• Sunday, April 28, 2024
businessday logo

BusinessDay

Developers target FDI with proposed Lekki World Trade Centre

Foreign investments into Nigeria dipped by 33% to $1bn in Q2

A consortium of developers says they have their eyes on attracting foreign direct investments (FDI) and fresh businesses to Nigeria with the proposed Lekki World Trade Centre (LWTC) to be sited in the Lekki area of Lagos State.

LWTC, according to the developers, will become one of the most prominent mixed-use developments in the country, with a prime location within the Lekki Free Zone area.

The project is designed to be a hub of commerce, culture, and luxury living, with a range of retail, residential, hospitality and commercial units set to be on offer for both local and international investors to key into.

Located within the fast-growing Free Zone area, the LWTC is positioned to cater to the needs of various investors, including those with commitments to the Dangote Petrochemical Complex, Pan-Atlantic University, Lekki Deep Seaport, New Lekki International Airport and many other multi-billion Naira investments that will be established in the Lekki axis.

Tomiwa Idowu, a representative of the consortium of developers, told journalists that the trade centre will offer a unique opportunity to create a world-class destination for business and investment in Nigeria.

“We are committed to delivering a project that will set new standards in terms of quality, innovation, and sustainability, and create a truly iconic landmark that will be remembered for generations to come,” Idowu said.

He said the LWTC is expected to be completed within the next two years for the use of investors and businesses across the nation.

Read also: Lekki Port opens for business two months after the Presidential inauguration

The proposed trade centre is being designed by Cape Town-based, international architects – Forte Architetti, with a focus on creating an iconic landmark that will stand the test of time.

The project will feature cutting-edge design elements, state-of-the-art technology, and a range of high-end amenities, to create a truly global destination for business and investment.

With its strategic location, the facility will become a magnet for foreign direct investment in Nigeria and a symbol of the country’s economic growth and development.

Developed by a consortium of experienced developers with a wealth of expertise in creating high-end mixed-use developments across the world, the trade centre is being executed with a keen focus on quality, innovation, and sustainability, with the aim of creating a world-class destination for business and investment in Lagos.

The LWTC will feature over 150,000 square meters of leasable space, spread across retail, residential, hospitality and commercial units. The retail segment will consist of high-end stores, restaurants, and cafes, while the residential segment will consist of luxury apartments, penthouses and duplexes, offering stunning views of the surrounding landscape.

The developers said that the hospitality segment will feature a world-class hotel, offering luxury accommodation, conference and meeting facilities, and other high-end amenities while the commercial segment will provide office space for various businesses, ranging from startups to large corporations.

It is expected to attract a diverse range of tenants, including local and international businesses, tourists, and residents, and to create numerous employment opportunities for the local community and contribute significantly to the economic growth of the region.

The project will incorporate green building technologies, including renewable energy, rainwater harvesting, and waste recycling, to reduce its carbon footprint and promote environmental sustainability.