IBEJU LEKKI- THE FASTEST DEVELOPING AREA IN WEST AFRICA. ECONOMIC HUB OF NIGERIA.
Ibeju Lekki is currently undergoing massive development and is home to many mega projects which include;The Lekki Free Trade Zone (Nigeria’s first private trade zone) ; The Deep-sea port; Dangote Refinery; The New Lagos Island International Airport amongst others.
This is not just going to be the commercial hub of Lagos, it is also going to be the industrial hub of Lagos. With the rate at which these projects are being carried out, cost of land in that area will increase exponentially in few years.
Africa's wealthiest man, Aliko Dangote, has signed a multi-billion dollar deal with banks to finance the building of an oil refinery in Ibeju Lekki, Nigeria.
The refinery would be the largest in Africa, turning Nigeria into a petroleum exporter, he told the BBC.
Watch the interview video here !
Nigeria is Africa's biggest oil producer but lacks refining capacity and has to import most of its fuel. Video
Mr Dangote, a Nigerian who made his fortune in cement, flour and sugar, is worth an estimated $16bn (£10bn) and has topped the Forbes list of Africa's richest men for the past three years.
It is natural for humans to ignore opportunities within their reach until they become too obvious and out of reach. Think about the real estate industry and what has happened over the years.
In the 90’s, a plot of land at Magodo G.R.A that sold for 300,000 to 500,000 Naira now sells for 60 million to 80 million Naira.
A plot of land that sold for 500,000 to N1 million Naira in Lekki Phase 1 (between 2000 and 2002), now sells for nothing less than 100 million Naira in a space of only 14 years.
A plot of land that sold for N100,000 Naira in Ajah in 2002, now sells for N15 million Naira; and the influx of people to the area keeps increasing despite its distance from the lagos mainland.
Lagos is still expanding and the focus is now on Ibeju Lekki; an area most persons call “The Dubai of Africa” or “The New Lagos”.
PROJECTS
Detailed plan for the Lekki Free Trade Zone is here, Watch !
Lekki Free Trade Zone (Lekki FTZ) is a free zone situated at Ibeju Lekki, and covers a total area of about 155 square kilometres. The first phase of the zone has an area of 30 square kilometres, with about 27 square kilometres for urban construction purposes, which would accommodate a total resident population of 120,000. According to the Master Plan, the free zone will be developed into a new modern city within a city with integration of industries, commerce and business, real estate development, warehousing and logistics, tourism, and entertainment.
In the start-up area of the Lekki Free Trade Zone, there will be a Commercial & Logistics Park which will cover a total area of 1.5 square kilometres. The Park is planned to be multi-functional with the integration of commerce, trading, warehousing, and exhibition. According to the Site Plan of the park, large construction works will be built in the park, including the "international commodities & trade centre", the "international exhibition & conversation centre, industrial factory workshops, logistics warehouses, office buildings, hotels and residential apartment buildings, amongst others.
Click to watch video of Lekki Free Trade Zone
Another reason you should consider investing in Ibeju Lekki is the relatively low cost of land in the area compared to other areas in the state.
The cost of getting a plot of land in Ibeju Lekki now is still cheap when compared to other areas of the state.
Depending on the exact location of the piece of land, the development that has taken place and the current title on the land, you can get a plot of land for N1M - N15 million Naira.
In conclusion, if you haven't considered it already, then you should start considering owning at least a plot of land in an area like Ibeju Lekki that holds such promise for the future.
Don't let your Children ask you, Daddy/Mummy, where were you, when people were buying lands in Ibeju lekki?
Talk to us today, on 08066143574 to also take advantage of low budget real estate opportunities with flexible payment, in this axis.
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