Medorf Exr Launches Premium Housing Estate in Akure’s Alagbaka GRA

Fadekemi Ajakaiye

As Akure continues to emerge as a key urban growth corridor in Nigeria’s southwest, real estate developments are beginning to mirror the city’s rising profile. Among the latest additions to the city’s built environment is Medorf Residence Estate, a gated mini-estate launched by Medorf Exr Solutions and located in the Government Reserved Area (GRA) of Alagbaka, widely regarded as Akure’s most secure and high-end residential axis.

Designed with a focus on modern urban living, the estate features a selection of 3-bedroom semi-detached duplexes and 3-bedroom terraces, each with an additional boys’ quarters. The developers say the estate is tailored to meet the rising demand for functional, stylish, and secure housing options in Akure’s increasingly competitive property market.

“In designing Medorf Residence Estate, we focused on livability, sustainability, and investor value,” said Mr. Dayo Afariogun, Chief Executive Officer of Medorf Exr. “Alagbaka GRA offered the ideal setting, not just because it is centrally located, but also due to its track record for stability, high-level security, and prestige. Our goal is to deliver more than just homes, we are building a community.”

The estate includes a range of amenities such as a swimming pool, CCTV surveillance, access control security, green areas, and recreational spaces. Other features include fully fitted kitchens, stamped concrete driveways, water supply systems, and electricity infrastructure. Notably, the access-controlled gate requires residents’ approval before visitors are allowed entry, further reinforcing the estate’s security credentials.
“We believe people deserve homes that reflect not just where they live, but how they want to live,” Afariogun added. “That means paying attention to details—security, privacy, lifestyle options, and location.”
Ademola Olapoju, General Manager at Medorf Exr, added that the estate was developed with flexibility in mind for both residential users and investors. “We have introduced a payment plan of up to 15 months to allow for ease of ownership,” he said. “With the current rental value of similar properties in this axis averaging ₦3.75 million per annum, and the potential for up to 25% value appreciation over the next 12 months, the project offers strong fundamentals for investors looking at short to mid-term returns.”

Akure’s real estate market has quietly gained traction in recent years, buoyed by infrastructure improvements, increased government presence, and the city’s status as the capital of Ondo State. The Alagbaka GRA—home to the Government House, Central Bank offices, and a cluster of luxury hotels including Royal Birds and St. Jacobs—has become the epicenter of premium residential development in the city.
According to data from the Nigeria Bureau of Statistics, Ondo State has seen a modest but steady uptick in internally generated revenue and urban development indices since 2021. Analysts suggest that Akure’s relatively low entry cost for property investment compared to cities like Lagos or Abuja may also explain the growing interest from real estate developers.

Short-term rental opportunities, such as furnished shortlets, are also emerging as viable alternatives in the Akure market. Based on current market trends, units within MEDORF Residence are projected to generate between ₦75,000 and ₦85,000 in daily rental income for furnished shortlet use—a figure consistent with short-term accommodation near Alagbaka’s commercial zones.

Afariogun noted that the estate’s potential for flexible usage was part of a deliberate design. “We understand that buyers today are not just looking for a home—they’re also thinking about value, versatility, and how their property can serve them in the long term,” he said.
While Medorf Exr is not new to the property development scene, the Akure project marks a shift in attention toward Nigeria’s secondary cities—locations that industry experts believe will define the next wave of real estate growth.

“With this project, we’re responding to a deeper need for homes that are both secure and future-focused,” said Mr. Afariogun. “Akure is evolving, and developments like this one are part of that story.”