Akindipe takes The Twist into Victoria Island's evolving property market

Ace Real Estate chief executive Ayobami Akindipe is bringing The Twist development to Victoria Island, positioning it in a district where property values and rents have recorded substantial growth. The project targets corporate executives, expatriates, diaspora investors and high-income professionals seeking long-term value in one of Lagos's established commercial and residential centres.

According to the Lagos Island Residential Market Report 2026, Victoria Island recorded an annualised five-year home price growth rate of 25.8 per cent, the highest among the four major Lagos Island submarkets covered by the report. The report put the average selling price of a three-bedroom apartment in the area at approximately N612.5 million, while average land prices stood at about N2.1 million per square metre.

The rental market has also witnessed significant movement. Average annual rent for a two-bedroom apartment reached approximately N15 million in 2026, representing an increase of more than 128 per cent from the average recorded in 2022. Such figures illustrate the changing economics of the district, where rising land values and construction costs are making new developments increasingly expensive to deliver.

Victoria Island's attraction goes beyond property prices. The district hosts banks, multinational companies, professional services firms and diplomatic institutions, creating sustained demand for accommodation close to commercial activity. Ace Real Estate is positioning The Twist within this market as the company's entry into a more prominent segment of Lagos's vertical premium property market.