thebosstrevor1:


The project was an incidental one, the idea was all about protecting the ocean from overflowing, then the developer decided to develop properties infront of the ocean

fact is everywhere you go to around the world, lands overlooking the oceans or in front of a beach are always prime properties.

We all know that beach land is prime and it's too early to call the project a failure but 13 years is too long compared to similar projects across the world.

Pls who knows an effective drugs for treating ULCER,,,been taking omeprazole and gecrol suspension for two weeks now,, there has been no noticeable improvement as I could still feel the burning sensation/pain at the side of my chest... help

NIGERIA RECESSION/SAPA IS THE REASON.

Thedon22:

Thanks for educating them. Obis supporters are largely illiterates cum traders like their boss. Lagos is the centre of excellence.

There is no education here. How are you sure they wont even close their embassies in Nigeria due to terrorism.

Nobody is investing a dime in that place. Any realest investment that you dont get your capital in 20 years is a failed investment.

The problem with the project is that its ahead of the countries economy, countries with such visions have the right atmosphere to make it reallable, Nigeria is a developing nation that alone has ruled out success off the project from the go,besides that poor marketing,besides the idea of a modern city what else are they marketing? What are the physical, psychological and senual benefits of living there?any research carried out about the aquatic wonders living within the proposed city?do they have a scuba aquarium under water close to the city which show cases rare species that are only available in these waters?sometimes its not just about an idea,it's about the ideas which drives the idea.also you are right about the project, yet I don't think this has anything to do with tinubus Idea or concept of leadership towards Nigeria, tho I'm no fan of his.

tctrills:

No investor would put down money he doesn't hope to see returns in his life time. If the investors behind Eko Atlantic were looking at 70 years as you claim, they would never have put down their money. Also, the American consul would not occupy the entire landmass. Clearly, Eko Atlantic is not a hot property. It's too pricy for the environment.
Why would I want to spend so much to buy an apartment in Lagos when I can buy in Rabat, Prague, and Lisbon.
Eko Atlantic many not be the first choice for global billionaires.
Is the project a failure? Too early to say. But it is clearly very ambitious.

bro, what you wrote down is totally wrong.

the investors have already calculated the risk, that is why they decided to develop the land.

you type as if growth is stagnant, as i wrote earlier, prime real estate is long term, infact, all over the world, a single prime properties takes over 3-7 years for it to be sold, when compared to normal properties, also buying prime residential or commercial properties are investment for the rich and a way to protect their asset from inflation

Eko Atlantic, is not only a prime residential area but also a prime commercial area, so banks, malls and some lifestyle businesses will like to set shop there, so in a way it is a win for the developers

thebosstrevor1:


bro, what you wrote down is totally wrong.

the investors have already calculated the risk, that is why they decided to develop the land.

you type as if growth is stagnant, as i wrote earlier, prime real estate is long term, infact, all over the world, a single prime properties takes over 3-7 years for it to be sold, when compared to normal properties, also buying prime residential or commercial properties are investment for the rich and a way to protect their asset from inflation

Eko Atlantic, is not only a prime residential area but also a prime commercial area, so banks, malls and some lifestyle businesses will like to set shop there, so in a way it is a win for the developers

Oga if you invest 1 million dollars in any property, you are supposed to get 1 million in max of 20 years.

Just know that APC happened and investors are trapped.

It can only become prime when its fully occupied by the rich neighbours.

tctrills:

We all know that beach land is prime and it's too early to call the project a failure but 13 years is too long compared to similar projects across the world.

The project is not a failure.

Many lands have been bought there that is what you don't realize.

some banks have bought lands and some mall developers have also bought some lands, it is up to them to build what they want to build, so it is not the developer problem.

the land there can also be used for speculative purposes, some companies or owners in the future will sell their lands to developers or other people looking to build something to cater to HNI.

Vulturereloaded:


Oga if you invest 1 million dollars in any property, you are supposed to get 1 million in max of 20 years.

Just know that APC happened and investors are trapped.

