- Mar 26, 2018
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Eko Atlantic City: What you should Know
Eko Atlantic City has gathered so much international attention, due to the fact that it is surrounded by the sea and exposed to cool natural breeze with a beautiful view of nature, visible from all angles of the city.
Businesses have gone ahead to acquire properties even while the project was as its early stages. This is due to the fact that it is considered the next business capital in Lagos State, Nigeria, West Africa and Africa.
International investors cannot get their eyes of the state of the art designs in display at the city. Real estate investors are struggling to acquire properties there as the demand is rising nationally and internationally by the day.
The drainage and other building engineering plans integrated into the Building is set up to avoid possible disasters and flood that may arise in future. A bank without an office in the Eko Atlantic city will be considered obsolete.
School owners are also targeting spaces there to build international standard schools. Lagos state is expecting to generate a lot of revenue for their due to the commercial activities that will go on there.
Hospitality and Tourism lovers believe it will be a choice location for recreation and relaxation.
Amidst these assurances from engineers and analysts, Warnings have continue to come up about the possible dangers of planting the mega city in the sea.
A Sahara Reporter talking about the Eko Atlantic City reveals that The Orwellian nightmare gets closer to reality every day.
According to David Damiano, Climate scientists (you know — the people we should be listening to) contend this claim and instead suggest the wall will actually worsen the situation for surrounding areas. Storm surges that approach the new island might affect a neighboring island instead, according to climate change researcher Dr. Alan Blumberg. Couple this with the fact that the surrounding islands are actually lower in sea level than Eko Atlantic, and the planned city seems even more preposterous.
Therefore, critics have come to a second hypothesis — one that should have seemed obvious beforehand. Eko Atlantic is not a savior for the people of Lagos, but instead a future haven for the ultra-wealthy, where they can live unaffected by climate change.
Nigeria is a nation afflicted with immense inequality, and Lagos is no different. Sixty percent of Nigeria’s population lives on less than a dollar a day, and because of this, Nigeria’s leadership has decided to exacerbate the issue rather than attempt to take on an impossibly difficult crisis. This is often the case in developing countries because, in order to attract foreign investments, they must marginalize and conceal this vast population in poverty.
In Lagos, the government decided to clear out slums rather than improve them, claiming that they are riddled with crime and ought to be removed. In 1990, 300,000 homes were razed in Lagos to make way for high-end real-estate development. The government again went on a razing spree in July of 2012, destroying large sectors of the aquatic slum Makoko, giving residents just a 72-hour notice to evacuate. Makoko resident Paul Adiroba said at the time: “We can’t keep living like this. We are human beings, we are not animals.”
In the name of development, Lagos’ government is proceeding with these evictions. Eko Atlantic is merely the ultimate embodiment of the wealthy’s desires — a land entirely separated from both the poor of Lagos and the effects of rising sea levels. From their shining city, the rich may forget about those in need as not even the elements can hurt them anymore. This is the mindset that the neoliberal elite have taken with climate change and inequality: It would be too costly to fix these issues, so instead, we should seal ourselves off and forget they ever happened.
The Project Pioneers reveals, Eko Atlantic is an entire new coastal city being built on Victoria Island adjacent to Lagos, Nigeria. It is a focal point for investors capitalising on rich development growth based on massive demand – and a gateway to emerging markets of the continent.
The project is privately funded by South Energyx Nigeria Limited – the developers and city planners, a subsidiary of the Nigeria-based Chagoury Group of companies – working in strategic partnership with the Lagos State Government and supported by the Federal Government of Nigeria.
Notable national and international banks have been quick to capitalise on the opportunities with some of Nigeria’s biggest – FCMB, First Bank, Access Bank and Guaranty Trust Bank – partnering with Eko Atlantic, with support from BNP Paribas Fortis and KBC.
For savvy investors, Eko Atlantic City represents far more than just surging Lagos land value. As Nigeria continues its unstoppable trajectory to become the financial capital of Africa, investing in Eko Atlantic opens unprecedented opportunities for tapping into the wider potential of the continent as a whole – widely recognised as the world’s most promising growth horizon.
Eko Atlantic is a marvel of modern engineering and technology, and a testament to the rise of Nigeria on the world stage.
This new city has evolved rapidly from a visionary design concept into a technological reality. Infrastructural road works and underground surface drainage pipes are already laid along major routes across the new city. All bridges in Phase 1 & 2 of the project have been completed. And the Great Wall of Lagos sea revetment, which is being built more than two kilometres offshore at eight-and-a-half metres above sea level, has surpassed 6 kilometres in length and is now protecting over 6 million square metres of Eko Atlantic and Victoria Island.
Across Eko Atlantic, independent reliable electricity, advanced fibre optic telecoms, and clean water utility services are already installed below street level. With the foundations in place, this magnificent engineering and technological city is now rising.