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Edmark marks ground breaking ceremony of Nigeria’s first blockchain-powered real estate project

Edmark City Development Company Limited has marked a significant milestone in continuing efforts to create and build a space for a happy community in Nigeria as they celebrated the ground breaking ceremony of Edmark City, Nigeria’s first ever blockchained fuelled smarty city development.

This investment project is in part, Edmark Group of Companies’ opportunity to re- invest the Nairas from their multi-level marketing (MLM) business under the umbrella of Edmark International (Nigeria). The company envisions Edmark City as the first iconic Smart City and blockchain-powered real estate in Africa.

Speaking during the grand ground-breaking ceremony of Edmark City, Idris Salako, commissioner for Physical Planning and Urban Development said the project is a step in the right direction towards achieving a smart city for Lagos State.

Salako, noted that apart from helping achieve the smart city programme of the government, the project also provides opportunity for employment for the youths, and it is also a revenue source for the owners and the government as tax will be paid to the government.

He added that Edmark City will also reduce pressure on Lagos State’s infrastructure.

Read also: Novarick Homes partners BRG to leverage tech-driven innovations in real estate

“Lagos State played a normal role as a regulatory body. They applied for their necessary land permits and approvals. We looked at it and granted them the permits as at when due,” he disclosed.

“Cities are becoming smarter and will continue to do so in the coming years. As we embrace modernisation, Smart City developments and technology can result in better living by improving safety, health and the environment, reducing costs and boosting the economy”, Sam Low Ban Chai, the company’s Founder and Chairman said.

Continuing his vision of Edmark’s intention in Nigeria, Low shared, “Nigeria remains pivotal towards the growth of Edmark in Africa, and we remain invested to see its people and communities prosper through our vision and products that promoted healthy holistic well-being. As a mean to give back to the people of Nigeria, Edmark remains in the country to continually contribute in infrastructure development and human resources. We see a long and bright future here in Nigeria.”

According to Bien Wapanio, Chief Operations Officer of Edmark in Nigeria, “globally, transition to smarter cities is already happening in many places around the world. According to a study, the global smart cities market will grow at a compound annual growth rate of 18.9 percent from 2019 to 2025 to reach $237.6 billion.

This projected growth demonstrates how seriously cities are taking the transition to become smart cities. Over the coming years, we’ll see many new smart cities and innovations emerge. And we at Edmark Group of Companies, aims to be part of this change towards a dream living future for all.

This first of its kind iconic property is strategically located at Lagos Epe Express Road by 3rd roundabout, Lekki Phase I, Lagos, Nigeria and it consists of a twin 20-storey building with a supermarket on the ground floor, parking lots from 1st to 6th floors and a total of 13 floors for residential service apartments that comprises of studio rooms, 1-bedrooms, 2-bedrooms, 1-bedroom penthouses and 2-bedroom penthouses.

The property will also house another 7-storey building for shops, office spaces, a 2,000 pax capacity event hall, showrooms and staff accommodations.

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