A significant milestone has been recorded in Nigeria’s real estate sector with the official groundbreaking of the Oyster Towers project at Eko Atlantic City.
The event, which took place in Lagos, brought together key stakeholders in government and the private sector, underscoring growing collaboration in delivering large-scale urban infrastructure.
Speaking at the ceremony, Babajide Sanwo-Olu highlighted the importance of the development, noting its potential impact on the real estate sector and its broader contribution to the economic growth of Lagos State and Nigeria as a whole. He emphasized that projects of such magnitude require bold vision and a willingness to pursue long-term urban transformation.
The governor also acknowledged the partnership driving the project, particularly the collaboration with Cooplag, describing it as a critical factor in bringing the development to life. According to him, initiatives like Oyster Towers are instrumental in shaping the future of modern urban living in the country.
Founder of Veritasi Homes and Properties, Adetola Nola, described the groundbreaking as more than the commencement of construction. He noted that it represents a continuation of a broader vision centered on discipline, innovation, and forward-looking city development.
According to Nola, Oyster Towers reflects a commitment to building infrastructure that aligns with the future needs of Nigerian cities rather than current limitations. He expressed appreciation to partners, stakeholders, and supporters who have contributed to the project’s progress.
Industry analysts suggest that developments such as Oyster Towers are expected to enhance investor confidence, generate employment opportunities, and reinforce Lagos’ position as a leading hub for real estate and urban development in Africa.
As construction begins, stakeholders remain optimistic that the project will play a key role in advancing sustainable urban growth and modern infrastructure in Nigeria.