The biggest factor behind the rapid development in the Ibeju Lekki axis is the Lekki Free Trade Zone, Dangote Refinery.-home to the Dangote Petrochemical Refinery (one of the biggest refineries in Africa), Lekki Deep Seaport, the Lekki International Airport, and several industries. Developments, infrastructure elevate Ibeju Lekki as new investors hub. It remains unimaginable what land prices are like to be in that enclave in the medium to long term when most of the projects come on streams and government’s road infrastructure are completed. This why Ibeju lekki is considered as a real estate investment destination for smart people like you. The bridge when completed will be 38 kilometres long and would run pass Lekki, Baiyeku towns and Langbasa, serving as an alternative route from Lekki to Ikorodu, Ikeja to Ajah and an additional alternative to the Eko, Carter and 3rd Mainland Bridge. How the 2019 Elections affects your Real Estate Investment at Ibeju Lekki, Why LekkiVale Estate is the perfect real estate investment option, Land for Sale: How to choose where to buy land, Land flipping: Eight top ways to make money from your vacant land, Houses for Sale: How to choose the right type of house. This places Ibeju-Lekki as a goldmine to those who key into it. This zone was strategically chosen based on its integrated hub of active roadways, rail and sea links, eliminating all accessibility barriers. Gracias Pearl Estate is another great estate you can buy pieces of land in. In other words, a strong need for expansion is being felt. But despite how important it is, it is the smallest state in the whole of Nigeria, in terms of land area. Lagos State is the centre of commercial activities in Nigeria. Let me analyze why Ibeju lekki, the Lagos State’s Envisioned Smart City, is thought of as a hot real estate investment destination. For those who have little understanding of the meaning of free trade zone, a free trade zone is an area in a country, where business policies are more favourable for businesses, both local and international businesses. Top 13+ Real Estate Companies in Lagos Nigeria [with PICTURES], Real Estate Investing: How Franchising Can Help You Win the Game. I recently got featured to talk about business on PUNCH and How I work on TECHPOINT. So to put in simpler terms, this means pieces of land bought now would have appreciated massively in the next 5 to 10 years. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window). Experts forecast that in the next 10-15 years, a plot of land at Ibeju-Lekki will be selling for over N45 million. You’d have to pay for survey, development, and deed of assignment. The refinery is expected to take off in a few years and spur massive growth in the area. It was due to this pressing need that birthed the Dangote Refinery. The name of the Local government was derived from two autonomous communities, Ibeju and Lekki. Bode Agoro, allayed the residents’ fear of being exploited by the government. Presently, only about 20 percent of the available space around the area is being utilized and injection of investments in the region is set to transform the existing environs into a highly industrialized area with mixed-use developments, leading to rapid economic growth, increased migration rate and creation of about 300,000 jobs. Pieces of land bought during this period have the potential of appreciating by as much as 1,000 per cent, in 10 years time. And as for the 6-month instalment plan, you’d have to pay N950,000 per 600 sqm. Its […] Related Articles. If any time is the best to invest in Ibeju Lekki, it is now. Investing in a location without prior and proper knowledge of the neighbourhood is a recipe for taking too much risk. It is located at the Ibeju-Lekki Local Government Area, covering about 155 square kilometres. As they say, the best time to invest in real estate is always 5 years ago and the next best time is now. Know Ibeju Lekki local Government Area At A Glance, Land Banking: Your Best Bet In Time Of Crisis Like This, How to Protect Yourself from the Coronavirus Phobia, Real Estate Quotes By Successful Investors, Is Still Real Estate Still Evergreen? by sevicpdc | Nov 13, 2018 | Investment, Real Estate | 0 comments. The new bridge is expected to improve the natural flow of people and vehicles. With its well-planned development and promotion, the Lagos Free Trade Zone is an investment platform riding on the merits of strategic location, sound infrastructure, natural resources, and attractive incentives. Gracias Next Generation Estate is currently one of the best places to buy a piece of land in Ibeju Lekki. However, the plan to expand the commercial area of Lagos has caused this local government area to become one of the fastest-growing places in Nigeria. You don’t have to spend an extra naira on landfilling. Although there are several others, these are the prominent ones. This part of the state is fast becoming the go-to area for real estate developers and potential investors due to the recent amount of developments in the area. The new bridge is expected to improve the natural flow of people and vehicles. In the business of real estate, location is everything! Lagos is the most expensive city to rent a house in West Africa. also compelling, especially for savvy and patient investors with long term view of the property market. The representative of the Oba of Ito-Omu, Akogun Fatai Kosoko, said the exercise was long overdue “as only Ito-Omu and its adjoining communities that are yet to be developed and