FIVE STAR * FIVE CITIES
Due to the emergent commercial viability and position of film production/tourism industry in Nigeria and also the predominance of film production in Five Cities i.e. Lagos, Asaba, Owerri, Abuja and Kano we came up with the concept of a Five Star- Five Cities Development concept. This is particularly due to the need to fill the infrastructural and technical capacity gap in the industry. The cocktail of projects envisaged for the NOLLYWOOD FILM CITY AND PALM RESORTS include event centre and meeting halls, mini artificial lake to serve for aquaculture and recreational fishing, palm plantation integrated with cattle ranch and goat/sheep sanctuary, boutique guest house, International Film Studio and ATV trails apart from houses and serviced plots of land to be sold to the general public. The film industry in Nigeria will certainly have the benefit of a film shooting/production facility that is of international standard and also privately owned. Nigerians in Diaspora are majorly the prospective buyers in anticipation of making the houses earn rental value when not occupied by Diaspora owners-thereby making it truly hubs for theater production in sub-Sahara Africa. The NOLLYWOOD FILM CITY AND PALM RESORT will also target the international property market and thereby ensuring FDI when the ones in Lagos, Abuja etc would come up stream. Our business model is low capital entry at this stage. Thereafter we shall maximize our capital formation efforts in the mid-term (i.e. 36-60 months), when we would have obtained the full returns on our initial sweat capital through brand visibility. Also due to the fact that there is the urgent task of non-oil revenue diversification in Nigeria especially in consideration of tourism as a high-income earner, we are encouraged to leverage the process by creating the catalyst. The film industry in Nigeria will certainly have the benefit of a film shooting/production facility that is of international standard and also privately owned properties shall be sold to the public especially Nigerians in Diaspora in anticipation of making Nigeria a hub of theatre production in sub-Sahara Africa. Thus, the annual financial miss to Nigeria from the present scenario i.e. poor tourism packaging being put at about US $2.5 billion will be reversed, including the improvement of the necessary social amenities and tourism facilities. The NOLLYWOOD FILM CITY AND PALM RESORTS will also target the international property market and thereby ensuring FDI if the concept of the FIVE STAR-FIVE CITIES is followed through. It is against this background that this proposal for investment in a profit oriented real estate development is presented.