The Opportunity
A purpose-built financial and residential city rising from reclaimed ocean land off Victoria Island, Lagos. Protected by the Great Wall of Lagos. Operating under a Free Trade Zone framework that offers structural advantages unavailable anywhere else in Nigeria.
Master-planned area
10M m²
Across all districts — one of the largest urban developments in Africa
Target population at build-out
250k
Residents plus 150,000 daily commuters at full city capacity
Land reclaimed to date
6.5 km²
2028 target for full reclamation completion across all phases
100% foreign ownership. Zero withholding tax on dividends. Free profit repatriation. Duty-free imports. Structural incentives that change the economics of every capital structure decision in EAC.
All land sold directly by South Energyx Nigeria Limited with full title documentation. Development control sits with the EAC Development Authority — a separate regime from Lagos State. Understanding this distinction is not optional before any application.
Ten distinct districts with varying plot ratios, height limits, and frontage requirements. Misreading the planning envelope is the most common — and most expensive — error developers make in EAC. More than fifteen years of navigating it is not a marketing claim. It is the service.
24/7 independent power. Fibre-optic connectivity. Potable water. Stormwater drainage. The infrastructure is operational across phases 1 and 2 — a development-ready platform that does not exist elsewhere in Lagos at this quality.
Marine logistics, specialist foundation engineering, and the regulatory overlay add real cost over mainland Lagos. This premium is quantifiable and must be modelled honestly. The compensating factor is a pricing tier and an asset class that justifies it — when the product is right.
Nigerian lenders are increasingly familiar with EAC assets as security. Off-plan residential sales — demonstrated by the Azuri Towers model — reduce equity drawdown and satisfy pre-sale thresholds ahead of construction finance drawdown. The model is proven. It requires the right structure.
Flood-free infrastructure. Free Trade Zone incentives. International investment from the Middle East, Europe, and the African diaspora. A regulatory framework that, once understood, offers clarity that the rest of Lagos cannot match.
“We have about 700 square kilometres of potential development… the promises of that whole axis give us the potential to have an enterprise value for developments along that corridor from about $1.4 trillion at the low end to $14 trillion.”— Olawale Opayinka · DAWN / BRACE Commission Forum · March 2026See how the figure is derived →
Eko Atlantic City is developed by South Energyx Nigeria Limited, a subsidiary of the Chagoury Group, in strategic partnership with the Lagos State Government. Makaya Consult FZE is an independent advisory firm — not affiliated with South Energyx or the Chagoury Group.