LAURUS DEVELOPMENT PARTNERS

LAU RUS DE V E LO P M EN T PA R T N E R S

Aesthetically, socially, and functionally-relevant development www.laurusdp.com

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WEST AFRICA’S

Sustainable

PIONEER

One Airport Square is Laurus’ most iconic project so far

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Laurus Development Partners is leveraging a strong ownership mentality under the guidance of industry specialist, Actis in completing some of Nigeria and Ghana’s most iconic modern constructs Writer: Matthew Staff Project Manager: Stuart Parker

aurus Development Partners is realising its ambitions of introducing international standard, sustainable projects to Ghana and Nigeria, just five years into its exciting tenure in the region.

The property development Company is a brainchild of private equity Group, Actis and Chief Executive Officer (CEO), Carlo Matta, set up in 2009 to address the lack of execution capabilities on the ground, as well as to support the former’s investment strategy across the two countries.

Less than six years on and Laurus is already close to managing $400 million developments on Actis’ behalf, having completed its first office project, and beginning work on a further two moving into late 2015 and beyond.

Matta recalls: “Laurus is the result of a meeting of minds and alignment of goals and vision between Actis, me and

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a handful of property professionals who are part of my team.

“I was fascinated by the changes and transformations West Africa had been going through since 2000; urbanisation, the emergence of middle-class, political stability and growth. I wanted to be part of it.

I thought that the partnership with a strong player like Actis would give us the opportunity to make a difference and to work on exceptional projects, and this has been the case. In 2010 I moved to Ghana and started building the team.”

Pulling together repatriates and expatriates among both local and overseas markets, the “exciting ride” that has subsequently ensued has proved every bit as successful as Matta hoped, not only in creating a diverse and extensive service proposition, but in engraining itself both into Actis’ and other third party investors’ own development ambitions.

Green Stars

CERTIFICATION One Airport Square is Ghana’s most advanced development through the use of world-class construction

World-class construction

The reason for Laurus’ appeal as a partner on such high profile projects largely stems from the comprehensive portfolio of services brought to the party; allowing the Company to remain flexible and entrepreneurial in offering customisable solutions, tailored to the demands of each construct.

This model has consequently resulted in the four main projects undertaken to date, spread across both Nigeria and Ghana’s key urban hubs, and emphasising the extent of Laurus’ capabilities to work on vast, complex developments.

Alongside the mixed-use office, hotel, retail and residential complex - the Exchange in Accra, Ghana - the Company’s most iconic project so far is its only completed one, in the form of One Airport Square, also situated in Ghana’s capital.

“One Airport Square is a Class A office development situated in Accra’s Airport City, the newest commercial and retail area, a few minutes’ walk from the most important venues in the city,” Matta explains. “The building comprises nine floors, 18,000 square metres of office space and 1,500 square metres of retail space.

“One Airport Square is one of the city’s most prominent design landmarks boasting the highest level of health and safety standard and has attracted blue-chip tenants such as Nestle and Puma Energy.”

The Actis-Myma Belo Osagie joint venture has benefitted from Laurus’

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CA CONSULTANTS LIMITED

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A CONSULTANTS LIMITED is an ISO 9001:2008 Certified Independent Limited Liability Company of Consulting Engineers founded in 1987. It is a multi-disciplinary company consisting of Mechanical, Electrical and Piping (MEP) Engineers.

With a head office in Lagos and a branch office in Abuja, Nigeria, the company has provided Mechanical and Electrical Engineering design and supervision services for the construction of commercial, recreational and residential structures in order to create functional buildings.

Being the first Nigerian MEP organisation to acquire the ISO 9001:2008 quality management certificate, the company raised the standards for MEP organisations in Nigeria.

Services > Opportunity sourcing, evaluation and underwriting > Feasibility and economic analysis > Budget development and administration > Project concept and design management > Project due diligence > Land assembly and acquisition > Deal structuring > Securing financing (both equity and debt) > Government approval coordination > Scheduling > Tendering and construction management > Marketing, leasing and sale > Tenant construction management > Accounting/control/reporting

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View of the internal atrium at One Airport Square

expertise in achieving Green Stars certification and in becoming Ghana’s most advanced development through the use of world-class construction techniques and finishes.

Moving into Nigeria, Matta continues: “Heritage Place is another Class A office development, situated in Lagos’s prime commercial and retail area of Ikoyi.

“The Project is the first green certified commercial building in the city and has achieved LEED accreditation.

Heritage place is Nigeria’s most advanced development and is rapidly becoming a landmark development; comprising 16,000 square metres of office space over eight floors, a doubleheight reception, a meeting and dining area, and more than 350 private car parking spaces.”

The right attitude

Jabi Lake Mall in Abuja, Nigeria completes the impressive portfolio compiled in just half a decade, with it

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www.cacons.com

TILLYARD

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illyard was established in Nigeria in 1958 and continue to practice and provide expertise in Quantity Surveying, Project Management and Construction Economics on an international consultancy basis.

The firm has provided quality services together with other ancillary cost consultancy services to various clients and organisations in a variety of industry sectors throughout Nigeria, Africa and worldwide.

From our range of experience and diverse management services, Tillyard Nigeria is equipped with the in-house skills and experience to provide input from strategic guidance of master plan to delivery of complex projects.

