₦airaland Forum

Life is tough overseas in another mans land. The problem is the same whether in UK, SA, and US.  Not all Nigerians going overseas are the same, some are wealthier and have connections, degrees and others  do not, like not all fingers are the same. Many go overseas searching for the land of milk and honey finding pain and suffering. Its because they go overseas and think they can hussle or just overstay visa and there visit and life will be ok. It will not be.


So many Nigerians in the UK/SA are living in squalid conditions, money does not rain in dollars and sterling. It takes hard work. All these young guys think they have found the new trick, they end up being deported back to MM2, or worse like the thousands not hundreds, thousands locked up in prison.

Folks, how come Ibadan so dey expensive? Its not Lagos or Abuja, but its not cheap?

Iyaganku is good but Bodija is where allot the senators, govenors, bankers, have there mansions.

The one things I am not sure of is what are the eateries like in Iyaganku? I have heard there is a brand new shopping mall going up in the area.

We need to compile a small list of the 5 top areas!

??

419 Scammers at there best, EVERY DAY FOR THE THIEF BUT ONE DAY FOR THE OWNER!

People get married for the wrong reasons we brorhers are so quick to chase the hottest thing on the block. But, so slow to ask whether the person has the same values as we do, or would make a good wife, mother, and friend.  Marriage is work, people forget that, you have to put the effort in for it to grow. We treat marriage like its the new BLACKBERRY, good for a season, but the next model is coming soon.

Bros, I guess Loyola is living off the fumes glory of its past  .

Where is this IMPA GRA? Heard there was this new Gra near Akobo being built, Kola Ishi? And maybe one near the new shopping mall being built in Iyanguku?

Ebutte Mette is not that great, allot of factories, lots of people, however close to the Island. Probably a better bet Ikeja or maybe Abule Egba business to residential mix.

Check out Surelere or Magodo also!

A Nigerian, is defined by the ability to have faith despite all odds, to be able to see the dust in the field, but know fruit will grow, to survive without water and hope, and florish. Where ever Nigerian seeds have fallen around the world whether Yankee, China, Uk, the seed stills grows.

Femi-bros thanxs

What are the schools like in akobo? Is there tarred roads? Some one recommended Loyola College School? What do you think of Gate, Agodi?

So looks like Bodija and Bashorun are to expensive, ie upper class to upper middle class areas. The highest I could push for may 5million aplot.

martinosi

International bond market right, I get it, but did you know that SP and Moodys the credit agencies did not give these banks your bragging about a rating. Meaning international banks did not know there credit worthiness. The banks had to finance the debt strictly through the domestic market. Its also the main reason the CBN has tried to come in clean up the banks. Without a credut rating, no good corporate governance no international bonds. Your looking at a western model, not how business is done in Naija and emerging markets!

Pimco had nothing to do with this at all. Sorry, dude!

If you don`t believe https://www.nairaland.com/nigeria/topic-474907.0.html

Eze

Lets get back to history and giving you some education. Dude, I am serious it shows you never left naija, these grand statements


London had megaslum in victoriamn times, most of east london was a slum , http://www.victorianlondon.org/houses/slums.htm


As to comparing it Mumbai, its a perfect example, the largest slums in the world are in Asia mainly Mumbai http://en.wikipedia.org/wiki/Dharavi, as my boy have stated  they problems with power and water, ere our friends at the bbc can tell you http://news.bbc.co.uk/1/hi/world/south_asia/8138273.stm.

As to building a new city, they have  http://en.wikipedia.org/wiki/New_Mumbai, they were not small minded, they were able to take a leap forward.

Martinosi,

dude sorry, energing market finance is being done by soveign wealth funds, and private companies, not in London or NYC. There is not the liquidity for these project for internation al bonds sovereign debt has pushed these people out.

Wow-eze

Do know your history? Have you ever left naija? These place had slums just like Lagos, before they developed, most cities did up until 40 years, when Lagos was small. Lagos is having the same problems as victorian London, the main difference is that UK has industralized, and naija is industralizing just like mumbai, Sao Paol, Jakarta and Manilla, hence the need for a new island.


The largest slum in the world is in mumbai, and they basically built a brand new modern city as well.Its called New Mumbai

What I am saying is what ever semantics you want to use, or what ever examples you want canary wharf, dubai,
boston, san franscico, the premise is the same the reclaiming of land, or islands, for the use of building new parts of the city. Even Alexandria by Alexander the great.

