₦airaland Forum

…LSDPC partners private developer to re-model fallow land for mass housing scheme

…‘Lagos remains most hospitable environment for investors’ - Elumelu

A major urban renewal project that will restore the aesthetic landscape of Falomo, the commercial suburb of Ikoyi in Lagos State, has been flagged off by Governor Babajide Sanwo-Olu, on Friday.

Lagos State Development and Property Corporation (LSDPC) sealed a joint redevelopment partnership with Afriland Properties Plc, a private developer, to turn former Falomo Shopping Complex to a premium sky-high real estate that will enhance the socio-economic outlook of the neighbourhood.

Falomo Towers, being developed on 11,950 square metres of land, will offer a blend of green amenities that will promote quality living.

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

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.

The Governor said the project was another milestone achieved by his administration to renew urban amenities, stressing that the strategic implementation of the Lagos Masterplan had been dependent on the Government’s ability to forge workable partnership between the public and private sectors.

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.”

Sanwo-Olu described Afriland Properties as a tested, trusted and reliable developer, saying the Corporation had found the right partner for the redevelopment project.

The Governor reiterated 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.

Elemelu said the partnership was another testimony to the Lagos State Government’s belief in the private sector as a key development driver in the State, praising the Lagos political leadership for setting the pace of private sector inclusion in governance.

For surmounting obstacles that delayed the take-off of the partnership, Elumelu said Lagos remained the most hospitable environment to investors seeking profitable return on their investments.

He said: “I commend Gov. 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 driver of development in the State

“For 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.”

LSDPC Chief Executive Officer, Hon. Ayodeji Joseph, said the project site evoked memories of a glorious past for Island dwell in the 1970s, noting that the Corporation took an informed decision to turn around the site by building residential apartments to provide additional accommodation to the growing middle class, business professionals and the swelling rank of young citizens.

He said: “Over forty years down the line, the Corporation in its decision to renew some of its facilities has deemed it fit to redevelop the site of the shopping complex, taking into consideration the realities of today’s needs as well as the environmental impact implications.

“To achieve this purpose, we decided to mobilise finance from the private sector. This decision will free resources that could otherwise be tied down to this project, for other pressing needs. In addition, it will allow the project to benefit from the competitive efficiencies for which the private sector is better known.”

Chief Executive Officer of Afriland Properties, Mrs. Uzo Oshogwe, noted that the redevelopment project was a revival of a landmark, saying: “With the project, we tend to give Ikoyi back its aesthetic landmark

She said the iconic project would enhance and beautify Ikoyi skyline, adding that the partnership would be creating economic opportunities and social wealth that would transform the State and the country.

The project development is expected to be completed in 30 months.

https://lagostoday.com.ng/housing-sanwo-olu-flags-off-development-of-falomo-towers-in-ikoyi/

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As Lagosians, we can achieve more than this if only Tinubu will stop breathing down on our neck demanding for billions every week

Still part of Tinubu agenda

When will Lagos state get rid of Agberos? That will be her greatest development.

This one is strictly for billionaires.

U can never see this kind thing for afgaEastan

I hope it won't collapse bcuz IKOYI is synonymous with building collapse


And I also hope it's not another tower for Money stashing

Hmm

This man is nothing more than the “Minister for Lagos Affairs.”

Let’s shun sectionalism and decentralize our development efforts.

Weldone .

Eko oni baje

Nd guess it Tinubu that owns it

Okay

money121:
…LSDPC partners private developer to re-model fallow land for mass housing scheme

…‘Lagos remains most hospitable environment for investors’ - Elumelu




https://lagostoday.com.ng/housing-sanwo-olu-flags-off-development-of-falomo-towers-in-ikoyi/

You don't know the meaning of mass housing

Nice development.

From all of us @[/b] :
GOD BLESS SANWO-OLU.

Lagos State : A country within a country.

The State of many Firsts.

[b]God bless Lagos State.

God bless Nigeria.

We Rise.

kayusely70:
You're very much in order!

Gbamsolutely!!!

Golan007:
What is true is that Lagos state is enabling environment for businesses borne about by the desire of its citizens to work and create.

This extends to the government of the state because living in the state imbibed a culture.

Another Gbamsolutely!!!

Fahdiga:
As Lagosians, we can achieve more than this if only Tinubu will stop breathing down on our neck demanding for billions every week

Awww, didn’t know you love Lagos this much
Which state are you from btw

Another igbo man, an illustrious son of Alaigbo, Tonu Elumelu is about to benefit immensely from "Tinubu's Lagos" yet igbos are the #1 group campaigning against Tinubu and launching attacks on his personality day and night 24/7.

Lagos and indeed the entire Southwest has been a huge tremendous blessing to us igbos, perhaps even more than any other tribe, yet those foolish triibalistic igbos will open their smelling mouths waaaa to curse Tinubu everyday. Southwest has made more igbos millionaires than Alaigbo ever did. O bu Chineke ga-ekpe unu ikpe ndi kpuru isi na ndi nzuzu na-achi agburu


Tinubu #Cityboy 2023

.

Dodoyo governor.

Working governor.

Let those who can't stay in their home state come and abuse him.

Totilopussylick:
Still part of Tinubu agenda

How? Pls explain

Fahdiga:
As Lagosians, we can achieve more than this if only Tinubu will stop breathing down on our neck demanding for billions every week

Study capitalism and development. Also study the disadvantage.

You will delete your comment o. Tinubu has done nothing wrong so far. He has only live by the rules of life. Which all elites all over the world applies.

Also try to make money... and try to make more money and come and tell how different you want to be from Tinubu. Lol

Totilopussylick:
Still part of Tinubu agenda

Taa getat

Not impressed

Ok

Lagos State Development and Property Corporation (LSDPC) sealed a joint redevelopment partnership with Afriland Properties Plc, a private developer, to turn former Falomo Shopping Complex [
to a premium sky-high real estate that will enhance the socio-economic outlook of the neighbourhood

is that all??

Back in 2015, You voted an incompetent dunce a.k.a Mannequin at 21 years old, by 2023 you will be 28 years old with no meaningful progress in your life. Continue.

If you like vote old cargos like the frog eyed drug baron from Iragbiji i.e Mannequin 2.0 with no vision, you will regret it.

Your 30s will be wasted and at 40 you will have nothing to show for it.

Don't waste your life... Be warned.

#2023

Good job.