Nigeria: Developer excites home buyers, investors with luxury real estate
GOING by the sophistication and changing tastes among real estate consumers, Palton Morgan, the developer of Paramount Twin Towers (PTT), has opened fresh opportunity for home buyers and investors alike in its latest luxury property development.
Located in the heart of Lagos metropolis, the developer, who operates mostly at the luxury end of the real estate market, has committed itself to offering Nigeria›s most valuable and well-planned communities.
Described as Lagos new standard for luxury living, PTT is being developed by Grenadines Homes, a subsidiary of the Palton Morgan Group.
It is a new collection of premium 2-bedroom apartments that are typically larger than the regular 2-bedroom units and come with two living rooms and two terraces.
The twin towers offer residents a true 5-star living experience, which aligns seamlessly with the theme for its campaign — 'Experience 5-Star Living by the Ocean'— which the developer has achieved by providing the kind of luxury experiences people get when they stay in premium hotels all over the world.
The development combines elegance, comfort, and convenience in one of Nigeria's most coveted coastal locations. It is located in Oniru, Victoria Island, Lagos which is an oceanfront destination, offering exceptional flexibility arising from its proximity to landmark developments.
Speaking during the unveiling of this iconic development, Executive Director, Commercial, Palton Morgan, Adeola Salami, stressed the company's commitment to credibility, structural integrity, and long-term value.
'We are building not just homes, but lifestyle defined by security, sophistication, and enduring investment appeal,' she said.
On her part, Folake Johnson, Head of Brand and Marketing, noted that, 'luxury today is more than just architecture; it is about experience and exclusivity. Paramount Twin Towers sets a new benchmark for 5-star living in Lagos, providing top executives and high net-worth individuals (HNIs) with a seamless blend of home comfort and world-class hospitality.'
Earlier, Director, Project and Construction Management Palton Morgan, Peter Reven, had observed that, 'Paramount Twin Towers is not just a residence; it is a statement of success and refined living.
We designed this project to meet the expectations of high-achieving individuals who demand the best in both comfort and experience. This is a property where executives and industry leaders can retreat to tranquillity while remaining connected to the pulse of the city.'
The new luxury real estate development benefits from Eko Atlantic City and more from the Lagos-Calabar coastal road.
PTT comes with upscale features and amenities that exemplify Palton Morgan's tradition of fusing advanced architecture with aesthetics for elevated luxury living.
These include valet parking, concierge services, high-end restaurants, 24/7 security, ample parking space on 3 floors, kids play area, infinity pools, and many more. Every unit of this development is designed to provide seamless functionality and comfort.
The open-plan lounges, modern kitchens, service areas, and carefully positioned windows flood each room with natural light that offers breathtaking views of the Atlantic Ocean, just 200 meters away.
Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Harpers Bazaar Arabia
5 hours ago
- Harpers Bazaar Arabia
Omniyat Is Set To Transform Marasi Bay Into The Ultimate Waterfront Destination In Dubai
Set in the heart of the Burj Khalifa District, Marasi Bay Island is poised for a luxurious transformation, following its acquisition by leading luxury developer Omniyat Nestled in the Burj Khalifa District, Marasi Bay Island is about to get a whole lot more luxe – thanks to an acquisition by Omniyat, a leading developer of Dubai's premium real estate market. The developer intends to transform the area into a hub of luxury lifestyle and wellness – a waterfront destination that marries high-end homes, chic workspaces, and five-star hospitality, with an exclusive beach club; the first in Burj Khalifa District. The project will seamlessly blend into the waterfront with private parks, Marina Yacht club, and a floating pavilion. With its easy access to Downtown Dubai, Business Bay, DIFC, D3 Design District, and Dubai International Airport, Marasi Bay is destined to attract the ultra-high-net-worth, and amenities will be tailored to suit this clientele. The Yacht Club, ender boat service, and the jetty lounges for boat owners and The Lana Hotel guests will ensure that those who love waterside living are expertly catered to, while the pavilion, a large retail space set over the water, will provide plenty of shopping opportunities. Resident-only facilities will include a padel court, children's play area, running track and an art trail. Own a superyacht? No problem. Marasi Bay Marina has berths for those too. 'In a re-imagined approach to urban living, we are reshaping Marasi Bay into Dubai's definitive ultra-luxury waterfront destination. Marasi Bay Island is another jewel in its crown, complementing this luxurious ecosystem with exceptional waterfront experiences,' says Mahdi Amjad, Founder and Executive Chairman of Omniyat. 'Alongside the island, the newly unveiled amenities on the south side of the bay, further enrich the lifestyle offering for Omniyat residents and guests.' For those who want inner-city access, but don't want to feel disconnected from nature, Sunset Park, a 30,000-sq ft private floating island will offer the ultimate retreat – from picnic lawns, private dining spaces with a chef's kitchen and BBQ, along with sensory and meditation gardens, to a yoga terrace, a dedicated dog park, and event lawns, greenery will thrive at the heart of this community. Part of a refined residential portfolio, VELA Viento, Dorchester Collection, Dubai is a striking addition to Marasi Bay's masterplan. Designed by the acclaimed Foster + Partners, the 180-metre tower features 95 residences with sweeping views of the Burj Khalifa, Downtown Dubai, and the waterfront. Floor-to-ceiling windows and expansive terraces create seamless indoor-outdoor living spaces, while select homes include private pools, and suspended dining rooms, meticulously furnished by interior designer Gilles & Boissier. The tower will also feature a Sky Amenities Deck with infinity pool, spacious gym, and yoga studio, with access to The Lana Hotel and Marasi Bay just a stroll away.
