MTN Nigeria selects Eko Atlantic as its headquarters location to join other major companies like First Bank and Dangote Group that have chosen this 10-square-kilometer city for relocation. The United States Embassy plans to construct a new diplomatic facility within Eko Atlantic because the development attracts them with its advanced infrastructure and contemporary workspace design and organized urban design.
The MTN Nigeria CEO Karl Toriola announced on Wednesday that the Telco will construct its new headquarters within Eko Atlantic after initially revealing its plans four years ago. MTN represents the first telecommunications company to construct facilities in this coastal development which demonstrates their faith in the city’s position as a major Nigerian business center.
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“Beyond connectivity, we are committed to making long-term investments in Lagos. As part of this commitment, we have acquired a piece of land in Eko Atlantic City, and we will commence construction once we have gotten the equipment,” Toriola said at the MyLagosApp launch event in Lagos.
Eko Atlantic City was launched in 2008, with land reclamation starting the same year. Located next to Victoria Island, Lagos’ main business district, it aims to become the city’s most advanced commercial hub. With its modern infrastructure and strategic location, Eko Atlantic is attracting corporations, real estate investors, and high-profile organizations looking for a well-planned business environment.
Toriola did not reveal the building expenses while insiders estimated this figure to reach millions of dollars. The price of land in Eko Atlantic City depends on size and location and the planned purpose of each area. The land prices in Phase 1 and 2 of Eko Atlantic City start at $1,150 per square meter for plots that measure 2,200 square meters. The price per square meter for low-rise residential houses in Phase 3 of Eko Atlantic City starts at $1,050 since the minimum plot size is 1,200 square meters.
The total price per square meter could increase because of agency and administrative fees that are added to the costs. A 3,336 square-meter property listed on propertypro.ng requested ₦5 billion which represents a price of $1,200 per square meter.
MTN Nigeria has initiated construction of the largest Tier 4 data center in West Africa located in Lagos. The facility will serve as a carrier-neutral hub featuring 1,500 racks that permits connection of various Internet Service Providers (ISPs) and cloud service providers. The data center location confirmed by Toriola to TechCabal exists outside of Eko Atlantic and finds its position on the Lagos mainland.
“With seven degrees of connectivity, this facility will be the most sophisticated data hub in the region, further strengthening Nigeria’s position as a leader in digital transformation,” Toriola said.
Source: Techcabal
