Real estate and infrastructure occupiers in Lagos typically cluster in Victoria Island (VI), plan ~215 sqft per seat at high-end fit-out ($430000–640000/sqft), and pay around 80000 NGN/sqft ($60 USD) on Class A.

  • Preferred submarket: Victoria Island (VI).
  • Typical fit-out spec: High-end ($430000–640000/sqft).
  • Plan ~215 sqft per seat for headcount sizing.
  • Class A rent context: 80000 NGN/sqft ($60 USD).
  • Typical lease: 2 years with 4 months rent-free.
  • Talent depth in Lagos: 74/100.

Real estate and infrastructure office space in Lagos

Real estate and infrastructure occupiers in Lagos typically cluster in Victoria Island (VI), plan ~215 sqft per seat at high-end fit-out">fit-out ($430000–640000/sqft), and pay around 80000 NGN/sqft ($60 USD) on Class A.

TL;DR

  • Preferred submarket: Victoria Island (VI).
  • Typical fit-out spec: High-end ($430000–640000/sqft).
  • Plan ~215 sqft per seat for headcount sizing.
  • Class A rent context: 80000 NGN/sqft ($60 USD).
  • Typical lease: 2 years with 4 months rent-free.
  • Talent depth in Lagos: 74/100.

Where they cluster

Real estate and infrastructure occupiers in Lagos typically anchor in Victoria Island (VI). Banking, oil and gas (Oando, others), professional services, multinational HQs.

What they pay

Class A rent in Lagos runs 80000 NGN/sqft ($60 USD) on a 2-year lease with 4 months free. Trophy submarkets command a 20–40% premium above the city index.

Spec and fit-out

Typical real estate and infrastructure fit-out targets high-end specification at $430000–640000/sqft. Branded reception, full client-facing programming, premium furniture, and specialist AV are standard.

Headcount sizing

Plan around 215 sqft per seat blended (workstation + circulation + amenity). A 100-headcount real estate office in Lagos typically targets 21,500 sqft of leasable area.

Talent angle

Sponsor and asset-management teams favor trophy CBD addresses with proximity to investment-banking and law-firm tenancy. Deep banking, oil and gas, fintech, and creative talent. Strong English-language professional base. Strong feed from University of Lagos, Lagos Business School, and Covenant University. Nigeria's tech ecosystem (Flutterwave, Paystack, Andela) anchors deep talent.

Tax and lease context

Headline corporate tax: 30%. USD-pegged or naira leases (USD common for international tenants). 2-3 year terms standard with renewal options. Often payable annually or 6-monthly in advance. Free rent of 3-6 months on a 3-year deal.

Key facts

cityLagos
industryReal estate and infrastructure
naics531, 237
preferredSubmarketVictoria Island (VI)
preferredFitoutSpecHigh-end
fitoutBand$430000–640000/sqft
sqftPerSeat215
classARentLocal80000 NGN/sqft/yr
classARentUsd$60/sqft/yr
vacancyPct17.6%
typicalLeaseYears2
typicalRentFreeMonths4
talentIndex74
corporateTaxPct30%

Frequently asked questions

Where do real estate and infrastructure occupiers lease office space in Lagos?
Most cluster in Victoria Island (VI). Rent runs ~80000 NGN/sqft ($60 USD) for trophy and prime stock.
What fit-out spec do real estate and infrastructure occupiers run in Lagos?
Typically high-end at $430000–640000/sqft.
How much office space per seat should a real estate and infrastructure occupier plan in Lagos?
Plan ~215 sqft per seat blended. A 100-person team typically takes 21,500 sqft.
What NAICS codes describe the real estate and infrastructure vertical?
Representative NAICS 2022 codes: 531, 237.
What is the talent index in Lagos?
74/100. Use the city profile for full detail.

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Editorial provenance

Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

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