It can only become prime when its fully occupied by the rich neighbours.

sorry that is not how real investment works.

if you invest 1 million dollars in a prime property, you will get more than 1 million in 20 years

roi can be from rent etc. rich people buying prime properties are not dumb, they know what they are doing

a 5 million apartment in eko Atlantic will be worth 9 million dollars in 10 years that is because of inflation and speculation

thebosstrevor1:


bro, what you wrote down is totally wrong.

the investors have already calculated the risk, that is why they decided to develop the land.

you type as if growth is stagnant, as i wrote earlier, prime real estate is long term, infact, all over the world, a single prime properties takes over 3-7 years for it to be sold, when compared to normal properties, also buying prime residential or commercial properties are investment for the rich and a way to protect their asset from inflation

Eko Atlantic, is not only a prime residential area but also a prime commercial area, so banks, malls and some lifestyle businesses will like to set shop there, so in a way it is a win for the developers

First like I said, no investor looks to 70 years to take in profit.
We all know real estate is long term but this wouldn't be the first time real estate investors have miscalculated.
Remember the 2008 global financial crisis, right now, the Chinese economy is hit by a real estate burst.
Real estate of such magnitude in an environment like Nigeria could be high risk high reward. I am yet to call it a failure.
But I asked why would I buy such property when there are cheaper properties in more choice locations like Lisbon?
Have you asked why Banana island is not known for its malls? Even businesses don't spend money anyhow. They look to make profit.
Have you heard of the world islands in Dubai, built almost 20 years ago. Today it's still not fully sold out.

thebosstrevor1:


The project is not a failure.

Many lands have been bought there that is what you don't realize.

some banks have bought lands and some mall developers have also bought some lands, it is up to them to build what they want to build, so it is not the developer problem.

the land there can also be used for speculative purposes, some companies or owners in the future will sell their lands to developers or other people looking to build something to cater to HNI.

What percentage of the land have been bought?

thebosstrevor1:


sorry that is not how real investment works.

if you invest 1 million dollars in a prime property, you will get more than 1 million in 20 years

roi can be from rent etc. rich people buying prime properties are not dumb, they know what they are doing

a 5 million apartment in eko Atlantic will be worth 9 million dollars in 10 years that is because of inflation and speculation

I said u are expected to have gotten 1 million which is your capital, assuming you still retain the property.

Why will any sane person invest such an amount of money in a country where the central bank still controls the exchange rate?

You have to consider the overall growth of that country before investing.

Stability is the number one thing investors look out for, and APC have shown th world how unstable and visionless a government can be.

I can bet you that unless Peter obi becomes president and investors confidence pickup.

Eko Atlantic will remain like this for 8 years.

Look at the FDI flow . Less than 1 billion dollars.

If APC remains in power, it might be $100,000 in 2023

Because it is a classical white elephant project.
Has zero impact on the poorest of the poor in society.
Built to hide embezzled money.

tctrills:

What percentage of the land have been bought?

100% from what i understood

as far as 2015, land prices were U$1,800 per square metre for inner city plots while plots located along the road and waterfront were at US$2,500 / sq. m and US$3,000 / sq. m.

everything have been bought and now land speculators have taken over selling land *8 of initial price

Vulturereloaded:


I said u are expected to have gotten 1 million which is your capital, assuming you still retain the property.

Why will any sane person invest such an amount of money in a country where the central bank still controls the exchange rate?

You have to consider the overall growth of that country before investing.

Stability is the number one thing investors look out for, and APC have shown th world how unstable and visionless a government can be.

I can bet you that unless Peter obi becomes president and investors confidence pickup.

Eko Atlantic will remain like this for 8 years.

Look at the FDI flow . Less than 1 billion dollars.

If APC remains in power, it might be $100,000 in 2023

it makes no sense to argue with you.

fyi, all lands in eko Atlantic have been bought

Nigerialabalaba:
Bad belle omo ibo, eko atlantic land wey no even reach ultra HNI people sef. Place wey people don dey live and work now for up to 10 years!
Mesef sabi 5 people wey d place na dem permanent residence for black pearl towers. olodo omo ibo oshi.

instead make u go find beta work do, u dey hear dey worry about tinubu wey bigger pass ur whole iboland.

Omo ibo OP, eko atlantic no be ur mate or iboland mate o.

https://pmnewsnigeria.com/2019/05/15/us-buys-1000-hectares-of-land-in-eko-atlantic-city-to-relocate-consulate/?amp=1

US buys 1,000 hectares of land in Eko Atlantic, what kind of nonsense is these?

The whole size of Eko Atlantic up to one thousand hectares or maybe slightly more?

thebosstrevor1:


it makes no sense to argue with you.

fyi, all lands in eko Atlantic have been bought

And why hasn't it become a city? Investors are trapped.

Unless its supposed to be a garden without buildings.

tctrills:

First like I said, no investor looks to 70 years to take in profit.
We all know real estate is long term but this wouldn't be the first time real estate investors have miscalculated.
Remember the 2008 global financial crisis, right now, the Chinese economy is hit by a real estate burst.
Real estate of such magnitude in an environment like Nigeria could be high risk high reward. I am yet to call it a failure.
But I asked why would I buy such property when there are cheaper properties in more choice locations like Lisbon?
Have you asked why Banana island is not known for its malls? Even businesses don't spend money anyhow. They look to make profit.
Have you heard of the world islands in Dubai, built almost 20 years ago. Today it's still not fully sold out.

