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Landmark Group, owner and operators of the Landmark Beach Resort, said it has obtained firm assurances from the Federal and State Governments that the early phase of construction works on the Lagos-Calabar Coastal Road won’t disrupt its business operations.
The company disclosed this while responding to concerns raised by stakeholders and well-wishers regarding the road construction in a statement on Friday, April 5, 2024.
This is coming on the heels of reports stating that the Lagos State Government has issued a demolition warning to the proprietor of the $200 million beach resort because it obstructs the planned route of the 700-kilometre coastal road.
Highlighting the company's contribution to the economy, Landmark Group said its ecosystem is playing host to over 80 diverse businesses in one secure location and employing 4,000 people directly and 12,000 people indirectly.
It also stressed that over $100 million had been invested in developing the Landmark ecosystem, adding that the beachfront property purchase in 2007 predated the conception of the coastal road in 2012.
According to the company, the ongoing discussions with various arms of the Federal and State Governments led to the assurances that the early phase of construction works on the road project won’t interfere with its business operations.
"We wish to assure all concerned parties that the Landmark Group has been actively engaged in discussions with various arms of the federal and state government, including the Lagos State Government, the Federal and State Ministries of Tourism, and the Federal Ministry of Works and Housing.
"Through these discussions, we have received firm assurances that there will be no disruptions to business operations during the early phase of construction works while wide-ranging consultations are being had to achieve win-win solutions on this matter," the statement partly read.
Landmark Group revealed that it's exploring win-win solutions, including the possibility of rerouting a 1.5km section of the Lagos-Calabar Coastal Road to its original location along the undeveloped Water Corporation Road median.
"This solution aims to minimise the impact on existing businesses while facilitating the progress of this commendable infrastructure project.
"The Landmark Group recognises the significance of the Lagos Calabar Coastal Road as a vital infrastructure project that holds immense potential to boost the economy and enhance connectivity across the region.
"We firmly believe that through engaged consultations and collaborative efforts, it is possible to develop the road while preserving the thriving businesses that contribute significantly to the local economy.
"We extend our heartfelt gratitude to all stakeholders, well-wishers, and government authorities who have reached out to express their concerns and offer support. Your solidarity underscores the importance of preserving Nigerian businesses and ensuring sustainable development," the company stated.
Landmark Group added that it remains steadfast in its commitment to providing world-class leisure, hospitality, and tourism services, and is confident that with continued collaboration and goodwill, it can achieve a solution that balances the development of the Coastal Road with the preservation of proudly owned Nigerian businesses.