Ikoyi, VI see rise in demand for office spaces

Barely few days to the end of 2022, Ikoyi and Victoria Island, Lagos are witnessing rise in inquiries and demand regarding Grade A office spaces.

According to the analysis from Fine and Country West Africa, companies in the oil and gas industry, financial institutions, telecoms and technology businesses made up the top three on this ranking.

“Office spaces in grade-A buildings are desirable and corporations realize the need to situate their operations in such structures,” the report of the analysts said.

Although, the analysts noted that inquiries did not necessarily result in uptake, pointing out that year 2022 has seen organizations relocate into several of these buildings.

These organisations, the analysts said only have access to a limited pool of Grade ‘A’ offices, meaning that they only have a few options available to them in the market.

“Ikoyi and Victoria Island are the destinations for these corporate organizations.

“Some Grade ‘A’ buildings in the pipeline are Dangote and BUA Headquaters, which are owner-occupied, FamFa Tower, which is scheduled to be delivered in the fourth quarter of 2022, will be added to the pool of available options for corporate organizations,” the report said.

“Grade A offices at a prominent location in Lagos economic hub are the most sought with top-notch infrastructure and amenities in excellent areas.

“Here are the top four reasons to consider Grade A office spaces: Location, improved organisation identity, health and safety measures and competitors nearby,” the analysis read