Investment Proposal. Landmark Group



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[COMPANY PROFILE] Company Profile

Transcription:

Investment Proposal Landmark Group

Landmark is an African focused real estate and serviced office business provider with established centres across 5 African countries. The Group specializes in the provision of international standard mixed use office, residential and leisure accommodation to major multinationals in the region. We offer a range of commercial real estate projects that will provide a platform for inward investors to trade successfully in one of Africa s most exciting growth economies. Our projects include The Landmark Ikeja which is the new Procter and Gamble Headquarters in Lagos; The Landmark Towers which will be the PriceWaterhouseCoopers Head Office in Victoria Island; The Landmark Village project will house various internationally branded restaurants and leisure facilities, including the Hard Rock Cafe Restaurant and Burger King; and The Landmark City is a 19 acre beach resort with strong business and lifestyle attractions currently in its conceptual stage. Our serviced office business has been operating for over 15 years and boasts offices in Dubai, London, New York, Lagos, Johannesburg, Accra and Nairobi. We intend to continue to grow its Africa wide serviced office platform over the next five years so that our foreign and domestic clients can continue to work seamlessly across the continent. Landmark is seeking institutional investors who share our vision of a dynamic Afrocentric property development and serviced office business, and can benefit from our exciting pipeline of projects. With our company currently valued in excess of US$200Million and a future value in excess of US$1Billion, we are seeking investments in the region of US$75Million to US$100Million to be disbursed as needed for our various projects over a five year period. Executive Summary 02

Project Pipeline 180,000sqm We have a vast amount of real estate in various stages of the development cycle, with approximately 40,000sqm currently under management and 50,000sqm under development. Business Locations 12 Our business now operates in 12 different locations with over 100 employees. We have a pan-african reach which will continue to grow over the next 5 years to over 20 locations across Africa. Clients 500 We have strong relationships with several international companies in our various sites across Africa, boasting 100 fixed clients and over 400 virtual clients. Valuation >$200,000,000 Expected returns in excess of 30%, with considerable opportunity for value increase. With an enterprise value of US$200Million, assets of over $150M and a terminal value in excess of $1Billion. Landmark Highlights 03

Landmark has consolidated all its affiliates and subsidiary companies to become an integrated property company. Landmark Africa Offshore Worldwide Landmark Holding Company Landmark Victoria Development Company Landmark Property Company Landmark Virtual Offices Landmark Serviced Office Company Landmark Ikeja Landmark City Landmark Village Landmark Towers Lagos Centres Nairobi Centres Accra Centres Johannesburg Centre London Centre New York Centre Business Structure 04

