Old Ikoyi, located in Ikoyi, is one of the most affluent neighbourhood in Lagos which comprises Glover Road, Temple, Bourdillon, Webb, Aromire, Osborne, Alfred Rewane Road and Cooper Road among others. Contained in the list are places called high streets of Ikoyi which are the locations within Old Ikoyi where it is permissible for buildings to go beyond ten floors and up to twenty floors.
The face of Old Ikoyi has gradually changed and is still undergoing a number of developments as it was purely a Government Reserved Area dominated by single unit bungalows and one storey buildings on large plots of land but over the last two decades has experienced massive change from the sale of landed properties and the approval for buildings that can go as high as 30 floors or 15 apartment units on a 1,000 sqm of land.
Some of the newly completed and ongoing projects within the area are sure to make the prices of landed properties appreciate greatly. Developments such as hotels of international standard, several residential developments, commercial and mixed-use high rise developments. The high streets of Old Ikoyi are preferred locations for expatriates to reside and multinational companies to situate their offices. Buying a land in Old Ikoyi is a lucrative investment as the prices of properties have gone down due to a shift in the focus of potential Old Ikoyi investors to places like the Eko Atlantic City. What better time to acquire a land in Old Ikoyi than now, when the prices are reduced.
Land for sale in Old Ikoyi varies with respect to location, size and accessibility, which is why a 4500 sqm of land for sale in Kingsway Road costs N3,200,000,000 while a 4000 sqm land for sale in Glover Road costs N1,500,000,000.