Lagos State Government to Add Nearly 95,000 sqm of Premium Office Space by 2027 Across 10 Projects

Lagos is gearing up for a significant expansion in its commercial real estate sector. According to the latest data, approximately 94,931 square meters of premium office space will be introduced by 2027 through 10 new developments. This marks a bold stride forward for the city's Grade-A property market.

This surge in supply aligns with a broader development trend across the commercial real estate landscape. Nonetheless, conventional concerns persist demand remains soft and occupiers are increasingly cost-conscious, reshaping traditional occupancy and pricing dynamics.

As Lagos positions itself for this wave of new construction, developers may increasingly rely on pre-leasing agreements and strategic incentives to navigate the competitive environment and secure tenant interest.