The Chief Marketing Officer of Palton Morgan Holdings, Ikechukwu Ugwu, has described the Lagos-Calabar Coastal Highway as Lagos’ new Victoria Island.

Ugwu disclosed this to journalists over the weekend in Lagos after a tour of the company’s Paramount twin towers situated along the coastal highway.

He added that part of the reasons for the tour was to build a strong relationship with the media, noting that the firm also intends to amplify discussions and conversations around the coastal area.

“A lot of people do not know that big things are going to spring up from that location. We are hoping that your community will help us to start writing about the area, just to sensitise people that that is the new Victoria Island, because of the level of work going on there,” Ugwu said.Ugwu stated that the project started before the Coastal Road, adding that the introduction of the Coastal Road development brought a lot of advantages to properties within that axis.“If you recall, when the conversation around the Coastal Road started, a lot of developers had to hold on a bit to understand government direction around the Coastal Route.

But I will tell you, in terms of immediate impact, it has, of course, not only impacted on the Paramount twin towers but every development happening in that axis because it further opened that location and made it more attractive and desirable,” Ugwu said.

Explaining the rationale behind the project, Ugwu emphasised that the company’s decision to undertake the development was driven by its desire to build: “something larger than life. Something iconic that is befitting to people who want things that will outlive them. Beyond investment, things that are a legacy.”

Earlier, the Chief Commercial Officer of Palton Morgan Holdings, Mumtaz Zaidi, disclosed that the 13-storey building was developed by Grenadines Homes.

On the completion date, Zaidi said, “The project is expected to be completed in the first quarter of 2027.”