Real Estate Firm Targets Over 80 Short-let Apartments

Real Estate Firm, Edala Development has announced plans to expand its hospitality portfolio with the delivery of more than 55 additional shortlet apartment units across Lagos over the next four months, following the completion of its newly launched Regal Apartments project.

The planned expansion will increase the company’s inventory to more than 80 shortlet apartment units, underscoring its growing investment in Lagos’ expanding short-term accommodation market. Demand for professionally managed short-stay apartments has continued to rise, driven by increased business travel, tourism, digital nomads and shifting consumer accommodation preferences.

One of the company’s latest developments, Regal Apartments, consists of 26 apartment units.

The additional projects are scheduled for completion across key locations in Lagos within the next few months.

Edala Development’s portfolio currently comprises Urban Suite, Regal Apartments, The MarQ, Declan Residence, Capital Suite and Montessa, with properties strategically located in Ikeja, Surulere, Yaba and Lekki.

The new apartments will be operated under the company’s hospitality brand, Lodge and Loft by Edala, as part of its strategy to expand access to professionally managed short-stay accommodation across the state.

Commenting on the expansion, the chief executive Officer of Edala Development, Temidayo Oloyede, described the milestone as a reflection of the company’s long-term vision for Nigeria’s hospitality and real estate industries.

“Crossing the 80-unit mark represents more than growth in numbers. It reflects our confidence in the future of Lagos and our commitment to building hospitality experiences that combine quality, consistency and exceptional service. As demand for professionally managed shortlet apartments continues to grow, we are investing deliberately to meet that demand while creating value for our guests and investors,” Oloyede said.

Also speaking, the Chief Operating Officer of Edala Development, Samuel Olatunde, said the company’s expansion strategy is focused not only on increasing capacity but also on maintaining service excellence across its properties.

“Our priority has always been operational excellence. As we expand, we are strengthening our systems, processes and service standards to ensure every Lodge and Loft by Edala property delivers the same premium experience guests have come to expect. We believe professionally managed short-stay accommodation will continue to play a significant role in the evolution of Lagos’ hospitality ecosystem,” Olatunde said.

The expansion comes at a time when Lagos’ shortlet market is witnessing heightened investor interest, supported by increasing demand for flexible accommodation, professionally managed rental properties and alternative hospitality offerings.

As business travel, tourism and domestic mobility continue to recover and expand, operators are scaling up investments to meet evolving customer needs while enhancing service standards across the sector.