Land prices in Ikoyi, Lagos, have reached N6 million per square meter, prompting questions from Olukayode Olusanya, CEO of Oak Holdings, about the economic rationale behind the surge. Olusanya stated that there is no clear economic or scientific basis for the sharp rise in real estate prices in Banana Island. The high prices have raised concerns about affordability and market sustainability. The development highlights the growing cost of premium real estate in Lagos.
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