Lagos State Development and Property Corporation and Afriland Properties, a joint venture partner have flagged off Falomo Towers. The project which would serve as the revival of Falomo will sit on the old Falomo Shopping Complex site.
The sod-turning ceremony was done by Mr. Governor, Babajide Olusola Sanwo-Olu. He highlighted that this project was conceived about 10 years ago and that today the project is far bigger than what was envisioned to meet new realities.
Chief Tony Elumelu, Chairman Heirs Holding of which Afriland Properties is a subsidiary, highlighted the importance of peace and dialogue as it was vital to the success of the project through the long years of negotiation. He also called on investors around the world seeking good investment returns to come to Lagos as the government has created an enabling environment where Public-Private Partnership can flourish.
Hon Ayodeji Joseph, MD/CEO LSDPC mentioned that the old Falomo Shopping complex is a site that evokes memories and as part of the Corporation’s effort to renew its facilities, an informed decision was taken to redevelop it taking into consideration the realities of today’s needs as well as the environmental impact implications.
Mrs. Uzo Oshogwe, CEO, Afriland Properties said the iconic project when completed would enhance and beautify Ikoyi skyline, create employment opportunities and drive economic prosperity in Ikoyi, Lagos and Nigeria as a whole.
The project is expected to be completed in 30 months