Pelican Valley Nigeria Limited, a leading name in the Nigerian real estate sector, has announced an upward review of land and housing prices across its flagship estates. The company cited massive capital appreciation, fluctuations in the cost of construction materials, and ongoing infrastructural investments as the primary drivers behind the adjustment.
Management confirmed that while the new rates for land acquisitions will officially take effect on March 31, 2026, price increments for housing units have been implemented with immediate effect.
The review affects two of the firm’s most prominent developments in Ogun State. At the Pelican Brief Estate in Kobape, a standard plot of 450 square meters is now valued at ₦17.5 million.
Meanwhile, the premium Pelican Valley Estate in Laderin has seen a significant surge in valuation, reflecting its status as a high-growth corridor. A 450-square-meter plot at Laderin is now priced at ₦57 million, bringing the rate to approximately ₦126,000 per square meter.
The company’s signature “Ecostay” apartments and bungalows—noted for their eco-friendly designs and modern architecture—have also seen a revision in pricing. The new rates are as follows:
1-Bedroom Semi-Detached Bungalow: ₦43,500,000
2-Bedroom Fully Detached Bungalow: ₦65,000,000
3-Bedroom Fully Detached Bungalow: ₦85,000,000
3-Bedroom Semi-Detached Duplex: ₦120,000,000
In a statement addressed to prospective and potential customers, the management emphasized that the review is necessary to maintain the premium quality of the estates.
“We pledge our continuous effort to serve you better and give premium value,” the statement read. “Our goal remains to provide a consistent high return on investment (ROI) for all our subscribers.”
Industry analysts suggest that the price hike is a reflection of the broader inflationary pressures on building materials, combined with the rapid urbanization of the Kobape and Laderin axes, which has made Pelican Valley properties highly sought after by savvy investors.
For further inquiries, the company has directed interested parties to contact their sales office at 08024506873, visit their official website at www.pelicanestate.ng, or reach out via email at pelicanvalleyestate@gmail.com.
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