Lauras Development Partners

SETTING THE STANDARD IN REAL ESTATE

LAURUS DEVELOPMENT PARTNERS

One Airport Square, Ghana 2 | Africa Outlook issue 81

CONSTRUCTION

Redefining

Development Laurus Development Partners is setting the standard in real estate development and management in Africa with its first-class team, strategic partners, successful track-record in project delivery and a highly progressive, impactful ethos Project Manager: Eddie Clinton

Africa Outlook issue 81 | 3

LAURUS DEVELOPMENT PARTNERS “Africa is probably the last true emerging market. One in four customers worldwide will be African in 10 years’ time, and estimates suggest that $1.6 billion in additional infrastructure investment will be required annually during this period to accommodate such growth.

“Existing built stock, in the main, is not appropriate in terms of quality or quantity in most asset classes. Yet with that as a backcloth, the opportunities here are rather amazing for development companies, particularly when compared to more established markets for which all needs are already relatively satisfied.”

For Peter Young, the opportunity to help address Africa’s growing infrastructure and new-build gap was something of a dream come true.

A love of real estate has seen him enjoy an illustrious career spanning more than 35 years to date, specialising in retail-led, large-scale, mixeduse development and regeneration.

Today he stands as the CEO of Laurus Development Partners – a leading West African property developer.

“Laurus has a great track record,” he explains.

“We develop high quality, efficiently designed, environmentally sustainable projects that deliver value to our investors, occupiers and communities.

We’re a full spectrum developer offering a holistic range of specialisms from preparing client briefs through master

One Airport Square, Ghana video

4 | Africa Outlook issue 81

planning, built design development, property marketing, leasing, sales and tendering to tenant coordination, AM&FM. “With a completed development portfolio valued at $1.2 billion, it is our goal to change how real estate development is undertaken in Africa.”

DEFINED BY FIRST CLASS DEVELOPMENTS Indeed, Laurus is already well on the way to achieving this ambition.

The company is currently in the process of introducing its Development Management Construction specialism, whereby the company will embed its construction teams within its overall design team and introduce potential constructability issues into initial designs.

“I am of the opinion that the highest risk related to development in this region is construction,” Young states.

“By ensuring the construction team are fully cognisant of the design, specifications, procurement and costs, we can reduce risk massively, and with no need to tender can save valuable programme time.”

Through this approach, it is hoping to improve both pre-construction and construction programmes, as well as deliver projects at more competitive, more certain final costs. It is consolidating as a one-stop shop provider – a hugely attractive value offering in the African market.

Urban Systems Design Urban Systems Design is a London based technical design practice, specialising in MEP and environmental design. We have extensive experience in international projects, from Europe to Africa, Asia, Middle East and Latin America.

How We Work We believe that the best buildings and places are made with a holistic approach where everyone has a voice from the start – clients, consultants, contractors, operators. As MEP and environmental designers, we contribute best value when we are appointed at the earliest stage of a project, thus integrating conceptual ideas into the architectural design from the start and developing these through various design stages right through to building operation.

All our projects are director-led to ensure the value of our experience is maintained throughout. Our team, which comprises engineers, architects, researchers, come from a rich variety of cultural and educational backgrounds, as we believe that diversity is a strength. We are focused on delivering futureproof infrastructure and buildings compliant with the client’s brief, aspirations as well as considering the future environmental agenda that could impact the development.

We have a collaborative partnership with clients operating in Africa.

Our business areas include: offices (One Airport Square, Accra, Ghana), telecoms infrastructure and data centres (for clients like Telkom SA SOC Ltd), commercial (Two Rivers Mall, Nairobi, Kenya), hotel and high-end residential (La Definition, Lagos, Nigeria for Total), sports and leisure, hotel, residential and retail (Twin Lakes, Lagos, Nigeria), retail (Jabi Lake Development, Abuja, Nigeria), application of renewable energies (e.g. research on waste-to-energy plants for Nigeria) and research on large-scale development of affordable, environmentally sustainable housing.

www.urbansystems.design

Urban Systems Design T: +44 (0)20 3790 8692 hello@urbansystems.design

MEP & Environmental Design

www.urbansystems.design

About Urban Systems Design Urban Systems Design (USD) is a London based technical design practice, specialising in MEP & Environmental Design, at both macro (masterplan) and micro (building) scales. The Directors of USD have extensive experience of working across various countries in Africa, including delivery and construction of projects in Ghana, Nigeria & Kenya.

