October 14, 2015

Development: Harbor Point, Victoria Island – Lagos

Kayode Ola

  • Name: Harbor Point
  • Location: Victoria Island, Lagos – Wilmot Point Close, Off Ahmadu Bello Way.
  • Size/Components: Two 10,000sqm Office Towers, 235 key 5-Star Hotel, 47 Branded Residences, 2,500sqm Retail Space
  • Use: Offices, Hospitality and Retail
  • Developers: Harbor Point Limited
  • Expected Completion: Q4 2018 (tentative)
  • Cost: $410m
  • Project Management Team: Project Management International, Ireland
  • Lead Architect: Perkins Eastman International, New York
  • Lead Local Architect: Design Group Nigeria
  • Mechanical and Electrical Engineers: Arup USA Inc., Powerfield Consulting, Nigeria
  • Structural Engineers ARUP USA, Inc., Morgan Omonitan and Abe, Nigeria;
  • Interior Designers: HBA International, Dubai
  • Quantity Surveyors: Bee Que Consultants, Nigeria
  • Legal Advisers: Aluko & Oyebode, Nigeria
  • Security Consultants: Control Risks Group, UK
  • Project Advisers: Frontier Capital Limited, Asset Management Group.

Harbor Point is a proposed mixed-use centre consisting of a 235 key 5-star hotel, 47 branded residences, and 20,000sqm of Grade A office and retail spaces. The site is located on Wilmot Point Close off Ahmadu Bello Way in Victoria Island, measuring 25,311sqm. Notably, the site is within an area offering scenic views of the Lagos Lagoon as well as the Atlantic Ocean. It is bordered to the North by the Federal College of Fishery and to the East by the Federal Institute of Oceanography and Research.

Harbor Point Limited (HPL) was incorporated to undertake the Harbor Point Centre Project. HPL is a boutique private real estate investment firm that focuses on delivering high-end residential, office and hospitality properties. The principals of the company have been actively involved in real estate development across Lagos and have since delivered prime developments within Victoria Island and Ikoyi. One notable project is 1 Murtala Mohammed Drive, a Grade A office development in Ikoyi, which has UBS, McKinsey and Co. and MasterCard as tenants. Harbor Point Limited is said to have developed strong partnerships with world class international and indigenous project teams and consultants for the execution of its projects.

The building will consist of three towers – the hotel tower and two office towers. The Hotel tower will accommodate 235-room 5-state luxury Hotel branded by Fairmont. The Fairmont branded luxury apartments will sit atop the Hotel tower, and both office towers will offer 10,000sqm of gross lettable space each. The podium will provide over 1,000 parking spaces along with 2,500sqm of retail space.

Harbour Point

All office floors will be delivered as shell and core, with each floor connected to mechanical and electrical systems. Total project cost is estimated at $410 million.

In order to achieve a seamless construction process, and properly manage the execution and timing of units into the market, the project will be constructed in 3 phases.

  • Phase 1A: The Fairmont Hotel
  • Phase 1B: The Fairmont Residences
  • Phase 2: The North Office Tower
  • Phase 4: The South Office Tower

The retail component of the project will incorporate 20 brands and will be the first of its kind for a mixed-use project. Construction of the project is expected to begin in 2016 and span 36 months.

Fairmont Hotel and Residence

The Hotel and Residence component of this project will carry the Fairmont brand which is a renowned global brand in the hospitality and luxury segment of real estate industry, with over 100 hotels and resorts spread across 30 countries. The brand is expected to boost the value of the residential component of this project, as Fairmont residences typically sell for 25% more than unbranded residences globally. The hotel will consist of a 235 room 5-star luxury hotel while the residences will offer 47 luxury apartments in various configurations. This will include 3 ballrooms, 7 meeting rooms and 3 restaurants. Scheduled to open in Q4 2018, the Fairmont Hotel will also offer a 1,400-seater conference facility, and a fitness & spa center. Last month, Fairmont also announced a 270-room hotel planned for Abuja.

Habor Point Lagos
Harbor Point Lagos

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