Comprehensive Guide to Dolphin Estate, Ikoyi: Full Details with Price Breakdown

Dolphin Estate, located in Ikoyi, Lagos, Nigeria, is one of the earliest gated residential communities in the area, developed by HFP Engineering Nigeria for the Lagos State Development and Property Corporation (LSDPC). Situated in the upscale Ikoyi axis, it serves as a residential hub connecting Lagos Island and the Mainland, offering a mix of luxury and mid-class accommodations. Built in the 1990s, the estate comprises three phases: Phase 1 (luxury duplexes), Phase 2 (duplexes and flats), and the High-Rise section (originally for displaced residents). Despite its high rental value due to its strategic location near Victoria Island and Lekki Phase 1, the estate faces challenges with aging infrastructure and drainage issues. This article provides a detailed overview of Dolphin Estate, including its features, amenities, and a complete price breakdown for properties available for sale and rent, based on the latest data as of June 2025.

Overview of Dolphin Estate

Dolphin Estate is a government-owned residential estate in Ikoyi, a highbrow area within the Eti-Osa Local Government Area, known for housing influential Nigerians and expatriates. Developed in the early 1990s on the site of the former Jakande Housing Estate, it was designed to provide affordable yet upscale accommodation. The estate is divided into three sections: Phase 1 (646 four-bedroom duplexes, completed in 1991), Phase 2 (236 four-bedroom duplexes, 440 three-bedroom flats, and 136 two-bedroom flats, completed in 1997), and the High-Rise section (eight blocks of prefabricated flats). Located near key areas like Victoria Island (5-10 minutes) and Lekki Phase 1 (15-20 minutes), it is close to landmarks such as the Lagos Lagoon, Dolphin Estate Plaza, and Sura Shopping Complex. While Phase 1 and 2 cater to upper-middle and high-income earners, the High-Rise section has become a lower-income area with poor maintenance and drainage issues, leading to flooding concerns in 2018 and 2019.

Features and Amenities of Dolphin Estate

Dolphin Estate offers a mix of modern and aging infrastructure, with amenities varying by phase. Key features include:

Security: 24/7 security with a dedicated Dolphin Estate Police Station, CCTV in upscale areas, and controlled access points requiring visitor clearance. Security is stronger in Phases 1 and 2 but weaker in the High-Rise section.
Power Supply: Connected to the Alagbon Electricity Power Station (PHCN substation), with fair electricity supply supplemented by individual generators or inverters. Pay-as-you-go billing is approximately ₦230 per kilowatt.
Water Supply: Boreholes provide water, pumped through a centralized system, though maintenance issues affect the High-Rise section.
Infrastructure: Phase 1 and 2 feature paved roads, some with interlocking tiles, and drainage systems, though blockages cause flooding during heavy rains. The High-Rise section has poor drainage and dilapidated roads.
Recreational Facilities: Limited communal recreational facilities, but green areas exist in Phases 1 and 2. Residents access nearby amenities like Stella Matutina Guest House, Bops Xpress, and Sura Shopping Complex.
Modern Design: Luxury properties in Phases 1 and 2 include fitted kitchens (gas cookers, ovens, heat extractors), POP ceilings, wardrobes, water heaters, and modern sanitary wares. High-Rise flats are basic, with some featuring air conditioning.
Landscaping: Well-maintained in Phases 1 and 2, with poor landscaping in the High-Rise section.
Service Charge: Approximately ₦300,000 – ₦600,000 per annum for Phases 1 and 2, covering security, waste management, and maintenance. High-Rise section has inconsistent waste management.
Proximity: Near Victoria Island, Lekki Phase 1, Banana Island, and Osborne Foreshore Estate, with access to schools (Brainfield Premium Creche, Woodentots Nursery), hospitals (Excel C Medical Centre, Noah’s Ark Clinic), and worship centers (El-Shaddai Bible Church, Dolphin Estate Central Mosque).
Accessibility: Connected via Cooperative Drive, Epe Lane, and Mainland Way, with easy access to Lekki-Epe Expressway and Lagos Lagoon. Tricycles (white-painted) operate within the estate.

Property Types and Price Breakdown

Dolphin Estate offers a range of properties, including duplexes, flats, and land, primarily in Phases 1 and 2, with the High-Rise section offering more affordable flats. Below is a detailed breakdown of properties for sale and rent, based on verified listings from sources like Nigeria Property Centre, PropertyPro Nigeria, and Private Property Nigeria. Note that some listings incorrectly reference Dolphin Estate in Lekki, but this estate is in Ikoyi.

