The Elegushi Royal Family has revealed their plans for the establishment of a $300 million new Imperial International Business City (IIBC).
The new 200 hectare city will be built on reclaimed Lagoon extension of the kingdom and will also be the first eco-friendly smart business city in Africa.
Oba Saheed Ademola Elegushi, the Elegushi of Ikate Kingdom laid out his vision about the city in his palace while receiving some American investors interested in the project.
He said the idea of a smart business city will address the perennial housing deficit in Lagos state and also change the landscape of real estate in Africa.
The project will be a Joint-Venture between the Royal Family and Channeldrill Resources Limited and will commence in April 2016 with land reclamation.
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