By Adetunji Bolorunduro | Afriscaper

Using data from the International Monetary Fund, a one on one comparison of the GDP of Lagos State (Nigeria) versus some European countries show’s that Lagos State’s GDP is larger than the GDP of almost half of the countries in Europe. With a GDP of over $70 billion, If Lagos State were a country in Africa, it will be rank number 7 largest economy in Africa behind Morroco. Apart from being a port city, it is important to state that Lagos state is the 3rd largest city economy in Africa. With a population of over 20 million people living in this city-state. The IGR of Lagos stood at $1.3 billion through Taxes as at 2015, what is this implying to us? Investment opportunities, potentials. sit back and enjoy as the Afriscaper team presents to you the first edition of Major Real Estate and Infrastructure Projects in Lagos State, Nigeria.

 

Lekki Deep Seaport

Estimated Cost of $1.65 Billion

The Lekki Deep Seaport project, which is projected to be the deepest seaport in Sub-Saharan Africa, is slated to commence operations in early 2019. The current capacity shortfall for container terminal facilities in Lagos is estimated to be 0.8 million TEUs in 2016, going up to 5.5 million TEUs in 2025. The Lekki Deep Sea port, which is located at the heart of the Lagos Free Trade Zone (LFTZ) will have a project capacity of 2.7 million TEUs per annum. Development and construction activities of the Lagos Free Trade Zone is being undertaken by Lagos Free Trade Zone Company, a company wholly owned by the Tolaram Group T. This port will be operated by the Lekki Port LFTZ Enterprise, which is also currently fully owned by Tolaram Group, but will have the Nigerian Ports Authority and the LASG as shareholders.

Images below are from the project official website

 

Artistic Impression of The Lekki Deepsea Seaport

 

Artistic Impression of The Lekki Deepsea Seaport

 

 

Artistic Impression of The Lekki Deepsea Seaport

 

 

 

Artistic Impression of The Lekki Deepsea Seaport

 

 

Artistic Impression of The Lekki Deepsea Seaport

 

 

 

 

 

Eko Atlantic City-

Estimated Cost of $6 Billion

The Eko trans-Atlantic city project started in 2009 to cater for the demand for both commercial and residential accommodations as well as to cater for financial and tourist accommodation demand. This city will be equipped with state of art tech, infrastructures such as water, transportation, modernised water systems. As well as anindependent source of energy generated specifically for the city.

This project is coordinated by Lagos state government in conjunction with private sectors such South Energyx Nigeria Limited. When completed, the new peninsula, which is still under development is anticipating at least 250,000 residents and a daily flow of 150,000 commuters.

Onsite Images below courtesy of Venturesafrica.com

 

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The first, a 15-floor Afren Plc Towers which will be the company’s new headquarters, is already in its 8th floor of construction.

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Its developer, South Energyx Limited, has said the building, Azuri Peninsula, will contain 120 luxury apartments.

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Azuri Peninsula has been given a 3-year completion timeline and will be cited on the Marina District of the city.

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Eko Atlantic is a revolutionary project within Africa’s real estate sector. It has been hailed as one of the most “inspiring and ambitious” infrastructure projects in Africa by the Clinton Global Initiative. The $6 billion valued mega-city will provide an array of luxurious business, retail, hotels, residential, and school districts, attracting a comparison to the skyscraper district of Manhattan in New York City.

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The city, expected to sit on a reclaimed 5 million square metres of land in Victoria Island, Lagos, is tipped to reshape Africa’s real estate and construction industries by laying the foundation for future landmark projects across the continent.

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Here’s how Eko Atlantic City should look once completed:

Eko Atlanticss

Eko Atlantic is master-planned to contain ten districts which are as follows:

  • Harbour Lights
  • Business District
  • Marina
  • Downtown
  • Eko Island
  • Avenues
  • Four Bridges
  • Eko Drive
  • East Side Marina
  • Ocean Front

 

 

Eko Tower II

The Eko Towers II construction started in the year 2014, almost near completion. This project is presently at Interior decoration and fitting stage, it is a 27-floor mixed use development. It consists of a mixture of real estate components including a Guesthouse, medical and social centre, restaurants and bars and more, located at the Adetokunbo Ademola street Roundabout in Lagos State.

2014. Development: Eko Tower II, Victoria Island - Lagos.

2014. Development: Eko Tower II, Victoria Island – Lagos.

February 2016. Development: Eko Tower II, Victoria Island - Lagos.

February 2016. Development: Eko Tower II, Victoria Island – Lagos.

February 2016. Development: Eko Tower II, Victoria Island - Lagos.

February 2016. Development: Eko Tower II, Victoria Island – Lagos.

January 2017. Development: Eko Tower II, Victoria Island - Lagos.

January 2017. Development: Eko Tower II, Victoria Island – Lagos.

January 2017. Development: Eko Tower II, Victoria Island - Lagos.

January 2017. Development: Eko Tower II, Victoria Island – Lagos.

