Firm Launches Luxury Residential Apartments Project in Lagos

Esther Oluku

Indigenous real estate firm, FAB Realty, has launched its luxury residential apartments project in Maryland, Lagos, with construction formally commencing after a groundbreaking ceremony held at the project site on Oki Lane.

The project themed, ‘Fab Luxury Court’ will comprise one-bedroom, two-bedroom and three-bedroom housing units.

According to the Chief Executive Officer of FAB Realty, Ayomikun Adebayo, the decision to site the project in Maryland followed feedback from clients seeking quality residential apartments on the Lagos mainland.

The project, she said, is being launched against the backdrop of Nigeria’s widening housing deficit, estimated by experts to run into millions of units, particularly in major urban centres such as Lagos.

She explained that rapid population growth, urban migration and rising construction costs have continued to strain available housing, with demand outpacing supply, especially for well-finished residential apartments on the mainland.

“We realised that a lot of our clients are constantly asking for standard quality apartments on the mainland. Most times, when they find apartments on the mainland, the quality is not the same as what they see on the Island. That gap is what informed this project,” Adebayo said.

She added that the heavy concentration of high-end developments on Lagos Island has limited options for many prospective homeowners who prefer to live on the mainland.

“We are responding to what our clients are asking for by providing apartments that meet modern standards, but are located on the mainland,” she added.

Adebayo also highlighted Maryland’s strategic location, citing its proximity to key parts of Lagos and major transport routes.

“Maryland is about ten minutes to the airport, about twenty minutes to Ikoyi, and it gives easy access to routes leading out of Lagos, including Ibadan. Location was a major factor in choosing this site,” she said.

Industry observers at the launch noted that Adebayo’s role in driving the project reflects the growing participation of women in Nigeria’s real estate sector, a space traditionally dominated by men.

Fab Luxury Court is expected to boost the supply of housing in the Maryland area of Lagos and its environs.