So, THIS IS HOW EKO ATLANTIC WORKS (THREAD) https://twitter.com/teslimalabi_/status/1249597889090711553

1. So, here’s how Eko Atlantic works, if you’re interest in the subject beyond cheap clicks and RTs. One company is reclaiming the land, laying ALL the infrastructure (power, roads, sewage, drainage, fibre optics), developing the city (not buildings) and maintaining it.

2. All of this is privately funded btw. No government funding. That same company (South Energyx Nigeria/ @EkoAtlantic) is also responsible for land sales and regulation.

3. Obviously, developing a 10 million sqm city from ground up comes at cost. For context: that’s almost 2x the size of VI.

For a 10 million sqm city, there will be different building types at different price points.

4. Some buildings belong to companies, some will be entirely offices, some residential, some will be mixed-use.

5. Each developer determines their own prices, independent of @EkoAtlantic (South Energyx) just as landlords in any free market economy independently determine the prices of their buildings.

6. Of course, they take into consideration market forces and future projections. But it’s largely up to them to decide.

7. For the residential buildings, once purchased, interior decor, maintenance, etc. are up to the owners and tenants. Not the developer, not Eko Atlantic. Just as Sanwoolu cannot dictate to you how to decorate your house.

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