CASE STUDY: ESFER INVEST CORP

CASE STUDY: ESFER INVEST CORP — REDEFINING LUXURY RESIDENTIAL INVESTMENT IN OLD IKOYI

Client Overview

Esfer Invest Corp is a diversified investment firm with growing interests in high-end residential real estate across Nigeria. The firm identified a 10,000 sqm parcel in Old Ikoyi, Lagos, for a potential luxury mini-estate development, a project aimed at strengthening its footprint in one of the country’s most exclusive neighbourhoods.
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The Challenge

While the site presented a premium location, Esfer required expert validation of its development potential. The client sought independent analysis to:

• Assess the site’s suitability and development constraints.
  
  
• Validate assumptions on pricing, absorption, and market depth.
  
  
• Define a differentiated product and positioning strategy within Old Ikoyi’s highly competitive luxury segment.
  
  
• Ensure the financial and design concepts aligned with investor expectations and long-term returns.

Our Approach

Fortren & Company was engaged as Strategic Advisory Partner to conduct a comprehensive feasibility and positioning study over an eight-week period. Our scope covered every layer of development analysis, from concept validation to strategic execution.

1. Site & Market Analysis

We undertook a detailed assessment of the 10,000 sqm parcel, evaluating access, environmental context, and comparative developments within Old Ikoyi. This was complemented by a market study benchmarking pricing, absorption rates, and buyer preferences in Lagos’s luxury segment.

2. Highest & Best Use Study

Using both quantitative and qualitative filters, we modelled multiple development scenarios to identify the most financially and functionally optimal scheme for the site, balancing exclusivity with achievable density and market depth.

3. Financial Modeling

Our financial model integrated cost benchmarking, sensitivity testing, and scenario-based returns to evaluate project viability under various investment and phasing assumptions.

4. Strategic Positioning & Team Recommendation

We defined the project’s strategic positioning, crafting a product vision anchored on contemporary luxury, privacy, and lifestyle design. We also advised on a shortlist of architects, quantity surveyors, and project managers aligned with the desired product standard.

The Outcome

The engagement provided Esfer with a clear, data-backed foundation for decision-making. The study validated the project’s feasibility, refined the development concept, and offered actionable insights for investor alignment and team selection.
Fortren’s integrated advisory helped Esfer reposition the project as a benchmark for luxury residential living in Old Ikoyi, setting the tone for a more structured and insight-driven approach to real estate investment.
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Key Results

• Delivered a comprehensive market and financial validation of the proposed site.
  
  
• Defined an optimal product and pricing strategy aligned with market realities.
  
  
• Recommended a project team to execute at the highest design and delivery standards.
  
  
• Provided a decision-ready investment framework that guided next-stage execution.
  
  

Client Reflection

“Fortren’s process gave us absolute clarity, from numbers to strategy. They helped us validate our assumptions, identify hidden risks, and structure a winning development concept that will stand out in Old Ikoyi.”
Mohammed, Co-MD, Esfer Invest Corp

Fortren & Company Insight

In luxury real estate, success begins with clarity, clarity of vision, market, and financial reality.
At Fortren & Company, we help developers and investors unlock value through data-driven feasibility, strategic positioning, and execution advisory, transforming bold ideas into bankable opportunities.

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