Khaleej Times
7 hours ago
- Khaleej Times
Sharjah's realty delivers stellar performance in May
Sharjah's real estate market delivered a stellar performance in May 2025 with a trading value of Dh5.5 billion across 8,415 transactions. This activity, spanning 13.2 million square feet of traded area, underscores the emirate's growing appeal to investors and its strategic evolution into a diversified, sustainable real estate hub, according to data from Sharjah's Real Estate Registration Department. Real estate consultants observed that Sharjah's real estate market exemplifies a maturing sector that balances growth with sustainability. 'The emirate's strategic vision, robust infrastructure, and investor-friendly policies have created a fertile ground for real estate investment,' an analyst said. They noted that against the backdrop of the UAE's dynamic property sector, Sharjah's performance reflects both local resilience and alignment with broader national trends, underscoring its reputation as a prime investment destination. The UAE's real estate market has been on a steady growth trajectory, with the nation's property sector projected to contribute significantly to the non-oil GDP, which reached 73 per cent of the total economy in 2024, as reported by the UAE Central Bank. In particular, Dubai's high-octane luxury market recorded transactions worth Dh97.5 billion in Q1 2025 per the Dubai Land Department. Balancing affordability with ambitious urban development, Sharjah offers a blend of residential, commercial, and industrial opportunities that cater to a diverse investor base. This diversity, coupled with investor-friendly policies, has fueled Sharjah's real estate momentum. The emirate's market is undergoing a transformative shift, moving beyond traditional growth to embrace sustainability and innovation. Government initiatives, including streamlined regulations and investor protections, have bolstered confidence among local and international stakeholders. Flexible legislation has kept pace with market demands, ensuring transparency and legal integrity. Meanwhile, Sharjah's urban expansion, underpinned by modern infrastructure and large-scale projects, has opened new avenues for investment. Areas like Al-Metraq, Muwailih Commercial, and Tilal have emerged as hotspots, reflecting the emirate's ability to attract developers and buyers May 2025, Sharjah's real estate sector recorded 8,415 transactions, with sales transactions totaling 1,574, or 18.7 per cent of the total, signaling strong demand for properties. Mortgage activity further highlighted market confidence, with 381 transactions valued at over Dh1.1 billion, representing 4.5 per cent of all deals. This financing surge reflects trust from both investors and financial institutions in Sharjah's long-term potential. Initial sales contracts numbered 1,486, comprising 17.7 per cent of transactions, while ownership certificates accounted for 43 per cent with 3,619 transactions. Additionally, 1,355 ownership deeds were issued, making up 16.1 per cent of the total, reinforcing Sharjah's reputation for a well-regulated property transactions spanned 134 areas across Sharjah, covering residential, commercial, industrial, and agricultural properties. Of these, 877 transactions involved land, 395 were for units in towers, and 302 were for built-in land deals. Sharjah City dominated with 1,426 sales transactions, led by Al-Metraq, which recorded 354 deals, followed by Muwailih Commercial with 258 and Tilal with 135. In terms of trading value, Muwailih Commercial topped the list at Dh352.2 million, followed by Tilal at Dh263.2 million, Al-Sajaa Industrial at Dh140.9 million, and Al-Metraq at Dh114.9 Sharjah City, the Central Region logged 97 sales transactions, with Industrial 1 leading at 17 deals and Al-Blida recording the highest trading value at Dh13.8 million. In Khor Fakkan, 26 transactions were recorded, with Al-Harai Industrial contributing five deals and Hay Hayawa 4 achieving a trading value of Dh3.6 million. Kalba City saw 24 transactions, with Al-Tarif 5 leading at seven deals and Al Soor 1 posting a trading value of Dh3.5 million. This widespread activity underscores Sharjah's ability to cater to varied investor preferences across its regions. A 2025 report by Property Monitor highlights that Sharjah's affordability, compared to Dubai's average property price of Dh2.1 million, makes it a magnet for middle-income buyers and investors seeking value-driven opportunities. Additionally, Sharjah's focus on cultural and educational hubs, such as University City, enhances its appeal as a holistic lifestyle destination.
