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Many hope that urban renewal projects like the Eko Atlantic will bring more investment opportunities to the city.
CNN: Lagos of the future: Megacity's ambitious plans
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"This is a city for the 21st century, we are not using an old model, " says David Frame, managing director of Eko Atlantic.
CNN: Lagos of the future: Megacity's ambitious plans
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It appointed the unit's operations head, Eko Budianto, to be its new overall director, and also hired Tony Redman of the mining giant Anglo American as a technical advisor.
BBC: Bumi board fights Rothschild plan
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But perhaps the most impressive project for the Lagos of tomorrow is no other than the Eko Atlantic, a pioneering residential and business development located on the Victoria Island, along its upmarket Bar Beach coastline.
CNN: Lagos of the future: Megacity's ambitious plans
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The Rockefeller Foundation has also backed projects such as the NatLab, a collaboration of National Resources Defense Council, The Nature Conservancy, and Eko Asset Management Partners, that is designing new financing products for GI.
FORBES: Smart Communities will Build Green Infrastructure