Landmark Beach Resort has announced plans to seek investment opportunities in states beyond Lagos and other West African countries following the partial demolition of its properties in a southwestern state.
In a circular signed by the Landmark Group on Thursday and posted on its official X (formerly Twitter) account, the company disclosed it is in advanced discussions with other Nigerian states to expand its investments beyond Lagos. These efforts aim to elevate Nigeria’s and Africa’s tourism sectors to international standards.
“We are currently in talks with a number of investors interested in jointly rebuilding the leading tourism platform in West Africa. This initiative will not only recreate jobs that have been lost but also increase them,” the company stated.
Landmark has identified several attractive waterfront sites for purchase and is committed to overcoming the recent challenges to thrive as a business. The company is also engaged in in-depth discussions with three West African countries and two Nigerian states to develop beachfront tourism in their areas. These new opportunities could enhance Nigeria’s and Africa’s standing in the global tourism industry.
Decade Long Contribution
Landmark revealed that it has attracted over $100 million in foreign investment since its establishment two decades ago. The company mentioned that the recent demolition affected thousands of families and over 50 micro beach businesses in Lagos.
“Landmark Group has been operating in Nigeria for over 20 years and has attracted over $100 million in foreign and domestic investment for developing the Landmark Ecosystem,” the company added. “While we accept the government’s ‘Eminent Domain’ rights for the greater public good and acknowledge the value of a coastal road, it is heartbreaking to see the destruction of our world-class tourism platform, which represented the hopes, dreams, and aspirations of thousands of families and over 50 micro and small beach businesses.”
Context
Nairametrics previously reported that 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.
The partial demolition occurred two weeks after sand filling certain areas within the resort. Furthermore, the management disclosed that they had not been officially approached for consultations regarding the coastal highway’s alignment nor involved in discussions about the Environmental Impact Assessment (EIA) concerning the project’s effects on the resort.
On Saturday, April 27, 2024, in accordance with the demolition notice issued by the Federal Government, several beach areas in Lagos, including the Mami Chula Beach Lifestyle section, were demolished.
