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Remote work policies by International firms will impact the Lagos A-Grade office market during the next round of renewals

International corporates in the financial, technology, and management consulting sectors who account for up to 70% of prime office tenants in Lagos are increasingly adopting remote work options, and this will impact the Lagos A-Grade office market during the next round of renewals.  Though many offices are starting to open up, the enforcement of varying […]

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Ikeja City Mall will be sold to an undisclosed investor for $115 million

Less than 5 years after purchasing Ikeja City Mall for a total consideration of $155 million, Hyprop has announced an agreement to sell for $115m to an undisclosed investor. The Hyprop team has held fast on their resolve to exit the sub-Saharan Africa region (excluding South Africa) and focus on optimising their South African and […]

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Top 5 Hotels opening in Lagos over the next 24 months

The hospitality sector was only just starting to recover from the pre-ebola and recession dips of 2015 and 2016. Data from W. Hospitality Group shows the impact of the COVID-19 pandemic has led to a crash in occupancy rates in Lagos from 45% to 15% in January 2020, which is a much more significant impact […]

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Institutional Investment in Lagos Healthcare.

Currently inadequate and largely ill-equipped, the Nigerian healthcare supply has been driven by the government and private participants. The perceived lack of adequate quality facilities in the country has prompted those who can afford it to seek treatment abroad. According to the Nigerian Sovereign Investment Authority, Nigerians spend as much as $1bn per annum on […]

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Actis-backed Rack Centre announces $100m expansion to create West Africa’s Largest Data Centre

Rack Centre has announced a $100m expansion in a bid to create West Africa’s largest data centre. The Actis-backed company outlined a programme that will increase capacity to a total net lettable white space of 6,000sqm and allow for 13MW of IT power capacity in its Lagos campus. This will be in addition to the […]

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Desiderata in Banana Island is now 100% leased

Desiderata, a 4,654sqm A-Grade office property in Banana Island – Ikoyi, has now reached full occupancy.  Troloppe Property Services represented the landlord as the lead leasing consultant alongside other leasing agents such as Madingwa Real Estate and Templetons. Tenants in the property include International Breweries (AB InBev) and Saipem. Speaking directly to Estate Intel, Leye […]

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Co-operative societies of Shell, Mobil and Total are currently developing 200 housing units

Last week, we published an article on the development of La Definition, a 3 tower development by Total E&P Nigeria Staff Multipurpose Co-operative Society Limited and we have decided to explore at how different cooperatives of notable international oil companies in Lagos are adding to the total supply of multi-family residential units to the Lagos […]

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5 Recent Nigerian Real Estate Startup’s helping with easier living

Living in Lagos is enough of a struggle as is, particularly for young professionals who want to be focused on being as productive as possible. By utilising technology, startups are building solutions such as rent splitting, home concierge services, among others in easing living difficulties.   We currently track 72 Proptech companies, an increase from 58 […]

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Be a part of our research exercise on Housing for the Young Demographic.

Estate Intel is carrying out a survey to understand housing-related preferences and trends among young professionals and students. Kindly fill out this form to participate.

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What happens after the expiration of the 99 years lease term for land?

According to Section 1 of the Land Use Act of 1978, the law vests the ownership of all land in the country to the State Government and that power is held by the Governor. Under the Act, the nature of interests in real property is leasehold for terms not exceeding 99 years. This means that […]

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