Lagos’s luxury housing market is experiencing a significant boom, with developers having delivered 2,500 high-end homes and another 3,000 units currently under construction across the city.
The surge spans prime neighbourhoods, including Ikoyi, Banana Island and Ikeja GRA, signalling growing investor confidence and strong demand for upscale residential properties.
Speaking during a recent project delivery, the Group Managing Director and Chief Executive Officer of Lekki Gardens and Foreshore Waters, Richard Nyong, said, “Over the past decade, the premium real estate company, a subsidiary of the Lekki Gardens Group, has delivered more than 2,500 luxury homes in Ikoyi, Banana Island and Ikeja GRA, with an additional 3,000 units currently under construction across over 30 active sites.
“Rather than chase attention, Foreshore Waters has focused on execution. From waterfront high-rises to low-density gated estates, its projects have quietly reshaped residential living in some of Lagos’s most sought-after corridors.”
Among the completed developments are The Signatoria 1 in Osborne Foreshore, Ikoyi, delivered in 2021, and Insignia, also in Osborne, completed the same year. Riverside Apartments along Banana Island Road followed in 2022, while Le Chateau in Osborne, Ikoyi, was delivered in 2024. Signatoria Court I in Ikeja GRA and Foreshore Terraces were completed in 2025.
Nyong highlighted the company’s focus on client trust and long-term value. “When clients commit their resources to us, our responsibility is to ensure that their investment grows,” he said.
Ongoing projects are progressing ahead of schedule. Signatoria Heights in Osborne, Ikoyi, is already fitting windows and doors, about 12 months ahead of its original December 2026 completion date. Ime Heights on Alexander Road has reached the 10th floor, while IME Towers and Riverside Duplexes in Banana Island have surpassed the 11th floor, pouring new decks every 15–17 days.
Market activity indicates strong returns for early investors. “A four-bedroom maisonette in Ime Heights bought quietly for N180m in 2022 now changes hands at N750m, without the buyer ever seeing the finished marble floor,” the report noted. Another unit in Riverside Duplexes, originally N199.99m in 2022, was flipped in December 2025 for N890m.
Real estate agents described the developer as a “reference name” for investors seeking high-end off-plan properties. “Most of the new buyers we see in their ongoing projects are not first-timers with the brand,” an Ikoyi-based realtor said. “They either live in an older Foreshore estate, or they have resold one and seen the returns. So, there is a quiet pipeline of demand.”
The developer’s ongoing projects, including Riverside Duplexes in Banana Island, Ime Heights, Aria Heights, Signatoria Heights in Osborne, and new phases of Foreshore Terraces, continue to expand Lagos’s luxury housing options. With flexible payment plans of up to 24 months, the company aims to serve both owner-occupiers and long-term investors.
