An artist's impression of the marina and golf course at Lagos Keys.
The red block indicates the location of the Lagos Keys development.
South Africa-based golf course estate developer, Pinnacle Point Group (PPG) has completed many successful projects in its home country and abroad. The company is now turning its attention to Nigeria for one of its most ambitious projects ever, the Lagos Keys development. Jaco Maritz spoke to Dave McGregor, Group Executive: Sales and Marketing.
So what is PPG planning for the Lagos Keys development?
The golf course, which we've dubbed Lagos Keys, is on a peninsula right at the entrance of the harbour. As you come into the harbour, there is a strip of land that runs up to Badagry. This first ten kilometres of that peninsula has been set aside for the project.
The development, which will be broken-up into various phases, will feature a private golf and residential estate, marina and waterfront complex, hotels and a 18-storey pyramid. We will also have a 50 000-seater football stadium, which will be used for sport and music festivals. The adventure play area will feature a wave pool and water rides. It is going to be a very good destination for the local population to come and enjoy entertainment and facilities.
If you look at the terrain that we've got, it is for perfect for a links-type golf course. There are going to be four holes that run parallel to the Atlantic Ocean. On the internal piece of the island we've got a lot of water features so we'll carry the water theme through. And then on the back nine, all the holes run parallel to the Badagry creek, which is a fresh water river.
There is a requirement in Lagos for lifestyle estate living. When we brought the technical committee to come and have a look at our Pinnacle Point development in Mossel Bay they were taken aback with it and said that it is exactly the type of thing needed in Lagos – a good secure environment, park-like surroundings, great gardens and magnificent homes.
Tell us more about the Badagry Pyramid that will be situated in the resort.
Next to the golf course we will have the Badagry Pyramid which we think will be quite unique in the world. It is going to be 18 storeys high with a base of 100 square metres – almost the size of the small pyramid at Giza. It will certainly be a feature like the Burj in Dubai and it is on the flight path as you fly into Nigeria.
The pyramid will comprise 48 million solar panels which will help us generate power for the estate and amenities. It will be surrounded by four wind turbine generators, so we'll be looking at going very eco-friendly with this development. We will supplement this renewable power with generator power as there is no electricity on that side of the peninsula.
What will the commercial area entail?
We will have a very nice marina capable of taking up to 100 ft yachts. So you'll arrive at the marina, as you step off, there will be 20 boutique stops, we are looking at all the big brands. Nigerians are very fond of the big brands such as Louis Vuitton and Mont Blanc, and the shopping centre at the marina will cater for those needs.
How did PPH get involved in this project?
It started with our chairman, Lazarus Zim, who has had a very successful business career in Nigeria. He was the man who took MTN cell phone network to Nigeria, and was also responsible for introducing MNET and Dstv. Lazarus always had a very strong understanding of how to do business in Nigeria. He introduced us to Bright Igbinedion whose company Unibright is partnering us on the development. We went up to do the feasibility look around, and we loved what we saw. The piece of land we found was perfect and from there on it was just a no-brainer.
What kind of clientele will you be looking to attract to the resort?
The first group of people we'll speak to is the oil companies. I think access to a world class golf course, the facilities, the swimming pools, the yachting, will be a natural magnet for their executives. We will also approach the banks and look at the major clients on their books who would be interested in buying. And then just the successful Lagos businessmen. I think all of the sales would be to local Lagos and Nigerian residents. I don't think there will be a big international buy-in because it is not a holiday-destination, it is a business destination.
Are there many Nigerians who play golf?
The membership for the Ikoyi golf club is 12 500 with about 500 of them active. I think it is a developing sport with more and more Nigerians starting to play golf. But one of the advantages of living on a golf estate is that it is almost like living in a park because your lawn is manicured and all of your gardening is taken care off by the estate. So even if you are a non-golfer, it is still a very attractive environment to live in.
Will non-residents be able to play golf at the resort?
Absolutely. There will be a 200 bedroom five star hotel with large conference facilities. We've found that if you go to Lagos and attend a conference, the facilities can't cater for a huge number of people. So you'll be able to stay in the hotel, and play the golf course as well. It won't be resident-exclusive, it will be open to people coming in to play.
What role does the Lagos State Government play in the development?
We've entered into a memorandum of understanding with the Lagos State Government, to say that they would become partners with us on the development. It is a public private partnership with them providing the land and us providing the infrastructure, the services and the expertise.
Have you experienced any significant challenges up to now?
I think the challenges to date have just been to get the detailed layouts finalised. I must say that we've had full support from everybody that has been involved, particularly the Lagos State Government and the governor himself who is very keen to see the project succeed. There has certainly been no more hurdles than what we've had in any other of our developments.
Are you going to make use of local Nigerian companies for the execution of this project?
What we want to do is use as much local professional expertise as possible, and then supplement that with either international companies, or from South Africa. But the emphasis is going to be on using as many local companies as possible.
What is the time line for the project?
Lagos Keys will be developed in several phases with construction set to start in a few months. We hope to have the first phase of the project completed by 2012. We will start on phase two in 2010, so it will overlap. Phases three and four, which include a beach resort and more residential homes, should be completed by 2016.
Describe your own experience of Nigeria?
Well I'm happy to tell you that I went to Nigeria eleven times last year which is practically once a month. I feel as if I'm a resident of Lagos. I love the vibe; I love the people; and particularly the opportunities out there.
