TheFocusNews
    Facebook Twitter Instagram
    Trending
    • JANDOR UNLEASHES TERROR ON INNOCENT LAGOSIANS.
    • Civil Society Organization Calls for Urgent Police Investigation of Viral Video of Criminality By Political Thugs
    • FUEL AND NEW NAIRA NOTES SCARCITY: FIFTH COLUMNISTS WORKING IN CAHOOTS WITH PDP
    • Osun State Elections Tribunal Nullifies Governor Ademola Adeleke Gubernatorial Victory Due To Over Voting
    • HOW AFRICA CAN FEED ITSELF, PRODUCE SURPLUS FOR EXPORT, BY PRESIDENT BUHARI
    • BUHARI RIDES IN LAGOS TRAIN, AS PRESIDENT INAUGURATES BLUE RAIL LINE, JRANDLE CENTRE
    • The Naja’atu Bala Muhammed We All Know As Director of Civil Society Directorate of APC PCC
    • LEKKI DEEP SEA PORT ROARS TO LIFE AS PRESIDENT BUHARI OBSERVES HISTORIC OFFLOADING FROM CONTAINER SHIP
    Facebook Instagram
    TheFocusNews
    • Home
    • Sports

      PRESIDENT BUHARI MOURNS SOCCER LEGEND, PELE, SAYS HE WILL NEVER BE FORGOTTEN

      December 29, 2022

      PRESIDENT BUHARI COMMENDS MOROCCAN SOCCER TEAM FOR MAKING AFRICA PROUD

      December 15, 2022

      As Argentina Takes on Saudi Arabia Today in 2022 Qatar World Cup, Lionel Messi says, Diego Will Always Be With Us

      November 22, 2022

      Henry Nwosu: Lagos SWAN applauds Gov. Sanwo-Olu

      November 18, 2022

      PRESIDENT BUHARI REWARDS COMMONWEALTH GAMES, WORLD ATHLETICS CHAMPIONSHIPS ATHLETES WITH NATIONAL HONOURS, N200 MILLION

      September 16, 2022
    • Politics
      1. Education
      2. View All

      Bamidele Omosehin Empowers Widows, Equips 22 Schools In Ondo

      January 7, 2023

      PRESIDENT BUHARI: AFRICA’S EDUCATIONAL SYSTEM MUST GRAVITATE TOWARDS STEM TO ACHIEVE INDUSTRIALISATION BY 2030

      November 28, 2022

      SANWO-OLU, DONS PRAISE PROF. OGUNDIPE, AS OUTGOING UNILAG VC LAUNCHES MEMOIR

      November 11, 2022

      SANWO-OLU MEETS 36 FINALISTS, AS JAKANDE LEADERSHIP ACADEMY TAKES OFF 

      November 10, 2022

      I HAVE SERVED NIGERIANS CREDITABLY, SAYS PRESIDENT BUHARI IN BAUCHI AS HE CAMPAIGNS FOR APC

      January 24, 2023

      LAGOS YAM TRADERS DRUM SUPPORT FOR TINUBU, SANWO-OLU

      January 24, 2023

      Tinubu meets with APC election planning, monitoring teams, charges them to protect party’s votes

      January 16, 2023

      Civil Society Organization Passes Vote of Confidence on INEC on PVC Collection

      January 16, 2023
    • Entertainment
    • Business
    • Education
    • Health
    • International News
    TheFocusNews
    You are at:Home»Housing»HOUSING: SANWO-OLU FLAGS OFF DEVELOPMENT OF FALOMO TOWERS IN IKOYI

    HOUSING: SANWO-OLU FLAGS OFF DEVELOPMENT OF FALOMO TOWERS IN IKOYI

    0
    By TheFocusNews on June 17, 2022 Housing
    image.png

    HOUSING: SANWO-OLU FLAGS OFF DEVELOPMENT OF FALOMO TOWERS IN IKOYI

    …LSDPC partners private developer to re-model fallow land for mass housing scheme

    …‘Lagos remains most hospitable environment for investors’ – Elumelu

    A major urban renewal project that will restore the aesthetic landscape of Falomo, the commercial suburb of Ikoyi in Lagos State, has been flagged off by Governor Babajide Sanwo-Olu, on Friday.

    Lagos State Development and Property Corporation (LSDPC) sealed a joint redevelopment partnership with Afriland Properties Plc, a private developer, to turn former Falomo Shopping Complex to a premium sky-high real estate that will enhance the socio-economic outlook of the neighbourhood.

    Falomo Towers, being developed on 11,950 square metres of land, will offer a blend of green amenities that will promote quality living.

    Afriland Properties Plc is a subsidiary of Heir Holdings, owned by the foremost entrepreneur and banker, Mr. Tony Elumelu.

    Sanwo-Olu, at the sod turning ceremony held at the project site, said the construction flag-off ended a decade-long discussion with the developer to revive the project and build iconic towers that would turn around the fallow land for the benefit of the public.

    The Governor said the project was another milestone achieved by his administration to renew urban amenities, stressing that the strategic implementation of the Lagos Masterplan had been dependent on the Government’s ability to forge workable partnership between the public and private sectors.