Directors Landmark is lead by seasoned professionals Pascal Dozie, Chairman Okechukwu Enelamah, Director Tony Onwu, Director Paul Onwuanibe, Chief Executive Officer Rajan Rosick, Director Randhirsingh Juddoo, Director The founder of Diamond Bank plc where he served as Chairman/Chief Executive Officer from 1991 to 2006. He is the current Chairman of MTN Nigeria, the largest Nigerian GSM operator since inception in 2001. He is a past member of the Board of Directors of the Central Bank of Nigeria and a past president of the Nigerian Stock Exchange. He currently servers as a board member for the Commonwealth Business Council, the Lagos Business School and African Capital Alliance, one of the pioneer Private Equity houses in Nigeria. The Chief Executive Officer of African Capital Alliance. ACA is the fund manager of Capital Alliance Private Equity, a private equity fund with over $500 million in commitments in West Africa. He has an MBA with high distinction (Baker Scholar) from the Harvard Business School and is a Chartered Financial Analyst. Okey sees his role as that of adding value to already proven management teams. He uses an in-depth understanding of finance; optimal sharing of risks and rewards; and sources of value creation to develop innovative and practical capital structures. Tony Onwu (Non Executive Director), with experience in Corporate Finance, Treasury/Market Risk Management, was Vice President Citibank Nigeria, Technical Adviser to the Director General/Presidential Adviser on Budget affairs in Nigeria, and is currently the Managing Director of Diamond Capital, the investment banking subsidiary of one of the Country s leading commercial banks. Tony is a senior Partner of Nima Capital a boutique investment and advisory firm and Executive Director of Kimberly Ryan a Human Resources organisation with a Pan African presence. Paul began his career in the built environment with a formal education in Architecture, Property Development and Construction Management, together with a London Business School MBA with a merit in Value Engineering. Paul has over 20 years in the professional experience of design and execution of projects in Africa, USA and Europe. He served as Development Director with Beacon Housing, in UK. Paul was the Executive with responsibility for the Property and Logistics team of Regus Plc during its rapid expansion years, which oversaw the opening of 190 business centres globally. Rajan holds a BSC (Hons) in Accounting from the University of Mauritius and is a Fellow Chartered Certified Accountant from the UK. He has worked in the Financial Services sector for the past ten years. After completing his accounting articles at Pricewaterhouse- Coopers, Rajan joined one of the largest Fund Administrators in Mauritius. Rajan joined Trident Trust Mauritius as Head of Fund Administration and now heads the new business department. Rajan also serves as a Director on the board of some of the largest Africa development funds which are administered by Trident Mauritius. Randhir holds a BSc (Hons) in Management from the University of Kent, Canterbury and an MBA from Heriot-Watt University, Edinburgh. Randhir began his career in Financial Services in 1996. He was part of the original team when Trident Trust and has headed the office since July 2002. Randhir serves as a Director on the boards of some of the largest Africa development funds administered by Trident s Mauritius office. The promoters of these funds include the World Bank s International Finance Corporation, the European Investment Bank, the African Development Bank, FMO and BIO. Executive Management Team Nigel Horner, Property Director Funlola Enelamah, Country Manager Adaobi Nwanze, Company Secretary Olumuyiwa Oke, Head, Research & Strategy Deborah Nicol, Group Head, Corporate Finance Gene Redelinghuys, Group Sales and Marketing Manager 05

1997 2001 Founded Landmark and commenced operations in London Expanded into Frankfurt, New York, Madrid & Brussels 2003 2007 Entered the African market with first office in Lagos, Nigeria.Withdrew from European offices Africa expansion into Johannesburg, Accra and Nairobi. Strategic real estate acquisition 2009 2010 Commenced event centre operations and established group structure Commenced real estate developments with Landmark Ikeja 2012 2015 Commenced the developments of Landmark Village and Landmark Towers Complete Landmark Village Phase1, Landmark Towers and Landmark Ikeja.12 Centres in Operation Growth History 2018 Complete Landmark Village Phase 2-5, Landmark City. 20 Centres in Operation 06

New York London Dubai Nairobi Accra Mauritius Global Presence Lagos Johannesburg Kampala 07

The Landmark Group maintains strategic relationships with some of the world s largest and most successful companies. We are the preferred partner for various multi-national Fortune500 corporations, servicing their office and space requirements across more than one country within our Africa network. Part of our success is also due to our relationships with key agents in Europe and the United States of America sourcing office space for clients within Africa. Landmark believes in building strong and lasting relationships to ensure continued business growth across the globe. Strategic Relationships In the last 5 years we have been the African home to these companies 08

