The Oceanna: Take advantage of the trend in co-ownership of luxury hotels in Nigeria

In any declining economy with overt fear of inflation, the greatest store of value is real estate. It means when currency is devalued and every other commodity loses its value, real estate continues to appreciate. So right on the Lagos Island, precisely, in Victoria Island, some sprawling luxury hotels are under construction. The properties are calling for interested public ready to take up a co-ownership investment opportunity with attractive return on investment.


The Oceanna,  a project owned by real estate firm, the Grenadines Homes, comprises of 4 towers, presently undergoing construction at the oceanfront, close to the beautiful Eko Atlantic. The co-ownership model tied to the project presents an investment opportunity for those seeking to keep away some money for the future as an alternative to investing in pension funds.


According to the management of the luxury hotels, the return on the hotel will see an average yield of average 14% per annum unlike a traditional buy to let which will give an average of 5-6% yield annually. Usually, deductions of about 50% total costs are removed from gross revenue for maintenance and management charge to arrive at a net income which will be at a minimum 12% yield of amount invested in the first year if it is purchased on outright basis.

That may sound complex, but wait until the money starts to come in. Three (3) looming realities will work in favour of those investing in The Oceanna:

a. The Lagos State Government renewed drive to build a smart city – Several projects are already in the works around Lagos; for instance the Eko Atlantic City, the new train routes and bridges,  gardens, private beaches and tech hubs. In addition to an expected 100% population increase within the next 20 years, Lagos will see more people coming in and out of the city for trade negotiations and investment opportunities. These people will opt to stay in hotels and use the sprawling hospitality spots available in the city. 
b. Tourism – As more foreigners visit Lagos for investment and holidays, they will use the beaches, and eventually stay in some of the hotels around that vicinity.
c. The proposed Lagos Airport, expected to be located in Ibeju Lekki – Sea ports and airports are major drivers of development. Combined with an ocean economics which state that cities located close to oceans have more probability for growth, the moment the airport is constructed and fully operational, more investment opportunities and development will creep into the Lekki/ Victoria Island axis thereby increasing the values of the properties already located within the vicinity.

Isn’t it time to take advantage of the new investment opportunities presented by The Oceanna? The model already works in the emirates where super-luxury properties and malls pop up every year. As the oil-dependent countries such as the emirates and Nigeria look to tap opportunities in tech and real estate, there is no better time to play along.

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