IKOYI OFFICE MARKET RENT EVOLUTION
With less than 25% vacancy rate, Ikoyi Office Market is yet to Stay Up and Close to pre-2015 market experience.
The rental income upsurge of prime-grade office space in Ikoyi and Victoria Island Office Market in 2008 to 2012 was more than a catalyst that gave rise to the construction of quality and prime-grade office buildings with exceptional users' experience and a world-class management set-up within the Lagos Office Market.
Despite having the best-of-the-market rental rate and growth and a better vacancy rate outlook (at less than 25%), Ikoyi Office Market is yet to rid itself from the negative effects of recessions of 2016 to 2017 and the pandemic-led changes of 2020.
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Just like 'will exam holds' rhetoric amongst the Obafemi Awolowo University students, will Ikoyi Office Market in 2022 go beyond the 2012 market experience and performance?
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