connected to the main network of roads coming into Ibeju Lekki and Epe axis.”The Nation, Your email address will not be published. The real estate market in Nigeria is no different from others all over the world. And if you’d love to make an investment that would pay off massively in the next 5 to 10 years, then this is the right time to secure a piece of land in the area. The Lekki Free Zone’s completion date is set in 2022, and it’s projected to create 300,000 direct jobs and 600,000 indirect jobs. Read more: How the 2019 Elections affects your Real Estate Investment at Ibeju Lekki. I agree that my submitted data is being collected and stored. Blessed Plaza, 100, Adeba Road,Off KM 38, Lekki-Epe Expressway, Ibeju-Lekki. Ibeju-Lekki is located close to Eleko Beach, Nike Art Centre as well as the Lekki Conservation Centre. To crown it all, the Chief Executive Officer of Smart City Dubai LLC, Mr. Jabber Bin Hafez signed the MOU, which would make Lagos the home of the very first Smart City in Africa. The local government Ibeju-Lekki was created from Ibeju and Lekki which are two autonomous communities. Roads infrastructure, particularly, remains a major driver of real estate investment and development as it helps to lower the cost of construction by as much as 30 percent. Besides all these massive industrial development in Ibeju Lekki axis, one factor that makes investing in real estate at Ibeju Lekki an absolutely ultimate deal is the growing Lagos Population Growth. Land Sizes in Nigeria: Plots, Acres & Hectares [ in 2020], How To Invest in Land - Your A-Z Handbook. Now let’s take a deeper look at each of these projects: The Lagos Free Trade Zone is a private-owned free trade zone in Nigeria. With discounts on 10 plots and up available. After the commissioning of the zone by the president, a lot of people are already asking if we have anything to offer. The 300,000 jobs to be created are potential sources of demand for real estate assets as all of these workers will be needing residential and commercial real estate for living, working and even for leisure. Designed to serve as an integrated hub with active roads, rails and sea links, the Lagos Free Trade Zone is set to open up the investment, business and tourism potential of Nigeria to the world. The airport is designed to handle five million passengers p/a with scope for future expansion. The event was presided and witnessed by the Lagos State Governor, Mr Akinwunmi Ambode. Your email address will not be published. Render and spread quality services that promote excellence and values in the real estate market by developing home base abilities and competencies, resulting in valuable addition to the Nigeria Real Estate Sector. And with every day that passes, the ROI diminishes. This project is projected to cost N844billion and is expected to be delivered in three years. Government To Open Ibeju Lekki For Development September 5, 2020 Lekki News Lagos State Government has unveiled plans to open new towns in Ito-Omu and its adjoining communities in Ibeju-Lekki Local Council Development Area (LCDA), to fast track development. Ready to invest in Ibeju-Lekki? It has fast become one of the most sought after locations for real estate developers, investors and other industry experts. Lost your password? What is Land Banking? Land Banking is the process of buying and holding land for future sale or... Ibeju Lekki Local Government Area At a Glance Ibeju Lekki Local Government Area (a hot real... What is The Price of Land in Ibeju Lekki? Its character, stature and value have undergone dramatic change by virtue of the massive developments and infrastructure provision taking place there. And in the next few decades, the population of the state is expected to grow a lot higher. But despite how populous and small the state is, only a fraction of its land is being taken full advantage of. What is Excision? It is the only Nigerian newspaper with a bureau in Accra, Ghana. Select menu item. Close market watchers estimate that in the 10 years, Ibeju Lekki may turn out to be another Banana Island in terms of property value, hence the wisdom in moving cash to that part of town for investment in either land or housing or both. And if you buy up to six plots of land, you get one plot for free. If yes, then here are some proofs: For people who have a hard-time believing, Ibeju Lekki would be a great investment, first and foremost, I’d like to state that Africa’s richest man, Aliko Dangote, has secured a very large piece of land in this area. There actually are, and finding them should be little or no problem. Knowing where to invest is one thing, choosing the team to work with to realize your investment goals is another. The Lekki International Airport He assured them of government’s cooperation and partnership in the development of the area. Lagos State Government has unveiled plans to open new towns in Ito-Omu and its adjoining communities in Ibeju-Lekki Local Council Govt to open Ibeju Lekki for development - … Federal Government is also doing its bit by the re-habilitation and reconstruction of Benin-Shagamu road and Lagos-Ibadan Expressway to enhance the distribution of over 35 percent of farm produce from the zone to the hinterland. Ibeji Lekki is home to one of Africa’s largest free trade zones—the Lekki Free Trade Zone (LFTZ). Click here to find out more. [ANSWERED], 5 Things You Want from Your Real Estate App Developer, Pole Barn Homes – All Info Needed with [Pictures], 4 Tips You Can Use to Launch a Successful Property.