We are proud to be associated and involved with Laurus Development Partners on various projects and developments.

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Over the last two decades, our completed projects have Shaped the Lagos Skyline CA Consultants Limited have collaborated with Laurus Development Partners by providing the following Engineering Services on the Heritage Place project in Lagos, Nigeria.

CIVIC TOWERS, LAGOS, NIGERIA

TARINO TOWERS, LAGOS, NIGERIA

IND15.7044 U/Q ISO 9001: 2008 Certified

STANDARD CHARTERED BANK HEAD OFFICE, LAGOS, NIGERIA

• Engineering Design – Mechanical – Heating, Ventilation & Air-Conditioning (HVAC), Plumbing & Piping, Electrical – Power, Signal, Lighting, Fire Protection/ Life Safety, Lift Design, Utility Supply, Troubleshooting, Security and Control.

• Contract Documentation - Preparation of specifications and drawings for tender action, preparation of specialist bills of quantities.

• Contract Administration - Evaluations of tenders, installation review and cost control Valuation of variations, certification of interim payments and settlement of final accounts.

Head Office 6th Floor, UBA House 57 Marina, Lagos, Nigeria E-mail: mainoffice@cacons.com Telephone: +234-1-4622734 -5

Abuja Office Suite 1, 1st Floor, Wing B, City Plaza Ahmadu Bello Way, Garki 2, Abuja, Nigeria E-mail: abujaoffice@cacons.com Telephone: +234-9-2918015

www.cacons.com

TILLYARD NIGERIA LIMITED Chartered Quantity Surveyors and Project Managers

First Floor 241, Igbosere Road, Lagos Tel: (01) 7642726, +234 9094833266 Email: info@tillyardng.com Website: tillyardng.com

Proud to be Quantity Surveyors associated with Laurus Development Partners

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Night view of Heritage Place in Lagos three months from completion

set for completion in November, 2015, and once again geared towards being a game-changer for the city. Featuring 30,000 square metres of floor space dedicated to the cream of the crop in continental retail, the complex also integrates cafes, restaurants, bars, a cinema and public areas to once again highlight not only the scope that Laurus is able to work to, but its ability to adhere to the demands of each project and indeed, region.

“While a lot of people think of Africa as one market, we cannot emphasise enough how Africa is a vast continent with 53 countries, each one with its peculiarities, market conditions, laws, regulations and languages,” Matta affirms. “We do not want to spread ourselves too thin as we know how difficult it is to manage large footprints in Africa, and this is why we are still focused on Nigeria, Ghana and Ivory Coast.”

In taking this approach, Laurus is also able to adopt a concerted local

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While a lot of people think of Africa as one market, we cannot emphasise enough how Africa is a vast continent with 53 countries...

Senior Development Manager, Stephen Hynes addressing the press and dignitaries at Heritage Place topping out ceremony in Lagos

strategy in regards to its employment strategy; leveraging the Actis influence as well as its own rapidly growing reputation in the process.

“We tend to hire as many local professionals as possible, as local knowledge is key in what we do,” Matta says. “When we cannot find the talents we need locally then we look internationally, but increasingly we see West Africans living in the UK, France and US looking to come back to the region, so we tap into that pool of talent when we can.

“We are a small Company so every new hire is very important and in this part of the World, problem solving is critical to success so it’s more about having the right attitude than skills.”

Replicating the entrepreneurial culture evident across its external operations, Laurus has ultimately formed a very entrepreneurial internal structure among its workforce, having created an environment conducive to

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innovation, knowledge sharing, and close collaboration with each other and investors.

Sustainable development

The final string to Laurus’ local bow comprises a strong commitment to corporate social responsibility activities, once again taking its lead from Actis’ longevity and subsequent involvement in regional enrichment.

This philosophy embraces everything from local personnel development to engraining the most modern and advanced green concepts into its developments, while always looking to boost the local economy where possible.

A strong “ownership mentality” is what Matta attributes this ethos to, and this has a similarly positive knockon effect on the projects themselves, as Laurus looks towards future

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opportunities.

“We work in complete alignment with the investors and are very focused on quality as we believe quality assets will retain value in the long-term,” the CEO says. “We can comfortably say that Laurus is a pioneer in sustainable development in West Africa; One Airport Square is the first green certified commercial building in the region and we are very proud we had the chance to be part of it.”

Increasingly outsourcing project and construction management services, Laurus never detracts from the plethora of services that helped get the Company off the ground so nimbly to begin with, and an almost unrivalled track record in the market has been achieved over the past five years as a consequence.

Over the next five years, Matta expects such successes to be not just

Top: View of Jabi Lake Mall waterfront. Above: The main internal square in Jabi Lake Mall under construction

replicated, but refined and improved even further as it opens up West African markets to more and more international and local investors.

“In five years we have managed to deliver three projects, following the whole process from the first day we walked on to the site, to the day we handed over the keys of the building,” Matta concludes. “Our world-class team creates projects that are relevant; this means that they are aesthetically relevant, socially relevant and functionally relevant.

“Because of our experience, our expertise and our tried and tested approach, we are able to manage short and long-term risk and deliver strong returns.”

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First Floor One Airport Square Airport City PO Box CT 8434 Cantonments Accra Ghana T: +233 302 744 077 E: info@laurusdp.com

www.laurusdp.com