Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,362 members, 7,957,972 topics. Date: Wednesday, 25 September 2024 at 06:13 AM |
Nairaland Forum / Nairaland / General / Politics / Eko Atlantic City On The Rise (8772 Views)
Why EKO ATLANTIC CITY May Just Be The BIGGEST 'Plot Of Water' In Africa! / Ambode Unveils Eko Atlantic Pearl Tower (Photos) / Ambode Visits Eko Atlantic City Project (2) (3) (4)
Re: Eko Atlantic City On The Rise by babyfaceafrica: 4:17pm On Jul 27, 2016 |
southniyikaye:10 what!!!!.....na mansion?..God bless Nigeria |
Re: Eko Atlantic City On The Rise by Gbawe: 4:18pm On Jul 27, 2016 |
babyfaceafrica: 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. |
Re: Eko Atlantic City On The Rise by Gbawe: 4:25pm On Jul 27, 2016 |
southniyikaye: 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. |
Re: Eko Atlantic City On The Rise by yomexp(m): 4:27pm On Jul 27, 2016 |
Gbawe:
you are on point brother. owning a unit or two there is one of may wishes. |
Re: Eko Atlantic City On The Rise by babyfaceafrica: 4:27pm On Jul 27, 2016 |
Gbawe:hmmmm....even the complted apartments will be way above for rich people ,I guess...maybe 20 billions?... |
Re: Eko Atlantic City On The Rise by sultaan(m): 4:29pm On Jul 27, 2016 |
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? |
Re: Eko Atlantic City On The Rise by yomexp(m): 4:31pm On Jul 27, 2016 |
Gbawe: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 |
Re: Eko Atlantic City On The Rise by yomexp(m): 4:34pm On Jul 27, 2016 |
babyfaceafrica:i tell ya |
Re: Eko Atlantic City On The Rise by yomexp(m): 4:38pm On Jul 27, 2016 |
babyfaceafrica: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. 1 Like |
Re: Eko Atlantic City On The Rise by Nobody: 5:44pm On Jul 27, 2016 |
I'm impressed, way to go. |
Re: Eko Atlantic City On The Rise by Gbawe: 6:07pm On Jul 27, 2016 |
babyfaceafrica: 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. 2 Likes |
Re: Eko Atlantic City On The Rise by babyfaceafrica: 6:16pm On Jul 27, 2016 |
Gbawe: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 |
Re: Eko Atlantic City On The Rise by wristbangle: 6:42pm On Jul 27, 2016 |
Bleepyou: 1. A, B and C except D. 2. B ofcourse 3 Likes |
Re: Eko Atlantic City On The Rise by anonimi: 7:06pm On Jul 27, 2016 |
Gbawe: 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] 1 Like 1 Share |
Re: Eko Atlantic City On The Rise by temptnow: 7:35pm On Jul 27, 2016 |
gwales: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 |
Re: Eko Atlantic City On The Rise by superman(m): 8:58pm On Jul 27, 2016 |
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! |
Re: Eko Atlantic City On The Rise by matamaros: 9:15pm On Jul 27, 2016 |
HIGHLY IMPRESSED WITH THE PROJECT. I HOPE OTHER STATES WILL TAKE A CUE. EKO NI GBAJE 1 Like 1 Share |
Re: Eko Atlantic City On The Rise by ba7man(m): 7:30am On Jul 28, 2016 |
temptnow:And what does a village boy like you know about Lagos real estate? 2 Likes |
Re: Eko Atlantic City On The Rise by ba7man(m): 7:31am On Jul 28, 2016 |
superman:Spare part dealers and computer village traders have bought all the available properties in Eko Atlantic. 3 Likes |
Re: Eko Atlantic City On The Rise by Horus(m): 12:45am On Dec 11, 2016 |
The beginning of the promenade at the top of the great wall. The wooden formation seen below will act as mold for the concrete casting Eko Pearl Towers |
Re: Eko Atlantic City On The Rise by Nobody: 1:22pm On Mar 09, 2017 |
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 |
Re: Eko Atlantic City On The Rise by Nobody: 2:24pm On Mar 09, 2017 |
This is an incredible feat |
Re: Eko Atlantic City On The Rise by tck2000(m): 3:55pm On Aug 04, 2019 |
Only two buildings till today! |
Buhari Receives Special Evoy Of Burundi, Niyonzima In Aso Rock (Photos) / Biafra Television Broadcasting (pics) / Lalong Asks Buhari To Revive Livestock Transformation Plan To Stem Insecurity
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 48 |