Here is the completed Blue Water tower. They are selling apartments here for as little as $103,000, which is like 40 million naira. This is extremely affordable for a modern condo with 24/7 electricity, etc. The problem is that the location sucks. If they built something like this in Eko Atlantic, I would have bought multiple units.

Building is developed by a Lebanese firm with financing from a Nigerian-owned private equity firm.

Aconomist:
Here is the completed Blue Water tower. They are selling apartments here for as little as $103,000, which is like 40 million naira. This is extremely affordable for a modern condo with 24/7 electricity, etc. The problem is that the location sucks. If they built something like this in Eko Atlantic, I would have bought multiple units.

Building is developed by a Lebanese firm with financing from a Nigerian-owned private equity firm.

Show off..why not buy the whole of Lagos..

Otunana:

Show off..why not buy the whole of Lagos..

40 million naira is a normal price to buy or build a house in Lagos. That's not showing off.

Aconomist:
Here is another nice apartment block from Cadwell. Surpised that Nigerians have tastes like this. Doesn't even look like Africa.

I like the architecture.

You need a country at peace with itself first, secondly the financial plans to acquire the property need to be flexible to attract international buyers. Most house are sometimes purchase as assets to be appreciated which means stability need to be guarantee .Lastly Lagos need to quicken it transformation to a tourist and financial hub.

Aconomist:
Skyscrapers are sprouting up all over Ikoyi and Lekki, so why are developers choosing not to build in Eko Atlantic? The whole area should be build up by now. What is going wrong?

to life. What is going wrong?

History shows the Sea of the Bar beach used to overrun its banks and flood everything on that Bar beach road.

Eko Atlantic developers looked at Dubai and decided to sand fill Bar beach to reclaim years of lost coastline from the Sea.

I think most companies choose to be on the path of history and safeguard their investment elsewhere where they can sleep with two eyes closed and not worry too much about flooding from the Sea.

ProtectMyMoney:


History shows the Sea of the Bar beach used to overrun its banks and flood everything on that Bar beach road.

Eko Atlantic developers looked at Dubai and decided to sand fill Bar beach to reclaim years of lost coastline from the Sea.

I think most companies choose to be on the path of history and safeguard their investment elsewhere where they can sleep with two eyes closed and not worry too much about flooding from the Sea.

Bro, there is literally ZERO chance of the place flooding. It's built at a 10 meter elevation above sea level. Nigerians are too scared of everything. The builders are Eko Atlantic tested it to last 1,000 years.

Otunana:

Show off..why not buy the whole of Lagos..

Exactly what do you refer to as "show off",is it 40M? Broda I have met noise makers, trouble makers on nairaland who are worth billions. They only come here to catch their cruise and feel the naija pulse hence i have come to give that respect to everyone one here until it's proven otherwise.
It's a faceless forum,but take it from me,we have men,I mean real men behind most monikers here. Dont underrate anyone here o over 40 Milla,na shi shi for some bro here o

Aconomist:
Here is the completed Blue Water tower. They are selling apartments here for as little as $103,000, which is like 40 million naira. This is extremely affordable for a modern condo with 24/7 electricity, etc. The problem is that the location sucks. If they built something like this in Eko Atlantic, I would have bought multiple units.

Building is developed by a Lebanese firm with financing from a Nigerian-owned private equity firm.

hi bro, I thought the chagoury group own Major stakes in Eko Atlantic, also please where is this buidling and what is its name

awumen:

Exactly what do you refer to as "show off",is it 40M? Broda I have met noise makers, trouble makers on nairaland who are worth billions. They only come here to catch their cruise and feel the naija pulse hence i have come to give that respect to everyone one here until it's proven otherwise.
It's a faceless forum,but take it from me,we have men,I mean real men behind most monikers here. Dont underrate anyone here o over 40 Milla,na shi shi for some bro here o

I believe you very much sir..I just need you to do one thing for me.please list like three of them so I can start following them thank you very much

:Show off..why not buy the whole of Lagos.. 40 million naira is a normal price to buy or build a house in Lagos. That's not showing off.

