The competition is sponsored by Citigroup in partnership with the Urban Land Institute. It recognises places where people, passion and ingenuity are shaping efforts to build sustainable and liveable cities.
“The Urban Land Institute used selected criteria to identify the initial 200 most innovative cities. The list was then narrowed down to 25 cities after an online vote by the general public and readers of the Wall Street Journal,” De Lille said.
This futuristic city will be everything that Lagos is not; possessing world-class transport systems, open spaces, efficient sewage systems and uninterrupted electricity. Development plans include shopping malls, skyscrapers and marinas, with a strong focus on sustainability and the use of eco-friendly materials and technologies. Eko Atlantic will enhance the status of Lagos and create a new and stronger financial hub for the whole of West Africa.
The development brings together private individuals and companies who have the knowledge and expertise to transform land lost to the power of the sea into an ocean city that will be one of the wonders of the 21st century.
The multibillion-dollar investment is provided solely by private investors. Those already on board include local and international banks – First Bank, FCMB and GT Bank in Nigeria, BNP Paribas Fortis, and KBC bank – as well as a growing number of private investors.
The development will boast of “The Great Wall of Lagos” – a seven kilometer-long barricade – which is under construction to stop the sea eroding the shoreline. It is made from tens of thousands of concrete blocks (accropodes) weighing 5 tons each which interlock loosely to form an effective barrier that dispels the force of the waves and provides the primary armoured sea defence. Beneath the accropodes are various layers of rock that function as the secondary armour and core.
P.S. Voting on the most innovative city will continue until December 31, 2012 to determine the winning city, which will be announced in the Wall Street Journal Magazine early next year. People can cast their votes online at www.wsj.com/ad/cityoftheyear