Serviced Office Business 09

Over the past 15 years, Landmark has established serviced office businesses in London, New York, Lagos, Accra, Nairobi, and Johannesburg. Serviced offices are one of the fastest growing sectors in the commercial property market, and the African markets have seen some of the most exciting growth over the past few years. With 8 centres across the world, and expansion plans for 20 more by 2017, Landmark continues to build a strong global brand and client network. Our value proposition is our ability to provide a global affiliated network of centres that offer collective benefits to our clients. Our Centres are located in prestigious CBD properties and adhere to a minimum standard of quality along with superior levels of customer service. Our flagship product is our fixed workstations which provides an instant workspace for as little as 1 to 50 individuals for a period of a month, a year or even longer. They provide minimal set up and exit costs to our clients, and companies can expand or contract as and when needed. Our serviced offices are ideal for requirements for overflow space, swing space during refurbishment, project space, short-term expansion, new business start-ups, new market entries, satellite offices and mobile workforces. Mulliner Tower Location: Ikoyi, Lagos, Nigeria Opened: 2009 Capacity: 150 workstations Rate: $1,500 per workstation Africa-Reinsurance Building Location: Victoria Island, Lagos, Nigeria Opened: 2000 Capacity: 125 workstations Rate: $1,200 per workstation Laiboni Location: Kilimani, Nairobi, Kenya Opened: 2008 Capacity: 60 workstations Rate: $700 per workstation Riverside Location: Riveside, Nairobi, Kenya Opened: 2012 Capacity: 40 workstations Rate: $700 per workstation GNAT Building Location: Accra, Ghana Opened: 2009 Capacity: 70 workstations Rate: $1,300 per workstation The Place Location: Johannesburg, South Africa Opened: 2007 Capacity: 95 workstations Rate: $800 per workstation Serviced Offices Landmark House Location: Mayfair, London, UK Opened: 2007 Capacity: 30 workstations Rate: $1,000 per workstation Barkly Wharf Location: Port Louis, Mauritius Opened: N/A Capacity: N/A Rate: N/A 010

With over 650 workstations worldwide, Landmark boasts a strong client mix, with clients from a wide range of industries and geographical locations. Despite our strong presence in Africa, over 80% of our client base are non-african organisations establishing in the Africa. Client Geographical Spread America Europe Africa Australia Asia 45% 22% 17% 11% 5% Client Industry Sector 41% 24% 21% 4% IT Business Services Financial Services Retail/Leisure 4% 4% 1% Manufacturing Others Transport & Logistics Client Scale of Opearation Multinatinal 65% Client Statistics National 21% Pan Africa 10% Regional 11% Local 1% 011

Following extensive research, Landmark intend to open 20 new centres to widen our African network over the next 5 years. This will create a platform for the group to expand our brand recognition across the region and broaden our product and services offerings. Centres* 27 Workstations* 2,500 Monthly Revenue* $2,500,000 * by the year 2018 Where we will be by 2018 New Serviced Office Roll-out Nigeria Ghana Kenya South Africa Mauritius Burkina Fsao Gabon Sierra Leone Egypt Algeria Chad Morroco Tunisia Ethiopia Rwanda Uganda Tanzania DRC Congo Zambia Equitorial Guines Angola 012

Potential Enterprise Value $300,000,000 Set-up Cost $500,000 Workstation Rate $1,000 No. of Workstations 2,500 Centre Size 500sqm Each new serviced office requires approximately $500K to $750K set up capital for fit-out, operations and rent in the first year. Our target average workstation rate is $1,000 per workstation (desk and chair) per month. Actual workstation rates range between $600 - $1,750 across the various African countries in which we operate. Landmark intends to increase our workstation capacity from 650 to 2,500 workstations over the next 5 years providing an average monthly revenue potential of $2,500,000 Our target size for each new centre is between 500sqm to 800sqm, with each centre offering approximately 60 to 100 workstations. New Serviced Office Unit Economics 013