Properties for Sale

4-Bedroom Semi-Detached Duplex with BQ
- Price: ₦300,000,000 – ₦450,000,000 (average: ₦365,000,000)
- Features:
  - 4 en-suite bedrooms with 1-3 room boys’ quarters (BQ)
  - Fully fitted kitchen with microwave, oven, and heat extractor
  - Spacious living area, guest toilet, and modern finishes (POP ceilings, wardrobes, water heaters)
  - 24/7 security, water treatment plant, and parking for 3-4 cars
- Notable Listings:
  - 4-bedroom semi-detached duplex with 3-room BQ at ₦400M, Dolphin Estate, Ikoyi. Title: Governor’s Consent. Contact: The Home Properties (07034194181).
  - 4-bedroom semi-detached duplex with 2-room BQ at ₦370M, Dolphin Estate, Ikoyi. Title: Governor’s Consent. Contact: Solid Ground Properties (08063945729).
  - Fully furnished 4-bedroom semi-detached duplex with 3-room BQ at ₦300M, Dolphin Estate, Ikoyi. Title: C of O. Contact: Laser Estate Services (08033042649).
  - 4-bedroom semi-detached duplex with BQ at ₦350M, Dolphin Estate, Ikoyi. Title: C of O. Contact: Properties Station Limited (08087850228).
- Title: Governor’s Consent or Certificate of Occupancy (C of O)
4-Bedroom Duplex (Ibeju Lekki Street)
- Price: ₦90,000,000
- Features:
  - 4 en-suite bedrooms with 1-room BQ
  - Spacious sitting room, well-decorated compound, and modern finishes
  - 24/7 security, clean water, paved roads, and excellent layout
  - Located in a serene area of the estate
- Notable Listings:
  - 4-bedroom duplex with BQ at ₦90M, Ibeju Lekki Street, Dolphin Estate, Ikoyi. Contact: PropertyPro Nigeria (Ref: 0CDHV).
- Title: Governor’s Consent or C of O
- Note: Listings referencing Ibeju Lekki Street may indicate a mislabeling, as Dolphin Estate is in Ikoyi, not Ibeju Lekki.
Land (446 sqm)
- Price: ₦600,000,000
- Features:
  - Fenced and gated land with a dilapidated building (to be demolished)
  - Suitable for residential or commercial development
  - Located inside Abacha Estate, opposite Dolphin Estate, Ikoyi
  - Secure and serene environment with estate infrastructure
- Notable Listings:
  - 446 sqm land at ₦600M, inside Abacha Estate, opposite Dolphin Estate, Ikoyi. Contact: Lad-chrislord Ltd (07082319551).
- Title: Certificate of Occupancy (C of O)
Commercial Property (Hotel on 2,653 sqm)
- Price: ₦5,000,000,000
- Features:
  - 49-room luxury hotel with swimming pool, gym, restaurants, bar, banquet hall, and deluxe suites
  - 2,653 sqm land with 3,899 sqm letable space
  - 350kVA and 500kVA generators, massive car park
  - Located in Dolphin Estate Extension, Ikoyi
- Notable Listings:
  - 4-star hotel on 6 plots at ₦5B, Dolphin Estate Extension, Ikoyi. Title: C of O. Contact: Nigeria Property Centre.
- Title: Certificate of Occupancy (C of O)

Properties for Rent

1-Bedroom Self-Contain (Shortlet)
- Price: ₦45,000 per day
- Features:
  - Fully furnished studio apartment with fitted kitchen
  - Constant electricity, regular housekeeping, and premium security
  - Stamped concrete floor, luxury lighting, and high-pressure taps
  - Located in Dolphin Estate, Ikoyi (misreferenced as Lekki Phase 1 in some listings)
- Notable Listings:
  - 1-bedroom self-contain shortlet at ₦45,000/day, Dolphin Estate, Ikoyi. Contact: Private Property Nigeria (PID: 7PAWLA).
- Total Package: Varies based on duration
3-Bedroom Flat with BQ
- Price: ₦12,000,000 per annum
- Features:
  - 3 en-suite bedrooms with 1-room BQ
  - Inverter, water treatment plant, solar security lighting
  - Secure and gated estate with 24/7 security
  - Preference for single tenant or shared generator arrangement
- Notable Listings:
  - Two units of 3-bedroom flats with BQ at ₦12M per unit, Dolphin Estate Extension, Ikoyi. Contact: Vallecano Ventures (08027294775).
- Total Package: Approximately ₦15.6M (including 10% agency, 10% legal, ₦500,000 caution, ₦300,000-₦600,000 service charge)
4-Bedroom Semi-Detached Duplex
- Price: ₦12,000,000 per annum
- Features:
  - 4 en-suite bedrooms without BQ
  - Clean, gated estate with constant power and serene location
  - Modern finishes, tiled estate, and parking for 3-4 cars
- Notable Listings:
  - Newly renovated 4-bedroom semi-detached duplex at ₦12M per annum, Dolphin Estate, Ikoyi. Contact: Laser Estate Services (08033042649).
- Total Package: Approximately ₦15.6M (including 10% agency, 10% legal, ₦500,000 caution, ₦300,000-₦600,000 service charge)
2-4 Bedroom Flats (General)
- Price: ₦2,600,000 – ₦3,000,000 per annum
- Features:
  - 2-4 en-suite bedrooms in the High-Rise section
  - Basic finishes with air conditioning in some units
  - Fair power supply and access to estate amenities
  - Suitable for middle-income earners
- Notable Listings:
  - Duplexes and flats at ₦2.6M-₦3M per annum, Dolphin Estate, Ikoyi. Contact: PropertyPro Nigeria.
- Total Package: Approximately ₦3.4M-₦3.9M (including 10% agency, 10% legal, ₦300,000 caution, ₦300,000 service charge)

