The Nation Newspaper

Category: Building & Properties

  • NCF raises alarm over sand mining, dredging

    The Nigerian Conservation Foundation (NCF) has expressed concern over the menace of sand mining and dredging in some parts of Lagos State.

    The organisation has called on the relevant government agencies to curb the menace before it gets out of hand.

    The Lagos-based environment watchdog said as the demand for sand increases in the construction industry, the act is  becoming an environmental issue.

    In a statement,  its Director-General, Adeniyi Karunwi,  noted that the industry has created huge opportunities for both skilled and unskilled labour in Lagos.

    This, he said, had led to an increase in sand mining, with its attendant environmental and economic consequences.

    He said the continued dredging in the state’s shorelines is an illegal activity capable of causing major environmental challenges for the state.

    Describing environmental impacts of sand mining and dredging as disastrous, Karunwi listed soil erosion, formation of sinkholes, loss of bio-diversity, soil contamination resulting from leakages of chemicals into the soil, deforestation, coastal erosion and loss of aquatic lives as possible effects of dredging and mining.

    “For instance, dredging in some places has been largely responsible for the loss of breeding habitats for sea turtles, which depend on sandy beaches for their nesting and other biodiversity. The demand for sand for the construction of roads and buildings has increased sand mining and dredging leading to a high demand for low-cost sand,” he added.

    Karunwi explained that a  biodiversity survey by a team of ornithologists along the lagoon in Lagos (from Sangotedo to Badagry), showed an unprecedented proliferation of dredging activities, a situation he believes may be lacking in regulation and coordination.

    Such uncoordinated activities by miners and dredgers, he feared, could cause great depths of almost six metres in the seabed, as reflected in the Banana Island to Third Mainland Bridge axis reported by the Nigerian Institute for Oceanography and Marine Research (NIOMR). The report further noted that depth was noticed in some of the areas where the Institute carried out the research.

    “It is, therefore, in the light of the foregoing, that NCF is calling on the relevant government agencies responsible for stemming this increasing tide of sand mining and dredging, to put a halt to it before it becomes a monster that would eventually consume us.”

  • Protect endangered wildlife, envoy urges Nigerians

    The United States Deputy Chief of Mission Mr. David Young, has urged Nigerians to stop destroying the habitat of the country’s endangered native species, including the Cross River gorilla and Nigeria-Cameroon chimpanzee.

    At an event organised by the U.S. Consulate-General, Lagos and the Lekki Conservation Centre in commemoration of the World Wildlife Day, Young welcomed actions by the Nigerian government to adopt legislation against trafficking of endangered animals. He contrasted the economic benefits of sustainable ecotourism with the potential socio-economic impact continued wildlife trafficking could have on the country.

    “Sustainable ecotourism is important to many nations of Africa, creating numerous tourism sector jobs.  Conserving natural resources is vital. If Nigeria loses its precious large apes and other mammals, ecotourism revenue and jobs disappear with these animals,” Young noted.

    He observed that communities  have the most important role to play in the matter, urging them to refuse to do business with illicit traders and poachers.

    Young said  in the social media age, it has become possible for everybody to hold people accountable for what is happening – documenting the dangers, and joining together for action.  “So I urge you take up the challenge to preserve your forests, and the wildlife that depend on the remaining forests to survive,” he added.

    The United Nations General Assembly on December 20, 2013, declared March 3 yearly as UN World Wildlife Day to celebrate and raise awareness of the world’s wild animals and plants.

  • Will PPP solve water crisis?

    Will PPP solve water crisis?

    Nigeria faces a huge challenge sustaining its water resource, projected to reduce from 2,506 cubic metres yearly from 1995 to 1,175 cubic metres in 2025, if not well managed. States, such as Lagos, are, however, taking the bull by the horns to provide potable water through public-private partnership (PPP). But, at what cost is this to the masses? Assistant Editor MUYIWA LUCAS asks.

    In 1981, the late Afro beat king, Fela Anikulapo-Kuti, released one of his greatest hits: Original  Suffer Head. In the album, Fela tried to capture the people’s sufferings in their struggle to get four essentials of life – water, food housing and light.

    Thirty-six years after this album, Nigerians’ struggle for these necessities has become more intense, with the hope of gettingthese essentials fading.

    More elusive in this search is safe drinking water. Indeed, water is a vital resource that constitutes a strategic issue. It attracts the attention of the entire international community who now facilitates access to and management of safe drinking water. The importance of water is further accentuated with its inclusion in the eight Millennium Development Goals (MDGs) set by the United Nations Development Programme (UNDP).

    Nigeria is endowed with water sources spread across various locations from the coastal region to the arid zone, yet harnessing the huge water and sanitation for the populace remains the lowest in the world.