They didnt miscalculated, people can buy land and develop it to their taste, so how did they miscalculate?

Vulturereloaded:


And why hasn't it become a city? Investors are trapped.

Unless its supposed to be a garden without buildings.

yes, it is supposed to be a garden for planting ogbono

buckeyemedia:
US buys 1,000 hectares of land in Eko Atlantic, what kind of nonsense is these?

The whole size of Eko Atlantic up to one thousand hectares or maybe slightly more?

Lol and the city itself is about 1000 acres. So US owns the place now. Its US military base in Nigeria

thebosstrevor1:


yes, it is supposed to be a garden for planting ogbono

Or better still Agbado and Cassava .

Im glad you can see that a failed government and party, affects everythin, including real estate.

Vulturereloaded:


Lol and the city itself is about 1000 acres. So US owns the place now. Its US military base in Nigeria

1000 acres and 1000 hectares are not the same thing.

guy use your head

Eko alantic is about 10 million square metres, (2471 arces) the US embassy is just 12.2 acres

thebosstrevor1:




1000 acres and 1000 hectares are not the same thing.

guy use your head

Eko alantic is about 10 million square metres, (2471 arces) the US embassy is just 12.2 acres

You should know its an error. Eko Atlantic is 1000 hectares , and there is no way US will buy 1000 hectars. So you should have used your sense.

The post above says 1000 hectars. And i said if US buys 1000 hectars, they own the city.

https://pmnewsnigeria.com/2019/05/15/us-buys-1000-hectares-of-land-in-eko-atlantic-city-to-relocate-consulate/?amp=1

This your post shows you stay inside a hole in your potopoto republic ,the amount of classy restaurants and service apartment in eko Atlantic ,where was Hamza kode arrested ,am not sure you have been to Lagos before self ,haters

If you have not been there you have no reason to condem the place,i go there almost once in a week because of the nature of my business, people are seriously building over there, there is even an hotel there right patronize by a lot of folks, Don't say what you have no idea about.

In Ikpazu's voice, those eager to see the completion are those that can't even buy a bottle of coke in that city. You are eager to see it's completion, do you have a plot there or you have any business there? Do you give anybody money to build a house for you there and the person has not done that?
What is your eagerness about?

Koralords:
This your post shows you stay inside a hole in your potopoto republic ,the amount of classy restaurants and service apartment in eko Atlantic ,where was Hamza kode arrested ,am not sure you have been to Lagos before self ,haters

So the city is a restaurant city? Thats because nobody wants to put a dime in building, so they can give the land out for restaurant.

The current APC Nigeria cannot command such investment.


So you spend 1 million dollars on land for restaurant business in Nigeria? You are the one living in a hole.

Vulturereloaded:


So the city is a restaurant city? Thats because nobody wants to put a dime in building, so they can give the land out for restaurant.

The current APC Nigeria cannot command such investment.


So you spend 1 million dollars on land for restaurant business in Nigeria? You are the one living in a hole.

Am telling you its already functioning,a female friend of mine posted a video thought she travelled to Dubai before she told me its eko Atlantic, make una no worry very soon it start operating at full capacity ,you people are jealous cos in the next 500 years such a project can never be sited in your regions

Koralords:

Am telling you its already functioning,a female friend of mine posted a video thought she travelled to Dubai before she told me its eko Atlantic, make una no worry very soon it start operating at full capacity ,you people are jealous cos in the next 500 years such a project can never be sited in your regions

Where will it start functioning from? Is it the average Nigerian that will invest there to make it function?

Is it foreigners that will invest there? Havent u seen the FDI in 2022?

Is it corrupt politicians that will invest in a collapsed economy?

So they will leave a place like this where they are sure of annual 8% on their investment, and invest in EKO ATLANTIC?


https://www.youtube.com/watch?v=__ITDuyr5vQ

Vulturereloaded:


Where will it start functioning from? Is it the average Nigerian that will invest there to make it function?

Is it foreigners that will invest there? Havent u seen the FDI in 2022?

Is it corrupt politicians that will invest in a collapsed economy?

So they will leave a place like this where they are sure of annual 8% on their investment, and invest in EKO ATLANTIC?


https://www.youtube.com/watch?v=__ITDuyr5vQ

Dude, please just shut up abeg.

Eko Atlantic is a reality, and your kids will not benefit from its offerings with your negativity.

Go and tell the folks who've put up these structures there, that they don't know what they're doing.