Price Summary for Dolphin Estate

The price range for properties in Dolphin Estate reflects its status as a highbrow yet varied residential hub in Ikoyi. Below is a summarized breakdown:

For Sale:
- 4-Bedroom Semi-Detached Duplex with BQ: ₦300M – ₦450M (average: ₦365M)
- 4-Bedroom Duplex (Ibeju Lekki Street): ₦90M
- Land (446 sqm): ₦600M
- Commercial Property (Hotel, 2,653 sqm): ₦5B
For Rent:
- 1-Bedroom Self-Contain (Shortlet): ₦45,000/day
- 2-4 Bedroom Flats: ₦2.6M – ₦3M per annum
- 3-Bedroom Flat with BQ: ₦12M per annum
- 4-Bedroom Semi-Detached Duplex: ₦12M per annum
Average Price:
- Sale: ₦365,000,000 (houses in Dolphin Estate, Ikoyi, range: ₦90M – ₦5B).
- Rent: ₦10,000,000 (average for properties, range: ₦30,000 – ₦450M).
Most Expensive Property: ₦5,000,000,000 (luxury hotel).
Cheapest Property: ₦30,000 (unspecified property, likely shortlet).

Why Invest in Dolphin Estate?

Dolphin Estate offers compelling reasons for investment, despite its challenges:

Strategic Location: A buffer between Lagos Island and the Mainland, with proximity to Victoria Island (5-10 minutes) and Lekki Phase 1 (15-20 minutes), ensuring high rental demand.
High ROI: Properties yield 20-30% annual returns due to Ikoyi’s affluent status and demand from expatriates and professionals.
Affordable Luxury: Compared to Banana Island (₦500M+) or Osborne Foreshore (₦400M+), Dolphin Estate offers luxury duplexes at ₦300M-₦450M.
Secure Title: Properties come with Governor’s Consent or Certificate of Occupancy (C of O), reducing legal risks.
Commercial Potential: Proximity to commercial hubs and the presence of businesses like Oryx West Africa and Cormmark Pharmacy indicate growing commercial interest.
Challenges: Aging infrastructure, poor drainage in the High-Rise section, and flooding risks require infrastructure upgrades for sustained value.

Considerations for Buyers and Renters

Title Verification: Ensure properties have Governor’s Consent or C of O. Verify through reputable agents or legal professionals to avoid fraud, given Nigeria’s real estate scam concerns.
Inspection: Contact verified agents like The Home Properties (07034194181), Laser Estate Services (08033042649), or Vallecano Ventures (08027294775) for viewings.
Service Charges: Budget for ₦300,000 – ₦600,000 annually for Phases 1 and 2, though High-Rise maintenance may be inconsistent.
Flooding Concerns: Avoid High-Rise flats due to poor drainage and flooding risks, especially during heavy rains.
Payment Plans: Some properties offer flexible payment plans (e.g., 20-50% deposit, balance over 6-12 months). Contact agents for details.
Market Trends: Property prices in Ikoyi remain high due to demand from diplomats and executives, but Dolphin Estate’s aging infrastructure may limit appreciation unless renovated.

Conclusion

Dolphin Estate, located in Ikoyi, is a historic gated community offering a mix of luxury and mid-class accommodations, with prices ranging from ₦90M for a 4-bedroom duplex to ₦5B for a commercial hotel. Rentals range from ₦2.6M for flats to ₦12M per annum for duplexes, reflecting its highbrow status. Despite challenges like flooding and aging infrastructure in the High-Rise section, its strategic location near Victoria Island and Lekki Phase 1, robust security, and proximity to amenities like Dolphin Estate Plaza make it attractive for investors and residents seeking 20-30% ROI. For the latest listings or inspections, contact trusted agents via Nigeria Property Centre, PropertyPro Nigeria, or Private Property Nigeria, and verify titles to ensure a secure investment in Lagos’ competitive real estate market.

Dolphin Estate Ikoyi (Comprehensive Guide)