₦airaland Forum

Falomo Towers is an initiative under a public-private partnership between the Afriland Properties and Lagos State Property Development Company (LSDPC)

After 10 years of planning, the Lagos State Development and Property Corporation (LSDPC) sealed a joint redevelopment partnership with Afriland Properties Plc, a private developer and a subsidiary of Heir Holdings (owned by the foremost entrepreneur and banker, Mr. Tony Elumelu), to turn the former Falomo Shopping Complex to a premium sky-high real estate that will enhance the socio-economic outlook of the neighbourhood.

The project was repurposed into what is now being introduced as Falomo Towers.



On Friday 17th June , 2022 heralded the beginning of the construction that will change the skylines of the Ikoyi corridor as we witnessed the SOD Turning Ceremony of The Falomo Towers , Ikoyi developed by @afrilandpropertiesplc in conjunction with @lsdpcofficial.



Thinkmint Nigeria was present at the event and strongly believes that the synergy will greatly revive the well known Falomo area as the project is to be developed on an 11,950sqm land space will be delivered in 30 months.



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.

While Tony Elumelu, Chairman of Heirs noted that the project would be a high rise mixed use development.

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

Christened: “Falomo Towers”, many real estate practitioners are of the opinion that the iconic project would define the skyline of Ikoyi neighbourghood and entire Lagos environs when completed.

The turning of the sod marks the beginning of a practical step to turn the empty space on Obafemi Awolowo Road, near Falomo Roundabout in Ikoyi, Lagos to sky-high mixed real estate development.

Falomo Towers is an initiative under a public-private partnership between the Afriland Properties and Lagos State Property Development Company (LSDPC)

After 10 years of planning, the Lagos State Development and Property Corporation (LSDPC) sealed a joint redevelopment partnership with Afriland Properties Plc, a private developer and a subsidiary of Heir Holdings (owned by the foremost entrepreneur and banker, Mr. Tony Elumelu), to turn the former Falomo Shopping Complex to a premium sky-high real estate that will enhance the socio-economic outlook of the neighbourhood.

The project was repurposed into what is now being introduced as Falomo Towers.



On Friday 17th June , 2022 heralded the beginning of the construction that will change the skylines of the Ikoyi corridor as we witnessed the SOD Turning Ceremony of The Falomo Towers , Ikoyi developed by @afrilandpropertiesplc in conjunction with @lsdpcofficial.



Thinkmint Nigeria was present at the event and strongly believes that the synergy will greatly revive the well known Falomo area as the project is to be developed on an 11,950sqm land space will be delivered in 30 months.



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.

While Tony Elumelu, Chairman of Heirs noted that the project would be a high rise mixed use development.

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

Christened: “Falomo Towers”, many real estate practitioners are of the opinion that the iconic project would define the skyline of Ikoyi neighbourghood and entire Lagos environs when completed.

The turning of the sod marks the beginning of a practical step to turn the empty space on Obafemi Awolowo Road, near Falomo Roundabout in Ikoyi, Lagos to sky-high mixed real estate development.

Urbanization in Lagos has increased the interest in buying a house.

Searching for a property comes with many decisions and should not be done in a hurry.

However, finally moving into one’s dream house comes with a sense of satisfaction and fulfilment of being free from the limitations that come with living in an owned apartment.



In this article are 4 things you need to know when searching to buy a property or house in Lagos

1. Have an understanding of the value of the location to you
Before making a decision of choosing a house location, it is important for you to understand the value of that location. That is, knowing what benefit it has to you.

You will need to ask yourself certain questions such as:

Is the house close to my place of work?
Does the location have ease of access?
Is the location far from factories?
With questions as these, you will be able to make a good choice for your home location.



2. Learn about the property
When you find a property in Lagos you are interested in buying, you will need to learn as much as possible about that property before committing to it and making any down payment.

Ask important questions such as:

What document does the property have?
Do I get an inspection done before signing the contract sale?
Are there any deed restrictions on the property?
Are there any hidden charges?
What is the mode of payment?


3. Find about the neighbourhood
This one may sound funny, but it is a good idea to do a little bit of research on the neighbours who are directly abutting the property you are considering.

You really do not want to get stuck living in a noisy neighbourhood.

So, take your time into doing good research before deciding on making any house purchase.



4. Know the price of the property
Before even looking, you should determine your price range before determining which apartment to consider.

Ask yourself questions like:

What is my budget like?
How much does the house cost?
Remember, house or property prices in differs majorly with location

So, think about how all cost that will affect your finances and stick to your decision on price range and mortgage payment.

Urbanization in Lagos has increased the interest in buying a house.

Searching for a property comes with many decisions and should not be done in a hurry.

However, finally moving into one’s dream house comes with a sense of satisfaction and fulfilment of being free from the limitations that come with living in an owned apartment.



In this article are 4 things you need to know when searching to buy a property or house in Lagos

1. Have an understanding of the value of the location to you
Before making a decision of choosing a house location, it is important for you to understand the value of that location. That is, knowing what benefit it has to you.

You will need to ask yourself certain questions such as:

Is the house close to my place of work?
Does the location have ease of access?
Is the location far from factories?
With questions as these, you will be able to make a good choice for your home location.



2. Learn about the property
When you find a property in Lagos you are interested in buying, you will need to learn as much as possible about that property before committing to it and making any down payment.

Ask important questions such as:

What document does the property have?
Do I get an inspection done before signing the contract sale?
Are there any deed restrictions on the property?
Are there any hidden charges?
What is the mode of payment?


3. Find about the neighbourhood
This one may sound funny, but it is a good idea to do a little bit of research on the neighbours who are directly abutting the property you are considering.

You really do not want to get stuck living in a noisy neighbourhood.

So, take your time into doing good research before deciding on making any house purchase.



4. Know the price of the property
Before even looking, you should determine your price range before determining which apartment to consider.

Ask yourself questions like:

What is my budget like?
How much does the house cost?
Remember, house or property prices in differs majorly with location

So, think about how all cost that will affect your finances and stick to your decision on price range and mortgage payment.

Choosing a home to buy or rent can be a difficult undertaking. Even if you hire a real estate agent to show you around different properties, the process of purchasing or renting a home isn’t complete until you’ve settled on the kind, specification, location, and style of your dream home. What you want in a home is the question here.

The guidelines below will help you answer the above question, making the house purchasing or renting process easier for both you and your realtor. So take a pen and paper and join us as we dissect the most critical aspects to consider when looking for a home.

Choosing a home to buy or rent can be a difficult undertaking.



1. List out your dream house specification
Ask yourself: Do I want a single family home? What physical features best fits my family size? Would I prefer a large home with functional rooms like an office or a study? Would I prefer a small house with two bathrooms?

Your answers will assist you to focus your house search into considering houses that are a better fit your needs



2. Location
Your choice of location may be influenced by factors like electricity supply, access to road, security educational facilities, proximity to work, proximity to hospitals and many more factors

So, putting this factor into consideration is very key in searching for any property to rent or buy.



3. Make a Realistic Budget
When it comes to home-buying, everyone knows the critical rule: Don’t purchase more house than you can afford. Budgeting for a home can be done.

But what constitutes “affordable” will differ from one buyer to the next.

So, it is advisable to make proper budget before making any purchase decision.



4. Inspection
Ensure that all facilities are in good functioning order. You can bring a friend along to gain an objective assessment on the house being inspected. You must be able to envision yourself living in the home.



Kindly share other helpful factors that assisted you while searching for your dream house with other