Metrospeed Property Development Limited has announced a strategic partnership with Chevron Employees Multipurpose Cooperative Society (CEMCS). This collaboration aims to fast-track the groundbreaking Metro Smart City project in Lagos, a visionary urban development designed to transform the city into a modern, sustainable metropolis through innovation and integrated smart living.
The Metro Smart City initiative, spearheaded by Metrospeed, represents a bold step toward creating a thriving urban ecosystem that comprises five diverse districts: a technology hub, a waterfront community, a residential area, a business zone, and a leisure and entertainment district. The project is leveraging the extensive expertise of China Civil Engineering Construction Corporation Ltd (CCECC) for land reclamation and infrastructure development, ensuring world-class standards in construction and design.
CEMCS President Princewill Hope expressed enthusiasm about the partnership, emphasizing the long-term benefits for its members. He highlighted their confidence in the project, citing strong capital preservation and attractive long-term returns. He explained, “Looking at the pedigree of Metrospeed and our infrastructure partners like CCECC, we’re confident this investment is both secure and profitable. It aligns with our vision of long-term wealth creation for our members. We believe this partnership will yield significant income, which is why we had no reservations about joining this venture.”
Dele Oyefuga, CEO of Metrospeed Group, also shared his excitement about the collaboration. He pointed out that Chevron’s involvement not only brings financial capacity but also enhances the project’s credibility, boosting investor confidence. Oyefuga revealed that development has already been divided into phases, with land reclamation expected to be completed by the end of the year. Once this phase is complete, the company will begin construction, starting with roads and drainage systems before progressing to other infrastructure such as fiber optics and security features. The construction of these critical elements is targeted to commence towards the end of the year.
Emike Ntiokiet, Head of Sales & Marketing at Metrospeed, described the partnership as a game-changer for Nigeria’s urban development landscape. She emphasized that Chevron’s investment signifies more than capital; it represents credibility and reassures investors about the project’s prospects. She also reiterated Metrospeed’s commitment to making the Metro Smart City accessible to a broad demographic. “While our plan for Metro Smart City is premium, we are creating flexible payment plans to enable everyday Nigerians to own a piece of the future. Our vision is inclusive urban growth, not just exclusivity,” Ntiokiet explained.
With construction already underway, the Metro Smart City project is poised to become a flagship for smart urban living in Nigeria and a model for sustainable city development across Africa. The city will feature five well-defined neighborhoods, each dedicated to a different aspect of modern urban life—promising a future where innovation, sustainability, and community coexist harmoniously.
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