Eko Atlantic is a 10 million square metre mixed-use city constructed on reclaimed land adjacent to the Lagos coast.
The project was designed by South Energy Nigeria Limited, a project of the Chagoury Group and started in 2008.
The project, which is expected to be fully completed in about 2035, is intended to accommodate more than 250,000 residents, making it one of the most ambitious master-planned city projects privately funded in Africa.
The luxury residential segment in Eko Atlantic is characterized by a unique ecosystem.
Luxury residential properties in Lagos have experienced impressive sales price growth in naira, averaging 38%–60% annually over the past five years, mainly fueled by sustained demand from high-net-worth individuals owing to the brand equity that the project has built since it broke ground.
From our perspective, one of the defining edges of Eko Atlantic is its fully integrated infrastructure and Free Zone status, which offers tax incentives, regulatory support, and Lagos State-backed sublease. The residential market in Eko Atlantic is led by Arkland Properties with more than 220 units, alongside Eko Development Company (the developers of Eko Atlantic itself) and Eko Pearl.
With luxury apartments priced between $659,400 and $5 million, Eko Atlantic targets ultra-HNIs, particularly diaspora and institutional investors.
With major corporate relocations and over 21 pipeline developments totalling 2,500+ units, with many already 50% pre-sold, investor confidence remains strong despite some projects remaining at conceptual stages.
In this article, we will be discussing the top 7 residential developments that we find interesting in Eko Atlantic and what makes them unique.
It is a landmark in Eko Atlantic City’s development. Azuri One, at 33 floors and 146 meters, is the tallest residential building in Nigeria and West Africa, while Azuri Two has 29 floors and similarly luxury-focused units. Together, the towers offer 130 apartments, including three- and four-bedroom units and six-bedroom penthouses.
Key Amenities include:
- Olympic-sized swimming pool and children’s pool
- State-of-the-art gym and wellness spa
- Sauna, game rooms, and screening facilities
- 27,000 square meters of office space in the adjacent tower
- Retail mall on the first two floors
- Four levels of residential parking
- Private Elevators.
Azuri Towers offers 360-degree unobstructed views, ensuring no tower blocks another. The development promises a 6% annual rental return, making it an attractive investment. Initially priced at $207,000, current values have risen significantly, with units now reaching up to $5 million.
