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Nairaland Forum / Nairaland / General / Politics / 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) (10203 Views)
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Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by tctrills: 10:03pm On Jul 26, 2022 |
thebosstrevor1: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. 2 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by sript: 10:04pm On Jul 26, 2022 |
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 2 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by drmuchin: 10:07pm On Jul 26, 2022 |
NIGERIA RECESSION/SAPA IS THE REASON. |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Vulturereloaded: 10:08pm On Jul 26, 2022 |
Thedon22: 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. 7 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 10:08pm On Jul 26, 2022 |
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. 6 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 10:09pm On Jul 26, 2022 |
tctrills: 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 |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Vulturereloaded: 10:11pm On Jul 26, 2022 |
thebosstrevor1: 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. 7 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 10:13pm On Jul 26, 2022 |
tctrills: 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. 2 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 10:17pm On Jul 26, 2022 |
Vulturereloaded: 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 |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by tctrills: 10:21pm On Jul 26, 2022 |
thebosstrevor1: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. |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by tctrills: 10:23pm On Jul 26, 2022 |
thebosstrevor1:What percentage of the land have been bought? |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Vulturereloaded: 10:23pm On Jul 26, 2022 |
thebosstrevor1: 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
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Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by onumadu: 10:28pm On Jul 26, 2022 |
Because it is a classical white elephant project. Has zero impact on the poorest of the poor in society. Built to hide embezzled money. 1 Like |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 10:33pm On Jul 26, 2022 |
tctrills: 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 |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 10:35pm On Jul 26, 2022 |
Vulturereloaded: it makes no sense to argue with you. fyi, all lands in eko Atlantic have been bought |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by buckeyemedia: 10:37pm On Jul 26, 2022 |
Nigerialabalaba: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? 2 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Vulturereloaded: 10:37pm On Jul 26, 2022 |
thebosstrevor1: And why hasn't it become a city? Investors are trapped. Unless its supposed to be a garden without buildings. 2 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 10:38pm On Jul 26, 2022 |
tctrills: They didnt miscalculated, people can buy land and develop it to their taste, so how did they miscalculate? |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 10:39pm On Jul 26, 2022 |
Vulturereloaded: yes, it is supposed to be a garden for planting ogbono 2 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Vulturereloaded: 10:42pm On Jul 26, 2022 |
buckeyemedia: Lol and the city itself is about 1000 acres. So US owns the place now. Its US military base in Nigeria 3 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Vulturereloaded: 10:42pm On Jul 26, 2022 |
thebosstrevor1: Or better still Agbado and Cassava . Im glad you can see that a failed government and party, affects everythin, including real estate. 3 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Nobody: 11:03pm On Jul 26, 2022 |
Vulturereloaded: 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 |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Vulturereloaded: 11:14pm On Jul 26, 2022 |
thebosstrevor1: 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 1 Like |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Koralords: 11:18pm On Jul 26, 2022 |
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 1 Like |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by roundman: 11:20pm On Jul 26, 2022 |
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. 1 Like |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by alizma: 11:20pm On Jul 26, 2022 |
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? |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Vulturereloaded: 11:35pm On Jul 26, 2022 |
Koralords: 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. |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Koralords: 11:43pm On Jul 26, 2022 |
Vulturereloaded: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 2 Likes |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Vulturereloaded: 11:55pm On Jul 26, 2022 |
Koralords: 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 |
Re: 13 Years After: Why Is Eko Atlantic City Still Empty? (Video) by Rostikol: 12:29am On Jul 27, 2022 |
Vulturereloaded: 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. 1 Like |
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