The name Elias Saad may really not ring bells, this has nothing to do with the fact that it is not one of the traditional Nigerian local names, but the story of the man who entered into the country since 1970 and his achievement in the course of his stay is worth mentioning since he was the brain behind the magnificent man-made wonder called Eko Pearl Towers on the expansive Eko Atlantic City.
Mr Elias Saad, after a period of working for another company, decided to establish his own when he forays into a restaurant, a poultry farm, and then a logistics company, after which he started a printing and packaging company and in 1999, he ventured into the exportation of cocoa, and in a year when the national export figure was 150,000 tons in total, he exported 55,000 tons single-handedly.
According to Saad, “the progression of trade put me in an increasingly strong position in the market. My operations were growing, and I delved into road and civil construction backed by my quarries. Further down the line, I became the main supplier of the many rocks that form the first reinforcement wall of Eko Atlantic City, a city created by Mr. Ronald Chagoury to protect Victoria Island from future erosion that has degraded the coastline around Lagos over the last decades.”
Being the first residential property developer in Eko Atlantic City, he was taking a very great risk, but his potential as a risk taker and strategies paid off, the project according to the Chairman costs $600 million dollars. He explained that many people initially had their doubts, but he was able to continue with it because he had his own share of supporters who saw its validity.
The Towers project which comprise exclusively of deluxe apartments is being developed at land level on 22,700 sqm at the harbor front of Lagos’ innovative Eko Atlantic City. The five Eko Pearl Towers are a collection of two-bedroom, three-bedroom, and Penthouse-type apartments with sea and marina views for residential and investment purposes only. And the towers are named after the most precious Pearls in the sea; Black, Champagne, Aqua, Indigo, and White.
Mr. Saad explained “My investments have secured a valuable reputation regarding Eko Atlantic, and an increasing number of investors are aligning themselves with my projects. Construction and real estate are my main lines of businesses, and Eko Atlantic has done extremely well thus far, although it has not even scratched the surface of its potential.”
The first of the Eko Pearl Tower, Black, was commissioned sometimes last year and it has been sold out completely before its completion, while sales for the second Tower, Champagne, which is more than 80 percent done has more that 50% of it already sold.
The Chairman of Eko Pearl Nig Ltd, Elias Saad, had been living in Nigeria for almost 50 years after which he had been naturalization because of his determination to better the economy of Nigeria. He also has similar project elsewhere in the world as well. In his words “I recently developed a multiphase apartment project in Bangladesh where I am building around 4,000 apartments. I am considered one of the most reputable independent developers in Beirut, Lebanon under the umbrella of my company, (Elias Saad Leading Association (ESLA) and have completed 27 construction projects consisting of towers, villas, and office buildings.”
It is to note that he owns companies that are into other brand of business even outside the shores of the country, companies in the fields of piling, logistics, civil and road construction, real estate development, electro-mechanical engineering, industrial baking, ceramic manufacturing, and telecommunications.
Asked if there is a possibilities that he’s working alone, Mr. Saad stated, “I never work alone; I use my personal expertise coupled with my very professional team. They provide me with briefings on a daily basis. In less than four years, another company that I own that manufactures tableware and ceramics will be the largest global producer of these products. Our ceramic products are already well established in markets such as the US, France, the UK, and most of the Arab countries.” He concluded that he will be working towards building another ceramic factory as market is growing.