    According to stakeholders in the water industry, more than 66 million Nigerians do not have access to potable water. This is despite the fact that the three levels of government – federal, state and local are entrusted with the responsibility for water supply. The Federal Government is in charge of water resources management; state governments have the primary responsibility for urban water supply, ditto local governments while communities are responsible for rural water supply.

    At present, Nigeria is not on track in hitting the MDG for water and sanitation. Initially, the country had envisioned that by 2015, 74 per cent of the population would have been supplied with safe water – a target it never met. With the slow pace of progress, the target may not even be met in the next 20 years.

    Experts agree that efforts are needed if the situation is to improve. This is why the United Nations Children Education Fund (UNICEF) has supported rural water supply, sanitation and hygiene in communities and schools across the country since 2002. UNICEF’s interventions have been financed by the United Kingdom’s Department for International Development (DFID) and the European Commission. A total of 6,960 new safe water sources (boreholes-dug – wells and protected springs) and over 19,100 household latrines have been constructed. Over 400 schools have been provided with latrines with separate provision for boys and girls and hand washing facilities.

    But these interventions seem to be a drop in the ocean. Few months ago, the state was hit by acute water shortage. This is notwithstanding the presence of diverse water bodies that surround the state.

    The Lagos State Commissioner for the Environment, Dr. Babatunde Adejare, said the presence of these water bodies does not  stop the state from experiencing what every other cosmopolitan city contends particularly the aspect of access to safe water.

    This, he said, was the reason the state government had been investing heavily in the water sector. He said the Lagos water project, which is anchored on a 15-year expansion programme is not limited to the urban areas alone as it is the desire of the state government to ensure that every part of the state has unrestricted access to potable water supply. The project entails the rehabilitation and expansion of water supply facilities, transmission and distribution systems, improved administrative infrastructure and institutional support.

    The first phase of the project, being coordinated by the Lagos State Water Corporation (LSWC), involves the construction of 15 mini- micro water works that have can produce 30 million gallons daily across various parts of the state to improve accessibility. However, the long-term plan is to resuscitate the Adiyan and Iju water works, which can produce 230 million gallons daily, if fully operational.

    Adejare explained that the other part of the long-term plan is to encourage private sector participation in the water sector. This explains why it is investing heavily in the sector to make it attractive to private investors who will subsequently device creative strategies that will make the sector lucrative for investment.

    He explained that globally, funding of government programmes and projects can no longer be sustained by the government alone, hence the Public-Private Partnership (PPP) initiative. It is a contractual relationship between the private and public sectors. It is a collaboration geared towards ensuring communal, state or national socio-economic development that is comprehensive and self-sustaining. It is an arrangement with direction and defined roles and responsibilities of all the actors in the plan. It is also a financial module designed to attract private investors to engage in infrastructural projects with short and long term benefits to the people.

    However, the PPP issue has drawn the ire of the public who are of the opinion that by so doing government  increases the burden on the people. They are livid that the government is abdicating its responsibility of water provision to the citizenry.

    Besides, they frowned at the recent decision to regulate haphazard bore hole drilling as well as certify borehole construction and regulate the practice.

    To the citizens, it is absurd that if they have to provide water for themselves. Why then should the government levy or tax them for doing so? they asked. Yet, to the government, the decision is to regulate and standardise the operation of drillers in the sector; it is mainly aimed at ensuring that best practice is strictly followed for health factors.

    Adejare has since been clarifying this, explaining that the government has not introduced charges for water consumption from boreholes, neither has it criminalised the sinking of boreholes.

    The sinking of boreholes and  water charges and the environment Protection and Management Law, he said, recently signed by  Governor Akinwunmi Ambode would not hinder the people’s access to good and potable water.

    He explained that for commercial users of borehole, some measure of control and charges were applicable as water is a resource that must be protected. At the moment, he said,  the state charges about five kobo per litre of water. He defined commercial use of borehole as the consumption of minimum of 50 drums daily, adding that no individual or household could use 50 drums of water daily, except for commercial purpose. Therefore, he said, only commercial users, such as soft drink manufacturers, and water production plant owners would be asked to pay.

    The requirement for permit, he argued, should not be misconstrued for indiscriminate charges, adding that registration of boreholes was necessary for the government to have an inventory of sources and quality of water used by the people in the state and track sources of pollution of the underground water.

    “The essence of obtaining permit is not pecuniary but to create and enhance a database of boreholes, ascertain quality of water being consumed by Lagosians and track the sources of underground water pollution. Water is a resource that ought to be protected and this is why the government recognises the need to minimise the pollution of the underground water by controlling indiscriminate sinking of boreholes,” he said.

