In August 2015, the immediate past Governor of Lagos State, Mr. Akinwunmi Ambode cancelled the two-year old concession deal of the Falomo Shopping Centre in Ikoyi, Lagos to Afriland Properties (formerly UBA Properties), a member of Heirs Holdings Group, founded by billionaire banker, Tony O. Elumelu.
The cancellation was on the grounds that the terms and conditions of the agreement, stating that they are grossly detrimental to the interest of the people of Lagos State.
On the table in the concession agreement sealed in 2013 under the administration of Babatunde Raji Fashola would have been a world-class commercial venture that will yielded a state-of-the-art shopping mall along with an office complex and luxury residential apartments.
Before the cancellation, equipment and manpower had been mobilized to the site with the old structure leveled to the ground and Lagosians were upbeat, waiting to see the ultra-modern spectacle sprouted out of the expansive complex that will beautify Lagos skyline on completion as well as give Lagosians a new shopping experience.
But that was not to be, albeit temporarily, as we learnt that for four years of Ambode administration, every effort of Elumelu and his holding company to get the decision reversed met a brick wall.
The business tycoon was said to have deployed his contacts and influence to get the stalled N30 billion project stalled.
But the good news is that things have been sorted out with I dotted and T crossed with the new administration in place in Lagos.
Almost five years after, Monday March 2 to be precise,Elumelu unveiled plans and designs of the iconic Falomo Plaza and that of the abandoned Transcorp Hilton Hotel Lagos.
Taking to the Twitter on Monday evening, the foremost entrepreneur shared design images of the proposed edifice, as well as that of 600-room Transcorp Hilton Hotel, both located in the swanky neighbourhood of Ikoyi, Lagos, with his over 930,000 Twitter followers and almost 500,000 Instagram followers.
This is coming on the heels of the commissioning of another 8-Floor iconic Afriland Towers last Friday by the Lagos State Governor, Babajide Sanwo-Olu.
“It’s such a pleasure to drive the rebirth of an ancient landmark, recreating it into a modern 8-Floor workspace through the work of Afriland Plc. And we haven’t yet started,” Elumelu tweeted.
Afriland Towers —previously known as Raymond House and located on a popular landmark on Broad Street, Lagos Island— will now serve as the corporate head office of Afriland Properties Limited, a real estate arm of Elumelu’s investment.
Interestingly, Afriland Towers is also located within the Lagos Central Business District that Heirs Holdings is committed to re-developing.
According to the billionaire banker, it is a thing of joy to watch his company drive the transformation of the Lagos Central Business District.
“Indeed, this is just a tip of what we want to do at Falomo in Ikoyi. We are going to develop a world-class integrated complex at Falomo, and everyone will be pleased at the outcome,” said Elumelu who was named last week on the Ebony Power 100 List along with other influential black powerhouses.
Although Elumelu did not disclose when construction works will begin on the mega edifice in Falomo, he, however, has excitedly urged Nigerians to be expectant.
“Check out the designs for the Falomo Mall and the 600-Room Transcorp Hotel, Lagos coming soon,” he tweeted.
Upon its completion, Falomo Mall will add to the growing list of malls and complexes currently operate in the Nigeria’s commercial capital city.
With many Lagosians’ hope rekindled and believe that all encumbrances must have been cleared; they are now counting on Elumelu to deliver the mall, as well as the Transcorp Hilton Hotel in record time for the good of all.
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