La Tour, Victoria Island, is now Fully Occupied!

La Tour, a 17-floor residential development on Bishop Oluwole Street, Victoria Island, is completely let out. This marks a relatively rapid post-completion lease-out in Lagos’ luxury residential market in 2026 since its completion in December, 2025. The building was developed by Aerobell Properties Limited, designed and built by ITB Nigeria Limited. Other project team members include: IAA Associates Limited, as the Structural Engineer; Pierre Dammous & Partners, as the MEP Engineer; and Consultants Collaborative Partnerships (CCP), as the Project Manager and Electrical Engineer.

It comprises 45 units of two- and three-bedroom apartments, with amenities such as a swimming pool, children’s playground, bar lounge and a fully equipped gym. La Tour recorded a rapid absorption rate despite not being actively marketed during its construction phase.

As at January 2026, a two-bedroom in La Tour was going for ₦35,000,000 per annum, while a three-bedroom apartment went for ₦50,000,000 per annum, and the price increased as the floors increased.

The rapid absorption of newly completed developments is indicative of sustained demand for well-built residential developments in Victoria Island. Other projects delivered in 2025, including Mar-Mic Court and The Oak Residences, have been fully let out and completely sold out respectively. A key factor behind this performance is that marketing or sales commence before completion, allowing a significant portion, and in some cases, all units to be sold or fully let upon completion. 

Several developments completed in 2025 still have unsold or vacant units, while additional supply exists in the secondary market, where individual owners are offering completed units for sale or lease. Developers need to ensure that their projects align with evolving market demand by delivering the product mix, pricing, quality, and amenities buyers are seeking to achieve strong sales and full occupancy.

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