It is feasible and will continue to happen.

ezeagu

Right, artificial land? used for business?


The Isle of Dogs is situated some distance downriver from the City of London. The area was originally a sparsely populated marshland before its drainage and planting in the 13th century. Dutch engineers reclaimed the land 17th later urbanised,

What is the price in these areas? How close to bodija? Are they same quality?

Thank you know all!

Your still living on fantasy.

Again, this is private money, and why does it need to be inland? There is no space, unless you demolish peoples house.

Beijing did what you are saying, inland but they destroyed houses and lives! Have been to London my friend? Because this just like Canary Wharf! It was abandoned land that private developers took over to be an independent hub out side the square mile.

Ezeagu,

No logic, did you read the new lagos master plan? Ha Ha? No! There are already project earmarked for inland as well. Fashola, wants modernize all of the city.

This is best avenue without destroying peoples home and people complaining of land grabs, like Maroko!

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My range is 1=2.2mil for two plots? What are eateries like in bodija? Would it be a good area set up a business? Have you heard of an area called bashorun?

Also need to be near schools for my son.

Wanted tWo plots in Ibadan . Need cheap price, tarred roads.  What are the best areas? Bodija or Oluyole?

kobojunkie

Eko altantic was financed by financial partners Guaranty Trust Bank, First City Monument Bank and First Bank, US$400 million were lent, all nigerian banks

The mainland has not been forgotten by a long shot, Ground breaking at Actis’s US$100m Ikeja City Mall site

8 June 2010
On Monday 7 June, Actis marked the start of construction at the US$100m Ikeja City Mall site in Lagos with a groundbreaking ceremony attended by representatives of HE Governor Babatunde Raji Fashola, Executive Governor of Lagos State, and project partners Paragon Holdings and RMB Investments & Advisory (‘RMBIA’).

Actis and Paragon Holdings have been working on the planning of this world-class retail and leisure development for the last two years. Actis is the 60% majority owner; Paragon Holdings and RMBIA each hold 20% equity stakes in the project.

Ikeja City Mall will be an international standard leisure and shopping centre with restaurants, a cinema and retail outlets; it has been designed to service the Lagos mainland and return Ikeja to its status as the traditional retail hub of the city. The project will initially develop 28,500m2 of leisure and retail shopping space; anchor tenants already secured include Shoprite and Silverbird.

Speaking on behalf of Governor Fashola during the ceremony Ganiyu Abiodun Johnson, Special Advisor on Works and Infrastructure said: “Ikeja City Mall is a landmark project for Lagos. It will bring shops and services to the local community, it will boost the supply chain both locally and nationally, and it will bring significant direct and indirect job opportunities.” He continued: “This is the second project of its kind which Actis has led in Lagos and I commend Actis and Paragon for the vision and drive they have shown in getting this development off the ground. I am honoured to oversee the official start of construction; it is projects such as Ikeja City Mall which will help us secure a better future for the citizens of Lagos.”

Ngozi Edozien, CEO, Actis West Africa said: “Ikeja City Mall builds on the success of Actis’s pioneering Palms Mall in Lekki and stands as testament to Actis’s strong and long-term commitment to Nigeria and West Africa.”

Michael Chu’di Ejekam, Actis Director, Real Estate said: “The Ikeja City Mall heralds the beginning of a retail and leisure revolution in West Africa; there are 3.9 million potential customers within an 8km radius of the site but in addition to the local impact, we expect the Ikeja City Mall to become a hub for visitors from across the region, and further afield. We would like to thank the Governor and Lagos State for their support so far and for taking the time to attend the ceremony today.”

Speaking about the project Afolabi Toyo, Executive Director of Paragon Holdings said: “We are committed to developing a sustainable retail and leisure centre that benefits the local community. There will be significant employment opportunities during the construction and operation phases, and we look forward to bringing this world-class real estate project to fruition.”

The project is financed by a mixture of debt and equity, with a debt facility of US$48.6m secured from Stanbic IBTC Bank Plc, and Standard Bank of South Africa Limited.

The project has enjoyed the full support of the Lagos State Government and His Excellency Babatunde Raji Fashola, in line with the government’s strategy to develop infrastructure and services. A large portion of the available space has already been let, but limited space remains for high quality tenants. Construction at the mall is due to be completed by the end of 2011.