    According to him, no government would allow uncontrolled pollution of the underground water through indiscriminate sinking of boreholes as they are windows into the aquifer. “By controlling the sinking of boreholes, we would have done a lot to curtail the outbreak of water borne diseases,” he stressed.

    He said further that the law on water charges was not new as it had been in existence since 2004, to control indiscriminate sinking of boreholes.

    In adopting this strategy, the government is not abdicating its reoles, but essentially releasing scarce resources for other important projects to create a win-win situation for the government and the private enterprise. The major advantage of the involvement of the private sector in governance is the efficiency it brings to project management.

    The issue of wastes, delayed delivery and abandonment associated with public projects is highly minimised. This is as a result of the optimisation of the returns on huge investment of the private sector.

    In Africa, PPP model in water supply can be traced to 1959 with the implementation of the Cote d’Ivoire urban water Affermage – a successful operation that continues to provide water to over seven million people.

    In Ghana, the private sector is  involved in urban and small-town water provision as the government strives to improve access to water supply services for its citizens in line with sustainable development goals.

    Between 2001 and 2013, in Niger Republic, the PPP model has improved access to potable water supply.

    In Nigeria, many state governments have opted for the PPP model in water supply.

    Across the globe, many countries are also rooting for the PPP model in water supply.

    For instance, in the United States, United Kigdom (UK), Brazil, Philippines, Haiti, China, Germany, Mexico, Australia, Morocco, Romania, among others, the PPP model is in vogue.

    When considered that yearly population growth rate in Europe is only about 0.22 per cent compared to three per cent of Sub-Saharan Africa, it is quite imperative that African states urgently seek alternative means of funding infrastructure development in the water sector.

  • A rock and a hard place

    A rock and a hard place

    The Vice President, African Region, International Real Estate Federation (FIABCI), Kola Akomolede, x-rays the comparative advantage of investments in treasury bill and real estate. Drawing from practical experience, he establishes why the latter is called an “edge against inflation”.

    That Nigeria is going through a recession is no longer news. What most people want to know is: When are we getting out of the woods or how can we survive the turbulence? However, notwithstanding the recession, some people are still lucky to have excess income that they can invest after meeting their daily expenditure requirements. It is to this group of people that this article may interest.

    In August 2006, I wrote a similar article during the glorious days of shares investment. The impetus to write that article was triggered by some reports carried by the Tribune where people were asked if they would rather invest in properties or shares and the majority of the respondents gave preference to investment in shares as opposed to property investment.

    As a matter of fact, some were selling their properties to buy shares! In that article, I tried to educate the public why investment in property was better than investment in shares using all the principles of good investment that I know.  Today, the rest is history.  Many investment in shares have vanished while those who invested in properties can see their investment grow both in terms of income and capital value.

    Just as it happened in 2006, the inspiration to write this article was triggered by the discussion at a recent gathering where the guest speaker, an accomplished and brilliant Economist, said he would rather invest his money in treasury bills as opposed to investment in property.   His reason; return on treasury bill is 18 per cent interest while return on property is about five per cent.  Yes, he was right.  The Federal Government/Central Bank will pay you 18 per cent interest if you invest your money in treasury bills.  This is a very secure investment, in the sense that you can never lose your money unless Nigeria does not exist again.  God forbid that happening.  On the other hand, return on property investment is between four per cent and six per cent depending on the quality of the property and its location.  But what I fear this Economist failed to realise is that the comparison does not end here.

    Let me say first of all that the type of investment that will be suitable for you will depend on your motive for the investment.  Are you thinking of a short, medium or long term investment?  Are you interested in capital return or streaks of income?  Are you interested in an investment that you will leave for your children?  Your answers to these questions will assist you in taking a decision on what type of investment to engage in with investible funds.  For example, if you have some fund which you will need for a project in a few months or one to three years, property investment may not suit your purpose.  But if you are thinking of a long term investment, there is no other option than property investment.

    Now, let us look at the principles of investment that can assist you in making a decision concerning the type of investment you engage in with your funds.

     Security of Capital:  Is the money I am investing secure at all times?  Is there any chance of losing this capital any time in the future?  Both investment in treasury fund     and property will satisfy this criteria.

     Capital Growth: Is there any likelihood that the money to be invested will grow in value over the years?  For treasury bills, the answer is No but for property investment, it is Yes. Take for example, those who invested in property by buying a duplex house in Dolphin Estate in 1990 at a price of N450,000, the value of same house today is about N80 million. If you had put your money in Treasury bill then, the capital will still remain N450, 000 (nominally).  In actual fact, it is less due to inflation. It is probably not with N10, 000 today.

