Construction of the Mega $60 Billion Eko Atlantic City Takes Shape as its Construction Activities Increase

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Construction of the mega $60 billion Eko Atlantic City takes shape as construction activities increase to meet the set timeline. The increase in construction activities has piqued the interest of several investors. Though the developers of Eko Atlantic City could not achieve the projected 2020 timeline for the completion of the project’s 8.5-kilometer city wall, the city is currently upbeat as investor interest has risen, leading to increased construction activities. The City is now eyeing 2040 its completion timeline as it expects construction activities to maintain a steady pace.

Eko Atlantic’s developer, South Energyx, expects 300,000 people to live in the city and a further 250,000 people to commute to and from it by then. Over the past years, the construction of the City has been deemed as one that has been slow. Contrary to expectations, as of 2023, the project had only moved into its fourth out of six development phases. Furthermore, only 6.5km of the city wall was sand-filled, showing a slower pace than anticipated.

State of Affairs Regarding the Construction of Eko Atlantic City

Despite the slow progress, this year has seen significant progress in the development of Eko Atlantic City, with an increase in construction activity across various sectors. Investors with projects conceived for the long term are now moving to the site, intending to benefit from the renewed interest in luxury residential developments. The residential sector accounts for the majority share of the current projects in the city’s real estate pipeline. The city’s residential sector contributes 61.8% of the real estate pipeline projects.

Furthermore, construction has been seen to be taking shape on some of the largest infrastructure projects in the city. For instance, the construction of the Le Reve Tower, one of the tallest buildings in the city, is taking shape. Furthermore, A & A Towers, developed by Arkland Properties, and Azuri Towers, by Eko Development, also show progress. The project developers appreciate the support of the Lagos State and Federal governments.

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The Significance of the Construction Project

Once completed, the mega Eko Atlantic City is anticipated to contribute over $1 billion to improving Nigeria’s economy. Furthermore, it will help in the settlement of some of the residents in Nigeria, a country that is rapidly increasing in population. Nigeria is one of the fastest-growing nations in population worldwide and is expected to be the third most populous nation in the world behind India and China, by 2050. For this reason, the mega cities and projects implemented in the country must be completed. However, the city is also designed to help stop the erosion of Lagos City’s coastline. Its main objective is to reduce erosion, which includes future sea level rise and storm surges. On Lagos Bar Beach, coastal erosion has long been an issue, at a rate of 30 m per year in particular.

The Challenges Facing the Construction of Nigeria’s Mega Project

Though receiving accolades from most citizens and Nigeria’s federal government for its construction progress, Eko Atlantic City has also received criticism. One of the major challenges facing the project is the scrutiny it has received from nearby residents. The residents claim that although the project is expected to be eco-friendly and sustainable, it is doing the contrary. They say the ongoing construction has caused coastal erosion and ocean surges. Furthermore, these surges through living areas, flooding access roads, and taking down electricity poles have forced residents to relocate. Funding is also proving to be a major setback in expediting the city’s construction.

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