Having designed and delivered across many countries in Africa, Europe, North & South America, Middle East and Asia, the international outreach of the business has given USD a great advantage in understanding both the challenges and opportunities offered by working in different cities and countries – context, climate and culture are fundamental design factors that must be understood when working internationally.

USD’s experience covers various business sectors – hospitality and leisure, data centres, large scale retail developments, cultural as well as commercial and residential projects.

Urban

Systems

Design

Microclimate analysis

MEP systems

LEED, BREEAM & WELL

Pedestrian comfort analyses

Renewable technologies

Circular Economy

Environmental masterplanning

Fire protection systems

Environmental design

Zero Carbon Strategies

Vertical transportation

Façade performance

MEP masterplanning

IT & AV systems

Building physics

One particular distinguishing feature of the business is how we integrate environmental design into day to day MEP engineering design. Every single project is considered environmentally, to maximise the potential of the project in delivering a sustainable design solution.

Designing out risk and considering self-sufficiency as operational autonomy also form an integral part of our design approach, in particular where local infrastructure is unreliable relative to particular demand – such as Data Centres.

As part of future proofing design and ensuring asset value retention, our design approach considers the future today; we share with our Clients options as to how they can secure their projects against future uncertainties, be they legislative or environmentally driven or purely from an investment perspective.

Masterplanning is another particular business expertise of USD, whereby our engagement covers both MEP/Utilities Infrastructure Design again coupled with the benefits of environmental design and renewable technologies.

One Airport Square, Accra, Ghana (Mario Cucinella Architects; 20,000m2; offices; MEP / Environmental – BDSP)

La Definition, Lagos, Nigeria (Architect: Benoy; 130,000m2; mixed-use hotel & residential; MEP / Environmental – CBDSP)

Jabi Lake Mall, Abuja, Nigeria (MDS Architecture; 31,500m2; retail; MEP / Environmental – BDSP)

LAURUS DEVELOPMENT PARTNERS “Many international corporates requiring new real estate developments, whether they’re in retail, hospitality or industrial, are looking for a one-stop shop solution,” Young adds. “They typically only want to deal with a single entity and provide a simple brief for, say, a grade A office building of ‘X’ square metres within budget of ‘Y’ USD. “They do not want to manage a team of 25 consultants, and there are not many players who will take on such a comprehensive development and construction delivery role. With our structure and expertise, we believe we are best suited for such a position.”

The company’s portfolio is reflective

of its esteemed value offering.

To date it has delivered a multitude of flagship projects across West Africa, its work on the Heritage Place office development standing as a prime such example.

“Heritage Place is the only LEED certified office building in Lagos, and one of few in the region,” the Chief Exec reveals. “Its features include rainwater harvesting, passive solar protection, enhanced indoor air quality, office recycling facilities and an efficient comfort cooling system.”

Architecturally, the building is a landmark development in the Nigerian capital, combining striking façade design with eight floors of high-end

CHANGING THE FACE OF REAL ESTATE Laurus Development Partners is striving to set new standards in a number of different markets across West Africa and beyond through the application of international design, delivery and management. These markets include, but are not limited to: RETAIL: Focussed on community malls with retail partners.

HOSPITALITY: Working closely with a hospitality partner, delivering in line with their brand and operational spec requirements.

TELECOMMUNICATIONS: Working with their framework telecoms partner, where Laurus acts as the development company delivering all development needs including retail, head office, regional offices, training centres, masts and data centres.

