Elegushi Family To Build $300m Imperial International Business City

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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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