South African real estate firm,
Pinnacle Point Group Limited, has
indicated readiness to inject about N30
billion into the development of a
world-class golf estate m Badagry,
Lagos State.The company, which is the
largest golf and leisure estate
developer in South Africa and on the
African continent, intends to position
itself as a major global player in both
the golf and residential estate
development markets in the next five
years.
Actual and projected turnover of all
projects being executed by the
Pinnacle group across Africa currently
under management exceeds $6.6
billion.The group already has nine
other developments in South Africa
and recently announced that it is in
negotiation to develop and construct a
multi-million dollar luxury golf estate
in Lagos State.
The Lagos Keys development will
comprise 300 luxury homes, an
international golf course, a marina;
with boutique shops, a six star hotel
and conference facility and all iconic
Badagry Pyramid, which will be a
tower 18 storeys.The pyramid will
comprise of 45 million solar panels and
will supplement electrical power to the
project. The group is also to build one
of the world s most exclusive golf and
casino resorts on an island f in the
Indian Ocean off Mahe, Seychelles.
Pinnacle Point won the tender from
the Seychelles government against
tough international competition. The
project will be the largest investment
in the Seychelles leisure industry.The
group's flag ship development
Pinnacle Point Beach and Golf Resort,
on the east coast of South Africa,
comprises luxury residential homes,
golf lodges, villas, additional exclusive
properties situated on the 9Yster Bay
beach front enclave, and an 18 hole
international championship golf
course.
The resort has received numerous
awards and accolades, and the golf
course has been voted one of the Top
Ten Best New Golf Courses in the
World. The Pinnacle Point Group is
committed to the development and
management of all its properties to the
highest standards possible, in
accordance with a global trend
towards luxury lifestyle living. It is
equally committed to maintaining the
highest environmental standards
across all properties and to a policy of
responsible corporate social
Investment.
The company came about as a result of
the merger of the businesses of the
Pinnacle Point Holdings group of
companies and Acc-Ross Holdings
Limited. The merger was achieved
through the reverse take- over of Acc-
Rossby Pinnacle Point Holdings in
November 2008. The Pinnacle Point
Group is listed on the Johannesburg
Stock Exchange. Major shareholders of
the Company include South Africa's
leading bank ABSA and a Nigerian
consortium led by GMA.
Other key shareholders include a
major international property
development company in the UAE, who
have indicated their intention to
partner with the Pinnacle Point Group
in expanding the Group's footprint in
Africa and exploring the opportunities
for global expansion beyond the
African continent.
Tags:
Real Estate