Property Development Business 014

The Landmark Group has a portfolio of real estate developments in Nigeria Landmark and its project team have extensive technical knowledge of the real estate sector and significant experience in managing and delivering large-scale projects in Africa. Recognizing the need to address the requirements of our growing international clientele in Lagos, Landmark developed the Live.Work.Play concept. This concept provides for Grade A office, residential, retail and leisure facilities, all within one secure location. Landmark Ikeja Landmark Towers Project Value Exit Value $20,000,000 $35,000,000 Location: Ikeja GRA, Lagos, Nigeria Size: 4,500 sqm Type: Grade A Office and Retail Tenants: Procter & Gamble (Anchor) Spur Steak Ranches, Stanbic IBTC Occupancy: 90% Annual Rent: US$2,000,000 Project Value Exit Value $85,000,000 $136,000,000 Location: Victoria Island, Lagos, Nigeria Size: 20,000 sqm Type: Office, Retail and Leisure Tenants: PwC Limited (Anchor) Diamond Bank, Spur Steak Ranches Occupancy: 80% Annual Rent: US$8,500,000 Total Project Value $212,000,000 Potential Exit Value* $736,000,000 * by the year 2018 Landmark Village Phase 1 Project Value Exit Value $55,000,000 $95,000,000 Location: Victoria Island, Lagos, Nigeria Size: 8,000 sqm Type: Retail, Hospitality and Leisure Tenants: Hard Rock Cafe, Landmark Burger King Occupancy: 80% Annual Rent: US$20,000,000 Projects within our portfolio Landmark Village Phase 2-4 Landmark City Phase 1 Project Value Exit Value $40,000,000 $350,000,000 Location: Victoria Island, Lagos, Nigeria Size: 100,000 sqm Type: Office, Residential and Leisure Tenants: TBA Occupancy: 0% Project concept under development Land Value Exit Value $12,000,000 $120,000,000 Location: Lekki, Lagos, Nigeria Size: 80,000 sqm Type: Residential, Hotel Resort, Retail, Office Tenants: TBA Project concept under development 015

Sites 2 Landmark has identified 2 prime sites within the new Lekki Free Trade zone near the new Airport which it intends to acquire as part of our continuous land banking strategy. Cost $6,000,000 The purchase prices have been negotiated, and the cost of $3M per site includes land registration and legal costs. The sites have been surveyed and risk assessed to confirm suitability for acquisition. Size 100,000sqm Landmark intends to utilize the sites for the development of mixed use facilities, using our Landmark Village site as a benchmark for future developments. Timeline 12 months We have a target of 12 months to acquire and finalise the title registration on the new sites to be acquired. Land Banking 016

Landmark has established a successful Events Centre business using a temporary marquee on the Landmark Village Site. The Event Centre has been in operation and a going concern for 4 years and hosted several high class events for clients such as Etisalat, Standard Chartered Bank, Stanbic IBTC Bank, Diamond Bank, Oando, MTN, amongst others. We are now embarking on making this events centre a permanent state of the art structure which is currently under construction as part of Phase 1 of the Landmark Village development. Seating 3,500 Events 250 Revenues $1.5M Hire Fee $15,000 The new Convention Centre will seat up to 3,500 guests theatre style or 2,000 guests banquet style. The old centre had half this capacity. Since operations began in 2009, the Landmark Events Centre has hosted over 250 events. Over the past 3 years, the Events Centre has enjoyed revenues in excess of $1,500,000. The average cost of hiring the Events Centre is $15,000 per event. The new centre will command a fee of approximately $25,000 per event. Landmark Events Centre 017

Landmark Research 018

Formally an in-house department, the Landmark Research division has over the past 12 to 18 months developed into a strong player in the provision of independent market studies on the African real estate sector. We execute our research engagements in strict accordance to client briefs and provide objective consulting services where required. Our expertise originates from our global presence and perspective, coupled with practical market knowledge through the completion of various engagements and experience in several African markets. Years of Data 9 Over the past 9 years, Landmark has gathered a comprehensive database of African real estate industry market intelligence. Analysts 5 Our team of research professionals are experienced in providing real estate consulting services, reporting and analytical capabilities. External Mandates 8 Landmark Research has provided objective and independent market studies and trends analysis to a wide variety of external clients over the past 12 months. Landmark Reaseach 019