Development: Eko Tower II, Victoria Island - Lagos

Development: Eko Tower II, Victoria Island – Lagos

Development: Eko Tower II, Victoria Island - Lagos

Development: Eko Tower II, Victoria Island – Lagos

The property consisted of components which include:

  • The Guesthouse
  • Restaurants and Bars, Conference Centre, Health Club and Outdoor Sports Facilities
  • Medical and Social Centre
  • Parking for the Guesthouse, Medical and Social Centre and the office tower near Eko Tower

 

 

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Orange Island

Estimated cost of $128 Million

 

DISTRICTS

THE MARINA

RESIDENTIAL ENCLAVE

THE PROMENADE

YATCH CLUB

CENTRAL PARK AND TOWN HOUSES

BUSINESS PARK

COMMERCIAL STRIP

This is an ambitious real estate project to cover 150 hectares of land, accommodate about 25,000 people and, located within Lekki corridor in Lagos State. This real estate project started in 2013 and estimated to complete on year 2018/2019.

According to the Project Website, “Orange Island is the conceptualisation of the Lagos State Government’s goal to reorganise and restructure the Lagos Mega City. It will be one of the new satellite towns that will be developed in the Lekki, Badagry and Ikorodu districts of Lagos State over the next few years. To this end, a Memorandum of Understanding between Lagos State Government and FW Dredging (Sponsors of the project) was signed in January 2013 and a joint venture agreement between FW Dredging, Orange Island Development Company and the Lagos State Government signed on 9th January 2014”.

 

Partners on the project are KEDARI CAPITAL, Lead Financial Advisors; Mepas & Prodel Nigeria Limited, Town Planning Consultants; FR Projects Services Limited, Project Manager; Keystone Bank, Bankers to the Project; AiQ Capital Management Limited, Financial Advisors; Ecopro Resources, Environment Consultants; Van Oord, Dredging Contractor; and OOLENG Nigeria Limited, Structure and Civil Engineers.

Others are Swampsea Limited, Technical Engineering Consultants; Jackson, Etti & Edu, Solicitors; DELANO ARCHITECTS, Urban Planner & Architects; KOA, Mechanical and Technical Engineers; GREEFF, International Master Planners; VIA CONSULT Pty (Ltd) (SA), Engineering Design Services and ALDER creative intelligence as Brand Consultants.

 

 

 

Atlantic Resort

Estimation Cost $15 Million

 

 

Atlantic Resort, Victoria Island Annex/Oniru. Image Source: Grenadines

Atlantic Resort, Victoria Island Annex/Oniru. Image Source: Grenadines

Atlantic Resort, Victoria Island Annex/Oniru. Image Source: Grenadines

Atlantic Resort, Victoria Island Annex/Oniru. Image Source: Grenadines

Atlantic Resort, Victoria Island Annex/Oniru. Image Source: Grenadines

Atlantic Resort, Victoria Island Annex/Oniru. Image Source: Grenadines

Atlantic Resort, Victoria Island Annex/Oniru. Image Source: Grenadines

ATLANTIC RESORT BUSINESS & RESIDENCE

The Atlantic Resort is a stunning, awe- inspiring, beachfront development set in a tranquil area of Victoria Island, Lagos. Comprising 4 towers and offering the best infrastructure.

It is designed to deliver exceptional value to homeowners, investors, tourists, and corporate institutions in search of suitable residences, offices or retail spaces within the financial nerve centre of Nigeria; Victoria Island.

LOCATION

The Atlantic Resort is located on Water Corporation Drive, off Ligali Ayorinde Street, Victoria Island, Lagos. It is flanked by Trinity House Church to the left and overlooking the Atlantic Ocean.

 

THE ARCHITECTURE

Grenadines Homes Limited has partnered with world class, renowned architects:

  • HOK Architects; one of the largest architectural firms in the World
  • ECAD Architects; one of Nigeria’s foremost architectural firms
  • Movement to site:  2nd Quarter, 2017
  • Construction:  24 – 30 Months from 2nd Quarter 2017

 

 

 

Kingsway Tower, Ikoyi

Kingsway Tower is a 16-floor mixed use building offering offices, ground floor retail, restaurants and basement parking. This project is located on the corner of Glover Road and Alfred Rewane Road in Ikoyi and, it is expected to be ready for use by late 2017. Below are the impression Images from the project website and onsite images from estateintel.com

 

 kingstower tower alfred rewane way lagos island photo real estate nigeria lagos abuja property news update research civic center towers development skyscraper lagoon

Kingsway Tower, Ikoyi. CGI Image

 kingstower tower alfred rewane way lagos island photo real estate nigeria lagos abuja property news update research civic center towers development skyscraper lagoon

Kingsway Tower, Ikoyi. CGI Image

 kingstower tower alfred rewane way lagos island photo real estate nigeria lagos abuja property news update research civic center towers development skyscraper lagoon

Kingsway Tower, Ikoyi. CGI Image

 kingstower tower alfred rewane way lagos island photo real estate nigeria lagos abuja property news update research civic center towers development skyscraper lagoon