I would rather Nigeria use's all this free money to build Manufacturing projects that can create a multiplicity of jobs not all these overpriced homes. It seems we have not learnt well from the Obasanjo days where property dev were developing luxry homes at a faster rate in places like Abuja and only a fraction of them remained occupied.
We should start building the foundation for electric cars, green energy, wind turbines, solar battery assembling plants not this...

Aconomist:
My intentions are genuine. Eko Atlantic is the only thing i'm proud of in Nigeria, and I want to see it build up so we can put all the other African countries to shame.

How do you put other countries to shame by completing a project? Are those countries part of the reasons why the project is not completed?
This is a form of shallow reasoning.

Lordbinsmar:

How do you put other countries to shame by completing a project? Are those countries part of the reasons why the project is not completed?
This is a form of shallow reasoning.

You don't understand the expression.

Interesting thread I wonder why a lot of people are triggered �

I dont tink dis grand bogu bajor is cancateted,enough to vugorate mis epifemy in nigeria now.tnks i hope i made my point

Aconomist:
You don't understand the expression.

Please explain Sir.

Lol... OP created an interesting thread but his terrible track record of tribalism has come to haunt him.

WoundedLamb:
Lol... OP created an interesting thread but his terrible track record of tribalism has come to hunt him.

To be honest, you are right.

The problem is competition; nothing else. Similar projects with equal amenities the EAC has to offer abound on the Island. And they are cheaper. Plus, investors are taking advantage of many underdeveloped seasides around Lagos to stamp their signature on the state skyline. The speculation about fear for water surge is just a useless conspiracy. The EA city is being built on a lofty elevated height of land and with the wall of Lagos also shielding it, it should be safe for a very long time to come.
Acquiring land at Eko Atlantic seems to be a little more expensive than at other places, like I pointed, safe for Banana Island of course and when you factor in the fact that there's a minimum limit on sqm investors must purchase and that as an investor, you have to be able to construct a skyscraper to be confident of the ROI, build a green tower in compliance with the trend, amidst some other things to compete, then, you realize that there are few investors around capable of meeting up.
Forget about some rumoured purchase of properties in Dubai. What they buy there are apartments; skyscrapers are expensive to build. So unless Chargoury is ready to finance construction at a speeding rate and sell apartments at whatever pace market permits, the project will go on at this pace for some time more till it will accelerate especially when there is limited availability space because by then, the beauty would be too good to ignore.
One thing is sure, the project will succeed; it's just a matter of time. And it will give rise to another giant housing project...perhaps bigger in the future. The future of Lagos state is bright.

PHAYOL81:
The problem is competition; nothing else. Similar projects with equal amenities the EAC has to offer abound on the Island. And they are cheaper. Plus, investors are taking advantage of many underdeveloped seasides around Lagos to stamp their signature on the state skyline. The speculation about fear for water surge is just a useless conspiracy. The EA city is being built on a lofty elevated height of land and with the wall of Lagos also shielding it, it should be safe for a very long time to come.
Acquiring land at Eko Atlantic seems to be a little more expensive than at other places, like I pointed, safe for Banana Island of course and when you factor in the fact that there's a minimum limit on sqm investors must purchase and that as an investor, you have to be able to construct a skyscraper to be confident of the ROI, build a green tower in compliance with the trend, amidst some other things to compete, then, you realize that there are few investors around capable of meeting up.
Forget about some rumoured purchase of properties in Dubai. What they buy there are apartments; skyscrapers are expensive to build. So unless Chargoury is ready to finance construction at a speeding rate and sell apartments at whatever pace market permits, the project will go on at this pace for some time more till it will accelerate especially when there is limited availability space because by then, the beauty would be too good to ignore.
One thing is sure, the project will succeed; it's just a matter of time. And it will give rise to another giant housing project...perhaps bigger in the future. The future of Lagos state is bright.

Thanks for the comment! great insights

Good analysis

https://www.youtube.com/watch?v=gKtdcO6DPXE

A&A Tower, Eko Atlantic, December 2021 Update