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Nigeria’s real estate development market is made up of a wide range of players, but a smaller group stands out for the scale of projects delivered and the breadth of their presence across major urban centres.
Fortren & Company’s ranking of the country’s top 10 developers assesses companies based on their completed portfolios, scale of delivery, market presence, sector focus, flagship projects and organisational maturity.
The developers span residential, mixed-use and large-scale urban development, with activity concentrated in Lagos and Abuja but extending to other major cities.
Their portfolios also reflect the changing structure of Nigeria’s property market, from large housing estates and serviced communities to waterfront and mixed-use developments.
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The ranking provides a look at the developers that have built some of the country’s largest completed property portfolios and the projects that define their presence in the market.
10. Landmark Africa Group
Landmark Africa Group ranks tenth, with five completed projects across its real estate portfolio, although the number of completed residential units has not been disclosed.
Incorporated in 1997 and led by Paul Onwuanibe as CEO, the company focuses on mixed-use and commercial real estate, with developments spanning Lagos and Enugu. Its portfolio includes projects combining commercial, hospitality, leisure and other uses rather than conventional residential developments.
Its flagship projects include Landmark Village in Victoria Island, Lagos, covering 38,000 square metres; Landmark Nike Lake Resort in Enugu, covering 1.5 million square metres; and the Port Harcourt Tourist Beach Redevelopment in Rivers State, covering 50,000 square metres.
9. Chagoury Group
Chagoury Group ranks ninth with 560 disclosed completed units across three projects, although its real estate portfolio extends beyond conventional residential development.
Founded in 1971 by Gilbert Chagoury and Ronald Chagoury, the group has built its real estate presence around large-scale developments in Lagos, particularly mixed-use, residential and hospitality projects.
Its flagship development is Eko Atlantic City in Victoria Island, Lagos, a 10 million square metre land reclamation project being developed as a mixed-use city with residential, commercial, retail and hospitality developments.
Within Eko Atlantic is Eko Pearl Towers, a residential development covering 22,738 square metres. The group also owns and operates Eko Hotels and Suites in Victoria Island.
8. UPDC Plc
UPDC Plc ranks eighth with 1,000 disclosed completed units, placing it among Nigeria’s established real estate developers.
Incorporated in 1997 and led by Odunayo Ojo as CEO, UPDC develops residential, commercial and mixed-use properties, with a portfolio spanning different segments of the Nigerian real estate market.
The company’s flagship developments in the ranking are concentrated in Lekki, Lagos. They include The Hampshire, covering 50,000 square metres; Pinnock Beach Estate, covering 150,000 square metres; and Brompton City, the largest of the three at 300,000 square metres.
7. Cadwell Limited
Cadwell Limited ranks seventh with 76 completed units across 10 projects, reflecting a smaller-scale development model focused on individual residential projects rather than large-volume delivery.
Incorporated in 2001 and managed by Nekpen Emokpae as General Manager, the company’s portfolio is concentrated in Ikoyi, Lagos, where it has developed a number of residential properties.
Its notable projects include Cuddle by Cadwell, The Sphere and Donum/Miserere, with the company’s project-level locations and sizes not publicly disclosed.
6. Arkland
Arkland ranks sixth with 300 completed housing units, with more than 800 additional units currently in progress.
Incorporated in 2008 and founded by Jide Olumodimu, the company operates across property development, advisory, facility management and project management. Its development activities are concentrated in Lagos, including Victoria Island, Eko Atlantic City and Banana Island.
Its flagship projects include A&A Tower in Victoria Island, covering 120,000 square metres; Phoenix Tower, also in Victoria Island, covering 3,442 square metres; and Bijou Tower on Banana Island, Ikoyi, covering 3,900 square metres.
5. Landwey Investment
Landwey Investment ranks fifth with 1,000 completed units, with its activities spanning residential development, land banking and large-scale master-planned communities.
Founded in 2016 by Olawale Ayilara, the company focuses on residential development for Nigeria’s growing middle-income market, alongside strategic land development and infrastructure for larger communities.
Its portfolio is concentrated in Lagos growth corridors, with flagship projects including Isimi Lagos along the Ikorodu-Epe Road, covering 2 million square metres; the Urban Prime Series in Ajah, Lekki, covering about 400,000 square metres; and Woodlands in Ibeju-Lekki, whose size was not disclosed.
4. Foreshore Waters Limited
Foreshore Waters ranks fourth with 3,000 completed units across four projects, with its development activities focused largely on residential properties in Lagos.
Incorporated in 2016 and led by Richard Nyong as CEO, the company develops waterfront and high-end residential properties. It started in Ikoyi and has since expanded its portfolio to locations including Ikeja GRA, Osborne, Alexander Road and Banana Island.
Its notable projects include Riverside Apartments on Banana Island Road, Signatoria on Osborne Foreshore and Insignia in Ikoyi, Lagos. The sizes of the three projects were not disclosed.
3. Palton Morgan Holdings
Palton Morgan Holdings ranks third with 7,000 completed housing units and serviced plots since its incorporation in 2014, with a further 500 luxury units under construction in Ikoyi, Victoria Island and Lekki.
Led by Mumtaz Zaidi as Group Commercial Director, the company focuses on high-end residential development, with a portfolio spanning Lagos and Abuja and a strategy centred on scaling premium residential projects.
Its flagship developments include Paramount Twin Towers in Oniru, Lagos, covering 6,300 square metres; Skyvilla in Ikoyi, covering 2,500 square metres; and L5 Banana on Banana Island, covering 5,000 square metres.
2. Brains and Hammers Limited
Brains and Hammers ranks second with 11,000 completed units across 24 projects, reflecting its position as one of Nigeria’s largest residential developers.
Incorporated in 2006 and led by Funsho Lawal as Managing Director, the company focuses on mid-to-upper-income housing, with much of its development activity concentrated in Abuja’s satellite towns.
Its flagship projects include Brains & Hammers City in Life Camp, Abuja, covering 1.07 million square metres; Bungalow City in Kubwa, Abuja, covering 5 million square metres; and Jubilee Estate in Iganmu, Lagos, covering 140,000 square metres.
1. Mixta Nigeria
Mixta Nigeria ranks first with 23,000 completed residential and retail units across nine projects, making it the largest developer by disclosed completed units among those profiled.
Incorporated in 2005 and led by Deji Alli as CEO, the company focuses on affordable and middle-income housing at scale, with developments aimed at addressing Nigeria’s housing deficit.
Its flagship projects include Lakowe Lakes Golf and Country Estate and Beechwood Park Estate in Ibeju-Lekki, Lagos, and Emotan Gardens in Benin City, Edo State. Lakowe Lakes covers 3.08 million square metres, Beechwood Park 170,000 square metres, while Emotan Gardens covers 700,000 square metres.
