5 reasons to invest in Ibeju Lekki Real Estate
5 reasons to invest in Ibeju Lekki Real Estate
Location is one of the key determinants of the value of a property. Going by this principle, you should
invest your money in properties in Lekki, Ikoyi, Victoria Island and other “high-class” areas but
here I am trying to convince you to buy land in Ibeju Lekki. Crazy right? well it is and with good reason
so I suggest you hear me out.
Foresight is needed in any kind of business, real estate included, this is why a bunch of crazy people bought land in Maroko and today that slum has become Lekki Phase 1, one of the most expensive areas in Lagos. People who had foresight and invested early in Lekki have now reaped the rewards of their investments.
Here are four upcoming projects/reasons you should invest in Ibeju Lekki:
Fourth Mainland Bridge:
Lagos is a city of opportunities and activities thus making it the business hub of Nigeria which is why people migrate to the city on a daily basis, although it is great to see new faces and interact with new cultures, a major impact of this migration rate is overpopulation reflected in traffic congestion, so the more alternate routes created by the government should make movement easier for the population.
It is common knowledge that the Ibeju Lekki axis suffers from traffic congestion as most people
commute back and forth for various reasons such as people residing far from their office and
The 4 th mainland bridge is a proposed state of the art 3km bridge like its predecessors
(Eko, Carter, 3 rd ) will connect the island with the mainland. Although the path of the bridge is not
entirely clear it has been made known that the bridge will link the Ajah axis to Ikorodu thus
making life easier for people commute back and forth between both area.
The project is still in a conceptual phase as there have been a lot of controversy around it with
the Lagos State government cancelling a Memorandum of Understanding signed with
contractors and investors for the off taking of the project in the middle of 2017 on grounds of
delay on the path of the investors and since then the Lagos State government has been on a
search for new investors but rumors surfaced before the end of 2017 that they may have found
new potential investors and are currently finalizing agreements, whether the rumors are true or
not it is obvious that this bridge is a priority to the Lagos State government.
For those not familiar with this term, it is a business region free from custom duties and some other forms of taxes designed to encourage businesses and investors.
The Lekki Free Trade Zone is a free zone situated at Ibeju Lekki, which covers a total area of
about 155 square kilometers. The Concept is to build a new modern city within a city with
integration of industries, commerce and business, real estate development, warehousing and
logistics, tourism, and entertainment.
The project is to attract investors and companies as most suffer the burden of paying excessive
duties which could be discouraging when undergoing large projects that require a lot of capital.
One of the off takers of this project are Dangote who is currently building an oil refinery within
this zone which gives you an idea of the magnitude of this project and its proposed impact on
3. Lekki Deep Sea Port:
This has been the Federal government’s new drive as it is part of its Economic Recovery and
Growth plan. There are five of these projects currently listed as on going in different parts of
Nigeria; Lagos, Akwa Ibom, Ondo/Ogun, Delta and Bayelsa. Due to rising maritime demands
Nigeria can no longer rely only on its existing sea ports creating a need for more and the Federal
Government has identified this which will boost the Nigerian economy through imports and
exports. The seaport is also an avenue for job creation which is one of the key reasons they are keen on
implementing this project as the foundation.
4. Lekki International airport:
Surrounded by a lot of controversy, the Lekki Airport is another one of the projects that is set to be built within the Lekki Free Trade Zone. The introduction of a new international airport has a lot of advantages that the Government wishes to key into.
5. Rapid growth in the area:
The eastern part of Lagos is seen as one of the fastest growing areas in Africa if not the fastest, Lekki to Epe mostly. The rate at which development is occurring in this region can be described as monumental as new structures spring up over night. There has been a massive influx of people and business in the area having residential estates and office complexes sprouting all around with an increase in recreational centers, malls, hospitality companies, restaurants and a host of activities to be done making it a convenient residential area.
With these upcoming projects there will be a massive increase in development which will make land
in Ibeju Lekki a gold mine in a few years. If you can afford to buy a land now what are you waiting for?
Checkout great properties for sale in Ibeju Lekki. “Those that danced were thought crazy by those who could not hear the music”.