The management of Landmark Beach Resort has announced plans to pursue investment opportunities in states beyond Lagos and other West African nations following the demolition of part of its properties in the southwestern state.
This development was disclosed in a circular signed by the Landmark Group on Thursday and posted on its official X (formerly Twitter) account. The statement revealed that the company is in advanced discussions with other states in Nigeria to expand its investments beyond Lagos.
According to the statement, these investment talks aim to elevate Nigeria’s and Africa’s tourism sectors to international standards.
“We are currently in discussions with a collection of investors who have shown keen interest in jointly rebuilding the greatest tourism platform in West Africa, thereby not only recreating jobs that have now been lost but increasing them. We have identified several attractive waterfront sites for purchase and are determined to move on from the pain and devastation to not just survive as a business but thrive,” the statement read.
Landmark Beach Resort also highlighted ongoing discussions with three West African countries and two states in Nigeria to develop beachfront tourism in these regions, which could significantly enhance Nigeria’s and Africa’s stature in the global tourism industry.
$100 Million in Foreign Investment
The company noted that it has attracted over $100 million in foreign investment over its two decades of operation. It emphasized that the demolished properties affected thousands of families and over 50 micro beach businesses in Lagos.
READ ALSO: Federal Government Demolishes Landmark Beach Resort to Make Way for Coastal Highway
“The 27-year-old Landmark Group has been in business in Nigeria for over 20 years and has attracted over $100 million in foreign and domestic investment for developing the Landmark Ecosystem. While we understand the Government’s ‘Eminent Domain’ rights for the greater public good and the value of a coastal road, it is heart-wrenching to see the destruction of our world-class tourism platform that represented the hopes, dreams, and aspirations of thousands of families and over 50 micro and small beach businesses,” the statement added.
Background
On April 29, 2024, demolition activities began at Landmark Beach Resort on Victoria Island’s Oniru area due to its encroachment on the Right-of-Way designated for the Lagos-Calabar Coastal Highway. This partial demolition occurred two weeks after sand filling in certain areas within the resort.
Furthermore, Landmark Beach Resort management disclosed that they had not been officially approached for consultations regarding the coastal highway’s alignment or involved in discussions about the Environmental Impact Assessment (EIA) concerning the project’s effects on the resort.
On April 27, 2024, consistent with the demolition notice issued by the Federal Government, several beach areas in Lagos, including the Mami Chula Beach Lifestyle section, were demolished.
