The new city, built to solve the chronic shortage of real estate in the world’s fastest-growing megacity while adhering to strict models of green infrastructure and materials, is now open for investment opportunities in both land and residential and commercial real estate projects. Standing on 10 million square metres of land reclaimed from the ocean and protected by an 8.5-kilometre long sea wall, the city is self-sufficient and sustainable.
More information can be seen at https://www.ekoatlantic.com
Eko Atlantic represents both a new opportunity for investors to capitalise on development growth and a gateway to emerging markets on the continent. It features cutting-edge urban planning, on-site electricity generation, safe drinking water, advanced telecommunications, wide roadways, and tree-lined streets. Notably, all developers within the city must adhere to the International Finance Corporation’s Green EDGE standard, which focuses on making developments more resource-efficient.
Nigeria is forecast by the UN to be the third-largest country in the world before 2050 owing to its fast-growing population. Its economy is generating a new wave of property buyers, ranging from bankers to fast food store owners. It has the largest economy on the continent and a track record of regional participation.
This new and eco-conscious city aims to unlock the growth potential for property development and future investment. The Great Wall of Lagos sea revetment, which is being built more than two kilometres offshore at eight-and-a-half metres above sea level, was engineered to withstand the most severe tidal surges forecast over the next 1,000 years. The design of the sustainable sea wall was tested to its’ limits in Copenhagen at the Danish Hydraulic Institute.
Eko Atlantic City’s roads have been created at a higher elevation to allow for a natural flow of stormwater drainage to its internal canal system via gravity. The use of gravitational force to transfer storm and wastewater removes the need for pumps. Roundabouts – rather than four-way intersections – have also been implemented by the city, ensuring a safer and more efficient traffic flow. Additionally, the city employs energy-efficient LED lighting in all streetlights for significant cost savings. working in strategic partnership with the Lagos State Government and supported by the Federal Government of Nigeria. Notable national and international banks have also partnered with the project.
The project is privately funded by South Energyx Development FZE with a strategic partnership with the Lagos State Government and supported by the Federal Government of Nigeria. Notable national and international banks have also partnered with the project.
“This is the most impressive – and largest – feat of modern engineering I have ever witnessed,” said Ronald Chagoury Jr. “We were able to take a problem – housing shortages – and turn it into a truly next-generation, eco-friendly solution meeting the needs of residents, investors, and city planners. It’s a tremendous achievement.”
Interested parties can go to https://www.ekoatlantic.com for more information.
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