     Capital Liquidation:  How quickly can you turn your investments into cash? You can liquidate your deposit at the end of each term with ease. But with property investment, it may take a while before you get a buyer. But even then, if the price is right, you can always get a buyer. Many properties remain in the market for long because the asking price is above the market value.

    Security and Regularity of Income: Income (interest) on Treasury bill is guaranteed. The Central Bank will pay you your interest no matter what but with property, a tenant may default and there may be voids. Again, if you have the right tenant from the beginning, your income can be guaranteed. You can also avoid voids if the rent is right. Voids occur when a landlord insists on certain amount of rent which is not realistic or above what the market dictates.

     Income Appreciation:  Your income on Treasury bill is almost fixed but rents on properties are not fixed. They increase in line with inflation (all things being equal).  For example in 1990, rents on the Duplex in Dolphin Estate was about N75,000, today it is about N4 million per year! That is more than eight times the capital invested.

    Return on Investment (ROI):  This was the main reason why the speaker preferred investment in treasury bill to property because according to him, he can get a return of 18 per cent on Treasury bill today, why then will he invest his fund in property with a return of only about five per cent.  With due respect, this is a very distorted and misleading view. The example I gave above is sufficient to defeat this argument.  The return-on-property investment is not static but grow from year to year in line with inflation rate.  What will you call the return of N4 million on an investment of N450,000?

    There are other issues, such as taxation, ease and cost of disposal and use as collateral which space will not permit me to deal with in this piece. The effects of these are not very critical to investment decision in this part of the world.

    On the whole, it can be seen from the above that property investment is by far better than investment in treasury bills.  In actual fact, it is not real to say that the return on Treasury bill is 18 per cent because if inflation rate is 18 per cent then your return is actually zero! This is because the real value of your return is washed away by inflation.  Ditto for your capital, if you put N100 million in fixed deposit or Treasury bill for one year, at the end of the year, the real value of your capital invested is less by the rate of inflation.  On the other hand, your property would have appreciated by the same margin under normal circumstances.  This is why property investment is called “an edge against inflation.”

    In conclusion, I can say that in the short run, treasury bills is a suitable investment opportunity but in the medium-long haul, real estate is a much more suitable investment vehicle.

  • ‘Waste management reform’ll strengthen environment’

    The Lagos State Commissioner for the Environment, Dr. Babatunde Adejare, has said the on-going reforms in the solid waste management tagged the “Cleaner Lagos Initiative” it is a way to sustain the environment.

    Adejare spoke at the February edition of the monthly media parley of his Ministry in Alausa, last Monday.

    He pointed out that the implication of the reform was that residential waste collection and the supporting backbone would be concessioned to investors who would deploy modern equipment and machinery equipped with global information system (GIS) facilities.

    Adejare stated further that the Cleaner Lagos Initiative was aimed to protect the environment, human health and social living standards of Lagos residents by promoting a harmonised and holistic approach to environmental challenges and ensuring improved operational efficiency and addressing the lacunae in the existing legislation to expand the scope of Lagos State Waste Management Authority (LAWMA) to enable it enforce, regulate and generate revenue from the waste management process.

    Other goals of the initiative according to Adejare are: identifying and harnessing wealth creation opportunities in the waste management sector and putting in place a proactive Flood Prevention Strategy (FPS) that will ensure all-year- round drainage maintenance.

    The Cleaner Lagos Initiative, he further explained, would also involve the development of new and rehabilitation of old facilities, such as Engineered Landfill Sites (Epe I & II and Badagry), Transfer Loading Stations (Agege, Oshodi and Simpson), Material Recovery Facilities with recycling, recovery and waste reduction efforts.

    The commissioner disclosed that the initiative would create 27,500 new jobs by engaging the unemployed youth and the existing 4,500 street sweepers and transforming them to Community Sanitation Workers (CSW) to carry out manual sweeping in all the inner streets in the 377 wards of the state.

    “The Community Sanitation Workers will be uniformly kitted, insured, paid above the minimum wage and equipped to tackle the challenges of their newly defined scope of work” he said.

    He stressed that the Lagos State Government was determined to give to Lagosians a sustainable and functional environment which they would be proud of since environment remained the bedrock upon which development and prosperity rest.

    Meanwhile, Adejare stated, while presenting the achievements of his Ministry in the Month of February, that efforts to regenerate the environment continued with the enforcement of compliance with sanitation regulations in  markets, eateries, toilets, car wash, event centres, filling stations and shopping malls across the state.

    He also stated that the Ministry supervised the construction of 19 drainage channels to de-flood various areas in the State, while it cleaned 1,960 meters of collector drains across the state.

    In the same vein, 748 tenements and 160 private facilities were monitored for wastewater compliance, while 547 abatement notices were served on tenements and private facilities respectively and poster removal was undertaken in 110 streets.

