BEHOLD THE REAL ESTATE WONDER OF AFRICA IN LAGOS
In case you are wondering where the real estate wonder of Africa is, it is located within the shores of Lagos State and it is referred to as the EKO ATLANTIC CITY. We will do a quick rundown of its details:
Eko Atlantic, officially Nigeria’s International Commerce city, also known as Eko Atlantic City, an architectural masterpiece and a symbol of Africa’s future. This new coastal city is located within the Victoria Island Axis and is currently undergoing construction and upon completion is expected to become the new financial epicentre of West Africa.
This new Nigerian city is being constructed on land reclaimed from the Atlantic Ocean, the long stretch formerly known as the Lagos Bar beach, promoted by the South Energy X group a subsidiary of the Chagoury group, the developers of the prestigious Ocean Parade Towers alongside a partnership with the Lagos State Government. Standing on 10 million square metres of land reclaimed from the ocean and protected by an 8.5 kilometre long sea revetment (The Great Wall of Lagos). The ‘Great Wall of Lagos’ was designed to withstand ocean surge and built to last for 1,000 years.
Testing of the sea defence system took place at the DHI Institute in Copenhagen, Denmark, where models were successfully tested for one-in-a-hundred-year ocean surges, and one-in-120-year, one-in-150-year and one-in-1,000-year storms.
Eko Atlantic will be the size of Manhattan’s skyscraper district, Self-sufficient and sustainable. The development would consist of residential, office and retail spaces. The residential towers consists of 5 magnificent towers known as the ‘’Eko Pearl Towers’’ a mix of luxurious 2 bedrooms, 3 bedrooms and penthouse apartments with sea and canal views while the commercial space ‘’Eko Pearl Corporate Towers’’ would be the first of its kind comprising 37 floors exceptionally designed to attract International and local offices. It would also accommodate a world class school and several high end retail opportunities.
Upon completion, this new strip, is anticipating at least 250,000 residents and a daily flow of 150,000 commuters. This will impact greatly on the economy by attracting both local and international visitors serving as tourist attractions, create employment opportunities for both the skilled and unskilled, it would also serve as a commercial hub for Africa bringing in huge financial earnings (FDI), a hike in real estate values of properties along the Atlantic corridor. The development will also have a positive environmental impact, as it will help curb the long standing problem of erosion on the state’s coastline.
MODEL CITY (WHAT IT WILL LOOK LIKE WHEN COMPLETED)
Impressive in every sense of the word and indeed the new face of Africa, every Lagosian is hoping they are alive to see this marvel happen. It is bound to spark a fire in the real estate space in Lagos state and Nigeria as a whole. The time of completion of the project has not yet been confirmed; though construction is fast pacing with one of the residential towers sold out and delivered to the public in December 2016. We are however hopeful that the entire city would evolve within the next few years.
COMPILED BY ADEDAMOLA OKUBANJO