southniyikaye:
10 billion,na sweet in I hear o,am not sure and pls no bashing.uns understand now,I even heard adenuga bought 10 plots there

10 what!!!!.....na mansion?..God bless Nigeria

babyfaceafrica:
Nice..how much is a plot of land there?

Probably better to buy completed apartments you will be able to raise a mortgage for from Nigerian banks. A friend of mine who is a top boy at UBA informed me that they would personally favour mortgages/loans for Eko Atlantic City as it will be a way to get a stock of very valuable and internationally iconic real estate should buyers default leading to repossession. Most land available are in the hands of connected and wealthy speculators who will now demand a big premium to sell to potential buyers like you.

southniyikaye:
10 billion,na sweet in I hear o,am not sure and pls no bashing.uns understand now,I even heard adenuga bought 10 plots there

That is what I was saying with my last post quoted below. The connected in-crowd always get the first bite of the Cherry in Nigeria and even the world in general. Completed apartments and shells will still be available in decent numbers as these will be supplied by actual property developers whose core business is to actually build residential and commercial units as opposed to land speculators who mainly buy land and wait for its value to go up so they can then sell on for a profit.

Probably better to buy completed apartments you will be able to raise a mortgage for from Nigerian banks. A friend of mine who is a top boy at UBA informed me that they would personally favour mortgages/loans for Eko Atlantic City as it will be a way to get a stock of very valuable and internationally iconic real estate should buyers default leading to repossession. Most land available are in the hands of connected and wealthy speculators who will now demand a big premium to sell to potential buyers like you.

Gbawe:


Bruv, you pretty much have the latest pictures relating to stage of work reached. It is a project I am personally keenly interested in as I plan to own a unit or two there. Iconic address worth investing in, even if you do not wish to live there, as rental yield will probably be amongst the highest in the world easily rivalling New York, London, Tokyo et al in comparative percentage yield per annum.

EXPLORE UNIQUE OPPORTUNITIES FOR
REAL ESTATE DEVELOPMENT

Eko Atlantic provides a tremendous amount of opportunities to real estate investors and developers. With 10 million square metres of prime real estate in the world’s fastest-growing megacity; soaring property demand fuelled by a surging population; and a valuable foothold in Africa – widely recognised as one of the world’s last emerging growth markets.

A WIDE CHOICE OF PLOTS AND
PROPERTY DEVELOPMENT OPTIONS
ARE AVAILABLE NOW

One of Eko Atlantic’s most impressive features will be a spectacular central boulevard that will be about 2 kilometres long and 60 metres wide. It will be similar in size to the Champs-Élysées in Paris or Fifth Avenue in New York. The boulevard will have a six-lane carriageway for smoothly-flowing traffic, and a landscaped central reservation.

This wide avenue will feature an array of additional towers climbing no more than 35 floors, turning this inspirational development into a powerhouse for corporate, financial and commercial activity.At the northern end of the boulevard stands an iconic building, which will be about 50 storeys in height and its acquisition represents the highest level of investor confidence in our emerging city.
In addition to carefully controlled city-wide basement and multi-storey parking, more parking spaces will be allocated on the first or second floors of all the buildings, connected by overhead walkways. The ground floor units, which will have direct access on to the streets, will be reserved for shops, bars, cafés and restaurants. Strolling along the wide pavements will be a pleasure, with plenty of opportunities to meet friends or clients for a drink or a meal.

you are on point brother. owning a unit or two there is one of may wishes.

Gbawe:


Probably better to buy completed apartments you will be able to raise a mortgage for from Nigerian banks. A friend of mine who is a top boy at UBA informed me that they would personally favour mortgages/loans for Eko Atlantic City as it will be a way to get a stock of very valuable and internationally iconic real estate should buyers default leading to repossession. Most land available are in the hands of connected and wealthy speculators who will now demand a big premium to sell to potential buyers like you.

hmmmm....even the complted apartments will be way above for rich people ,I guess...maybe 20 billions?...

3 buildings under construction, economy grinding to a halt, what do you think will happen to all those loans used to hold land on that stretch?

Gbawe:


Probably better to buy completed apartments you will be able to raise a mortgage for from Nigerian banks. A friend of mine who is a top boy at UBA informed me that they would personally favour mortgages/loans for Eko Atlantic City as it will be a way to get a stock of very valuable and internationally iconic real estate should buyers default leading to repossession. Most land available are in the hands of connected and wealthy speculators who will now demand a big premium to sell to potential buyers like you.

From the looks of things this project is sold out already. one would have to be connected to get something at a reasonable price. In fact reasonable price is out of the equation. premium price is more like it

babyfaceafrica:
hmmmm....even the complted apartments will be way above for rich people ,I guess...maybe 20 billions?...

i tell ya

babyfaceafrica:
hmmmm....even the complted apartments will be way above for rich people ,I guess...maybe 20 billions?...

No matter what happens to Nigeria economy this project will go on. it's being financed by international investors, worst case scenario is that the project will be delayed a bit.

