Strategic Real Estate Investors to Watch in Nigeria

Nigeria is not for the faint-hearted—but it’s exactly this complexity that makes it such a high-reward real estate market. As Africa’s most populous nation and its largest economy, Nigeria is home to over 220 million people, with an urbanisation rate topping 4% annually. Lagos alone is adding roughly 600,000 residents each year. Combine that with a chronic housing deficit of over 17 million units, a booming middle class, and a demand surge for commercial, retail, and logistics assets—and you’ve got a real estate ecosystem that continues to draw in both local and foreign capital, despite structural hurdles.

The smart money is deploying into build-to-rent, residential estates, branded hospitality, warehousing, and increasingly, proptech. If you’re building, raising, or structuring a deal in Nigeria—these are the investors you want on your radar.

• UPDC Plc – One of Nigeria’s oldest real estate investment companies, UPDC is behind landmark residential and mixed-use projects like Metro City, Pinnock Beach Estate, and Victoria Mall Plaza. Backed by Custodian Investment Plc, they focus on mid-to-high-end developments and joint venture land structures.
• NGREIT – Nigeria’s first listed real estate investment trust. NGREIT holds income-generating assets in Lagos and Abuja, including commercial offices and retail centres. They’ve co-invested with Alpha Mead and are exploring student housing as a new vertical.
• Africa Finance Corporation (AFC) – Pan-African infrastructure and real estate investor. AFC has backed large-scale housing, logistics, and commercial PPPs across Nigeria, including the Abuja Technology Village. Known for structured finance and long-hold capital.
• Trilomo International – A Lagos-based private investor group, Trilomo specialises in luxury residential in Ikoyi and VI. They recently funded a 32-unit high-rise in Banana Island and are active in land acquisition for waterfront redevelopment.
• Octo5 Holdings – The company behind the Ocean Bay Estate and The Relish Apartments. Octo5 is one of the most innovative residential developers in Nigeria, investing in modular housing and property tech. Founded by Babajide Odusolu, formerly of Lagos State Development and Property Corporation.
• Merita Building Partners – A boutique Lagos-based real estate investor focused on mid-market housing and off-plan co-financing. They’ve backed developments in Sangotedo and Lekki and frequently structure profit-sharing deals with landowners.
• Sterling Bank (Alternative Investment Division) – Through its Housing & Real Estate Desk, Sterling Bank has backed multiple developer-led projects, especially affordable housing near Lagos-Ibadan expressway. Partners with private equity firms on off-balance sheet housing finance.
• PENCOM Regulated Pension Funds – Through fund managers like ARM, Sigma, and Stanbic IBTC Pensions, Nigerian pension funds have started allocating capital to real estate, primarily through REITs and long-term development trusts. They’re increasingly active in financing commercial and logistics parks.
• Africa Residences – A real estate development and investment platform focused on luxury and short-let properties in Lagos. Their portfolio includes Ikoyi Signature Residences and multiple Airbnb-ready assets in Lekki Phase 1. Funded by diaspora Nigerians and Dubai-based LPs.
• LandWey Investment – A major residential developer with mass-market appeal. Their projects span from Epe to Ajah, with a strong digital sales funnel. They have structured co-GP arrangements with smaller developers and operate an in-house fund, WeyMoney, to bridge funding gaps.
• Shelternest Ventures – Known for its co-development model, Shelternest partners with landowners to build mid-rise apartments and terraces in Lagos suburbs. They’ve completed projects in Surulere and Anthony Village and are expanding into Abuja’s Life Camp area.
• FSDH Capital – This merchant bank has a real estate desk that backs income-generating commercial properties and student housing. FSDH recently structured a N5bn private real estate fund to support Lagos-based developers.
• Greenpark Capital – Focused on gated community developments in Lagos and Ogun State. They offer land-backed equity investments to diaspora clients and operate on an investor-participation model for each project phase.
• Heritage Capital Markets – The real estate advisory arm of Heritage Bank, Heritage Capital backs PPPs and commercial estate development deals in Abuja and Port Harcourt. They are actively raising for a logistics hub along the Lagos-Badagry corridor.
• KyleBuild – A rising development and investment firm targeting the BTR market in Lagos mainland. They offer co-investment slots for projects around Yaba and Ogudu, and are experimenting with fractional ownership structures.
• Stanbic IBTC Asset Management – Manages Nigeria’s first REIT and is currently expanding its exposure to logistics and income-producing housing. Stanbic has also backed Proptech Nigeria and hosted developer pitch sessions for structured housing bonds.
• Pinnacle Real Estate Development – Behind the Eleganza Garden City and Royal Pines Estate in Lekki. The firm is privately funded by local HNWIs and is now expanding into retail plaza development in Ogun State and Edo.
• PropVest Africa – A proptech-driven investment platform enabling group investing in Nigerian real estate. The company crowdsources capital for off-plan and co-development deals. Recent projects include co-financing of a mini-estate in Magodo and a logistics warehouse in Lagos-Ibadan corridor.
• ADO Living – Eco-conscious real estate company building mid-income housing with sustainable infrastructure. Their projects around Lekki Free Trade Zone and Abijo have attracted co-investors from the Nigerian diaspora.
• Blue Chip Investment Group – A private equity real estate firm focused on commercial developments and luxury apartment blocks in Lagos and Abuja. Blue Chip is active in office-to-resi conversions in Victoria Island and exploring student housing in university clusters.

Emerging proptech startups like Spleet (rent-now-pay-later), RentSmallSmall (digital rentals), and Estate Intel (market data and benchmarking) are helping to unlock new efficiencies in Nigeria’s fragmented real estate value chain. These platforms are increasingly gaining interest from both local and international capital, and in some cases, even partnering directly with developers and landlords to digitise leasing, property management, and tenant finance.

Nigeria’s property market may be bumpy, but it’s booming. With youth-driven demand, land value appreciation, and a widening investor base—including fintech-backed wallets and diaspora LPs—real estate is once again proving it’s one of the most durable and dynamic asset classes in the country.