Lagos State Governor, Babajide Sanwo-Olu has flagged off the commercial suburb of Ikoyi,a major urban renewal project that will restore the aesthetic landscape of Falomo.
Lagos State Development and Property Corporation,LSDPC, sealed a joint redevelopment partnership with Afriland Properties Plc, a private developer, to turn former Falomo Shopping Complex to a premium sky-high real estate that will enhance the socio-economic outlook of the neighbourhood.
Sanwo-Olu, at the sod turning ceremony, said the construction flag-off ended a decade-long discussion with the developer to revive the project and build iconic towers that would turn around the fallow land for the benefit of the public.
The Governor, said the project was another milestone achieved by his administration to renew urban amenities, stressing that the strategic implementation of the Lagos Masterplan had been dependent on the Government’s ability to forge workable partnership between the public and private sectors.
Afriland Properties Plc is a subsidiary of Heir Holdings, owned by the foremost entrepreneur and banker, Tony Elumelu, said the partnership was another testimony to the Lagos State Government’s belief in the private sector as a key development driver in the State, praising the Lagos political leadership for setting the pace of private sector inclusion in governance.