What Advances Have Been Made By Eko Development Company Since 2018?
What advances have been made by Eko Development Company since 2018?
Azuri Towers will consist of three towers: two residential and one for offices. To our delight, Azuri One is now the tallest residential tower in Nigeria. By extension, it is the tallest in West Africa and the second tallest on the continent. The location on the marina is a strategic advantage. The towers themselves are avant-garde. They are the top end of luxury at an international standard. Our new customers in the last months have expressed their pleasure at the unparalleled integrity and beauty of the towers. The structure is sound, and the civil engineering quality is outstanding. One unique aspect of the towers is that they sit on a floor of 13,500sqm of sheer concrete foundation. Everything coming out of the city flows from our location. The proximity to the marina also means one can practically park their yacht on their front doors. All of these factors mean the crème de la crème of society seek to position themselves here. There is only one other residential tower in Lagos that can match the size of our apartments as well. We offer 500-sqm apartments overlooking the wonderful marina here. The penthouse is 2,500sqm on three floors with a private swimming pool. We have taken luxury to the edge. Today, 30% of the project has been sold. We have a show apartment that will open in May. By then, we intend to sell 60%. We will open the project on December 12, 2021. We are fixed on this opening date, and nothing will change that.
How are you applying upcoming trends in real estate to the Azuri Towers development, particularly in the area of technology introduction?
We are always looking at ourselves in the future. Our development is a reflection of what we expect the future to look like. Then we put that into play. Everything in our apartments is smart. Every part of the building communicates with any platform, be it from a car, phone, or even eyes. Motion control is something we are working. It is all about the future with us. Everything someone would want to do must be available here. Azuri Towers will hold some of the best retailers, sporting activities, and even work-from-home spaces available. There are designated spaces that are intended for smart working. This is a place where one can live, work, and play. The marina access means one can even sail away directly. At all times, the challenge is to imagine the future to create in the present or position the present to be able to integrate that future. In light of COVID-19, we have the capacity for virtual meetings and large video conferences. We use all the technology available to think forward. In terms of energy sources, we are fully integrated into the plan for Eko Atlantic City. We will mostly use existing energy sources. We will not create or use our own. We have set up the lighting and other aspects with sensors, and the efficient and intelligent use of energy for the entire development is what we are promoting. That is our way of reducing the amount of energy that is typically wasted by nearly 70%. It is a sustainable project in that sense.
To what extent do your development projects depend on Eko Atlantic?
The dependency today for the construction of Azuri Towers is close to nil, other than waiting for the power solution to come on board by the end of 2021. Everything else that we might have needed as a developer in Eko Atlantic City is already in place. Eko Atlantic City has made my life easier as a developer from the beginning of the process with registering titles. It complements and enables work for developers, which I happily recommend to others. The quality and integrity of the infrastructure to date has exemplified the principle of care and it is precise so that we are doing things only once. The Roads, Water, Seawage and Waste Treatment are in place or be completed by the time we open,
How important will mixed-use spaces be to the future landscape of real estate in Nigeria?
This is the future of Nigeria and Africa. There has been a tradition of disorganized infrastructure, which is frustrating. The federal government of Nigeria decided in the 1970s to turn Lagos into a more urban planned space. That became Abuja, which is a well-planned city. There is a transition happening in South Africa as well. Urban planning is now becoming a trend. Now, the private sector is realizing that people want to live in new cities and accommodations. They want to live remotely, away from the chaos of the old city. This is the only way we can create a new world for our children and grandchildren. We believe and belong in Africa. This is where we want to retire and where we want to be buried. It is where we must give something back. Therefore, we must join forces with those courageous enough to create these new cities. What makes Eko Atlantic special is the fact that it is the biggest newly man-made city of its time, with all the infrastructure that you would expect. It is the biggest of its kind by a private developer anywhere on the planet. Elsewhere in the world, such as Dubai, the government is behind the large complexes and developments. There are more roads in Eko Atlantic today than in old Victoria Island, and it is twice the size of Victoria Island. Eko Atlantic will move to a level of development where those on Victoria Island would leave and relocate here to regenerate the entire island. I see that happening in the next 10-15 years. There is a vision for Lagos that Eko Atlantic and the Lekki free zone enable.
What are your goals for this year?
We are focused on what we want to achieve. It is important to keep it simple and honest. For us, the delivery of Azuri Towers in December 2021 is the top priority. We have the resources to complete the project on time. We will work extremely hard with our builders ITB. Then, our next priority will be to welcome the families who will occupy these special apartments. While the core development is important, it is equally important to see families take over these spaces, living, working, and playing here. Then, we can start the planning for our next development. These are our aspirations for the next 20 months.
Crème de la crème of society seeks to position themselves here
Always looking toward the future