By Adebola Isimijola, Lagos

The Managing Director of Frontier Commercial Services Limited, Mr. Olalekan Oseni, has urged investors to shift greater attention to Lagos Mainland, arguing that the corridor is now delivering stronger property appreciation than many traditional investment destinations on the Island.

Oseni stated this while responding to questions from journalists during a press conference ahead of the maiden Mainland Housing Summit scheduled for July 25 in Lagos on Monday.

According to him, while areas such as Lekki, Victoria Island and Ikoyi have historically attracted the bulk of real estate investment, the Mainland is now experiencing rapid growth driven by increasing population, infrastructure expansion and commercial activities.

“If the rate at which people invested on the Island is the same rate at which they invest on the Mainland, the Mainland will not remain the way it is today,” he said.

He noted that the Mainland now accommodates a larger share of Lagos’ population and has witnessed remarkable increases in land values over the past few years.

Oseni disclosed that land in some Mainland locations, which sold for about ₦10 million between 2021 and 2022, now commands between ₦60 million and ₦70 million, describing the appreciation as evidence of the area’s growing investment potential.

He added that investors who acquired properties through his company about five years ago had recorded substantial returns, with some investments appreciating from about ₦100 million to between ₦500 million and ₦600 million.

The Frontier Commercial Services boss explained that the forthcoming Mainland Housing Summit would provide prospective investors with data-driven insights into emerging opportunities while connecting them with developers, manufacturers of building materials, financial institutions and other industry players.

“The major issue people are facing is finance. If people have access to finance, a lot of problems will be solved,” he said.

Commenting on the Federal Government’s recently introduced mortgage financing initiative, MREIF, Oseni welcomed the policy but stressed that its success would depend on how easily Nigerians could access the facility.

“It will definitely help if the process of accessing it is simple and not tedious. But if people spend years processing applications without getting access, it will not achieve the desired impact,” he said.

He also dismissed claims that Lagos was running out of land for development, insisting that several emerging corridors, including Epe, Ibeju-Lekki, Ikorodu and Badagry, remain available for investment but require improved infrastructure to unlock their full potential.

Oseni further advised first-time investors to acquire property as early as possible.

“Your first property should not be your last one. Whatever you can legitimately afford now, go for it. Once people buy their first property, it usually motivates them to acquire more over time,” he said.