major road that leads into this area is Diya Street from Ifako Gbagada, but alternatives have also been suggested to further enhance the development of the axis. Oworonshoki can almost be seen as an island, as it is surrounded by the Lagos Lagoon. Many Lagosians consider Oworo (as it is preferably called) to be the center of Lagos State because it is well positioned, making it easy to reach every other part of Lagos from this area. Oworonshoki is one of the few locations in Lagos where, within a 7-minute drive, you can reach the International Airport in Ikeja, and you can connect to the island with a 10-minute drive. Many real estate investors believe that Oworonshoki is even more central than the popular Gbagada Estate. They say Oworo is easier to connect from the Third Mainland Bridge than Gbagada Estate. Some even claim that Oworonshoki offers faster access to Ikeja and the airport. We can confirm that all these reasons mentioned above are true. What has also attracted many investors to this area is the ocean view factor, which is a selling point for real estate developers. In the last few years, reclamation of the lagoon has also been ongoing, and land is now available for investment there. However, it now seems that the major players in the Lagos property sector have stepped in, pushing others aside for a real transformation of homes like never before.

Megamound was registered at the Corporate Affairs Commission in 1992 with Registration No: RC 205724. Since its incorporation, the company has carved a niche for itself particularly in the areas of construction, real estate development, management, dredging, and financial intermediation. Winner of the Direct Marketing Award, the company has a proven record of being well-equipped to offer high-quality services effectively and efficiently. Megamound’s success story is a testimony to its stable, dynamic, and well-focused Board and a deliberate policy of putting the right people on the job. The company has, at various times, collaborated with other companies such as Pelfaco Nigeria Limited in the execution of some African Development Bank (ADB) assisted projects: Provision of streetlights for Akure Township, Ondo State, and provision of pipe-borne water for the indigenes of Enugu and Benue States. The company is actively involved in dredging activities, including stockpiling saleable sand at sites in Majidun, Ikorodu, Ibeshe, Ajah, and Badore in Eti-Osa Local Government Area of Lagos State.

Megamound has also been involved in real estate development projects, which include the Nicon Lekki project, Carlton Gate Estate, and Lekky County Homes Estate, to name a few. The company has recently acquired a lease for property at Oniru Estate, where it is constructing a six-storey, five-star hotel. Otunba Olumide Osunsina is the Managing Director and CEO of Megamound Investment Limited.

Isaac Abimbade

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