As land values and construction costs continue to rise in Lagos, Chief Executive Officer, Ace Real Estate, Ayobami Akindipe, is taking The Twist into Victoria Island’s increasingly competitive premium residential property market.

The development is coming into a district where property values and rents have recorded substantial growth, strengthening the attraction of the area to investors seeking long-term value.

Victoria Island remains one of Lagos’ established commercial and residential centres, with demand driven by corporate executives, expatriates, diaspora investors and high-income professionals.

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.

But 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.

Akindipe’s Ace Real Estate is positioning The Twist within this market, with the project representing the company’s entry into a more prominent segment of Lagos’ vertical premium property market.

The challenge, however, is that Victoria Island’s property market is becoming more sophisticated.

For developers, having a prime location is increasingly only the starting point. Buyers and tenants are becoming more discerning about architecture, quality of construction, apartment design, management and maintenance.

The long-term performance of The Twist will therefore depend not only on the strength of its location but also on the quality and consistency of its execution.

This is particularly relevant to prospective off-plan buyers, for whom delivery timelines, construction standards and the eventual management of the property can significantly influence rental and resale prospects.

Victoria Island nonetheless retains an important structural advantage: the supply of prime land is finite.

Although new developments can increase the number of properties available, prime locations within an established district cannot be reproduced. As redevelopment continues and the cost of creating new properties rises, well-positioned developments could benefit from the scarcity of comparable locations.

The investment case for The Twist is consequently tied to two factors — the enduring fundamentals of Victoria Island and Ace Real Estate’s ability to deliver a development capable of meeting the expectations of the premium market.

Prospective investors would need to assess the developer’s delivery capacity, the quality of the finished development and its ability to compete with existing and emerging properties in the area.

With Victoria Island continuing to command some of the highest property values on Lagos Island, Akindipe’s latest development enters a market where the demand for well-located premium residential assets remains strong, even as investors become increasingly focused on quality, execution and long-term value.