Dangote begins 18 floor Lagos headquarters
Notwithstanding, the low occupancy rate in Ikoyi axis referred as the new Manhattan of Lagos real estate, Dangote Industries has flagged off an 18-floor headquarter building in the area.
Like Manhattan, the most densely populated of New York City’s 5 boroughs with iconic sites including skyscrapers such as the Empire State Building, neon-lit Times Square and the theaters of Broadway, Alfred Rewane, Ikoyi is home to most expensive grade A office commercial developments in Lagos.
The building’s orientation in the area is critical, with rentals going as high as 45,000 dollars a month and average rentals for prime grade office space in this region are $1,000/m²/annum, similar to rates seen in established markets within the United States and Europe.
The commencement of works on the global headquarters of the Dangote Industries Limited, further offers fresh impetus to the status of the area as an exclusive hub for commercial activity.
Located before Ineh-Mic Auto Sales shop, adjacent Rumens Road, the edifice is to be completed within 24 months. The development is being handled by the subsidiary of Dangote Industries Limited, Dangote Projects, which is acting as the main contractor.
The development is designed by James Cubitt Architects, while Trevi Foundations Nigeria Limited is responsible for the piling and foundation works.
Security consultant for the project is being handled by DFR Engineers, while the ICT consultant is Resourcery.
Aedas Interiors is responsible for the interiors and KOA Consultants is undertaking the electrical services works as well as HVAC and pipe works.
Other theme members include Tillyards Nigeria Limited who is the quantity surveyors; Phenix Advanced Engineering undertakes the concrete frame works; while the structural engineering works are being handled by MOA Limited.
An official of the conglomerate said, the addition of Dangote industries headquarters to the hybrid districts is a positive trend in urban development and transit-oriented developments.
According to him, the office was delayed by litigation, which has been deposed off as works have finally commenced at the site at Alfred Rewane road.
Although, the contractors do not want to speak on the project when The Guardian visited the site last week, it was gathered that the project is moving rapidly with initial site clearing and piling works for their new global headquarters almost completed.
The official said the project is being kept out of the public because of the need to avoid people who would want to supply one item or the other.
Currently, the conglomerate occupies a rented apartment on multiple floors in Union Marble House, which is also on Alfred Rewane Road.
The interest in the development of large commercial properties on Alfred Rewane (formerly Kingsway Road) has grown extensively in recent years, with additions to its development pipeline regularly seen.
Currently, over seven large towers (each over 13 floors) comprising of office, hospitality, residential and retail elements are under construction by private developers, while some have been completed.
They include Kingsway Tower (Skyview Towers Limited [SPV]) Chelsea Group Hotel, Heritage Place (Actis), BAT Rising Sun
(British American Tobacco), Sogenal Tower (Sogenal Oil & Gas) and Kingstower (African Capital Alliance).
The inclusion of residential and retail elements in a few of these projects, as well as the existence of Southern Sun, Tarino Tower, Ikoyi club nearby and the Chelsea Group hotel development will also mean that this region could become a mixed use hub.