MISA Limited: Ulésh, Ikona and What the Ikoyi Delivery Record Shows

MISA Limited lists twelve completed developments across Ikoyi, Lekki and Ikate on its website, but none of them carries a completion date, and we found no independent report of a handover for any of them. Its flagship current project, Ulésh on Glover Road, Ikoyi, shows how much the published timelines have moved. A market report expected it in the fourth quarter of 2023. The company's own brochure, uploaded in October 2023, said December 2024. The project page now says June 2025, and in September 2026 it still gives the status as "Construction." This piece sets out what MISA says about itself, what outside sources confirm, and what a buyer should ask for.

The company

The website calls the business "MISA Nigeria Limited ... an integrated real estate and property development company specializing in the construction and delivery of high-quality bespoke housing." Its site title uses "MISA Limited," and a listing on Nigeria Property Centre shows "Misa (Nigeria) Limited." The contact page gives two Ikoyi addresses, 46B Glover Road and 6 Olawale Dawodu Road. An older business directory entry that links to the same website gives an address on Allen Avenue, Ikeja, and a founding year of 1996, but the entry is unverified and may be out of date.

We did not locate a Corporate Affairs Commission (CAC) record giving the registered name or RC number, and the website does not print one. With three versions of the name in circulation, a buyer should ask for the CAC certificate and check that the name on it matches the name on the sale contract exactly.

The website does not name its directors or management, and we found no filing or mainstream press report that does. We have therefore not named anyone as running the company.

What MISA says it has built

The developments page lists these as completed: Phoenix; Karmi; Bayview Estate, Ikate Elegushi; 7 Admiralty Waterfront Apartments, Admiralty Road, Lekki Phase 1; Cameron Place, Ikota; Bazaaki, Osborne Phase 2, Ikoyi; Rahama Suites, Osborne 2; Hadetan, Osborne 2; Nicon Town; Barolla, Lekki 1; Talis Apartments, Elegushi; and Kafsa. The homepage separately marks Kafsa, Karmi, Barolla, Tamari Apartments, 7 Admiralty, Bayview Estate, Cameron Place and Bazaaki as sold out.

These are the company's own statements. The list is long and specific, which makes it checkable: a buyer can visit Cameron Place in Ikota or the Osborne Phase 2 buildings and ask residents or the facility manager who built them and when they were handed over.

There is one internal inconsistency. Phoenix is listed as completed on the developments page, while the homepage lists it under "Currently Selling." Both can be true if units in a finished building remain unsold, but a buyer being offered a Phoenix unit should confirm whether it is finished stock or off-plan.

Ulésh: three completion dates

Ulésh is a 15-floor mixed-use building with six floors of parking, seven commercial floors and two residential floors, according to the company's brochure. The brochure and Estate Intel both place it at 47A Glover Road, Ikoyi.

The dates, in order:

- Estate Intel insight by Bisi Adedun (undated on the page): "Ulesh Ikoyi is an ongoing 15-floor mixed-use development located on 47a Glover road." The note says construction began in early 2021 with completion anticipated in Q4 2023, and names MISA as both developer and main contractor.

- MISA brochure, uploaded October 2023: completion "DECEMBER, 2024."

- MISA project page, current: "Status: Construction ... Completion Date: June 2025."

- Nairametrics, 21 August 2025, reporting Knight Frank's Lagos market update, listed "Ulesh Ikoyi with 16,390sqm" among Ikoyi office projects in the pipeline to 2027.

The 16,390 sqm figure matches the lettable area on MISA's project page, so the sources agree on the building and differ only on timing. None of the sources mentions a dispute or a stoppage. For a buyer, the practical point is that the published completion date has already passed while the project page still reads "Construction," so any contract should carry its own handover date and a remedy if it is missed.

The same pattern appears at Ikona, a 12-floor residential building on Glover Road that Estate Intel also attributes to MISA. The homepage promotes it under "Currently Selling," but its project page gives "Property Status: Construction" and "Completion Date: September 2027."

Title and approvals

We found no published Certificate of Occupancy number, Governor's Consent or building approval reference for any MISA project. A buyer should ask for the title document for the specific plot (for Ulésh, 47A Glover Road), have it searched at the Lagos State Lands Registry, and ask for the Lagos State Physical Planning Permit Authority approval for the number of floors being built. The brochure refers to "Sustainability Edge Ratings" and projected energy and water savings. If the building has been certified under a green building scheme, the company should be able to produce the certificate.

We found no record of action against MISA by the SEC, the EFCC, the FCCPC or the Lagos State Real Estate Regulatory Authority, and no reported court case. That is a search result, not a clearance.

Questions to ask before paying

1. What is the exact registered name and RC number of the company signing the contract?

2. For Ulésh and Ikona, what is the current construction stage, and what handover date will be written into the contract?

3. What is the title document for the plot, and is there a planning approval for the full height?

4. For completed buildings on the list, can you speak to the facility manager or a residents' association?

5. Is the unit you are offered finished stock or off-plan?

Our MISA Limited company profile will be updated as documents come in. Bektu records what developers have actually delivered against what they announced, which is the gap this piece is about. For other Lagos developers checked the same way, see our reviews of Seagle Property's Oniru portfolio, Regent Real Estate's Park Towers and Walden and Henry Montego Homes in Ikate.