Friday, February 3, 2023
No Result
View All Result
SUBSCRIBE
eNaira Online News
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
eNaira Online News
No Result
View All Result

Tony Elumelu’s Afriland Properties partners Lagos to build Falomo Towers

by e-Naira Online News
June 18, 2022
in Real estate
Reading Time: 3 mins read
A A
0
Home Real estate
Share on FacebookShare on Twitter


Afriland Properties has signed a joint redevelopment partnership with the Lagos State Development and Property Corporation (LSDPC) to turn the former Falomo Shopping Complex to a premium sky-high real estate.

This was disclosed by Afriland Properties via a video at the sod turning ceremony and shared with Nairametrics on Friday.

The project is expected to enhance the socio-economic outlook of the neighbourhood, as it is a major urban renewal project that will restore the aesthetic landscape of Falomo, the commercial suburb of Ikoyi in the state.

Afriland Properties Plc is a subsidiary of Heir Holdings, owned by the foremost entrepreneur and banker, Mr. Tony Elumelu.

What Afriland is saying about Falomo Towers

Elumelu said, “I commend Gov. Babajide Sanwo-Olu and the political leaders of the State for believing in the private sector. What we are witnessing today attests to their beliefs in the private sector as a driver of development in the State

“For the private sector to do well, the political leadership must create the right environment. Lagos has set the pace in this direction. This partnership is a celebration of dialogue and this makes Lagos remain the most hospitable environment for investors.”

What Gov. Sanwo-Olu is saying

Sanwo-Olu, at the sod turning ceremony held at the project site, said the construction flag-off ended a decade-long discussion with the developer to revive the project and build iconic towers that would turn around the fallow land for the benefit of the public.

He said: “This is a phenomenal project that will bring back the lost ambience of Ikoyi. When this partnership was initiated 10 years ago, I was the Managing Director of LSDPC. It is interesting to note that we’ve all gone through arbitration but we didn’t throw a wrong punch. We agreed this project must not be thrown away. Today we are making a transaction that is bigger and better than what was initially proposed 10 years ago.

“This testifies to the uniqueness of public and private sectors in ensuring things can be made a lot better when we sit and agree. This is a clear example of what Public Private Partnership (PPP) model is out to achieve when partnerships and collaborations are pursued and implemented with seriousness. When we put our minds of possibilities to ideas, great things happen. This aptly describes the story of today’s flag-off of construction of Falomo Towers.”

The Governor added that the State Government would remain committed to ensuring the investors get full value for their investments while promising to continue to pursue business environment reforms, including automation of land and property records to scale up transparency and efficiency that catalyse sustainable investments.

What you need to know

  • In March 2021, Chairman of Heirs Holding, Elumelu,  unveiled plans to further transform the Central Business District of Lagos with the construction of “Falomo Mall”.
  • Taking to Twitter, the Nigerian businessman shared design images of the proposed edifice, which is also intended to house the Transcorp Hotel, Lagos, with 600 rooms. Although he did not disclose when construction works will begin, Elumelu urged Nigerians to be expectant.
  • Elumelu had stated that it was a thing of joy to watch his company drive the transformation of the Central Business District. According to him, Afriland Towers is now located on a popular landmark which was previously known as Raymond House.
  • Elumelu also recalled how, as a young banker, he used to view Raymond House as the very symbol of Nigeria’s “vibrant financial sector”. Perhaps, this explains why the building served as the first headquarters of United Bank for Africa (UBA) Plc which Elumelu once headed as CEO, and now serves as its Chairman.

Related



Source link

Tags: AfrilandBuildElumelusFalomoLagosPartnersPropertiesTonyTowers
Previous Post

Vigilantes nab two herders as gunmen behead Benue councillor-elect, cousin

Next Post

Debunking Some Misconceptions About Blockchain Technology

Related Posts

Real estate

FEC approves N9.6 billion refunds to Plateau and Borno state for road projects

by e-Naira Online News
February 2, 2023
Real estate

Tax Credit: NNPC says phase 2 of infrastructure funding scheme to cost N1.9 trillion

by e-Naira Online News
February 1, 2023
Real estate

Tilden sees 2023 elections outcome impacting on real estate industry

by e-Naira Online News
January 31, 2023
Real estate

A case for corporate governance in FM profession –

by e-Naira Online News
January 31, 2023
Real estate

Emerging ‘megalopolis’ in Africa to house 500m people, host mega millions

by e-Naira Online News
January 31, 2023
Next Post

Debunking Some Misconceptions About Blockchain Technology

Visually impaired voter request for help causes stir at polling unit

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest

British American Tobacco earns alliance for Water Stew — Opinion — The Guardian Nigeria News – Nigeria and World News

January 29, 2023

Crypto Bank Custodia Denied Membership in US Federal Reserve System – Finance Bitcoin News

January 29, 2023

CAP full year PBT rises by 79% to N3.1bn

January 27, 2023

UNCTAD, Islamic Development Bank unite over sustainable investment — Business — The Guardian Nigeria News – Nigeria and World News

January 29, 2023

Guinness grows half year gross profit by 16%

January 27, 2023

Nigeria, others to meet over development in oil sector | The Guardian Nigeria News

January 27, 2023

Vitafoam Plc advocates special FX window for manufacturing sector

January 28, 2023

NIMASA plots CVFF disbursement strategy with banks — Business — The Guardian Nigeria News – Nigeria and World News

January 29, 2023

IFC Partners Nigeria’s Union Bank to Support Trade, SMEs

February 3, 2023

Aso Rock forces inciting Nigerians against APC – El-Rufai

February 3, 2023

Unlocking Nigeria’s economic potential: Overcoming structural barriers

February 3, 2023

Extra SNAP Benefits Ending — 9 Ways to Save on Food

February 2, 2023

Digital Migration of Banking Customers in Nigeria

February 2, 2023

ETH platform Blocknative adds bundles, cancellation, replacement

February 2, 2023

Bourse records uptick as investors gain N272bn – Businessamlive

February 2, 2023

Zainab Ahmed says Nigeria disagrees with ‘surprise’ Moody’s downgrade

February 2, 2023

Get the free newsletter

eNaira Online News

Get the latest news and follow the coverage of eNaira, Business & Financial, Stock Market, Analysis, and more from the trusted sources.

CATEGORIES

  • Banking
  • Business
  • Capital Market
  • Companies
  • Crypto
  • eNaira
  • Finance
  • Opinion
  • Personal Finance
  • Real estate
  • Uncategorized
No Result
View All Result

GET THE FREE NEWSLETTER

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.