    On the beautification and greening programme, the State produced 4,472 plant seedlings in its nurseries in Ikorodu and Oko-oba, Agege

  • Firm woos subscribers with security, facilities

    The Managing Director, Buildcon Global Services Limited, Mrs. Bukunola Gadzama, has assured investors in its estate scheme – Pracht Gardens – of unparalleled luxury, comfort and security. The estate, in Ikota area of Lekki, Lagos, is touted to offer a dream environment for “aspirational” lifestyle.

    Planned for delivery in April, Mrs. Gadzama said the estate was designed to meet subscribers’ taste for luxury.

    “The estate has up-to-date security facilities that are measurable with what is obtainable in other parts of the globe. It is designed with affordability in mind and zero compromise on quality and finesse to meet the needs of subscribers,” she said.

    To strengthen the security of residents, Mrs. Gadzama said a video surveillance technology has been installed to transmit signals from one monitor to another within the estate. There is also electrical fence wire that is powered by 24 hours electrical transformer, and patrol officers that engage in routine check to curtail misconducts, protection of subscribers as well as maintaining peace within the estate.

    “In this period of insecurity, we have thought it wise to install up- -to-date technology that can track any movement made within the environment and to ensure that subscribers get the right value for money,” Gadzama stated.

    Other features in the estate include a water treatment plant; fully paved road; suitable shopping centre; ample parking space; power supply and distribution; street lights; recreational centre for children;  crèche;  as well as electrical fence wire.

    Pracht Gardens Estate consists of 40 units of four and five bedrooms fully detached duplexes as well as four bedrooms terraces, and sits on 21,000 metres square parcel of land.

    A subscriber to the estate scheme, Mrs. Juliet Onioma, expressed her delight at the layout and features in the estate. She said the estate is a place that has all it takes to keep a family, as there are facilities that addresses the needs of children, like a park and school that eases the burden of moving out of the environment.

    Another subscriber, Mr. Joe Aforieh, said he is fascinated with the structural design of the estate and the layout. “What interests me most is that l have the opportunity to come up with any additional plan to complement what is already being provided,” Aforieh stated.

  • ‘Real estate can pull Nigeria out of recession’

    Nigeria Institution of Estate Surveyors & Valuers (NIESV), President, Dr. Bolarinde Patunola-Ajayi has called on the Federal Government to use the real estate sector  to exit recession.

    He regretted that the nation has not succeeded in unlocking the hidden wealth in the sector, noting that it is the only robust solution to grow the economy.

    “Real estate business is about management of all land resources which give the support for all activities of man. Every business is done on land, human life and basic needs are dependent on land; hence Nigeria must pay attention to real estate, except we are not prepared to come out of our economic woes. Real Estate investment is the pedestal for economic development and growth, and many developing nations that understand this,like Singapore, Dubai, and others have seen the positive impact on their economies,” he said.

    He wondered why the government thinks the economy can only be diversified through agriculture and film and fashion industry rather than the real estate sector.

    According to him, even government’s focus on agriculture has not been well handled to ensure stable development because government has failed to do sufficient work in surveying every parcel of land in the country.

    While calling on government to make and enforce laws on land administration, Patunola-Ajayi was emphatic that infrastructural development like roads, rails, water-ways, and even airways, goes along with real estate development because they are avenues through which products, services and people move easily to make the economy vibrant.

    Patunola-Ajayi said real estate investment resonates as an edge against inflation with its value increasing with time.  He appealed to government to put more attention into the real estate  sector, especially housing  projects, noting that government housing programmes must have a touch of socialism to touch the lives of people.

    To this end, government, he advocated, should provide land, infrastructure, building plans and approval at subsidised rates to encourage developers, and investors. Besides he advised the federal government to have an effective management of land information, which will generate revenue to its coffers, while states as presently obtains, will continue to generate revenue from the subsequent transaction, with  local government’s generating revenue from rating  assessment and administration.

    Meanwhile, in a related development, NIESV,last Thursday inducted 28 members to the prestigious class of “Fellow.” The induction took place during the 23rd John Wood Ekpenyong Memorial Lecture and Fellow’s Induction held inside the auditorium of the Civic Center, Victoria Island, Lagos.

    The theme of the lecture was: ‘Deployment of corporate governance systems and processes to the professions: The estate surveyor and valuer’s perspective.’

    The guest lecturer, Mr. Gersh Henshaw, who also doubled as the Chairman, Interim National Council on Induction of Fellows, charged surveyors to give consideration to business systems and processes on an on-going basis and not simply when problems start to occur.

