Eko Atlantic is a new city being built on reclaimed land in Lagos, Nigeria. The project is well underway, with 6.5 million square meters of land reclaimed and the Great Wall of Lagos reaching 6.8 kilometers in length. Infrastructure development is also progressing well, with the road network, storm water drainage, sewer drainage, water supply, electrical power distribution, and fiber-optic cable network all in full swing.
The city is designed to be a mixed-use development, with space for both homes and businesses. Each plot of land in Eko Atlantic can be used for residential or commercial development or a mix of both.
There are already a number of developments completed and underway in Eko Atlantic, including residential apartments and commercial spaces. Some of these developments are either for sale or rent. These include; Anglican Church for All Nations, Alpha 1 Tower, Arkland A&A Towers, Azuri Peninsula, Eko Energy Estate, Eko Pearl Towers, The Audacity, Lagos Sky Tower, The US Consulate, High Gardens By Tetra Manor Ltd…
If you are looking for a place to invest in real estate in Africa, Eko Atlantic is a great option offering a world of benefits.
Victoria Island is the Business and Financial Heart of Lagos. Victoria Island is a beautiful and affluent island in Lagos, Nigeria. It is home to some of the tallest buildings in the city, as well as many of the most important businesses and financial institutions.
It is a popular destination for wealthy Lagosians and foreigners alike. Victoria Island is a thriving business and financial center. It is home to the Nigerian Stock Exchange, the headquarters of many multinational corporations, and the embassies of several countries.
Victoria Island is a truly special place. It is a microcosm of Lagos, with all its diversity and vibrancy. Offering an unforgettable experience, it is a vibrant and exciting place to live, work, and play.
Eko Atlantic City Is A Free Zone
I know you’re probably thinking, “Free zone? What is that?”
Well, free zones are special economic zones that offer a number of attractive incentives for investors, such as:
- Complete tax holiday from all federal, state, and local government taxes, rates, and levies.
- Duty-free importation of capital goods, machinery/components, spare parts, raw materials, and consumable items.
- 100% foreign ownership of investments.
- 100% repatriation of capital, profits, and dividends.
- Waiver of all import and export licenses.
- Waiver on all expatriate quotas.
- One-stop approvals for permits, operating license, and incorporation papers.
- Permission to sell 100% of goods into the domestic market.
- Waiver on all expatriate quotas for companies operating in the zones.
- Minimize delays in the movement of goods and services.
- Rent-free land during the first 6 months of construction (for government-owned zones).
As you can see, these are some pretty amazing incentives. But what are the benefits of investing in Nigeria’s free zones?
Well, for starters, you’ll have access to the Nigerian consumer market, which is the largest in Africa. That’s over 160 million people who could be your potential customers.
You’ll also have an excellent location from which to export to the rest of Africa, the Middle East, Europe, and the Americas. Nigeria is a major transportation hub, and it’s easy to get your goods to market.
In addition, Nigeria has an abundant supply of human and material resources. You’ll be able to find the skilled workers you need to make your business a success.
And finally, Nigeria enjoys several preferential trade arrangements with other countries. This means that your goods can enter these markets with lower tariffs.
Investing in Eko Atlantic opens unprecedented opportunities for tapping into the wider potential of the continent as a whole – widely recognised as the world’s most promising growth horizon.
Built on the tenet of sustainability – The Great Wall Of Lagos
The Great Wall of Lagos is a major accomplishment in the development of Eko Atlantic City. The wall is designed to protect the shoreline of Victoria Island and the early phases of Lekki from coastal erosion.
Before the construction of the wall, the waves from the Atlantic Ocean would regularly flood Victoria Island and the early phases of Lekki, threatening countless lives and businesses. The wall has already achieved its primary goal of protecting Victoria Island from coastal erosion. Once completed, the wall will also protect the early phases of Lekki from coastal erosion.
The wall is 8.5 kilometers long and is made of concrete. It is designed to withstand the force of the waves and to protect the city from flooding. The wall is also equipped with a drainage system to prevent water from accumulating behind the wall.
The construction of the Great Wall of Lagos is a major step forward in the development of Eko Atlantic City. The wall will help to protect the city from coastal erosion and will make it a more sustainable and resilient city.
I think it’s important to understand the history of Eko Atlantic City in order to appreciate the significance of the Great Wall of Lagos. The city was built on reclaimed land, and the wall is essential to protecting it from the elements. The wall is a testament to the resilience of the people of Lagos and their commitment to building a better future for their city.
The Eko Atlantic project is a privately funded development by South Energyx Nigeria Limited, a subsidiary of the Nigeria-based Chagoury Group of companies. The project is being developed in strategic partnership with the Lagos State Government and supported by the Federal Government of Nigeria.
Eko Atlantic City is designed as a mixed-use development, it can be used for residential or commercial development or a mix of both. The cost of a plot of land in Eko Atlantic depends on its size and location. Plot sizes in Phases 1 and 2 start from approximately 2,200 square meters and prices per square meter start from $1,150. In Phase 3, land prices start from $1,050 per square meter. There is no maximum capping on the amount of land that can be purchased.
Eko Atlantic City offers a number of benefits that make it an ideal place to build:
First, Eko Atlantic has an independent 24/7 power supply. This means that you won’t have to worry about power outages or brownouts.
Second, the city has a state-of-the-art water and waste water treatment system. This ensures that your development will have access to clean water and that your waste will be properly disposed of.
Third, Eko Atlantic has fiber optic communication connections to every plot of land. This means that your development will have access to the fastest and most reliable internet speeds.
Fourth, the plots of land in Eko Atlantic are delivered with connection to utility services. This means that you won’t have to spend time and money connecting your development to the city’s infrastructure.
Fifth, the street levels in Eko Atlantic are elevated to accommodate basement parking above ground water. This means that your development will be protected from flooding.
Sixth, the deed of assignment and construction approval process in Eko Atlantic is seamless. This means that you can get your development approved and started quickly.
Finally, Eko Atlantic is being built as a city specifically planned for medium to high density development. This means that your development will be surrounded by other businesses and amenities, making it a desirable place to live and work.
In addition to these benefits, Eko Atlantic also has a number of value-added amenities, including a 10.2km long waterfront promenade and two large marinas connected by an internal waterway. These amenities will make your development even more attractive to potential residents and businesses.
If you’re looking for a prime investment opportunity, land in Eko Atlantic is the perfect choice. Contact RealEstateMoses today to learn more about this exclusive development.
Moses Oyong is a luxury real estate advisor with a passion for arts and culture, music, fashion, and all things luxurious. With a keen eye for beauty and attention to detail. I strive to help my clients find their dream homes that reflect their unique sense of style and taste whilst providing them with the right information to ease the stress of the decision-making process.
