AFRILAND Properties, in partnership with the Lagos State Development and Property Corporation, LSDPC hosted a signing ceremony to mark the revival of the ‘Falomo Towers’, Ikoyi.

This is part of the initiative designed to transform the real estate industry in Lagos, Nigeria’s economic capital. The MD/CEO of AFRILAND Properties, Mrs. Uzo Oshogwe, giving her opening address, said the theme for the event, ‘A Revival of a Landmark,’ represented the plan to restore Ikoyi to its pride position as a leading location in Lagos.

According to her, the development will speak sustainability and innovation, focusing on beautifying and enhancing the Lagos skyline. She restated the commitment of AFRILAND properties to ‘Africapitalism,’ a philosophy developed by the Chairman of Heirs Holdings, Mr. Tony O. Elumelu, CON, by creating economic opportunities through real estate. 

“This project provides an opportunity for AFRILAND properties to create social wealth that can transform Ikoyi, Lagos, Nigeria and Africa.” She used the occasion to congratulate Governor Babajide Sanwoolu for being an astute builder, driving urban development and supporting public-private sector partnerships. 

The AFRILAND Properties MD/CEO recalled how the Governor stood by the company when it commissioned its ‘AFRILAND Towers’  and ‘Heirs Holdings Towers’  all in Lagos. “I thank our Group Chairman, Mr. Tony Elumelu, CON, for his resilience, encouragement and support that has brought us this far.” 

The MD/CEO of LSDPC, Hon. Ayodeji Joseph, in his remarks, said the revival of the ‘Falomo Towers’ would include the development of residential spaces for the emerging middle-class and the swelling rank of the upwardly mobile citizens of Lagos state.

He said the journey to achieving this has not been easy, but the support and guidance of the Lagos state Governor helped to facilitate the project's initiation.

Speaking at the occasion, the Group Chairman of Heirs Holdings, Mr. Tony Elumelu, CON commended the Lagos state Governor and political leaders for three things: 

• The belief and support for the private sector in Lagos 
• The opportunity for dialogue and peace and 
• Positioning Lagos as the best destination for investments in Nigeria and Africa

The Governor of Lagos State, His Excellency Mr. Babajide Sanwo-olu, lauded Mr. Tony Elumelu, CON, for being a detribalized Nigerian with a large heart and vision for transforming Nigeria’s economy as a business leader. He was excited that the project would restore the glory of Ikoyi as a prime location for residential, commercial and social activities.

“This is a clear example of how PPPs work. This is what LSDPC used to manage decades ago, but with evolving developments, we needed a partnership, and AFRILAND properties have proven itself a worthy partner.”

Governor Sanwo-Olu was optimistic that the project would move seamlessly and swiftly and speak to the possibilities of socio-economic transformation in the country. He commended the Group Chairman of Heirs Holdings for providing the financing of the project, which attests to the reality of the concept of “Live, Work and Play” in Lagos. 

“The revival of Falomo Towers through the partnership of AFRILAND Properties and LSDPC will redefine the skyline of Lagos. I am happy this is happening in our time and will enhance the prospects of Lagos as an investment destination of choice.” Highlights of the event were the SOD(Soil surface) turning ceremony that was performed by the Lagos State Governor, Mr. Babajide Sanwo-Olu 

The proposed ‘Falomo Towers’ to be revived through the AFRILAND Properties in partnership with LSDPC is a 21^st-century smart building promoting a cleaner, safer, greener environment.