Bluewater-Okunde Land Prices Surge 751% in Five Years

Land prices in the Bluewater-Okunde area have increased by 751% in less than five years, from N329,000 per square meter in 2021 to an expected range of N2.5 million to N2.8 million per square meter by 2026. This area, which occupies approximately 85,000 square meters along the Atlantic Oceanfront on the Lagos-Calabar coastal road, is opposite the Eko Atlantic Beach Resort and adjacent to the Eko Atlantic City.

The rise in land value is attributed to several large-scale infrastructure projects, including the ongoing development of Eko Atlantic City, the construction of the Lagos-Calabar coastal road, and a new United States consulate complex within the Eko Atlantic development. Keji Giwa described the district as having growth prospects comparable to Miami's Brickell waterfront, transforming it into a global financial and luxury residential hub.

The Eko Atlantic City project is reportedly 80% complete in its land reclamation program, which continues to attract multinational companies and institutional investors.