Sujimoto Group has unveiled plans to build a 49-storey luxury hotel in Lagos, with the proposed Isabella de’ Medici project targeting the title of Nigeria’s tallest luxury hotel.
The development will combine high-end hospitality, leisure facilities and private hotel-suite ownership. According to the company, investors will be able to purchase individual suites for personal use or earn rental income through a professionally managed pool.
The announcement comes as Sujimoto works towards completing Lucrezia by Sujimoto, its luxury residential project on Banana Island, Lagos. The company said homeowners have begun taking possession of their properties.
Named after Isabella de’ Medici of the influential Italian Medici family, the proposed hotel draws inspiration from Renaissance Florence. Sujimoto said the project aims to attract international visitors and strengthen Lagos’s position as a luxury tourism destination.
Isabella de’ Medici Hotel to Feature Luxury Facilities
Sujimoto said the 49-storey development would feature a sculptural KRION façade, international restaurants, luxury boutiques and extensive wellness facilities.
Other proposed attractions include a grand lobby aquarium, a hanging infinity pool on the 35th floor, a private cinema, casino, billiards lounge and sky bar.
The company described the aquarium as potentially the largest hotel-lobby aquarium in Africa. However, the claim has not been independently verified.
Sujimoto said it intends to create a hospitality destination capable of competing with international luxury brands, including Four Seasons, while showcasing African hospitality.
The proposed project also introduces a hotel-suite ownership model that differs from conventional residential property investment.
Sujimoto Sets Hotel Suite Prices at $150,000
According to the company, 45-square-metre deluxe suites will initially cost $150,000 during the pre-launch phase.
Sujimoto said the price could rise to $210,000 when construction begins and potentially reach $600,000 by completion, depending on the construction stage.
Founding investors may also have the opportunity to name their suites after themselves. The company said owners could use their suites for up to 21 days annually, subject to the terms of the proposed rental arrangement.
The remaining time would be available for rental through a professionally managed pool.
Sujimoto projected annual rental income of up to $30,000 from a $150,000 suite. This represents a potential gross yield of 20 per cent before expenses.
The company also projected returns on equity of up to 300 per cent by completion. These figures are estimates, not guaranteed returns. Actual performance would depend on occupancy, operating costs, management fees, market conditions and the final investment terms.
Prospective investors would need to examine the ownership structure, rental arrangements, fees and financial risks before committing funds.
Sujimoto Promises Stronger Financial Controls
Group Managing Director Sijibomi Ogundele said the challenges encountered during the Lucrezia development had influenced the company’s approach to Isabella.
In a personally signed statement, Ogundele acknowledged that rising construction costs, exchange-rate volatility, borrowing obligations and regulatory hurdles had placed pressure on the residential project.
He disclosed that the company installed 112 foundation piles beneath the Banana Island development. However, he admitted that its financing structure had not been adequately protected against economic shocks.
According to Ogundele, Sujimoto plans to apply stricter financial controls to Isabella. These include more prudent borrowing, matching commitments with available funding, introducing safeguards at construction milestones and improving risk assessment.
He also reaffirmed the company’s commitment to completing Lucrezia and meeting its obligations to investors and homeowners.
Lucrezia Experience Shapes New Hotel Project
Lucrezia is a 15-storey luxury residential development featuring four-bedroom maisonettes measuring approximately 600 square metres, alongside premium penthouses.
Sujimoto cited the reported appreciation of one Lucrezia unit, allegedly purchased for about ₦650 million and now attracting an offer of ₦5 billion, as an example of the potential value growth associated with its developments. The figures were provided by the company and were not independently verified in the report.
Ogundele said Isabella was conceived as more than a hotel, with its architecture and leisure facilities intended to attract visitors from around the world.
Sujimoto said the lessons learned from Lucrezia would guide the new project, with greater emphasis on financial discipline, transparency and regular communication with investors.
The company has also developed projects including Leonardo by Sujimoto, Sujimoto Twin Tower and Queen Amina by Sujimoto.
Isabella de’ Medici marks its proposed expansion from luxury residential real estate into large-scale hospitality. However, its delivery timeline, financing arrangements and projected investment returns remain key issues for prospective buyers to assess.