    He said: “This is a phenomenal project that will bring back the lost ambience of Ikoyi. When this partnership was initiated 10 years ago, I was the Managing Director of LSDPC. It is interesting to note that we’ve all gone through arbitration but we didn’t throw a wrong punch. We agreed this project must not be thrown away. Today we are making a transaction that is bigger and better than what was initially proposed 10 years ago.

    “This testifies to the uniqueness of public and private sectors in ensuring things can be made a lot better when we sit and agree. This is a clear example of what Public Private Partnership (PPP) model is out to achieve when partnerships and collaborations are pursued and implemented with seriousness. When we put our minds of possibilities to ideas, great things happen. This aptly describes the story of today’s flag-off of construction of Falomo Towers.”

    Sanwo-Olu described Afriland Properties as a tested, trusted and reliable developer, saying the Corporation had found the right partner for the redevelopment project.

    The Governor reiterated that the State Government would remain committed to ensuring the investors get full value for their investments, while promising to continue to pursue business environment reforms, including automation of land and property records to scale up transparency and efficiency that catalyse sustainable investments.

    Elemelu said the partnership was another testimony to the Lagos State Government’s belief in the private sector as a key development driver in the State, praising the Lagos political leadership for setting the pace of private sector inclusion in governance.

    For surmounting obstacles that delayed the take-off of the partnership, Elumelu said Lagos remained the most hospitable environment to investors seeking profitable return on their investments.

    He said: “I commend Gov. Sanwo-Olu and the political leaders of the State for believing in the private sector. What we are witnessing today attests to their beliefs in the private sector as driver of development in the State

    “For private sector to do well, the political leadership must create the right environment. Lagos has set the pace in this direction. This partnership is a celebration of dialogue and this makes Lagos remain the most hospitable environment for investors.”

    LSDPC Chief Executive Officer, Hon. Ayodeji Joseph, said the project site evoked memories of a glorious past for Island dwellers in the 1970s, noting that the Corporation took an informed decision to turn around the site by building residential apartments to provide additional accommodation to the growing middle class, business professionals and the swelling rank of young citizens.

    He said: “Over forty years down the line, the Corporation in its decision to renew some of its facilities has deemed it fit to redevelop the site of the shopping complex, taking into consideration the realities of today’s needs as well as the environmental impact implications.

    “To achieve this purpose, we decided to mobilise finance from the private sector. This decision will free resources that could otherwise be tied down to this project, for other pressing needs. In addition, it will allow the project to benefit from the competitive efficiencies for which the private sector is better known.”

    Chief Executive Officer of Afriland Properties, Mrs. Uzo Oshogwe, noted that the redevelopment project was a revival of a landmark, saying: “With the project, we tend to give Ikoyi back its aesthetic landmark

    She said the iconic project would enhance and beautify Ikoyi skyline, adding that the partnership would be creating economic opportunities and social wealth that would transform the State and the country.

    The project development is expected to be completed in 30 months.

    SIGNED

    GBOYEGA AKOSILE

    CHIEF PRESS SECRETARY

    17 JUNE 2022

    Share on TwitterTweet
    Previous ArticleWE’RE SCALING DOWN ON EMISSIONS, WITH 2030 TARGETS FOR ELIMINATION OF KEROSENE LIGHTING, INCREASED BUS TRANSITS, SAYS PRESIDENT BUHARI AT ENERGY FORUM
    Next Article SANWO-OLU CONDOLES THISDAY BOSS, NDUKA OBAIGBENA OVER MOTHER’S DEATH
    TheFocusNews
    • Website

    Related Posts

    SANWO-OLU DISBANDS LANDED PROPERTIES SPECIAL OPERATIONS TEAM

    SANWO-OLU INAUGURATES MINI HOUSING SCHEME, VOCATIONAL CENTRE IN SURULERE

    LSDPC RAISES HOUSING STOCK IN LAGOS BY 27,000 HOME UNITS IN 50 YEARS

    Leave A Reply Cancel Reply

    • Popular
    • Recent
    • Top Reviews
    December 16, 2020

    Serenity at the Beaches of West Coast

    May 19, 2022

    John Cena talks potential return to WWE for his 20th anniversary 

    December 16, 2020

    Four planes to start airlifting Nigerians out of Ukraine

    January 28, 2023

    JANDOR UNLEASHES TERROR ON INNOCENT LAGOSIANS.

    January 28, 2023

    Civil Society Organization Calls for Urgent Police Investigation of Viral Video of Criminality By Political Thugs

    January 27, 2023

    FUEL AND NEW NAIRA NOTES SCARCITY: FIFTH COLUMNISTS WORKING IN CAHOOTS WITH PDP

    9.3
    December 19, 2020

    I see my children as prized possession

    8.9
    December 19, 2020

    Nigeria Needs Peace, Unity –Ex-Head Of State, Gowon

    7.5
    December 18, 2020

    If education is right, Nigeria’ll be alright – Oloyede

    Latest Galleries
    Latest Reviews
    9.3
    December 19, 2020

    I see my children as prized possession

    8.9
    December 19, 2020

    Nigeria Needs Peace, Unity –Ex-Head Of State, Gowon

    7.1
    December 19, 2020

    JAMB, Laments Poor Turnout For UTME Registration, Says No Extension

    Copyright © 2023 TheFocusNews. Powered by TheFocusNes.

    Type above and press Enter to search. Press Esc to cancel.

    WhatsApp us