Founded in 1997 and headquartered in Victoria Island, Lagos, Landmark Africa Group has established itself as a major player in Nigeria’s real estate sector. Now, as recently announced, the development company has embarked on an expansion that will bring several tourism projects to two new African countries and three Nigerian states. Paul Onwuanibe, its managing director, said in an interview with Arise News that they had selected locations “based on the number of things the environment of the government surrounding and the will and the desire of that city to create a tourist attraction.”
In Nigeria, the real estate company’s geographical expansion involves two projects: the renovation of the Landmark Nike Lake Resort in Enugu and the transformation of Port Harcourt Tourist Beach. Onwuanibe recalls that the Nike Lake Resort was opened in the 1980s, when he was a university student: ‘It was probably the best tourism destination or tourist resort in Nigeria, West Africa at that time.” According to Onwuanibe, speaking to Arise News, the ambitious plan for this city consists of a 200-room hotel, villas, a “big nice lake around it and a lot of land with some sporting and leisure facilities”.
Meanwhile, Landmark Africa Group has acquired a beachfront site south of Port Harcourt to develop, in partnership with the Rivers State Government, into a beachfront leisure, hospitality and tourism destination. The company has also signed memoranda of understanding to develop beach resorts in Akwa Ibom State and in The Gambia. At a cost of around $5 million each, Landmark Africa Group will fully finance the construction and refurbishment of the projects, while the partner governments will provide the land.
One of the conclusions we can draw from the news of these African projects is undoubtedly the existence of strong confidence in the African tourism market. In fact, Onwuanibe highlighted the favourable and active attitude of the Gambian and Nigerian authorities, who are concerned with creating “an environment that’s right for tourism”, a crucial factor for their investment. After all, according to the CEO of Landmark Africa Group, success in tourism is based on “accessibility, beauty and security”.
The economic impact promises to be substantial; according to Onwuanibe, the Enugu project alone could generate “employment opportunities for over 4,000-5,000 people”. On the other hand — and this is interesting — the property developer is embracing an innovative and collaborative business model with local entrepreneurs: in order to provide services to guests and tourists, it partners with small and medium-sized businesses “without charging them rent, sharing revenues instead”.
Sources: Arise News, Landmark Africa Group, Nairametrics, Semafor, Tekedia.
Images: Landmark Africa Group.