Funding 020

Landmark s total enterprise value $221,750,000 Interest Provision* $5,000,000 Settlement Provision* $7,250,000 Shareholder Loan* $10,000,000 Serviced Office $32,000,000 Property Company $212,000,000 Current Project Value Future Exit Value* * Shareholder Loan of $10,000,000 in 2009 to Worldwide Landmark Holding Company Limited for the purpose of capitalising the business by funding the various real estate and serviced office roll-out projects. $20,000,000 $85,000,000 Landmark Ikeja Landmark Towers $35,000,000 $136,000,000 *Interest Provision is an allowance for loan payments that may be come due. *Settlement Provision is an allowance that relates to an investment Fidelity Bank has within the property company and the regulatory environment has asked them to exit. $55,000,000 $40,000,000 Landmark Village Phase 1 Landmark Village Phase 2-4 $95,000,000 $350,000,000 $12,000,000 Landmark City Phase 1 $120,000,000 Group Valuation $32,000,000 Total Future Exit Value Landmark Serviced Office $1,036,000,000 $300,000,000 * by the year 2018 021

Total amount of funding needed $100,250,000 Use of Funding Timing Serviced Office Roll-out $10,000,000 Landmark Ikeja $5,000,000 Landmark Village Phase 1 $6,000,000 Landmark Village Subsequent Phases $40,000,000 Landmark City Phase 1 $10,000,000 Land Banking $6,000,000 Shareholder Loan Repayment $10,000,000 2013-2017 2013 2013 2013-2016 2013-2015 2013 2013 Use of Funding Research and Development $1,000,000 Settlement and Interest Provision $12,250,000 2013 2013 022

An investment into Landmark is an opportunity to play in the serviced office and real estate development sector in one of the most exciting growth economies based on strong revenues from some of the world s Fortune 500 companies. Pipeline of Projects Landmark has a growing pipeline of serviced office expansion and real estate development projects which will allow us to bring our specialized skills to create an innovative and highly profitable mixed use concept that is relatively new to the African market. The Live.Work.Play concept offers Grade A office space, up-market residential accommodation and leisure activity within a single secure location providing very strong commercial and lifestyle attractions in the dynamic and energetic cities in which we chose to operate. Reputable Sponsors Landmark has significant experience in the African market and in executing transactions, with a reputation for unsullied integrity. Our international project management team employed to execute our projects have extensive technical knowledge of the commercial real estate sector and significant experience in managing and delivering largescale projects in Africa. Attractive potential upside Expected returns in excess of 30%, and a combination of projects with a combined estimated value of approximately US$300Million. Experienced staff Our strength and competitive advantage lies with our people. The company is led by seasoned professionals with combined experience of over 70 years in their various fields. Our executive management team have worked across several regions, including Africa, Middle East, United Kingdom, Europe and the United States. Current Valuation (Enterprise Value) $221,750,000 Future Valuation (Exit Value)* $1 Billion Current Locations Current Space under Management 12 8,000sqm Future Locations* Future Space under Management* 30 65,000sqm * by the year 2018 Summary 023

Appendix 024

Landmark Ikeja is the new Procter & Gamble administrative headquarters in Lagos, located at 52-54 Isaac John Street, GRA Ikeja, Lagos The twin office towers is developed on 3,500qm of land and boasts 4,000sqm of net lettable space. The project comprises a basement level for underground parking, while levels 1 to 4 are dedicated for office use. Landmark Ikeja is being developed by Landmark Partners Network Limited, a special purpose vehicle whose stakeholders comprise Fredliz Estates Ltd (60%) and Landmark (40%). Future Value* $35,000,000 * by the year 2018 Project Cost $9,000,000 Project is financed by a combination of debt and sponsor equity, with Stanbic IBTC Bank Plc providing the debt finance. Project Value $20,000,000 The project will generate annual rent revenues of $2Million a year and boasts an IRR of 30%. Completion 70% The project is on track to be completed in June 2013. Occupancy 90% Capital Requirement $5,000,000 Landmark Ikeja Anchor Tenant, P&G is leasing 2500sqm at $450 per sqm on a 10 year lease. Spur Steak Ranches is leasing 1000sqm of space at $300 per sqm on a 5 year lease. To be used to repay existing Stanbic IBTC loan of N775Million taken out in April 2012 over a 66 month tenor. 025