Kingsway Tower, Ikoyi. CGI Image

Development: Kingsway Tower, Alfred Rewane (Kingsway) Road, Ikoyi - Lagos

Development: Kingsway Tower, Alfred Rewane (Kingsway) Road, Ikoyi – Lagos

Development: Kingsway Tower, Alfred Rewane (Kingsway) Road, Ikoyi - Lagos

Development: Kingsway Tower, Alfred Rewane (Kingsway) Road, Ikoyi – Lagos

Development: Kingsway Tower, Alfred Rewane (Kingsway) Road, Ikoyi - Lagos

Development: Kingsway Tower, Alfred Rewane (Kingsway) Road, Ikoyi – Lagos

Kingsway Tower, Alfred Rewane (Kingsway) Road, Ikoyi, Lagos. August 2016.

Kingsway Tower, Alfred Rewane (Kingsway) Road, Ikoyi, Lagos. August 2016.

Kingsway Tower, Alfred Rewane (Kingsway) Road, Ikoyi, Lagos. August 2016.

Kingsway Tower, Alfred Rewane (Kingsway) Road, Ikoyi, Lagos. August 2016.

IMG_4586

Development: Kingsway Tower, Ikoyi, Lagos – Nigeria. April 2016. Image source: estateintel.com

Kingsway Tower, Alfred Rewane Road (Kingsway Road), Ikoyi. January 2015

Kingsway Tower, Alfred Rewane Road (Kingsway Road), Ikoyi. January 2015

Kingsway Tower, Alfred Rewane Road (Kingsway Road), Ikoyi. January 2015

Kingsway Tower, Alfred Rewane Road (Kingsway Road), Ikoyi. January 2015

Kingsway Tower, Alfred Rewane Road - Ikoyi.

Kingsway Tower, Alfred Rewane Road – Ikoyi.

Kingsway Tower, Alfred Rewane Road - Ikoyi. Heritage Place and Kingsway Tower, Alfred Rewane Road – Ikoyi

 kingstower tower alfred rewane way lagos island photo real estate nigeria lagos abuja property news update research civic center towers development skyscraper lagoon

 

No. 4 Bourdillon

Kaizen’s flagship project  4 Bourdillon will be the tallest Residential Building in Ikoyi, Lagos, Nigeria. Located at 4, Bourdillon Road, Ikoyi, 4 Bourdillon is a Twin Tower of 25 Floors with 41 Units of 3 and 4 Bedroom Flats and 5 Bedroom Duplex Flats and Duplex Penthouses with lush greenery, water bodies, swimming pools, tennis court, gym and clubhouse with ample underground parking and breath-taking views. 4 Bourdillon is scheduled to be ready for occupancy in 2019.

Below are the impression Images from the project website and onsite images from estateintel.com

 

No. 4 Bourdillon Road, Ikoyi

No. 4 Bourdillon, Ikoyi - Lagos

No. 4 Bourdillon, Ikoyi – Lagos

No. 4 Bourdillon, Ikoyi - Lagos

No. 4 Bourdillon, Ikoyi – Lagos

No. 4 Bourdillon, Ikoyi - Lagos

No. 4 Bourdillon, Ikoyi – Lagos

No. 4 Bourdillon, Ikoyi - Lagos

No. 4 Bourdillon, Ikoyi – Lagos

August 2015. Updated: Development: No. 4 Bourdillon, Ikoyi - Lagos

August 2015. Updated: Development: No. 4 Bourdillon, Ikoyi – Lagos

October 2016. Updated: Development: No. 4 Bourdillon, Ikoyi - Lagos

October 2016. Updated: Development: No. 4 Bourdillon, Ikoyi – Lagos

October 2016. Updated: Development: No. 4 Bourdillon, Ikoyi - Lagos

October 2016. Updated: Development: No. 4 Bourdillon, Ikoyi – Lagos

October 2016. Updated: Development: No. 4 Bourdillon, Ikoyi - Lagos

October 2016. Updated: Development: No. 4 Bourdillon, Ikoyi – Lagos

October 2016. Updated: Development: No. 4 Bourdillon, Ikoyi - Lagos

October 2016. Updated: Development: No. 4 Bourdillon, Ikoyi – Lagos

February 2017. Updated: Development: No. 4 Bourdillon, Ikoyi - Lagos

February 2017. Updated: Development: No. 4 Bourdillon, Ikoyi – Lagos

February 2017. Updated: Development: No. 4 Bourdillon, Ikoyi - Lagos

February 2017. Updated: Development: No. 4 Bourdillon, Ikoyi – Lagos

February 2017. Updated: Development: No. 4 Bourdillon, Ikoyi - Lagos

February 2017. Updated: Development: No. 4 Bourdillon, Ikoyi – Lagos

February 2017. Updated: Development: No. 4 Bourdillon, Ikoyi - Lagos

February 2017. Updated: Development: No. 4 Bourdillon, Ikoyi – Lagos