Pelican Valley Nigeria Limited, a leading player in Nigeria’s real estate sector, has announced an upward review of land and housing prices across its flagship estates in Ogun State.
The company attributed the adjustment to massive capital appreciation, rising costs of construction materials, and ongoing infrastructural investments within its developments.
Management confirmed that while the new rates for land acquisitions will officially take effect on March 31, 2026, price increases for housing units have already taken effect.
The review affects two of the firm’s most prominent developments in Ogun State.
At Pelican Brief Estate in Kobape, a standard plot measuring 450 square metres is now priced at ₦17.5 million.
Meanwhile, the premium Pelican Valley Estate in Laderin has witnessed a significant surge in valuation, reflecting its status as a fast-growing real estate corridor. A 450-square-metre plot in the estate is now priced at ₦57 million, translating to about ₦126,000 per square metre.
The company’s signature “Ecostay” apartments and bungalows — known for their eco-friendly designs and modern architecture — have also undergone a price review.
In a statement addressed to prospective customers, the management said the review became necessary to sustain the premium quality of the estates
“We pledge our continuous effort to serve you better and deliver premium value,” the statement read. “Our goal remains to provide consistent high returns on investment (ROI) for all our subscribers.”
Industry analysts say the price increase reflects broader inflationary pressures on building materials, coupled with the rapid urbanisation of the Kobape and Laderin axes, which has made Pelican Valley properties highly sought after by investors.
