As the naira continues to show relative stability and the economy turns the corner, the housing market is witnessing renewed activity, with developers unveiling new products and offering investment opportunities.
The Lagos housing market remains Nigeria’s most dynamic, with an estimated 3.2-million-unit deficit concentrated in the mid-income segment. More than anywhere else, this market offers developers enough space to play in.
This is where, recently, Alpha Mead Development Company (AMDC) unveiled its new estate with strong value propositions for investors who can recognize “right product, right location, and right timing” when they see one.
AMDC is a subsidiary of Alpha Mead Group (AMG). It is a leading real estate development company with over a decade of experience in housing and infrastructure delivery across Africa, focusing on sustainable residential, commercial, and mixed-use developments that balance affordability, quality, and climate resilience.
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“The Lekki–Epe corridor has emerged as the new growth axis, fuelled by industrial expansion, improved road networks, and corporate migration from central Lagos,” Femi Akintunde, AMG’s group managing director, noted at the unveiling of their new estate, known as Green Park Estate in Lagos, recently.
“Our projects are strategically positioned to capture this growing demand for secure, modern, and efficiently priced housing within an accessible distance to major job clusters,” Akintunde added, explaining why Green Park is an investment destination.
Besides its location edge at Abijo GRA, which sits between Sangotedo and Awoyaya — key nodes in the ongoing Lekki–Epe urban sprawl, the estate comes with modern apartment designs suited for professionals and families seeking gated, serviced communities.
“Green Park Estate has an affordability advantage; the unit prices are 10–15 percent below comparable developments within the corridor,” Akintunde said, adding, there is also infrastructure readiness, given the full-scale development within a very well-developed neighbourhood of other prominent estates, including Fidiso and Amity.”
The housing market in this axis is witnessing an upswing in demand and, according to Akintunde, this is driven by a convergence of lifestyle and investment demand, pointing out that over 40 percent of new home seekers in Lagos now target the Lekki–Epe corridor.
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Demand here is also driven by corporate cooperative societies (oil & gas, banking, telecoms) who are actively seeking bulk-purchase housing deals.
“Diaspora buyers are also driving consistent off-plan interest due to improved digital verification and trust mechanisms,” he said, projecting rental yield at 7–10 percent annually, which is above Lagos mainland average of 4–6 percent.
The developer assures investment security, explaining that the estate, which has Novera Mall, Crown Estate, Fara Park Estate & Lufasi Nature Park, as its close neighbours, sits on land with solid title.
“Certificate of Occupancy has been issued and signed off by the Lagos State Government; site boundary surveys, geotechnical soil tests, and topographical surveys are all available. Zoning and Land Use approval for the intended purposes (residential and mixed-use developments) and final layout approvals are being finalised,” he stated.
