Here Are The Latest Developments Along Or In Proximity With Queens Drive, Ikoyi

As one of Lagos’ prime neighbourhoods, we have previously explored Ikoyi’s residential market activity and even narrowed our focus to specific areas, such as the B.A.G. stretch, to provide a deeper understanding of its performance. This week, we delve into another section, located adjacent to the popular Bourdillon and overlooking the lagoon and Victoria Island, in the Queen’s Drive area(now Oyinkan Abayomi Drive). As expected, it is also another most sought-after section of the neighbourhood, mostly characterised by low-rise exclusive residential buildings. 

Queen’s Drive area in Ikoyi is experiencing a marginal rise in low-density apartments

The Queens Drive area in Ikoyi is a predominantly low-rise residential area mostly characterised by mansions, townhouses, duplexes, maisonettes, and bungalows. It is, however, experiencing a marginal rise in low-density apartments in line with zoning restrictions. We have recently noted an increase in the development of these apartments, which are more private and exclusive compared to their surrounding area, such as Bourdillon, with massive developments; however, they share similar amenities.

La Serena (Queens Residence) was just recently completed, and now The 10QD Residence and The Grand Martinique, among other projects, are upcoming. 

As a recap, Ikoyi residential buildings are generally classified into three grades: deluxe, which accounts for the majority at 65%, and luxury and ultra-luxury, which make up 35%, as depicted below. Notably, the majority of these upcoming developments that we have spotlighted fall under the luxury and above section, further affirming Queen’s Drive Area as one of the most sophisticated and exclusive addresses in Ikoyi. Its attraction is complemented by its proximity to prime amenities, such as the Corona School, the Polo Club, and the Ikoyi Club, as well as a waterfront view.

Here are the latest developments along or in proximity to Queen’s Drive, Ikoyi, complete with their descriptions:

• Queen’s Residence, a.k.a La Serena

Queens Residence, also known as La Serena, is a newly completed prime residential development on Queens Drive, Ikoyi. It was constructed by Mikano Construction Ltd and completed in 2025. Other project team members included S.A.S Architects as the architect and AIM Consultants Ltd as the structural engineer. It consists of 13 4-bedroom units on 7 floors, with the sizes at 1,190sqm.

A gymnasium and swimming pool are some of the amenities in the building.

• 10QD Residence

The 10QD Residence is a new upcoming residential development on Queens Drive, Ikoyi. It comprises 8 3 & 4-bedroom units, both spanning 481sqm, and a penthouse spanning 1,166sqm. This makes the luxury development unique, given that the units are larger than a typical luxury unit in Ikoyi, or rather similar to that of an ultra-luxury development, where the minimum size of a 3-bedroom is 370 sqm on overall.

Amenities include: conference room, fully equipped gymnasium, spa with massage services and sauna, overflow swimming pool, and kids’ pool. There are also designated guest and resident car parks. 

The project is currently under construction by Cappa and D’Alberto Plc and Lambert Electromec Ltd.—two structural masters known for timeless durability, legacy design and architectural authority. Construction is expected to be completed in 2027.

• Grand Martinique

The Grand Martinique is also an upcoming residential development on Magbon Close, Ikoyi. It is being developed by Nathans. Al Mansour Engineering & Contracting Ltd. is the main contractor, whereas Designed Spaces and Chrestrad Consulting Ltd. are the architects and structural engineers, respectively. The development comprises simplexes and duplexes with sizes starting from 650 sqm.

• Private Development By Costain Homes

A private development by Costain Homes (main contractor) is also in the pipeline along Queens Drive. It is a residential development in the conceptual stage, and is expected to be completed in 2028. Costain Homes is also the architect, whereas Encivil Engineering Limited is the structural engineer. The project’s Computer-Generated Imagery (CGI) is yet to be publicised.

Overall, the continued interest in Ikoyi’s residential market is expected to drive its growth in terms of development activity, pricing, and yields. Over the last five years, the area has experienced an average growth of 6.6% in stock additions, with a positive outlook for the future.

We love your feedback! Let us know what you think about the Queen’s Drive development diversity by emailing [email protected].

If you have research requirements or are considering investing in Nigeria’s property market, contact our Capital Advisors team at [email protected].