Experts forecast that in the next 5-15 years, a plot of land at Ibeju-Lekki, with proximity to the developments ongoing presently, will be selling for over N150 million.
Ibeju-Lekki is regarded as the next hot spot in Lagos State, especially in terms of development. It has fast become one of the most sought after locations for real estate developers, investors and other industry experts. The local government ‘Ibeju-Lekki’ was created from Ibeju and Lekki which are two autonomous communities.
In the business of real estate, location is everything! It determines how well, or badly, an investment does. The real estate market in Nigeria is no different from others all over the world. The potential amount of your investment depends heavily on its location. While we might argue that the likes of Ikoyi, Victoria Island, Lekki and other areas in the Lagos Mainland are the major markets, we often forget one place – Ibeju Lekki. 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. Ibeju-Lekki is favourably situated in proximity to prime development projects such as Dangote refinery, Lekki Free Trade Zone, a seaport, the Pan-African University and much more.
Let’s cut to the chase; In real estate, information is key. Investing in a location without prior and proper knowledge of the neighbourhood is a recipe for taking too much risk. It is always advisable to acquire all the information available especially in terms of property appreciation in the future. So if you are asking; “why should I buy a property in Ibeju-Lekki?”, then this article is right for you. And here are a couple of reasons why you should invest and be part of the Ibeju-Lekki Development:
• Prospects of Industrialization
• Property Appreciation
• Prime Location
• Expansion of road networks
Prospects of Industrialization
The projected developments that are under construction in Ibeju-Lekki are majorly top government and private projects. Some of which include the Dangote Refinery worth about $9 billion, the New International Airport, Lekki Golf Course, Pan-Atlantic University Lagos-Kano rail line, Alaro Modern City, Ibeju Lekki Smart City, the Lekki Free Trade Zone and the deep sea port. Although there are several others, these are the prominent ones.
It goes without saying that an increase in the development of a particular area causing an equal increase in property appreciation. As mentioned earlier, the on-going projects in the area have made it a prime location for real estate investors. This is because there is a guarantee of at least 300% returns on investment made. This places Ibeju-Lekki as a goldmine to those who key into it. Due to the high rate of construction activities in the area, the prices and demand for properties are increasing at a high rate.
Ibeju-Lekki is a cynosure in the midst of other real estate location in Lagos Nigeria. It is favourably situated in proximity to the city centre. Investing in Ibeju-Lekki whether for personal residence or for commercial purpose keeps your property at the peak of the action. Ibeju-Lekki is located close to Eleko Beach, Nike Art Centre as well as the Lekki Conservation Centre.
Expansion of Road Networks
There are on-going plans by the Lagos State government to make the Lekki-Epe Expressway a 10 lane road to connect to other major roads in Ikorodu, Itokin as well as Ijebu-Ode. Ibeju-Lekki is arguably one of the fastest growing neighbourhoods in Lagos State with a good number of opulent Estates completed and under construction. This has also prompted the plans to expand the road networks for better accessibility.
This article is a review based on the on-going developments that will come to fruition in the next 1-15 years. An investment in Ibeju-Lekki is undoubtedly a secure way to create wealth in years to come. As they say, the best time to invest in real estate is always 5 years ago and the next best time is now.
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