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Is Kingsway Road the preferred office location for Nigeria’s billionaires?

Over the years, commercial hubs within Lagos including Ikoyi, Victoria Island, and Lagos Island have been the choice for Nigerian companies to site their offices, especially their headquarters. According to our directory, over 750 organizations have made this choice. In Ikoyi specifically, there is currently a pipeline of 55,774 m2, 74% of which is currently under construction.

Not surprisingly, Alfred Rewane (Kingsway) Road, Ikoyi has played host to some of Lagos’ prominent office buildings such as Marble House, Heritage Place, Alliance Place, and Temple Tower (One6 Temple). In addition to this, it has also become the choice of three of Nigeria’s billionaires, Modupe Alakija, Aliko Dangote & Abdulsamad Rabiu to build their offices. According to Forbes, they have a combined net worth of over $18.6b.

Here’s a brief insight into the projects they are developing.

FAMFA OIL TOWER
Famfa Oil Tower is a 22-floor office development and will serve as the Headquarters of Famfa Oil Limited, owned by one of Africa’s richest women, Chief (Mrs) Folorunsho Alakija. Famfa Oil will occupy three (3) floors for her business activities and lease other floors to the public. Other amenities and features of Famfa towers include:

Trustfund Pensions Limited
A Gymnasium,
Multipurpose Hall,
Helipad (with a dedicated waiting lounge),
266 parking bays,
Raised access floors and
Select granite finishes.
Developer: Dayspring Property Development Company

Floors: 22

Main Contractor: Julius Berger Nigeria Limited

Architect: Adeniyi Coker Consultants Limited (ACCL)

Commencement Date: Q4:2016

Estimated Completion Date: Q2:2022

DANGOTE GROUP HQ
Concurrently with the company’s head office presently domiciled in Union Marble House, on Kingsway road Ikoyi, Dangote Group has other branches in Lagos situated at Apapa, Lekki Free Trade Zone, Aromire and Mekunwen Road, Ikoyi.

Jaiz bank
The new Dangote Industries HQ building, situated 1km away from their old headquarters, is an 18-floor office development that will, on completion, serve as the HQ of Dangote Group. Owned by Africa’s richest man, Aliko Dangote, the building will be fully occupied by employees of Dangote Group.

Developer: Dangote Industries Limited

Floors: 18

Gross Leasable Area: c. 15,000 sqm

Main Contractor: Dangote Projects Limited

Architect: James Cubitt Architects

Commencement Date: Q4:2018

Estimated Completion Date: Q4:2023

BUA OFFICE DEVELOPMENT
While BUA Group, owned by billionaire businessman, Rabiu Abdulsamad, recently moved to their 10-floor current HQ located on Churchgate Street, Victoria Island, they have recently kicked off plans to construct an 8-floor office building located on the corner of Club and Kingsway Road, Ikoyi. The project is still in its early stages and there aren’t many details available. However, we cannot confirm that they will be moving their HQ to this location upon completion.

Developer: BUA Group

Floors: 8

Gross Leasable Area: unconfirmed

Main Contractor: Charvet Construction Limited

Architect: Ecad Architects

Commencement Date: Q2:2021

Estimated Completion Date: Q4:2023

What is your favourite upcoming office development in Ikoyi? Leave a comment below.

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