The Ikeja City Mall development follows Actis’s successful investment in Nigeria’s first modern style shopping mall, The Palms; as well as Junction Mall in Nairobi, and Accra Mall in Ghana.

h

THE PROJECT WAS FINANCED BY http://en.wikipedia.org/wiki/Eko_Atlantic_City NIGERIANS AND WE NEED TO BE PROUD.

EKO ATLANTIC IS THE FUTURE AS EMERGING MARKETS BECOME THE CENTRE OF THE WORLD. http://bx.businessweek.com/emerging-african-economies/view?url=http%3A%2F%2Fc.moreover.com%2Fclick%2Fhere.pl%3Fr2934869638%26f%3D9791

AFRICA NEEDS A FINANCIAL HUB, AND LAGOS SHOULD BE IT.

Kobojunkie

CALL YOU FRIENDS IN LAGOS  I AM NOT BEING RUDE. THEY WILL TELL YOU THAT THERE HUGE PROJECTS GOING ON AND ITS NOT WESTERN COMPANIES SPENDING THE MONEY. ITS INDIAN, CHINESE, RUSSIAN, LEBANESES, SOUTH AFRICAN, AND EVEN JAPANESE, NOT EXCLUDING THE NIGERIAN BASED ONES AS WELL.

THERE HAS BEEN A MAJOR SHIFT AWAY FROM WESTERN ONLY COMPANIES. TO BE HONEST THE WESTERN COMPANIES ARE EVEN GETTING OUT BID ON PROJECTS OR SIMPLY CANNOT COMPETE WITH THE CHINESE.
SOMEONE BACK ME UP?

Martinosi- MUGU



THIS DID NOT PASS THROUGH LONDON, THESE OYIBO FOLKS DID NOT CARE OR BELIEVE IT COULD BE DONE. THE FINANCING CAME THROUGH NGERIAN BANKS AND THE CHINESE CONSTRUCTION BANK, THE REST OF THE LEKKI CONSTRUCTION FINANCED BY THE CNPC,  FOR WHICH I AM SURE YOU DO NOT KNOW ABOUT IS A STATE SPONSORED CHINESE CONSTRUCTION COMPANY. THE ONLY PLAYERS  WHO CAN FINANCE A PROJECT LIKE THIS ARE THE SOVERIEGN WEALTH FUNDS AND THE CHINESE, MOST EUROPEAN BANKS ARE STRUGGLING TO RAISE MONEY ON THE CAPITAL MARKETS, AND THE AMERCICAN BANKS ARE SKITTISH SINCE THE CRISIS. CHASE AND PIMCO DID NOT HAVE ANYTHING TO DO WITH THIS.

YOU ARGUEMENT IS THAT MOST EMERGING MARKET FINANCE ORIGINATES IN THE CITY, NOT ANYMORE http://bx.businessweek.com/emerging-african-economies/view?url=http%3A%2F%2Fc.moreover.com%2Fclick%2Fhere.pl%3Fr2934869638%26f%3D9791

WHEN WAS THE LAST TIME YOU WENT TO NAIJA?

SERIOUSLY, THERE ARE ALLOT MORE FOREIGN COMPANIES IN NAIJA DOING BUSINESS INSTEAD OF LONDON AND NYC BASED!!!

martinosi- get educated.

No international bonds were used to underwrite this debt, when the project was conceived nigeria had just cleared its debt and was unable to raise debt. Only the fed government has access to the international markets for huge capital,, this is financed by nigerian banks! Hate to say this but westerner were did not care about this project, it was a solely indigenous affair.


Secondly, this not dubai, this relatively small, we are not talking the palms island or anything.

Kobojunkie you talk allot of trash to be hailing from the cesspool of columbus, OH.  

Can someone tell me the differences in price between oluyole extension and bodija? Which is better? thnxs

@martinosi

Read the lagos master plan fashola has not forsaken the mainland, there are trains from VI to Ikeja, and others being built. He trying to decongest, and removing financial and industry to other area, Each area will have there own business district

Does anyone remember that GSM phones was privately funded, that the glo and marine 1 was also. Lagos is going to expand no matter what, we need a modern commercial district, we need to provide jobs, without destroying peoples homes.

Secondly, look at Mumbai and dhavrai, the largest slum in Asia, the are reclaiming land and making a modern financial hub. Wake up people this is away to compete with NYC, te center of the world is moving east and we better step up.

Good work Pad, I am a skyscrapercity naija addict!