EKO ATLANTIC
Irrespective of the current economic recession currently battling the country’s economy, investment interest in Eko Atlantic City is still surging. Demand for the prime land, which the city offers, is rising by the day, leading to a significant increase in price. Land reclamation from the Atlantic Ocean for the development of Eko Atlantic started in 2008. At that time, buyers were offer land for less than $1,000 per square metre which was even less than what Victoria Island land was going for. Today, the story has changed. As at the second quarter of this year, price of land in the city stood at US$1,720 which is an equivalent of ₦523,000 per square metre, making it the most expensive prime land in Lagos. By this price, the city’s land value is now 40 percent higher than the neighbouring Victoria Island. Victoria Island land selling at US$1,244 / ₦379,000 per square metre and Lekki at US$681 / ₦207,000 per square metre have risen by 14 and 15 percent respectively over
