There are some born to do business; some born to live a luxurious life; and some to change society. However, there are some with all three qualities. Such people are rare. One of such rare personalities is Nigeria’s business mogul, Tony O. Elumelu. This serial investor, in the last two decades, has displayed an unmatchable success in business and super-rich lifestyle. As Chairman of Heirs Holdings, Elumelu’s influence has grown at rocket speed in recent years. In no time, both his Twitter and Instagram platforms have crossed 1.2 million and 866,000 followers: why not when you are living a life which is becoming an inspiration for millions? Elumelu is one super-rich guy who has owned everything with his skills and hard work.
The Delta State-born foremost banker knows where to invest and what time is best to invest and that quality has made him one of the wealthiest in Nigeria. However, sometime about 10 years ago, Elumelu’s effort to expand his investment frontiers with a prime real estate in Lagos suffered some hitches. Spotlight learnt that Elumelu had dreamt of turning the almost rundown Falomo Shopping Complex to a premium sky-high real estate but some relational issues cropped up leading to a cocktail of arbitration and compromises. During those difficult moments, rather than fight, the UBA Group Chairman took a step back to reflect, embrace dialogue and focus on a peaceful resolution rather than conflict.
In the end, a mutual transaction that is bigger and better than what was initially proposed a decade ago has given birth to a premium, iconic real estate to be known as Falomo Towers. Elumelu’s Afriland Properties has signed a joint redevelopment partnership with the Lagos State Development and Property Corporation (LSDPC) to deliver a contemporary mix-use development Falomo Towers with its ground breaking ceremony and flagging off the construction held last weekend.
And of course, Elumelu is already looking forward to the next three years when the landmark, Falomo Towers—a phenomenal urban renewal project that will bring back the lost ambience of ritzy Ikoyi, particularly restore the aesthetic landscape of Falomo and beautify the skyline of the commercial suburb of Ikoyi— will be commissioned.
