The Lagos-Calabar Coastal Highway corridor has been tipped as a potential new hub for real estate development and investment in Lagos, with property industry executives pointing to improved accessibility and ongoing infrastructure development as factors increasing the area's appeal.
Ikechukwu Ugwu, Chief Marketing Officer of Palton Morgan Holdings, described the coastal corridor as Lagos’ next Victoria Island while speaking to journalists during a tour of the company’s Paramount twin towers development in Lagos.
Ugwu said the level of construction and development taking place along the route could transform the area into a major destination for residential and commercial property investment.
He urged the media to pay greater attention to developments along the corridor, arguing that many Nigerians were yet to appreciate its potential.
“A lot of people do not know that big things are going to spring up from that location,” Ugwu said, adding that the scale of ongoing work could make the area increasingly attractive to investors and property buyers.
According to Ugwu, the introduction of the Lagos-Calabar Coastal Highway has positively affected property development along the corridor.
He explained that some developers had initially adopted a cautious approach while waiting for greater clarity about the government's plans for the coastal route.
However, he said the infrastructure project had improved access to the area and increased interest in developments along the axis.
The highway is a major federal infrastructure project designed to connect Lagos with coastal communities across several southern states, extending towards Cross River State. Its first section runs from Victoria Island through the Lekki axis towards Eleko.
The Federal Government has presented the project as a means of improving transportation, supporting economic activity and strengthening connectivity along Nigeria's coastline.
For property developers, improved road access can make previously less accessible locations more attractive for residential estates, commercial buildings and other real estate projects.
During the tour, Ugwu also discussed the vision behind the Paramount twin towers project, describing it as a development intended to create a lasting landmark.
He said the project was conceived to deliver an iconic property that would appeal to people seeking long-term value beyond a conventional real estate investment.
Mumtaz Zaidi, Chief Commercial Officer of Palton Morgan Holdings, disclosed that the 13-storey development was being developed by Grenadines Homes.
Zaidi said the project was expected to be completed in the first quarter of 2027.
The development is part of the wider property activity taking place around the coastal highway corridor, where developers are positioning projects to benefit from improved accessibility and future growth.
The comparison with Victoria Island reflects the expectations some developers have for the coastal corridor. Victoria Island is already an established commercial and residential district with offices, hotels, retail businesses and premium property developments.
Whether the coastal highway area can achieve a similar level of commercial activity will depend on several factors, including infrastructure delivery, supporting utilities, demand, security and the pace of surrounding development.
For prospective investors and homebuyers, the corridor's growth prospects may present opportunities, but property decisions should be based on verified land titles, project approvals, location-specific risks and realistic investment assessments rather than promotional projections alone.
Tags: Lagos-Calabar Coastal Highway, Lagos Real Estate, Property Investment
Make the headline more newsworthyRemove repeated coastal corridor phrasing