    He remarked that if high standards of professionalism is to be sustained in estate surveying and valuation, and to earn public respect, NIESV and the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) must educate her members on the importance of good corporate governance, especially at this time that the country is undergoing what he calls “technical and economic recession.”

    “Those planning to set up their own practice have been advised to think carefully about the quality of the system and processes from day one to avoid the possibility of future problems and un-expected expenditure later on in the business life,” he said.

    Patunola-Ajayi, urged professionals should go back to the drawing board as foreigners had taken over almost all professions in the country. However, he charged his colleagues to do things rightly if they are to remain relevant in the profession.

    The chairman of the Lecture, Mr. Nweke Umezuruike, eulogised the late  John Wood Ekpenyong, who was the first President of NIESV at its inception in 1969, for his qualities and efforts at making the profession noble. “It is right to give honour to whom honour is due. This annual lecture was instituted to celebrate Ekpenyong who was the first Fellow and president of the institution and a representative of the founders of the profession,” he explained. He served in that capacity until 1972.

  • Eko Atlantic: A city with two faces

    Eko Atlantic: A city with two faces

    From the Bar Beach has risen Eko Atlantic, which some 450,000 people are expected to make their home. The city’s ongoing development will boost Lagos State economy, MUYIWA LUCAS reports.  

    To stakeholders in the construction industry,  the Eko Atlantic City (EAC) project remains the most talked about. At its conception in 2003, it seemed to many like a dream. But today, it  has become one of the wonders of the world.

    This is because the land area on which the city is built was, many years ago, part and parcel of Victoria Island, Lagos washed away by the Atlantic Ocean. Following the coastal erosion that posed a serious threat to Victoria Island and its environs, the need to safeguard the city from being submerged by the boisterous Atlantic Ocean became a priority to the state government and other stakeholders.

    Various steps taken to protect the Bar Beach shoreline led to greater ideas that culminated in not only  reversing the erosion, but reclaiming almost 10 square kilometres of land for a new, clean and eco-friendly city that ‘ll ease the pressure on Lagos, the biggest city in Africa’s fastest growing economy, and offer employment and opportunity to its 22 million residents.

    Three years later, in 2006, dredging of the ocean with approximately 140 million tonnes of sand to be dredged. Industry sources say this volume is by far the largest land reclamation site in the world. Today, much progress has been made on the project which initially seemed like a white elephant.

    As a permanent solution to the ocean surge, the developers of the project, South Energy Nigeria Limited (SENL), a subsidiary of the Chagoury Group, designed an eight kilometre (km) long  barrier to keep the sea at bay. This has become known as the Great Wall of Lagos, built on the same place, known as the water’s edge  about 100 years ago. The wall is piled about 15 metres high and capped with concrete accropodes, huge geometrical objects designed to resist waves on coastal structures. The city has its own factory manufacturing some of the materials required, like concrete.

    The Eko Atlantic City is divided into 10 districts, known as Harbour Lights, Business District, Marina, Downtown, Eko Island, Avenues, Four Bridges, Eko Drive, East Side  and Ocean Front. It is the single most ambitious and comprehensive mixed use development to come on stream in the West African sub-region to date.

    It is expected that the new city will be home to about 450,000 residents, with commuter volume of about 300,000 people expected daily. Self-sufficient and sustainable, it includes state-of-the-art infrastructure, its own 24/7 power supply, portable water, advanced telecommunications, spacious roads and 110,000 trees.

    Already, the Lagos skylines are beginning to be dotted by  the ongoing construction, with some residential structures springing up in some districts.

    Eko Pearl Tower

    The Eko Pearl Towers is the first residential building. The development was inaugurated with the Eko Boulevard, Nigeria’s first eight-lane city road in 2015. Eko Pearl Towers is a set of high-rise buildings, privately owned and developed by the Eko Pearl Construction Company. The development consists of five  residential towers, each topped with deluxe penthouse types, two and three bedroom apartments with a view of the Lagos coastline. The Black Pearl and the Champagne Pearl scheduled to be completed later this year.

    According to a statement from the developers and promoters of the multi-billion dollar project, SENL, the Eko Pearl Towers ranges from 24 to 33 floors of four apartments per floor, two apartments on the royal penthouse floors, a technical floor, terrace floor, a ground floor and a basement.

    The Azuri Allure

    Located in the Marina District of the city is the Azuri Peninsula, promoted by Eko Development Nigeria Limited – a real estate development company. The project sits on a combined land area of 127×507 square metres; it is to be built and delivered in three phases.

    The first phase, with a 36-month completion plan, has 13,000 square metres gross buildable area (GBA) and 130 square metres built up area where 120 luxury apartments, 12 super-luxury simplexes, two superb villas and seven town-house apartments will be nestled.

