Watch out for Ikoyi Crescent – Real Estate Market Data and Research for Nigeria and other African Countries | estate intel

Watch out for Ikoyi Crescent

Private Development by Dayspring Property Development Company on Ikoyi/Modupe Alakija Crescent.

New residential developments along Ikoyi Crescent (also known as Modupe Alakija Crescent) are redefining the road as one of Ikoyi’s superior prime locations. Aside the large existing properties on the road such as the US Consulate General Residence, new arrivals on the street include Fidelity Bank’s private banking office, which was designed by Idlewoods Limited, a private development by the Dayspring Property Development Company, the large residential development by Chartwell Limited and another by Drawcok Estates Limited.

Unlike other prime areas in Ikoyi where most of the residential developments have been built to be leased or sold, most of the new projects on this Crescent will be occupied by the ultra high net worth individuals that developed them. The road can be accessed from Osborne road or from the end of Gerrard road, beside the abandoned Luxury Collection hotel project.

Land availability on the relatively short ±1km road compared to others in Ikoyi such as Cameron Road (1.5km), Queens Drive (2.9km) or the increasingly commercial Glover Road (2km) indicate that even if commercial activity began to emerge, it will have to be limited. According to estimates from major brokers, prime land in Ikoyi currently goes for c. N300,000 per m2, trending slightly lower as the market for commercial real estate continues to soften due to a poor economic environment and oversupply .

See the images below to get a sense of the roads newest projects.

Luxury Development by Chartwell

New Residential Development on Ikoyi/Modupe Alakija Crescent by Chartwell Limited

New Residential Development on Ikoyi/Modupe Alakija Crescent by Chartwell Limited

New Residential Development on Ikoyi/Modupe Alakija Crescent by Chartwell Limited. Image Source: Chartwell.

New Residential Development on Ikoyi/Modupe Alakija Crescent by Chartwell Limited. Image Source: Chartwell.

New Residential Development on Ikoyi/Modupe Alakija Crescent by Chartwell Limited. Image Source: Chartwell.

New Residential Development on Ikoyi/Modupe Alakija Crescent by Chartwell Limited. Image Source: Chartwell.

New Residential Development on Ikoyi/Modupe Alakija Crescent by Chartwell Limited. Image Source: Chartwell.

New Residential Development on Ikoyi/Modupe Alakija Crescent by Chartwell Limited. Image Source: Chartwell.

3 Floor Residential Development 

Private Development by Dayspring Property Development Company on Ikoyi/Modupe Alakija Crescent.

Private Development by Dayspring Property Development Company on Ikoyi/Modupe Alakija Crescent.

Fidelity Private Banking Office

Fidelity Bank Private Bank Office - Ikoyi/Modupe Alakija Crescent Ikoyi. Image Source: Idlewoods Limited.

Fidelity Bank Private Bank Office – Ikoyi/Modupe Alakija Crescent Ikoyi. Image Source: Idlewoods Limited.

Private Development by Drawcok Estates

Private Development by Drawcok Estates

Private Development by Drawcok Estates

Private Development by Drawcok Estates on Ikoyi/Modupe Alakija Crescent.

Private Development by Drawcok Estates on Ikoyi/Modupe Alakija Crescent.

 

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