INFRASTRUCTURE: Working with an African conglomerate partner, focussed on deep sea ports, berthing, dry docks, aviation such as new airports, terminals and cargo facilities, all strategically supported by major logistical distribution and free trade zone hubs.

LEISURE AND ENTERTAINMENT: Working with an international multimedia partner to deliver a unique, flagship groundbreaking mixedused development named Arena that will include a retail mall, hospitality facilities and a conference/exhibition centre. Also working with a multiplex operator in delivering cinemas for Arena and other third party projects that will be some of the largest in Africa, offering a wide range of screen experiences.

RESIDENTIAL: Working with new technologies to meet demand for large-scale housing that is efficient, highly engineered, and sold at a competitive price point.

office space and five floors of parking space, plus meeting rooms, cafes and a reception.

Young himself has also delivered work internationally, including a mixeduse development in Feltham in the UK. The project comprised an ASDA supermarket superstore together with a strong retail line-up, a library, medical centre, residential and offices.

Another significant project completion was Cairo Festival City retail mall.

Young continues: “This at the time was the largest single built structuring building in Africa, standing at 326,000 square metres. The mall features a comprehensive mix of more than 310 shops including Egypt’s first IKEA, all served by 6,500 parking spaces.

“We worked with Al FuttaimCarillion and Orascom as joint contractors, and it’s truly a great illustration as to what can be achieved with sound collaboration between development companies and construction contractors, which is so important in Africa.”

Morgan Omonitan & Abe Ltd Morgan Omonitan & Abe Ltd, also known as MO&A, is an engineering and development consulting firm based in Nigeria.

The company has been operating since 1972, meaning it has almost 50 years’ experience in providing essential consultancy services such as civil and structural engineering, project management and independent expert services to the private and public sectors.

“Our mission is to provide innovative and enduring engineering design and development solutions to the built environment through imaginative lateral thinking to meet client and end-user needs.”

T +234 (0) 808 913 7683 E info@moanigeria.com www.moanigeria.com

6 | Africa Outlook issue 81

CONSTRUCTION

engineersHRW Civil and Structural Engineers Proudly supporting Laurus Ultima throughout Africa

Unit 10 Blue Lion Place 237 Long Lane London UK SE1 4PU +44 (0) 20 7407 9575 www.ehrw.co.uk

Engineering & Development Consulting

FIELDS OF EXPERTISE • • • • • •

Structural Engineering Designs Construction Management Transportation Planning Civil Engineering Designs Engineering Planning Project Management

241, Igbosere Road, P.O. Box 7121, Lagos, Nigeria T +234 (0) 808 913 7683 T +234 (0) 909 360 8794 E info@moanigeria.com

www.moanigeria.com

Africa Outlook issue 81 | 7

LAURUS DEVELOPMENT PARTNERS

How important are partner and supplier relationships to the success of your business?

PETER YOUNG: “One of the most important elements in delivering successful projects is achieving good professional team partnering and nurturing this. Laurus focusses on geocentrically located executive teams in Johannesburg and London, working to a more efficient structure and operation.

“The output is a faster, more efficient pre-construction design process. From our perspective, in addition to design speed, there is the additional benefit of reduced fee cost which can be translated back to the client as a project cost saving.

“We are also developing supplier partnering agreements for major build material procurement streams, and this has transpired to be very mutually beneficial.

The supplier gains by having a preferred supplier status; a good quality relationship and knowledge of pipeline projects they can input upon developing their order book. As Laurus, we gain from early supplier input, design support, pricing and improved warranty support.”

8 | Africa Outlook issue 81

Hertiage Place, Nigeria

PROVIDING EMPLOYMENT WITH PURPOSE By maintaining consistent quality across each of these projects, Laurus has garnered an unrivalled reputation, and with that reputation has become renowned as a leading soft-landing partner to international corporates looking to set up in Africa.

Beyond projects and its Development Construction Management plans, however, the company is also focussed on bolstering its offering by pursuing a number of alternative initiatives.