    Chief Responsibility Officer, Eko Development, Ihiene Ogolo, said: “Azuri Peninsula offers a unique and luxury urban lifestyle by the delightful marina-front of the Marina District in the vibrant new Eko Atlantic City.”

    According to Ogolo, Azuri combines the African word ‘Zuri’ meaning, beautiful and Azure – a radiant sea. He said the location of the Peninsula in the Marina District, considered the most exclusive in Eko Atlantic City, explains the developer’s choice of a brand name that resonates uncommon luxury and lifestyle.

    The Peninsula will be delivered as two and four-bedroom luxury apartments, six-bedroom duplexes and seven-bedroom villas.

    “This development is taking into consideration lifestyle and ambience. The lifestyle is created by its location. The location is between the Atlantic Ocean and the Lagos channel; we are also creating a marina and so you have three water bodies that create a lifestyle and ambience,” Ogolo said.

    For the ultimate comfort of the prospective residents of this Peninsula, which has already recorded about 80 percent buyer-interest, there will be a five-star marina and yacht club with an attractive promenade, high-end shops, cafes and a wealth of amenities.

    Though Eko Peninsula is planned as a mixed-use development that will be 92 per cent residential and eight per cent retail, its closeness to the Business District complements its concept of a live, work and play destination.

    In line with the highest standards of contemporary living, all apartments in the Peninsula will be fully-fitted with state-of-the-art kitchens and luxury bathrooms, air conditioning and broadband terraces and balconies. The ‘Orun’ and ‘Oban’ Towers promise to offer the ultimate in luxury living and this includes a private gym and swimming pool as well as a stunning, panoramic views of the environment.

    The  Peninsula also promises residents access to 24-hour concierge service, a gym, two squash courts, and a café. These come in addition to a relaxing sauna, games, screening rooms and a children’s playroom. Outside, residents will have access to a private outdoor swimming pool, children’s playground, garden-piazzas and valet parking.

    In the Marina District, there will be high-end retail outlets, international standard restaurants and an abundant range of amenities, all of which will establish Azuri Peninsula as a premier residential destination.

    Eko Atlantic’s high-standard infrastructure, which includes managed and maintained utilities, will guarantee an exceptionally-comfortable lifestyle. A well-planned road system, up-to-date ferry service and helicopter service linking the city to Lagos, will ensure that Eko Atlantic is the best-connected city in West Africa.

    14 bridges ready

    The multibillion dollar Eko Atlantic City has made significant progress in its infrastructural development with the completion of 14 bridges. The bridges, built to international standard, in phases one and two, extend to over five million square metres, representing half of the planned city.

    Work on the bridge started in December 2014, with the first bridge deck cast and the last one completed last December.  With the new bridges, all the districts are now accessible by road. The bridges form a major element of the works and they enable all major avenues to overpass the canal system running through the spine of the project. The bridges are between two and eight lanes. For instance, Bridge Seven comprises a six-lane carriageway and is located on Avenue 1, thus, defining the western boundary of the Business District, the commercial heartland of the city.

    Spanning 52 metres overall in three sections, Bridge Seven is typical of the design utilised in all the bridges and comprises a reinforced concrete cast  with piers and abutments. Also, post-tensioning techniques were employed on the horizontal deck to achieve the span required. The last bridge was constructed to overpass the canal entrance to the Soutwest Marina, defining the marine access to the Atlantic Ocean.

    SENL’s Managing Director Mr David Frame said the firm was committed to ensuring that the project is completed on schedule.

    “With the successful completion of all the bridges, all the major avenues within Phase 1 and 2 of the City are now fully interconnected, with the comprehensive road network of the City defined and all zones accessible,” he said.

    Water System

    The construction of an ultra-modern, centralised 24/7 water system designed to simultaneously supply phases one and two of the city, is ongoing.  The water system  construction satisfies “stringent international standards for construction of water treatment centers”, supplied by Degrémont, Suez-environment, a company known for its worldwide supply of water treatment equipment.

    The water system will extract raw water from deep groundwater aquifers via a borehole providing an estimated initial daily supply of 10,000m3. The daily supply of water will continue to increase as the city grows. To add further protect the aquifers, the borehole will be lined with stainless steel and cement grouted along its entire length to prevent contamination.  The raw water will undergo filtration to remove the impurities and iron from it.  The Water System will also disinfect the extracted water before storing it in water reservoirs ready for consumption in conformity with WHO guidelines. The water will then be pumped to a 47m high water tower that will supply the water  network of Phases One and Two. This will insure a residual pressure in the network of 1.5 bar.

    In addition to this distribution network, there will be ground water storage for a minimum of two days. This storage capacity will be independent from the required firewater reserve. The systemic treatment technology offers the most ecological and cost effective way to produce public water supply since groundwater is often more convenient and less vulnerable to pollution than surface water.

