Construction Work On Eko Atlantic City To Commence Soon.

Actual construction work will soon start on the site of the Eko Atlantic City, a futuristic real estate project being planned along the shores of the Atlantic Ocean in Lagos State, following the successful reclamation of about 820 hectares of land.

The project is planned to complement the much sought after Victoria Island, which has become saturated in terms of transportation and land availability for new development, coupled with the huge shortage of hotel and residential facilities in the area.

Hence, a decision was taken by the Lagos State Government to expand the present Victoria Island and protect it by reclaiming land lost to the Atlantic Ocean and create the most valuable land in the state where people will live and work.

According to the Commissioner for Waterfront Infrastructure Development, Prince Adesegun Oniru, the overall concept of the Eko Atlantic City development is to restore land lost to coastal erosion since the 1950s and to provide a permanent solution to the erosion by providing a robust sea wall or revetment along the newly reconstructed coastline.

Oniru, who spoke on the progress of work on the project in Ikeja on Wednesday at a ministerial press briefing by the ministry to mark the second year anniversary of the Governor Babatunde Fashola‘s administration, said that Eko Atlantic City would rise as the next generation of real estate developments in Africa.

The turning of the sod for the project was performed on behalf of President Umaru Yar‘Adua by his Chief Economic Adviser, Mallam Tanimu Yakubu on April 18, 2008, while reclamation work commenced on June 9. The project is mainly a private investment initiative with no direct government funding.

As at the end of February, 2009, a total area of 3,078,757 cubic metres had been sand-filled and placed in the reclamation area, while about 35,000 tonnes of rock had been delivered to the site from Ibadan, Oyo State, for the revetment.

A total length of 6,500 metres had been earmarked for development along the Atlantic with an average width of 1,260 metres, while a 30-metre wide central waterway had been incorporated into the development to provide water transport facilities connecting the three marinas.

Eko o ni baje

lagos will soon reclaim its title CENTER OF EXCELLENCE.

EKO ONI BAJE

Try 

info@ekoatlantic.com

This project kind of reminds me of V & A Waterfront, Cape town, SA.   100% owned by the private sector, with the majority held by Dubai World

Eko, the centre of excellence oni baje ooooooooooooooooo

up fashola!!! carry on joo eko o ni baje o
Uncle raji nothing do u

Thanks my man.
i have sent a mail to that email.
still waiting for response.

LOL!! Surely you jest. In any event the poor will always be there but we can only have one Eko Atlantic city. This is strictely a private initiative with lagos state government assistance.

Double Talk - when the Federal Government embarks on Lagos/Kano railine, you all said it was a waste, when they were to build from PH to Maiduguri, you all said we need food, you all said, no, it wasnt necessary, when government wants to build ten lane Airport to Abuja road, you all cried wolf, how come this is now a project that benefits the poor? How does it benefit the poor man? The poor man can buy into this estate?

LMAO!!

@topic

I will love to se it.

i swear, no common man will be able to own a property on this estate, it is people who already have five to ten houses of their own that can afford to buy property there, how thus this favour the poor?

On face value and in the short run, this is a wonderful projects, it can turn Lagos into a mini Dubai. It will benefit the whole of Lagos state if not the whole of Nigeria, But there is a Caveat.

I lived over 25 yr in Victoria Island and i am  a witness of how erosion brought the shoreline of the Bar Beach from over a kilometer away to Ahmadu Bello Way. Same for Lekki Beach and I hear Eleko Beach has also been Eroding. This is due to two main factors, the Beaches of Lagos are facing the full force of the atlantic ocean and so the waves are pulling the sands of the shoreline into the ocean. Also the polar ice caps are melting as a result of Global warming and the sea level is rising and is expected to rise further in the coming decades. So we can expect quicker erosion taking place.

I know how may billions had been sunk to periodically reclaim Bar Beach and they say that they have found a permanent solution ( i keep my fingers crossed).

I just think it is risky to site such a huge project so close to the beach line, it will require billions in the future to maintain just like Ahmadu Bello rd. They should have moved tho project a bit inland, maybe Ikorodu or Epe which is a high land. 

The poor man can get a job in this place to feed himself, and rent a place. The govt can use  tax money form this area to provide housing for the poor man. The problem with poverty is that there is not enough job opportunities, this type of project provides jobs.

You might say how about the N14b the state is making now, The truth is that for a population of over 15 billion it is not enough especially when more tha 50% is going to payment of civil servants salary. And this same civil servats are already asking for an increase in salary.

This is just not an estate, its a city it will provide daily jobs that goes beyond construction. The people that will be living in this Eko Atlantic, left an area of Lagos to move here, so there will be more homes for the masses to rent.
The greater the supply of homes then the prices of homes will fall.

The current administration is also building homes and estates for the masses. But it cannot spend all the money it has doing that, especially when on a daily basis more and more people are moving to Lagos. No matter how many homes the govt build it will never be enough. That is why its better they invest in infastruture to get investors to build both low income and normal housing.

The hosuing issue is not something a state can solve alone, Fashola said it himself, there is nothing like low-income housing when one of the most important material (Cement) is a monopoly in Nigeria.