Home News Collapsed Ikoyi building was going for N2.85 billion per apartment

Collapsed Ikoyi building was going for N2.85 billion per apartment

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Collapsed Ikoyi building was going for N2.85 billion per apartment

Luxury apartments in the 21-story building that collapsed on Gerrard Road, Ikoyi, Lagos, were being sold for $5 million (N2.85 billion at the prevailing exchange rate of N570/$) per apartment, according to online listings.

A flyer designed for the residential facility indicated that 65 per cent of the penthouses valued at $5 million each had been sold before its collapse.

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Collapsed Ikoyi building was going for N2.85 billion per apartment

However, other listings indicated that there were other low-ranged apartments listed for $1.2 million (N684 million).

An online flyer pitched the building as “Luxury in the Sky.” It was 80 per cent completed prior to the collapse and was expected to start running in 2022.

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