The Nigerian economy is expected to take a great leap with the construction of the N40 billion Atlantic Resort project commencing in November this year.
The project, which will provide over 25,000 direct jobs is expected to draw multi-billion dollar investments to the ailing economy on completion of the first phase next year.
Speaking at the signing of the Memorandum of Understanding (MoU) between Grenadines Homes and Cappa & D’Alberto in Lagos at the weekend, the Chairman of the Palton Morgan Holdings, the parent company of Grenadines, Femi Banwo, said at the completion, the project will deliver a world-class luxury edifice comprising four towers, outstanding hotel, restaurants, shops and retail outlets.
“It is going to be the best thing coming from Nigeria and out of this world, a serene environment with school where you can live,” he said.
Banwo said the company has selected the best partners that worked on the best projects of the world like Emirates Stadium, to work on the project to inspire hope and pride in the country.
He noted that some of the money for the project would be sourced locally and offshore, and that more Foreign Direct Investment (FDI) would be coming into the country through the project.
The Managing Director of the holdings, Adeyinka Adesope, said the vision of the company was to build a first class project that would re-write the history of Nigeria and unleash economic potential of the country as it would attract more tourists into the country.
“We chose our partners diligently. Cappa & D’Alberto is the main contractor and we expect them to deliver the first phase, a 20-storey building in 18 months but the whole four towers may take up to three years. We are confident that Cappa & D’Alberto, an indigenous company that has been in Nigeria since 1932, will deliver on time to specification,” he said.
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