Lagos State Governor, H.E. Babajide Sanwo-Olu and business leader and philanthropist, Tony O. Elumelu, CON, with other real estate stakeholders have launched the new Falomo Towers development in Ikoyi, Lagos over the weekend.
The project is being developed by joint venture partners, Afriland Properties Plc, investee company of the Heirs Holdings Group, and the Lagos State Development and Property Corporation (LSDPC).
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Sanwo-Olu, who was the Special Guest of Honour, commended the JV partners for their commitment to the Nigerian real estate sector and their vision in redeveloping the iconic Lagos landmark.
He applauded both companies for what he believed would be an exemplary delivery of a public-private partnership.
According to Governor Sanwo-Olu, the new Falomo Towers will become a highly sought-after destination for work, life, and play.
He stated:
The JV is delivering an environment that offers contemporary work and living spaces, that will further catalyse Lagos’ economic renaissance. I am delighted that Afriland Properties, one of the country’s leading institutional real estate investors, is able to partner with Lagos State, to deliver excellence.
Meanwhile, the Chairman, Heirs Holdings, Tony Elumelu, in his keynote address, stated that the project was a demonstration of the Governor’s commitment to private sector growth in Lagos state and the country.
He emphasized the importance of the private sector in transforming Nigeria’s economy and the need for meaningful partnerships, which would unleash the potential of the country.
Elumelu added:
We believe that the growth of our economy, will be delivered by the private sector, but for the private sector to do well, our public sector leaders must create the right environment. The partnership we are celebrating today is a model, not just for Nigeria, but for Africa. I salute all those who have contributed to this exciting venture, not least His Excellency, whose vision we are delivering.
On his part, Managing Director/CEO, Afriland Properties, Uzo Oshogwe, stated:
This mixed-use development will drive sustainability, creativity, and innovation. It reinforces our promise to beautify and enhance the Lagos skyline. We are implementing our firm commitment to Africapitalism, that through our long-term investment in real estate, we will create employment, economic prosperity, and social wealth, that will transform Ikoyi, Lagos, Nigeria, and the African continent.
Falomo Towers is a contemporary mixed used development, with the major aim of sustainability and sustainable building practices, designed to deliver a greener environment.
The project is expected to deploy cutting-edge technology-enabled design, to create an architectural masterpiece.
