The festive season of December 2024 in Nigeria was nothing short of extraordinary. While it’s typical for the country to welcome an influx of visitors during the end-of-year festivities, 2024 set a remarkable record. Between November 19 and December 26, a staggering 550,000 inbound passengers were processed by the Murtala Mohammed International Airport, as highlighted by an article in African Forbes.
According to the same African Forbes article, in Lagos alone, over 1.2 million tourists flocked to the city, driving hotel bookings to an estimated 15,000 reservations, with profits soaring to ₦54 billion ($36 million). Short-term rental apartments, commonly referred to as “shortlets,” also experienced a boom, with 6,000 bookings generating an estimated ₦21 billion ($13 million) in revenue.
This is just the tip of the iceberg. These figures exclude the substantial earnings from nightclubs, beaches, event centers, lounges, and other entertainment venues.
Asking the Big Questions
As a Lagos resident—whether a common man or a businessperson—you may be pondering the same questions I am:
- How much of this money made its way into my pocket?
- Will Lagos experience another financial windfall like this?
- Most importantly, how do I position myself to benefit from future opportunities?
If you’ve asked yourself these questions too, then let’s dive deeper.
The Common Denominator: Real Estate
One undeniable factor unites all the businesses that thrived during this influx: Real Estate.
Yes, you read that right—real estate lies at the heart of the revenue surge. Apartments, lounges, event centers, nightclubs, and other venues that hosted the festive crowd are all rooted in real estate investments.
Lagos was stretched to its limits, particularly on the Island, where accommodations were fully booked and property prices increased. For instance, a one-bedroom shortlet apartment averaged ₦120,000 per night during the season. Imagine the earnings from being fully booked for two months!
Is This a One-Time Event?
If you think this was a one-off phenomenon, it’s time to rethink. Lagos has become one of the most sought-after holiday destinations for Nigerians in the diaspora, and this trend shows no signs of slowing down. The influx of visitors is set to grow even more in 2025 and beyond.
How to Position Yourself
With this knowledge, the question now is: How do you position yourself to benefit from the opportunities ahead? The answer is simple: Invest in Real Estate.
Owning real estate, especially in high-demand areas, can give you a front-row seat to financial opportunities during peak seasons like December. And if you’re wondering where to start, here are some prime options to consider:
Standout Properties Limited
A leading real estate and construction company, Standout Properties Limited is behind some of the most strategic developments in Lagos. Our properties are designed to cater to the booming demand for premium apartments.
Featured Properties
- MIJL Estate and Residences: Strategically located around Lekki, offering fully finished, unique apartments.
- Bloom Haven Residences: Chisco Elegushi, Lagos.
- Bloom Residences: Osapa London, Lagos.
- Bloom Towers: Oniru, Victoria Island, Lagos.
- Cynergy Gardens: Ibeju Lekki, Lagos.
- Bryan’s Court: Osubi, Warri, Delta State.
The Time to Act is Now
With Lagos cementing its place as a global holiday destination, there’s no better time to invest in real estate than now. Whether it’s short-term rentals, luxury apartments, or commercial spaces, the opportunities are abundant. Don’t wait for another Detty December to pass you by—position yourself to profit from the next wave.
If you’re ready to explore these opportunities, Standout Properties Limited is here to guide you every step of the way.