Developer seeks conducive environment for Lagos real estate investors
• Begins 28- storey residential project in Landmark city
ONE of the major investors in Lagos real estate, Landmark Africa has called for a conducive environment for property developers and intervention of the authorities to secure investments along the Atlantic Ocean beach corridor in Victoria Island, Lagos.
The company believes that securing the area from social miscreants and ensuring that the dredging of sand for the Eko Atlantic project doesn’t harm the environment, especially real estate developments and communities within the shores will raise investors’ confidence and promote Foreign Direct Investment ( FDI).
It has spent over N3.5 billion and adopted a triple defence approach through stone embankment around its site to reduce the impact of the large tidal wave, which was occurring because of the ongoing land reclamation work in the area. They also sheetpile the boundary wall and reinforce stability of the areas, as well as construction of an anchor wall, which was tied to the sheetpile boundary wall.
Chief Executive Officer, Landmark Africa, Paul Onwuanibe, who spoke during a tour of the 38,000 square metre sites, said the company has held series of meetings with different ministries, agencies and departments on how to curb excesses of social miscreants and solve challenges facing investors in the area that didn’t yield any fruit.
He stated that the mixeduse developments incorporate commercial, residential, and recreational spaces, as well as provide corporate executives and multi- national clients a onestop address where they can live, work and play. “Landmark has forged strategic partnerships that have resulted in attracting FDI, fostering business investments, and developing dedicated spaces for renowned companies,” he said.
Onwuanibe explained that the Landmark leisure beach and retail boulevard is on 123,654 square metres that stretches over one kilometres, which offers pristine crystal- clear waters and a variety of amenities, such as bars, activity areas, restaurants, and retail shops. “Landmark beach offers thrilling activities such as water sports, quad biking, paintball and high- octane aquatic adventure course,” he said.
Apart from the beach resort, the company kickedoff development of its 28storey Landmark Waterview Apartments two years ago, which promises 306 premium homes, state- of- the- art and modern amenities such as game rooms, kids playing area, a pool and spa that gives opportunities to invest, as well as live in the growing business, leisure, and lifestyle destination.
The apartment, which is under construction, will have a fully automated entry system, smart home amenities and digital concierge services. The existing Landmark Towers also boast of an 18- room hotel with ocean view rooms, while the beach resort has two beach houses, each with five rooms, as well as 20 standard rooms. Onwuanibe explained that “the water view apartments redefines exclusivity, as residents will enjoy special benefits unique to them and unavailable to anyone else, ranging from complimentary membership, discounts on retail stores within the ecosystem, VIP access to selected events, loyalty reward programmes, and discounted use of event and rental spaces.”
According to him, the company owns 220,000 square metre land area and over $ 250million investment in property, which includes 100 rooms managed by the Landmark Hotel and Beach Resort that contributes N530 million yearly in federal and state taxes. It also has over four million people yearly in footfall, provides 4,000 direct ecosystem employment and 12,000 indirect employment.