ACA’s Real Estate Fund, CAPIC Has Exited Its Investment in Lekki Blue Water
ACA’s real estate fund, CAPIC (Capital Alliance Property Investment Company) has exited its investment in Lekki Blue Water, a multi-use 17-storey residential apartment complex situated in the heart of Lekki/Oniru’s thriving residential area of Lagos state.
The investment was made in partnership with El- ALAN, a property development company. The complex comprises 124 residential units and 2 commercial units and was developed to cater to the needs of Nigeria’s middle-class demography. The final concept includes commercial spaces, underground parking as well as a swimming pool, basketball and tennis courts, a children’s playground, and a recreational park.
Lekki Blue Water has been recognised for the sustainability of its design and its support to local industry. The development has contributed to alleviating the shortage of affordable housing in Nigeria and was constructed in compliance with green building standards which are integral to the real estate sector’s contribution towards a sustainable future.
The complex is certified by the IFC’s EDGE (Excellence in Design for Greater Efficiencies) program. According to the certification, the development saves 27% in energy consumption, 28% in water usage, 46% in construction materials, and 90% of the materials used were sourced locally.
#ACA #IFCEDGE #Sustainability #GreenBuildings
Laolu Alabi to speak at the 2024 PEVCA Conference
We are thrilled to announce that Laolu Alabi will be joining the panel of distinguished speakers at the 2nd Annual PEVCA Conference on February 28, 2024.
Along with others, Laolu will delve into the theme “Planning for Successful Exits and Performance”.
Aradel Holding confirms Shell acquisition deal
Aradel Holdings Plc (formerly NDEP), one of Nigeria’s major integrated indigenous energy Companies, listed on the NASD Exchange and the FMDQ, has confirmed its acquisition through Aradel Energy Limited of an equity interest in Shell Petroleum Development Company (SPDC) Limited, Nigeria.
According to the company, this acquisition is premised on the signing of a landmark transaction between Renaissance Africa Energy Company Limited, and Shell International PLC to acquire its 100 percent shareholding in the SPDC. Read more
Laser Light and WIOCC Sign $129M Partnership
Laser Light Companies and WIOCC, Africa’s digital backbone, have signed a five-year $129 million (USD) master services agreement. As part of the terms, Laser Light will contract with WIOCC for capacity on terrestrial and subsea cables in and around Africa and support services. In turn, WIOCC will use Laser Light for its global connectivity needs beyond its current network footprint and bring the Laser Light service portfolio to its African clients.
The agreement will commence upon initial operations of the Laser Light networking platform expected to begin at the end of 2023 with Africa being part of its Beta Program roll-out in partnership with Nokia announced in June.
NDEP PLC Unveils New Brand Identity, Becomes Aradel Holdings
Niger Delta Exploration & Production Plc (NDEP), a fully integrated energy company with interests in multiple oil and gas assets, has recently announced its rebranding as Aradel Holdings to better reflect its long-term strategy of becoming Africa’s leading organization in the delivery of sustainable energy solutions that support economic growth. The unveiling of the new brand identity took place on Friday, 4th August 2023, at an exclusive grand launch event.