LSDPC, Senkay in N4.8b VI's Kanti Towers

IN a joint effort to increase commercial office spaces in the metropolis, Lagos State Development and Property Corporation (LSDPC) has began construction works in its 15 storey structure in the heart of Victoria Island.Coming as public private partnership initiative, the project is in collaboration with a private firm, Messrs Senkay Nigeria Limited.Works at the 1,362 square metre high rise building in Ademola Adetokunbo Street, named Kanti Towers, is progressing as schedule. Conceived as an office accommodation, the structure comprises 15 floors of office space, one basement floor and car park spaces. The Guardian also gathered that the total project cost is estimated at N4.8 billion including land acquisition costs with the construction period set at 30 months.Messrs Cappa and D'alberto Plc is spearheading the project as main contractor, while Skye Bank is providing the finances with AZDEC ASC as the architects, Livingstone Consultants (structural engineers) and Rabiu Mid Associates (quantity surveyors)The complex will comprise 15 floors as well as one basement floor of car parking. A will be a total of 14,704 square metres built up spaces and 5,776 square metres lettable spaces. Cappa and D'alberto Plc were appointed as contractor is expected to handle the construction of the carcass and supervise the installation of services and finishes. The contractor moved to site in September 2010 and expected to finish within 18 months. While the whole the project would take 24 to 26 months to be completed.The project according to middle-market boutique investment banking firm, Misadvisory, will be on a rental model. Pilling commenced in January 2010 and was completed in July 2010 (six months) ' one month ahead of schedule. Trevi Foundations handled the pilling work.LSDPC functions include to acquire, develop, hold, manage, sell, lease or let any property movable or immovable within the State, provide and maintain roads, footways, bridges, drains and sewers on its estates until a local authority takes over, establish a Home-Ownership Saving Scheme in respect of any housing estate or building owned, constructed and managed by the Corporation.
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