August 29, 2014

Ozumba Mbadiwe Avenue vs. Kingsway Road – Mixed Use Hub Rivalry

Dolapo Omidire

The development pipeline within the office sector in Lagos is exceptionally strong, with reports stating that over 155,000sqm of office space will be coming onto the market within the next 24 months. But that’s not all. Other sectors including hospitality/leisure and residential are expanding aggressively and it is creating dynamic mixed use regions in Africa’s megacity.

Most of the mixed use space under construction is clustered in Victoria Island and Ikoyi. More specifically, Ozumba Mbadiwe and Kingsway Road. These two roads that serve as what can be described as nerve centers for the two regions already have relatively robust real estate offerings. However, as the list and map below demonstrates this will be growing even further.

For Ozumba Mbadiwe Avenue:

Existing

  • Radisson Blu – Hotel
  • Civic Center – Mixed Use
  • Oriental Hotel – Hotel
  • Four Points by Sheraton (Nearby) – Hotel

Expected

See and click the map below for more.

View Ozumba Mbadiwe in a larger map

For Alfred Rewane Road (Formerly Kingsway Road):

Existing

  • Southern Sun – Hotel
  • Mulliner Towers – Office
  • Osbourne Tower (Nearby) – Residential

Expected

See and click the map below for more.


View Kingsway Road in a larger map

These new developments bring exciting prospects to the future real estate market in the country. And with improved infrastructure as well as a focus on regeneration and refurbishment, these regions should be able to take private sector initiatives like the $6b Eko Atlantic head on.

In a face off between Ozumba and Kingsway Road? I think Kingsway Road wins. The developments are clustered closer together and each building’s features will complement the other much better. Additionally, Ikoyi is already an exclusive location in Lagos and this will only boost that further. As Ozumba Mbadiwe is a much longer road, it will take much longer to fill up, however it will still remain a go-to mixed use destination.

What do you think?

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