Landmark Towers is a mixed use development located on an 8000sqm site overlooking the Atlantic Ocean in Victoria Island, Lagos. The project is a 10 storey building and 2 floor leisure annex with the following features: 19,000sqm gross build area 1,500sqm of convenience retail space 22 Luxury hotel style studio apartments 8,500 sqm of gross office space over 6 floors 3,000sqm of leisure complex with pool 150 secure parking spaces The shareholders of the project are Landmark (70%) and Maven Manor Limited (30%). Future Value* $136,000,000 * by the year 2018 Project Cost $40,000,000 Project is financed by a 50:50 combination of debt and sponsor equity, with Diamond Bank providing debt finance of N3billion with draws commencing in September 2012. Project Value $85,000,000 The project will generate annual rent revenues of $8.5Million a year and boasts an IRR of 27%. Completion 20% Occupancy 83% Landmark Towers Foundation works are complete and construction of superstructure has commenced. The project is on track to be completed by July 2014. PriceWaterhouseCoopers Ltd is the anchor tenant, occupying 4,500sqm of office space at $750 per sqm on a 10 year lease. Other tenants include Diamond Bank, Spur Steak Ranches, and Neo Cafe. 026

Size 38,000sqm The Landmark Village is a mixed use, state-of-the-art development on a 38,000sqm site along the Atlantic Ocean waterfront in Victoria Island, Lagos. The project will include 5 individual 9 storey towers and will fully embody Landmark s Live.Work.Play concept. The project is designed to be the first Lagos equivalent of The Rockefeller Centre in New York, Canary Wharf in London, Melrose Arch in Johannesburg and Victoria & Alfred Waterfront in Cape Town. The Landmark Village will consist of: Landmark Village 2 x Grade A Office Towers 2 x Executive Residential Apartment Blocks A 250 room 4-5 Star Hotel A Helipad with on-demand Airport Shuttles Extensive Leisure and Recreational Facilities A State of the Art Convention Centre Internationally branded restaurant chains Executive and Convenience Retail Outlets A prominent supermarket chain Over 1000 Parking Spaces 027

The first of the Landmark Village is the development of the southern part of the site along the 300 linear meters of beachfront which will accommodate the Hard Rock Café, Burger King, Virgin Active, Urban Golf and Shiro Japanese Restaurants, a children s soft play area and the Convention Centre, on 8000sqm of the site. This Phase is estimated for completion by September 2013. Future Value* $95,000,000 * by the year 2018 Landmark Village Phase 1 Project Cost $20,000,000 Landmark has invested approximately $10Million into this phase of the Landmark Village development with a further $6,000,000 required to complete the development. Completion 5% Sub-structure works have commenced on site and the estimated completion date for the pre-fabricated steel structures is September 2013. Project Value $55,000,000 The 5 highly profitable schemes within this phase of the Landmark Village are valued at US$70Million, with annual rent revenues starting from $530,000. Occupancy 100% The scheme is fully subscribed with 3 internationally renowned restaurant chains and Landmark s established Events Centre business occupying the buildings. 028

Start date 2014 Construction of the 250 room hotel is planned to commence in late 2013. Capital Requirement $30,000,000 The capital required will cover construction hard costs for the 10 storey development. Landmark Village Phase 2 Project Cost $40,000,000 The total development cost is estimated at $35M and Landmarks equity of $10m will cover the predevelopment costs. Completion Timeline 24 months Phase 2 of the Landmark Village development will accommodate a 10 storey international branded hotel facility with a gross build area of approximately 20,000sqm. The hotel management team will be engaged prior to construction commencement to ensure appropriate quality and brand management throughout. Facilities within the hotel will include a range of high quality standard and deluxe rooms, a cocktail bar, 24 Hour Brasserie, Wellness Centre, swimming pool, and a helicopter pad on the roof of the hotel allows for private VIP access and regular airport shuttles. Construction timeframe of 24 months is anticipated. 029

