Landmark Africa, the company behind the renowned Landmark Beach Resort in Lagos, has announced plans to relocate its Nigerian headquarters and expand its operations into additional African countries. This strategic move comes in the aftermath of the April 2024 demolition of the Landmark Beach Resort, a significant setback that resulted in an estimated $80 million loss.
The demolition was part of the Lagos-Calabar coastal highway project, which led to the loss of the beachfront property. In response, CEO and founder Paul Onwuanibe revealed that the company intends to establish a presence in three other Nigerian states and extend its reach into two additional African countries.
While the specific locations for the new headquarters and expansion have not been disclosed, the company’s decision underscores its commitment to resilience and growth despite recent challenges. The expansion into new markets is expected to diversify Landmark Africa’s portfolio and mitigate risks associated with operating in a single location.
The demolition of the Landmark Beach Resort has had broader implications, causing some businesses to reconsider their investment plans in Nigeria or relocate to other jurisdictions within Africa.
Landmark Africa’s strategic relocation and expansion plans highlight the dynamic nature of the business environment in Nigeria and the broader African continent. As the company navigates these changes, it aims to continue delivering exceptional services and experiences in the hospitality and real estate sectors across its new and existing markets.
