Oando to invest in a US$180m office building in Nigeria

The Wing Towers Oando
The new Oando's Wing Towers in concept

RMB Westport and Oando are planning to set up a state-of-the-art office building in Lagos, to be named as the wing tower. The tower, to be constructed within three years, will be located along Ozumba Mbadiwe road and will aid in economic operations of the two companies.

Construction of the Wing tower will involve setting up a 12-Storey building on a road where many multinational companies are already operating. The tower will be built on a four-storey parking area and a reception platform. It will have waterfront restaurant, meeting rooms, function deck to be used for social and corporate events, public lobby, Porte Cochere and jetty.

“It’s an iconic building.”I think it’s a testimony that whatever we do in Oando, we do in a special way.” Wale Tinubu, the managing director of Oando Plc, who doubles as the conceiver of the project, said. She also indicated that many multinational businesses face challenges in terms of availability of “good” real estate for employee residential and company offices.

The Standard Bank, RMB Westport, Oando Plc, and Argentil Associate Management are the project developers and financiers. Cappa and D’Alberto will be involved in the construction of the complex.

Oando has signed an agreement to lease one of the towers but has indicated that commercial leases will be available in the other tower once construction is complete. One tower is two-third of the way through construction.

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