Landmark Group Secures Waterfront Property In Port Harcourt

Landmark Group has secured waterfront land in Port Harcourt, in partnership with the Rivers State Government, to redevelop the once-popular Port Harcourt Tourist Beach into a world-class leisure, hospitality, and tourism destination.

The disclosure, made in a statement by Elsie Ogianyo, Brand and Corporate Communications Manager for Landmark Group, came days after CEO Paul Onwuanibe announced the company’s expansion into two African countries, three Nigerian states, and relocation of its headquarters from Lagos.

“The Landmark Group has secured a waterfront land in Port Harcourt, in partnership with the Rivers State Government to undertake the redevelopment of the once popular Port Harcourt Tourist Beach into a world-class leisure, hospitality, and tourism destination,” the statement read in part.

The statement noted that Onwuanibe expressed excitement about the project, emphasizing Landmark Group’s commitment to creating unforgettable leisure experiences in Port Harcourt.

“We are excited to create unmatchable and unforgettable leisure experiences in Port Harcourt by bringing our international expertise in providing services and local expertise from Lagos in providing waterfront leisure experiences,” he said. 

The project is expected to have a far-reaching impact on the local economy, creating both direct and indirect employment, fostering the growth of small and medium-sized enterprises (SMEs), and enhancing the local supply chain.Additionally, it will contribute to generating diversified internally generated revenue (IGR) for Rivers State, boosting the region’s economic development.The statement further noted that the Landmark Port Harcourt Leisure Resort will be the first of several prime tourism destinations that Landmark Group plans to develop across West Africa, with half of these located in Nigeria.

The company’s broader vision is to establish a network of iconic leisure destinations throughout the region, thus promoting intra-Africa tourism and showcasing the region’s untapped tourism potential.

What you should know  

Nairametrics earlier reported that Landmark Africa, the company behind Landmark Beach Resort in Lagos, plans to relocate its Nigerian headquarters and expand operations into two other African countries and three Nigerian states, as disclosed by CEO Paul Onwuanibe.

This move follows the April 2024 demolition of the Landmark Beach Resort, which Onwuanibe revealed resulted in an estimated loss of $80 million. He cited the setback as a catalyst for the company’s diversification strategy.Onwuanibe disclosed that Landmark Africa received interest from governors in 12 states across Nigeria, with three selected for new ventures after a six-month evaluation. The company is also moving its entire events and tourism platform out of Nigeria, as Onwuanibe revealed.Despite the demolition, Onwuanibe disclosed that Landmark Africa has not received compensation, although other affected properties have. He also criticized changes to the Coastal Road’s planned route, which had originally been planned in front of the resort.

Onwuanibe highlighted that Landmark Africa contributed over N10 billion in taxes in the previous year, emphasizing the company’s importance to the local economy.

Source:- Nairametrics

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