Currently it is in advanced discussions with investor funds regarding the facilitation of a local Naira denominated real estate development fund, one that would offer the opportunity Heritage Place,exchange Nigeria video risks in to reduce foreign Nigeria and deliver Naira-based leases which are available at more attractive rates to tenants.

Further, it is also looking to acquire incomplete projects or those needing more proactive development in order to increase investment value.

“This is strategic and offers Laurus the opportunity to secure good quality assets at reasonable pricing levels, often within a structure to deliver to the exiting investor a further opportunity to share in the increased value enhancement process,” Young comments.

“Marketing is also going to become an increasing focus for us. We have never previously undertaken any

marketing, our growth having been achieved simply by opportunity and proven project delivery, but we’ll be ramping this up moving forward.”

Beyond operational investment, Laurus’s workforce equally stands to benefit greatly from the company’s emphasis on continual improvement.

Not only has the company cultivated a family culture, it also makes daily strides to ensure that its staff are heading in the right direction when it comes to personal development, both locally and internationally.

“We are keen to ensure everyone has a good quality career path,” Young affirms. “We view ourselves as expats that empower the local workforce.

“We are here for the long term and want to give back wherever possible – I believe in performance being rewarded through bonuses and other packages.

“Our best quality staff are those who are originally local, but we have worked in established marketplaces and are now keen to bring that experience back home. Having a good combination of international expertise and experience as well as a good understanding of local customs is crucial.”

GRASPING THE OPPORTUNITY In the same light, Laurus likewise takes pride in a plethora of corporate social responsibility efforts.

Beyond the impact it makes with its developments, many of which feature LEED certification or other sustainability credentials, it is now looking to establish training academies on site at some of its major construction projects.

Young explains: “In the construction industry as an example, in Nigeria, there are no colleges or other training establishments for construction trade skills. With this proposal, Laurus would deliver the academic training and classroom facilities, and in turn the contractor has to buy into delivering supervised work experience on site.

“On a typical $100 million project we

CONSTRUCTION

Top: Jabi Lake Mall, Abuja, Nigeria Top right: Renaisance Tower Above: Douala Retail Park. Right: LaD3 Left: Telecoms Production Hub could provide fantastic real working exposure to some 300 youngsters and would look to take high performers through further accredited courses.”

The recent review of its construction processes is a second such initiative, Laurus now developing cold-rolled steel fabricated panels from hoardings that were previously discarded. These are then donated to assist in community development initiatives, such as the construction of libraries, schools and hospitals.

“In this way, not only are we making a financial profit for our clients, but we’re also able to leave behind a positive legacy to benefit local communities and other stakeholders,” Young adds.

Indeed, this will continue to be the primary objective underpinning

Laurus’s entire operation moving forward, the opportunity to further build upon this legacy being particularly promising.

The enterprise is currently holding discussions with several potential investors that could provide equity for its new development pipeline. And while there may be obstacles in this owing to uncertainty, the CEO remains optimistic as a result of the company’s already proven ability in helping to unlock Africa’s potential.

“Despite the risks and challenges we all face in real estate development, I remain confident about the future,” he states as our conversation comes to a close.

“There are huge opportunities in undertaking new developments – infrastructure, new commercial build

and residential – and the truth is we need more international developers, contractors and professional consultants.

“Likewise, we need more financial institutions to close the infrastructure gap and overcome the lack of funding, and we’re hopeful that West African governments will work towards creating an environment that is more investor friendly, offering incentives to new corporates to attract such players.”

LAURUS DEVELOPMENT PARTNERS Tel: +234 (0) 1 295 4892 www.laurusdp.com

Africa Outlook issue 81 | 9

LAURUS DEVELOPMENT PARTNERS Nigeria (Head Office) Laurus Development Partners Plot 5, Chief Yesuf Abiodun Way Off Ozumba Mbadiwe Road Victoria Island Lagos, Nigeria Tel: +234 (0) 1 295 4892 www.laurusdp.com

PRODUCED BY AFRICA OUTLOOK MAGAZINE