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The Landmark Group, owners of the demolished Landmark Resorts in Lagos State, has resolved to chart a new course after losing ₦42 billion worth of properties due to the ongoing Lagos-Calabar coastal highway project.
In a statement released on Friday, May 24, 2024, the Landmark Group reassured its partners and prospective investors not to be dismayed by the tragic turn of events.
The company stated that it is determined to strengthen its core values, as a testament to its resilience over two decades.
The statement reads, "Notwithstanding this tragedy, we continue to believe in the potential of this great country and remain committed to playing our part with the support of friends, well-wishers, partner businesses, employees and both our Federal and State Governments.
"It is our sincere hope that this unfortunate incident would not discourage other members of the diaspora or foreign investors from returning or investing in Nigeria as our over 20-year foray into this country leaves us convinced of the immense opportunities to be harnessed for the good of all; and particularly the resourceful Nigerian youth who form the backbone of the Landmark Group."
Landmark Group opens new investment opportunity
As contained in the statement, the Landmark Group revealed that other lucrative investment openings are available with its 'Landmark 2.0 and beachfront tourism opportunities.'
The company emphasised that talks are ongoing with prospective investors in three West African countries and two states in Nigeria regarding developing beachfront tourism in their localities.
"We are presently in discussions with a collection of investors who have shown keen interest in jointly rebuilding the greatest tourism platform in West Africa thereby not only recreating jobs which have now been lost but increasing them. We have identified a couple of attractive waterfront sites for purchase and are determined to move on from the pain and devastation to not just survive as a business but thrive.
"We are also pleased to announce that we are having in-depth discussions with three West African countries and two states in Nigeria regarding developing beachfront tourism in their localities, and we very much look forward to these new and exciting opportunities which could help enhance Nigeria and Africa's stature in the global tourism industry," the statement added.
Demolition of Landmark Resort by FG
The demolition sparked a wave of reactions from the various stakeholders, residents and tourists who patronise the resort. Many residents and frequent visitors expressed disappointment, lamenting the loss of a cherished recreational spot.
Business owners in the vicinity also voiced concerns about the potential economic impact, as the resort attracted significant foot traffic and boosted local commerce.
Compensation discussions have been set in motion, with the Federal Government taking the lead in compensating the affected businesses in the area, including the Landmark Group.