Landmark Africa, the company behind the Landmark Beach Resort in Lagos, has announced plans to relocate its Nigerian headquarters following the demolition of its beach resort in April 2024. The demolition, carried out to make way for the Lagos-Calabar Coastal Highway, resulted in significant financial losses for the company, estimated between $80 million and $300 million.
In response to this setback, Landmark Africa’s CEO, Paul Onwuanibe, revealed the company’s strategy to expand its operations both within Nigeria and across the African continent. The expansion plan includes establishing a presence in three additional Nigerian states and entering two new African countries.
The demolition of the Landmark Beach Resort not only impacted the company financially but also affected over 1,000 employees and numerous small and medium-sized enterprises that operated within the resort. This event has prompted Landmark Africa to reassess its operational focus and explore opportunities beyond Lagos.
Landmark Africa has a diverse portfolio that includes the Landmark Towers, Hard Rock Café Lagos, and the Landmark Event Centre. The company’s decision to relocate its headquarters and expand into new markets reflects its commitment to resilience and growth despite recent challenges.
While the specific locations for the new headquarters and expansion have not been disclosed, the company’s strategic move indicates a significant shift in its operations, aiming to mitigate risks and capitalize on emerging opportunities within the African real estate and hospitality sectors.
