FG To Transform Marina Car Parks To World Class Waterfront

The Marina car parks in Lagos would soon be transformed into a scenic waterfront through a Public Private Partnership (PPP) arrangement to boost leisure, tourism and hospitality activities in the country’s commercial capital.
The Director-General, Infrastructure Concession Regulatory Commission (ICRC), Mr Chidi Izuwah, disclosed this to newsmen after inspecting the proposed project site in Lagos, yesterday.
Izuwah explained that the Quayside project, which would be fully financed by private investors, would start from the Leventis/Apongbo axis down to the end of Marina axis.
Reports say that the Marina Quayside project is an unsolicited proposal submitted to the Federal Ministry of Power, Works and Housing by Harris AIB Associates Ltd, a Lagos based firm of architects and developers.
Izuwah told newsmen that the development would support the re-balancing of the economy of Lagos State because it is the commercial capital of the country.
“It will promote the growth of private sector employment from retail and leisure to high skilled occupations in creative, corporate, retail, digital industries and financial services.
“It is a transformative urban and water-front development project intended to be a tourist centre that will provide hotels, condominiums, commercial complexes. among many other facilities in the city.
“If you go to most developed cities in the world, water front are very valuable huge commercial investment, when you go to London, when you go to Sydney, Maryland just to mention.
“Waterfront is valuable piece of land which is developed for commercial and housing purposes, creating employment and revenue to the economic units.
“So there is what is called unsolicited proposal from a private component to develop what is called Marina Quayside project. This is what we called a privately initiated infrastructure proposal,” he said.