Khaleej Times
7 hours ago
- Khaleej Times
Dubai realty defies global trends, eyes 300,000 new housing units by 2028
Dubai's residential real estate market continues to defy global trends, posting sustained growth in both sales volumes and values as the emirate retains its status as a leading destination for property investment. With 73,000 new homes slated for delivery by 2025 and an ambitious target of 300,000 units by the end of 2028, Dubai is undergoing one of the most significant residential expansions in its history, according to consultancy Cavendish Maxwell. Despite a slight quarter-on-quarter decline, the market remains firmly on an upward trajectory. In the first quarter of 2025, the city recorded 42,000 property sales transactions valued at Dh114.4 billion. While this marks a 10 per cent drop compared to the last quarter of 2024, it represents a striking 23 per cent increase from the same period in the previous year. Cavendish Maxwell's Director and Head of Residential Valuation, Ronan Arthur, noted that while prices began the year on a softer note, they are now stabilising. The average quarterly price increase stood at 2.8 per cent, down slightly from the 4 per cent average of 2023 and 2024, signaling a maturing market. Almost 95 new projects were launched in the first quarter of 2025, bringing an anticipated 29,000 residential units to the market. About 9,300 of these units were completed during the same period — the second-highest quarterly figure in two years. Apartments accounted for nearly 80 per cent of the completions, with villas and townhouses making up the rest. Jumeirah Village Circle (JVC) led all areas in both completions and transactions, adding 4,330 units and recording 3,330 apartment sales. Off-plan sales dominated activity, contributing Dh77.5 billion from 29,000 deals — roughly 70 per cent of all transactions and a 32 per cent increase year-on-year. The secondary market also showed resilience, with 13,200 transactions representing a 6.6 per cent annual rise. Apartments made up 75 per cent of total deals, though demand for larger homes is also increasing. Townhouses and villas represented 17 and 7 per cent of sales respectively, reflecting buyers' growing interest in more spacious living. Luxury properties saw a notable upswing as well, with 590 homes sold at prices above Dh20 million, up from 480 in the same period last year. A majority — 67 per cent — of these high-end sales were off-plan, indicating a strong appetite for new developments among affluent investors. By March 2025, the average property price had reached Dh1,535 per square foot, a 16 per cent year-on-year increase. V. Sivaprasad, chairman of Condor Developers, the prime property market continues to record steady surge in demand. 'The rise in the influx of wealthy buyers to Dubai continues to propel the luxury residential sector, defying general regional trends. Dubai's residential property market continues to flourish, driven by strong investor sentiment, a diversified demand base, and strategic planning. As the city evolves, developers and investors alike will need to navigate a more mature and dynamic landscape — one that increasingly rewards timely execution, smart planning, and long-term vision,' said Sivaprasad. Rental dynamics, however, are showing signs of moderation. Annual rent growth stood at 14.4 per cent, but only one per cent on a quarterly basis — the slowest pace in two years. This could be a result of the growing supply of new units and the implementation of the Dubai Smart Rental Index, which is expected to bring more transparency and structure to pricing. Average rental yields remain attractive: 7.3 per cent for apartments and five per cent for villas and townhouses. Some areas, such as Dubai Investments Park, International City, and Downtown Jebel Ali, are offering yields as high as 10.3 per cent for apartments, while Industrial City leads the villa segment at 6 per cent. Market optimism was further bolstered by record-breaking activity in May 2025. According to fäm Properties, Dubai saw property sales worth Dh66.8 billion during the month — a 49.9 per cent increase compared to May 2024. With 18,693 transactions, it became the second-highest month on record for volume. In contrast, May 2020 saw only Dh2.3 billion from 1,400 deals. This dramatic rise underscores the emirate's evolution into a global investment hub, fueled by economic stability and sustained interest from high-net-worth individuals. Despite concerns raised by some analysts over a potential 15 per cent price correction, industry leaders remain confident. fäm Properties CEO Firas Al Msaddi dismissed the fears, stating that the market is not headed for a downturn but merely entering a phase of more measured growth. With over 360,000 residential units in the pipeline for the next five years but only a fraction nearing completion, demand appears well positioned to absorb incoming supply.
