Cruxstone Development, a real estate developer, has stepped up efforts to attract investors and sales partners for its flagship waterfront project, Nautical Rise, as it seeks to position the development as a major lifestyle and tourism destination in Nigeria.
At a stakeholder event held recently in Lagos, the company brought together real estate investors, brokers, and project collaborators in partnership with the Realtor Brokers Forum to deepen market engagement and expand distribution channels for the project.
Cruxstone said the gathering was aimed at building strategic alliances to drive awareness and sales of Nautical Rise, a mixed-use development designed to combine residential, hospitality and leisure offerings within a single waterfront ecosystem.
“We are currently running with our Vision 2030 anchored on Nautical Rise, which is what we are projecting and selling right now,” the Business Manager at Cruxstone Development, Tobi Jolugbo, said. She added that the company is positioning itself as a “destination institution” focused on delivering quality developments and long-term value.
Jolugbo said the firm is working to change perceptions about Nigeria’s real estate sector, which she noted has been affected by credibility concerns, by focusing on execution and tangible results. “Our company is known for doing the work and delivering on its promises,” she said.
She added that Cruxstone is targeting partnerships with brokers and realtors to extend the project’s reach, noting that such collaborators can help promote Nautical Rise to wider markets.
“Our long-term goal is to make this a world-class destination, a place visitors will want to experience when they come to Nigeria,” she said. In the short term, she noted that the beachfront component of the project is already attracting visitors.
Executives said Nautical Rise will feature a mix of high-rise residential towers, beach resorts, chalets and hotels, with a focus on creating a live-work-play environment.
General Manager for Business Development and Strategy at Cruxstone Group, Utibe Bassey, described the project as a “mixed-use destination” that could redefine both the residential and tourism landscape in Lagos and across West Africa.
“What we are creating is an ecosystem that brings together premium living and leisure,” he said, adding that comparable developments are typically found in global cities such as Cape Town, Singapore and Dubai.
Bassey said the company is positioning itself as a pioneer in waterfront developments in Nigeria, noting that while competition exists in the broader real estate sector, few projects currently combine residential and tourism elements at scale.
He also pointed to existing collaborations with public sector partners, including the Lagos State Development and Property Corporation, as part of efforts to deliver large-scale projects.
Head of Business Development and Product Manager at the company, Sulaiman Abu, said the event forms part of a broader strategy to strengthen relationships with external sales partners, particularly realtors who play a key role in driving transactions.
“We believe realtors are a huge part of our success. They have introduced clients to us and helped close deals, so we regularly engage them on our projects and market direction,” he said.
Abu added that despite economic fluctuations, real estate remains one of the most resilient asset classes, urging prospective investors to prioritise due diligence when committing funds.
Industry participants at the event expressed optimism about the project’s prospects, citing its location and integrated design as key selling points.
Real Estate Consultant and Chief Executive of Greyhound Pavilion, Opeyemi Ebagua, said the engagement provided deeper insight into the project, enabling brokers to better position it to clients.
“It gives you the confidence to speak to clients from a point of knowledge,” she said, adding that the development’s beachfront and mixed-use features could appeal to both local and diaspora investors.
Cruxstone also used the platform to call for greater government support for developers, particularly in areas such as financing and policies to improve housing affordability.
Jolugbo said stronger collaboration with government could help scale developments and broaden access across different income segments, noting that while Nautical Rise targets the high-end market, there is a need to support more inclusive housing initiatives.
The company said it will continue to engage partners as it advances the project, with a focus on expanding its footprint in Nigeria’s evolving real estate market.
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