If you’ve never heard of the Eko Atlantic City, then you probably are not doing enough to keep abreast of developments in Nigeria. But all hope isn’t lost; this page will school you on all you need to know about this awesome international commercial hub in the city of Lagos, Nigeria. Read and scroll on to learn more.
Spanning an area of 25 square kilometers (10 square miles), the Eko Atlantic City (EAC), also known as Eko Atlantic, is Nigeria’s official international commerce city, which is currently in the advanced stage of its development. It shares its northern boundary with Victoria Island and Lekki Phase 1, while its southern, western, and eastern boundaries greet the Atlantic Ocean.
The city is being constructed on an expanse of land reclaimed form the Atlantic Ocean. When it’s completed, this new peninsula will accommodate not less than 450,000 residents, and its development is expected to impact positively on the environment by helping to stop the constant erosion of Lagos State’s coastline.
A project, which was first conceptualized during the first regime of Bola Ahmed Tinubu, the Eko Atlantic City was borne out of public-private partnership between Lagos State Government and some private firms. The city will comprise high-tech, state-of-the-art infrastructure and will provide financial, commercial, and residential benefits. Most interestingly, it will serve as an enthralling tourist attraction.
The Eko Atlantic City is being developed by South Energyx Nigeria Limited. Even though the project’s development has been heavily criticized for its negative impact neighbouring environments, work is going on actively.
Eko Atlantic City: Pictures
Here are some of the pictures of the Eko Atlantic City. Even though the project is not yet completed, these pictures will give you a taste of what to expect from Nigeria’s “Dubai”.
Pictures of current state of the Eko Atlantic City
Design Concept: What the EAC will look like after its completion
Why the Eko Atlantic City Project Was Developed
The Eko Atlantic City was developed in order to fill the need to protect the coastline of Victoria Island from being constantly eroded by the Atlantic Ocean. With the development of this city, a significant portion of eroded land will be reclaimed from the ocean.
In addition, the city will provide space for Lagosians and expats to live and work adjacent to Victoria Island. And most interestingly, its development is a huge leap towards Nigeria’s goal to become one of the top 20 global economic powers and Lagos’s goal to become a mega-city of global repute. It is also expected that the city will solve the long-standing problem of chronic shortage of prime real estate in Lagos. Upon its completion, the Eko Atlantic City promises to become the new financial headquarters of Nigeria.
Moreover, the development of the Eko Atlantic will significantly relieve the pressure on Lagos, which is getting saturated with residential, commercial, and tourist, and other activities.
What to Expect when Eko Atlantic is Completed
Here are some awesome things you should expect to experience or enjoy when by visiting or living in the Eko Atlantic City after its completion:
- Uninterruptible power supply. There will be an efficient power generation plant with central service stations. So, no need for generators, inverters, and other alternative sources of power generation. Ultimately, this means no noise pollution and no air pollution by diesel or petrol combustion in generators.
- Clean water pumped from the city’s own treatment plants. Getting potable, well-treated water won’t be a problem.
- High-tech, state-of-the-art communications facilities that will support personal and business networking on local and global levels.
- And lots more…
Eko Atlantic City: Progress Updates
While the project is yet to be completed, a good number of impressive developments have taken place. These include the independent power project, water treatment plant, underground cable network, world-class road networks, underground sewage, sturdy walkways and beautiful landscapes.
In November 2016, the Eko Pearl Towers, which is the first residential development in the Eko Atlantic, was unveiled after the successful completion of its first tower, the Black Pearl (Tower A). Situated about 500 meters from the financial centre of Lagos, the Eko Pearl Towers is a set of 5 skyscrapers being developed by the Eko Pearl Construction Company and is privately owned by the same firm.
In all, the Eko Pearl Towers comprises five residential towers, each topped with luxury two- and three bedroom apartments and deluxe penthouse types. In height, the towers range from 24 to 33 floors, with each floor bearing four apartments. But there are two apartments of the royal penthouse floors. There are also technical, ground, and basement floors.
In September 2017, the Alpha 1 Office Tower was acquired by the chairman of Seplat Petroleum Development Company Plc, Dr. ABC Orjiako. With this development, Dr. Orjiako, who is an orthopedic surgeon with interests in the oil and gas sector, became the first official occupant of the luxury peninsula. The Alpha 1 Tower, a set of office buildings also known as the Afren Tower, was completed in 2016.
In November 2017, the Tower B of the Eko Pearl Towers was unveiled, meaning there are three towers left to complete the Eko Pearl Towers.
As of November 2017, the three towers of the Eko Energy Estate are nearing completion. In addition, the Eko Boulevard (a 1500-meter long 8-arterial road spanning the peninsula) has been completed alongside some bridges that intersect it at intervals.
Eko Pearl Towers: Prices
The Eko Atlantic is a luxury project, so it’s expectable that rental and sale of property in this peninsula would attract very huge costs. Presently, the Eko Pearl Towers has two of its 5 towers successfully completed, and the apartments are now open for purchase. Here are the costs:
- 3-bedroom apartment: $1,100,000 (about N400,000,000)
- 2 bedroom apartment: $710,000 (about N270,000,000)