    SENL Vice Chairman Mr. Ronald Chagoury Jr. noted that the water system is provided according to WHO standards           by ensuring reliable quality of sustainable water system.

    “The city will not only boast of adequate power supply and a good road network, but also a water purification and distribution network that produces potable water for its residential and office use,” Chagoury Jr added.

  • 11-storey Isale-Gangan Towers, Gardens ready

    11-storey Isale-Gangan Towers, Gardens ready

    The Lagos State Government’s urban renewal efforts received a boost  last week with the completion of an 11-storey Isale-Gangan Towers and Gardens – the first phase of the Lagos Island District regeneration.

    The journey to this stage began in August 2009, when the state government signed a contract/agreement with 12 families in Isale-Gangan to release their land for the development of the 11-storey building. The project extends to three streets: Isale Gangan, Isale Agbede and Binuyo.

    The Towers sits approximately on a 2311.55 square metre space, obtained through land pooling by the 12 families. Earlier, the state temporarily relocated the families, paid them compensation for unexhausted improvement on their land and promised to resettle them back into parts of the new development, which consist of 48 units of condominium.

    Under the scheme, three-bedroom apartments are being offered for sale at N50 million, while two-bedroom goes for N38 million. Amenities in the garden include four units of 120 litres overhead tanks; three industrial boreholes; water treatment plants; sewage treatment plants; combined 2000 KVA Generator and water sprinklers.

    Besides all the rooms being en-suite, other features include fitted kitchens, aluminum casement windows, 16 and 23 passengers elevators, car parks, community facilities, facilities management and transferable titles, among others.

    As part of the compensation, the affected families were offered two bed-room condo unit each. The gesture is believed to serve as encouragement for other families whose land government may have to redevelop in future as part of the redevelopment of the state.

    The Special Adviser to Governor Akinwumi Ambode on Urban Development, Mrs. Yetunde Onabule, said Lagos State Urban Renewal Agency (LASURA), the government agency responsible for urban renewal, has paid N28.22 billion to date as rent to all the affected families since inception of the project, the state has also approved N360. 8billion to be paid to all the affected families as compensation for their right of occupancy in respect of their properties, which were revoked for the project.

    To stakeholders in the industry, the completion of the first phase of the 11-floor building represents an addition to the state’s housing stock requirement.

    LASURA General Manger, Lateef Sholebo, reveled in the beauty of the building, describing the luxury apartment as “beautifully finished development with intelligent designs that meet aesthetics to give a luxurious sturdy structure.”

    The lease hold title on the building for buyers is 99 years.

  • Pracht Gardens Estate excites subscribers

    The Managing Director and Chief Executive Officer of Buildcon Global Services Limited Mrs. Bukunola Gadzama, has said the Pracht Gardens Estate  would be ready for allocation next April. It is located in Ikota area, before Victoria Garden City in the Lekki area of Lagos State. Gadzama assurances came while conducting subscribers to the scheme round the estate.

    He noted that the estate, which  is built and fitted with up to date facilities, measured up in standard with what is obtainable in other parts of the world.

    The Pracht Gardens Estate consists of 40 units of four and five bedrooms fully detached duplexes, as well as four bedrooms terraces. It sits on 21,000 metres square parcel of land. According to Gadzama, the estate is structured to meet the basic requirements of subscribers who have taste for luxury; hence the designing and construction was handled by highly skilled architects and engineers, including vastly experienced interior decorators.

    Other features in the estate includes a water treatment plant; fully paved road; shopping centre; 24 hours security; electrical power transformer; closed-circuit television (CCTV) security technology; ample parking space; power supply and distribution; street lights; recreational centre for children;  crèche;  as well as electrical fence wire.

    “It is designed with affordability in mind and zero compromise on quality and finesse to meet the needs of subscribers,” she said.

    Meanwhile, subscribers to the estate have expressed delight over the architectural skills displayed by Buildcon Global Services Limited in the construction of the estate. One of them, Mr. John Kayode, expressed delight at the professionalism brought into the construction.

    “I was quite fascinated with the structural design of the estate and the layout shows a touch of class with all that is required to make life comfortable. What interests me most is that l have the opportunity to come up with any additional plan of mine, to complement what is already being provided,’ Kayode stated.

    Another subscriber, a chartered accountant based in Lagos, Mrs. Jane Ogunwale, said she is happy that her dream of living in a very modern apartment has come true. For her, Pracht Gardens Estate is a place that has all it takes to keep a family, as there are facilities that addresses the needs of children, like the recreation park, adequate security and school that eases the burden of moving out of the environment.