Nigerian real estate has become a focal point for investors, the industry’s experts have said.
Despite the buzzing atmosphere of Lagos, the experts said the economic capital of Nigeria currently boasts of pockets of exclusive neighborhoods, where homeowners or investors could invest their money in exchange of serene urban living and high returns on investment.
According to industry experts, the nation’s real estate sector has really become a focal point for
They pointed out that investors are focusing on the Nigerian real estate by capitalising on the rich development growth based on massive demand.
Going by this route, the experts have urged industry’s stakeholders to expect a lot of transactions in 2025 as government expands housing and infrastructure development across the federation.
However, it was not surprising last Wednesday when the First Bank of Nigeria Limited entered an era of dominance and sustained leadership in the financial market following the groundbreaking for its state-of-the-art and eco-friendly headquarters at the Eko Atlantic City, Victoria Island, Lagos.
The 40-storey edifice, when completed, is expected to become the tallest building in Nigeria and West Africa.
The ceremony, which attracted a lot of stakeholders, financial experts and top government officials, further showcased the richness of the Nigerian real estate to both local and international investors.
Speaking about the success of the Nigerian real estate in 2025, President, FIABCI Nigeria, Mr Akin Opatola, said that the sector ended last year in a very aggressive and bullish nature, urging people to expect a lot of transactions this year.
“Looking at it in the residential space, industrial, commercial, retail, a lot of things are happening in the sector,” he said
Apart from the First Bank edifice coming up in Eko Atlantic City, Opatola said that no fewer than 25 different development projects were going on in the new city.
“I was opportuned to be at the Eco-Atlantic site to have a discussion with one of the major developers and owners of the Eco-Atlantic project just two weeks ago. And interestingly, he showed us and pointed out 25 different developments that are going on within the city simultaneously.
“So, MTN is trying to also begin their own development; the First Bank is also trying to begin; there’s a retail mall; there’s a school, a church and a data center, among others.
“Let’s not even begin to talk about those other projects.There are six projects that have already commenced. The largest embassy in the world, the American Embassy, they are already two and a half years on. They have about four years to continue and complete,” Opatola said.
The expert noted that notable national and international banks have been quick to capitalise on the opportunities with some of the Nigeria’s biggest banks: FCMB, First Bank, Access Bank and Guaranty Trust Bank are partnering with Eko Atlantic.
Eko Atlantic project is privately funded by South Energyx Nigeria Limited – the developers and city planners, a subsidiary of the Nigeria based Chagoury Group of companies – working in strategic partnership with the Lagos State Government and supported by the Federal Government of Nigeria.
This new city has evolved rapidly from a visionary design concept into a technological reality. Infrastructural road works and underground surface drainage pipes are already laid along major routes across the new city.
As investors converged on Eko Atlantic City, Managing Director of Jagun Associates, Mr. Stephen Jagun, a Lagos-based estate surveyor and valuer, in recent interview reeled out five other exclusive areas in Lagos State where investors can enjoy high yield and serenity of the environment.
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