I'm impressed, way to go.

babyfaceafrica:
hmmmm....even the complted apartments will be way above for rich people ,I guess...maybe 20 billions?...

No. Not feasible or economically sensible from a return-on-investment (ROI) point of view. A very rich politician can advertise his Banana Island property for 10 billion Naira and wait for it to sell for that price for years. Developers, because they often take loan to finance their projects, need to get their capital and ROI (return on investment) in much sooner to stay afloat. 20 billion Naira is over 4 million pounds sterling. You cannot sell an apartment, however prestigious, for that amount in Nigeria, a third word Country, because most residential buyers will be priced out at that price bracket. Meanwhile investors will be unwilling to commit when, for example, the same amount could get them a portfolio of 5-10 properties in London, New York, Paris et al.

I concede the average apartment will be beyond the reach of most Nigerians but this is similar worldwide whereby prestigious development , like the Palms in Dubai, tend to be targeted at wealthy buyers or investors who can source credit.

Gbawe:


No. Not feasible or economically sensible from a return-on-investment (ROI) point of view. A very rich politician can advertise his Banana Island property for 10 billion Naira and wait for it to sell for that price for years. Developers, because they often take loan to finance their projects, need to get their capital and ROI (return on investment) in much sooner to stay afloat. 20 billion Naira is over 4 million pounds sterling. You cannot sell an apartment, however prestigious, for that amount in Nigeria, a third word Country, because most residential buyers will be priced out at that price bracket. Meanwhile investors will be unwilling to commit when, for example, the same amount could get them a portfolio of 5-10 properties in London, New York, Paris et al.

I concede the average apartment will be beyond the reach of most Nigerians but this is similar worldwide whereby prestigious development , like the Palms in Dubai, tend to be targeted at wealthy buyers or investors who can source credit.

nice analysis,but am sure the price will still be very high for a rich man...if you are rich,go to lekki or banana island....any apartment in atlantic city will be astronomous..not that it is bad,but when will an average guy like you and I own house in these type of place?...and please pay a price you think they will sell a 4 bedroom apartment in lagos atlantic city?..thanks

Bleepyou:
Fill in the gap

1. Eko Atlantic will be _________ New london

A. Nigeria

B. Lagos

C. Oodua/ SW/

D. Biafra/SE

2. Who developed Eko Atlantic city

A. Igbos/ugandans/ lost tribe of israel

B. Yorubas/Brownies/Suffersticated region

1. A, B and C except D.

2. B ofcourse

Gbawe:
No. Not feasible or economically sensible from a return-on-investment (ROI) point of view. A very rich politician can advertise his Banana Island property for 10 billion Naira and wait for it to sell for that price for years. Developers, because they often take loan to finance their projects, need to get their capital and ROI (return on investment) in much sooner to stay afloat. 20 billion Naira is over 4 million pounds sterling. You cannot sell an apartment, however prestigious, for that amount in Nigeria, a third word Country, because most residential buyers will be priced out at that price bracket. Meanwhile investors will be unwilling to commit when, for example, the same amount could get them a portfolio of 5-10 properties in London, New York, Paris et al.

I concede the average apartment will be beyond the reach of most Nigerians but this is similar worldwide whereby prestigious development , like the Palms in Dubai, tend to be targeted at wealthy buyers or investors who can source credit.

In summary, this is another bad business by the All ProgreTHIEF Criminals, APC party just like the Sunborn Yacht hotel, not so

[img]http://3.bp..com/-0cjSRaVqdv4/TWEJI4eES7I/AAAAAAAAAO8/nZkAaHlM5IE/s1600/sunbornyatch2C.jpg[/img]


Lagos N8bn Sunborn Yacht deal, bad business — APC


More from: http://www.punchng.com/news/lagos-n8bn-sunborn-yacht-deal-bad-business-apc/

gwales:
Yeebos developed lagos just like they developed lndonesia, Malaysia and Phillipines

you and I know the people that can afford the flats and building. Yorubbers are meant to come and sweep Street for us there. Just like VI lekki Ikoyi. It's very expensive for non igbos to buy. Ask anyone

who are behind those building the edifice in pic

cannot be ordinary yoruba naw?

Igbo man has come to stay in the west even after the SUN rise!

HIGHLY IMPRESSED WITH THE PROJECT. I HOPE OTHER STATES WILL TAKE A CUE. EKO NI GBAJE

temptnow:
you and I know the people that can afford the flats and building. Yorubbers are meant to come and sweep Street for us there. Just like VI lekki Ikoyi. It's very expensive for non igbos to buy. Ask anyone

And what does a village boy like you know about Lagos real estate?

superman:


who are behind those building the edifice in pic

cannot be ordinary yoruba naw?

Igbo man has come to stay in the west even after the SUN rise!

Spare part dealers and computer village traders have bought all the available properties in Eko Atlantic.

this is a big step for Lagos and naija as a whole, vos when other state see the progress of this city they will want to follow suit and do their own, and small small naija go develop to a first world country

This is an incredible feat

Only two buildings till today!