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Old April 16th, 2013, 09:54 PM   #21
Xtreminal
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Don't want to be pessimsitic but can't see this happening
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Old April 17th, 2013, 01:57 AM   #22
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Quote:
Originally Posted by Xtreminal View Post
Don't want to be pessimsitic but can't see this happening
But it's already happening, the project has been fully funded and 80 percent of land in phase one has been sold to private investors. Investors that will build skyscrapers on their plot of land. So yes it's happening, Investment in nigeria is strong, especially since we are one of the only countries that didn't get effected by the global recession.
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Old April 17th, 2013, 03:21 AM   #23
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So are there people ready buy/rent appartments and office space. If not investors will just sit and wait until demand their is actual demand for what ever they want to build. Now if they build without demand then well they'll own properties that don't make a profit (or even break even) after they've already spent the money to develop it.
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Old April 17th, 2013, 03:41 AM   #24
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Quote:
Originally Posted by Xtreminal View Post
Don't want to be pessimsitic but can't see this happening
Did you not see the first post? The manmade island is already almost complete
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Old April 17th, 2013, 04:02 AM   #25
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Amazing megaproject!
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Old April 18th, 2013, 02:47 AM   #26
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Quote:
Originally Posted by GAR3TH View Post
But it's already happening, the project has been fully funded and 80 percent of land in phase one has been sold to private investors. Investors that will build skyscrapers on their plot of land. So yes it's happening, Investment in nigeria is strong, especially since we are one of the only countries that didn't get effected by the global recession.
Then great to hear. I just want Africa to develop, hopefully no wars and other crap.
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Old April 19th, 2013, 11:26 PM   #27
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Are the Lagos authorities the main investor of this project? I mean, who covers costs of backfilling the sea?

BTW breathtaking project
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Old April 20th, 2013, 12:18 AM   #28
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utopia!
I don't see a single tower erected yet!What this fuzz about this 'non project' ?
to dig sand doesn't ensure you to see this project happens one day
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Old December 17th, 2013, 06:56 AM   #29
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Quote:
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Update


Foundations of First city bridge located in Avenue 1 by the downtown area/business district. City will have 15 bridges
- August 2013




Eko Boulevard - September 2013



Sea Wall passes 4 km in length - October 2013



First Buildings Under Construction - November 2013

This should be one of the residential towers for the Eko Pearl development. Its the first of 5 being constructed.


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Here is the rendering once again of the five towers of Eko Pearl


I think this is an office tower for the oil sector - November 2013



Overall Picture - December 2013


they say that they are on target with the timelines for the land-reclamation.
From the Nigerian Forum
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Old December 17th, 2013, 06:56 AM   #30
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Video Update

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thanks

From the Nigerian Forum
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Old December 17th, 2013, 09:00 AM   #31
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So are there people ready buy/rent appartments and office space. If not investors will just sit and wait until demand their is actual demand for what ever they want to build. Now if they build without demand then well they'll own properties that don't make a profit (or even break even) after they've already spent the money to develop it.
There is a Supply-Demand disparity in Lagos and in many parts of Nigeria. For example in the hospitality sector, there was a massive supply-demand disparity, now Nigeria has the fastest hospitality growth in the whole of Africa alongside Morocco, however even in areas of such growth, the demand still has not been met!

There are a lot of misconceptions regarding Nigeria. For example even the Oil sector is not fully developed to its potential! So even the Oil Sector will comprise a sizeable portion of this project. There are a lot of foreign investments as well that have been put on the back burner, due to the absence of conducive conditions. EAC provides Nigeria's best investment climate and we can expect that a lot of monobrand boutiques, multinationals etc that have put their plans on hold, will realize them through this development.

Office space is actually greatly required in Lagos and A Grade offices are the most required. Eko Atlantic City will offer the fastest A Grade office growth that Nigeria has ever witnessed and this is all based on demand!

You must also remember that Nigeria is growing at 6/7% and has been growing at faster than most economies for the past 15 years. However even this growth is restrictive growth! Nigeria's true growth potential at the moment is double digit - Chinaesque growth and those margins should be expected in the next 5-10 years. So the current demand should even multiply.

Development continues in the adjacent business districts in the interim, but the growth in those districts once again does not reflect Nigeria's true growth potential. You must remember that Nigeria is not a short term boom economy, its growth should continue for a VERY long time in the future.
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Old December 17th, 2013, 06:53 PM   #32
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awesome!!
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Old December 17th, 2013, 07:39 PM   #33
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Amazing.
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Old December 18th, 2013, 09:19 PM   #34
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I am just wondering what high rise developments on reclaimed land mean. Isn't that a tricky thing to secure the foundations for such big buildings on reclaimed land and as a consequence the construction costs rather high? And what about the long term effects? I know that this project is by far not the only one where high rises are build in that kind of environment but I am just wondering about these questions.
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Old December 30th, 2013, 01:46 PM   #35
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Check out the Virtual Tour

Quote:
Originally Posted by megacity View Post
Hey, you can get a virtual tour of the eko atlantic site at this link

http://www.ekoatlantic.com/wp-conten...rtualtour.html


I think its pretty cool. You can pan around and take a closer look at various parts of the site.
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Old December 30th, 2013, 11:05 PM   #36
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Quote:
Originally Posted by Slartibartfas View Post
I am just wondering what high rise developments on reclaimed land mean. Isn't that a tricky thing to secure the foundations for such big buildings on reclaimed land and as a consequence the construction costs rather high? And what about the long term effects? I know that this project is by far not the only one where high rises are build in that kind of environment but I am just wondering about these questions.
Quite a bit of Manhattan is build on reclaimed land.
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