LucreziaBySujimoto: We’re redefining luxury living in Africa – Sijibomi Ogundele

The Lucrezia, a high-rise residential tower in Banana Island developed by Sujimoto Group, has become one of the most talked-about projects in Nigeria’s luxury property market. Unlike several developments in Ikoyi that struggle with occupancy, the Lucrezia has attracted strong demand, with many units already sold to a mix of local and international buyers, including […]

The Lucrezia, a high-rise residential tower in Banana Island developed by Sujimoto Group, has become one of the most talked-about projects in Nigeria’s luxury property market.

Unlike several developments in Ikoyi that struggle with occupancy, the Lucrezia has attracted strong demand, with many units already sold to a mix of local and international buyers, including investors and public figures.

The project offers a range of features such as a spa, private cinema, electric vehicle charging stations, infinity pool, and high-level security systems. Its design incorporates imported finishing materials and modern engineering, with the developer describing it as an attempt to raise construction standards in the country.

According to Sujimoto, units initially priced at around $850,000 have appreciated significantly, with current valuations reaching about $2.5 million. Industry analysts say this reflects the continued rise in demand for prime real estate in Banana Island, where limited land supply has driven up values.

The building draws architectural inspiration from Lucrezia de’ Medici, a 16th-century Italian duchess, and incorporates contemporary elements such as glass-reinforced concrete, eco-friendly systems, and a golf simulator.

Located in what is often described as Nigeria’s most exclusive neighbourhood, Banana Island is home to several prominent business leaders and entertainers. The enclave’s reputation for security and prestige has made it one of the most expensive addresses in Africa.

The Lucrezia is scheduled for completion in late 2025, and observers in the sector say it may further influence the standards and pricing of luxury developments in Lagos.