Residential Towers The residential towers will be built in Phase 3 of the Landmark Village development. The 9 storey twin towers will offer 102 luxury serviced apartments over approximately 50,000sqm of space. Each tower will contain 6 3-bedroom apartments per floor on floors 1-8, and 3 spacious 4-bedroom penthouse apartments on Floors 9. The apartments will be available for both lease and for sale. Construction to commence in 2014 over a 24 month period. Project Cost $50,000,000 Capital Requirement $35,000,000 Sales Revenues $30,000,000 Annual Rent Roll $2,000,000 Landmark Village Phase 3 & 4 Office Towers The office towers will be the 4th phase of the Landmark Village development. These 2 Grade A office towers will offer 40,000sqm of office space over 10 floors, 500 parking bays (including underground parking), convenience retail space on Ground Floors, and a net lettable area of up to 15,00sqm. Estimated timelines for the construction of the two towers is 24 28 months and this is due to commence in late 2014 or as soon as a suitable anchor tenant has been secured. Project Cost $55,000,000 Capital Requirement $40,000,000 Annual Rent Roll $20,000,000 030

Date Acquired 2009 Size 80,000sqm Capital Requirement $10,000,000 The Landmark City development is a US$12Million plot of undeveloped land spanning across 80,000sqm (8 hectares) with over half a mile of beachfront. The site was acquired by Landmark in 2009 as part of our continuous land banking strategy. The project is located approximately 15 miles down the coast from the Landmark Village and 3 miles from Alpha Beach. It is on the same stretch of road as the new US$1B Chevron City development and the MTN sub-base station. Landmark City The development is currently in the conceptual stage with a number of potential uses. The entire project will be built in several phases and will include a beach front hotel resort, a mini residential estate, a retail strip with a high end shopping mall and international branded convenience stores, office accommodation, leisure and entertainment facilities. The first phase of the mixed use Landmark City development is intended to be the large hotel resort along the beachfront. In the meantime, a capital investment of up to $10,000,000 is required to commence work on developing the services at the site. 031

Luxury Beachfront Hotel Resort A world class hotel facility with 800 meters of sandy beach along the Atlantic Ocean waterfront. Exquisite, spacious and comfortable villas and luxury suites; this exclusive beach resort will accommodate over 500 rooms and will be the first of its kind within Lagos.An array of leisure activities including swimming, tennis, mini golf, football, gymnasium, sauna and spa. Private Residential Estate A residential estate with 3 to 5 bedroom stylish apartments and townhouses designed for the modern lifestyle. High quality specifications, stunning views, and private access. Access to the beach, fully equipped kitchen, ample parking, exceptional leisure and retail facilities. Apartments and Townhouses will be available for sale and lease. Global Retail Experience With a combination of high-end international and local retail outlets and convenience stores, the Landmark City will provide residents and visitors with a fantastic retail experience. A safe and secure high street concept with various popular internationally branded stores, restaurants chains and underground parking. Leisure And Entertainment From large screen movie theatres to mini-golf courses, kids clubs to tennis courts, the Landmark City will provide a wide range of leisure and entertainment facilities for all ages. Access to the beach for jet-skiing, surfing, quad bike riding and other beach activities. Ultra modern facilities all within one secure location Landmark City 032

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For enquiries please contact: Paul Onwuanibe Group CEO E: paul@landmark-offices.com Deborah Nicol Group Head Corporate Finance E: deborah.nicol@landmarkoffice.com Landmark Group London 17 Hanover Square, Mayfair, London, W1S 1HU, UK. T: +44 207 529 1400 Mauritius 5th Floor, Barkly Wharf, Le Caudan Waterfront, Port Louis, Republic of Mauritius. Lagos 5th Floor, Mulliner Towers, Alfred Rewane Road, Ikoyi, Lagos, Nigeria. T: +234 1 463 8331 www.landmarkafrica.com