IBEJU-LEKKI LANDS FOR SALE: 8 THINGS TO CONSIDER BEFORE BUYING/SELLING LAND IN IBEJU LEKKI

IBEJU-LEKKI LANDS FOR SALE: 8 THINGS TO CONSIDER BEFORE BUYING/SELLING LAND IN IBEJU LEKKI

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I know you have obviously heard of LEKKI PHASE 1, LEKKI AJAH, LEKKI SANGOTEDO and now IBEJU-LEKKI. Yes, the hotspot in the Lagos real estate world is currently Ibeju-Lekki, and by now you are probably conflicted within yourself and full of questions just begging for answers. Perhaps you think it’s too far out and you don’t want to buy there. Now you are wondering what all the fuss is about with Ibeju-Lekki development after all it is just another waterfront area.

However, if you are concerned about flooding and other problems faced by areas such as this or maybe you are just waiting for the right time to invest in this area as you have not been able to grasp the worth of lands in this area. These are probably some of the questions going on in your mind at the moment. Well, it’s your lucky day as this article has been tailored to meet all your unanswered questions as well as to quell all doubts you may have about the area. I’m a weird investor with experience in the industry. For the past 7 days gathering this piece of information have only slept for about 24hrs, that’s just how weird I could be.

Moreover, Ibeju-Lekki is not just any promising area, it is without a doubt one of the most exciting developmental projects to go on in Lagos since the advent of Eko Atlantic City. Yes, I just compared it to Eko Atlantic City and for good reason also, it has it all. In Ibeju-Lekki, there is absolutely nothing that wouldn’t be found in this community come the next 20-30 years and it has an advantage that no other area in Lagos has experienced before, it has a Free Trade Zone (FTZ) located in it.

What is a Free Trade Zone?

We will get to that later on in the article along with other facts about the community that will definitely change your current view of this community. Without any further delay, let us jump into the 8 things to consider before buying/selling lands in Ibeju-Lekki. Oh no wait I forgot to warn you earlier, his content is actually for investors that see future potentials in a project and not the quick money hungry investors. I apologize I have to use that line but it’s just the koko of the matter, anyways quickly ask yourself where you belong before you proceed. As of now, the following are some of the major factors in play considering the ibeju lekki developments:

The New Multi-Billion Naira Lekki-Epe International Airport The Lekki Deep Sea Port Located In The Lekki Free Trade ZoneDangote Refinery Located In The Lekki Free Trade ZoneThe Lekki Free Trade ZoneThe Proposed 4th Mainland BridgePan Atlantic UniversityThe New Shoprite OutletLuxury Resorts Such As; La Campagne Tropicana Beach Resort, Eleko Beach, And Others.

Many of the above-listed infrastructures are still in the developmental stage whereas some (such as Pan Atlantic University) are already established with plans for expansion. This article aims to demystify Ibeju-Lekki and as such we will go into detail in a good number of the above factors.

The Lekki-Epe Proposed International Airport: 📷

The Lekki Airport is a pipeline project tied to the immense success of the Free Trade Zone, Deep Sea Port, and the availability of investors. The vast land on the left, approximately 8KM to the Epe Bridge (while driving along Lekki – Epe Express) is the site of the proposed Airport. The Lagos state government intends for it to be a Public-Private Partnership project and is still shopping for investors to partner with to actualize the project. How I wish I could be one of the top players and be part of the investors, don’t you think of being part too? The site is still vacant though.

However, when it is eventually built, it would instigate the appreciation of properties within the vicinity; similar to the way the Ikeja Airport and other airports across the country have commercial activities around them. The Lekki Deep Sea Port:

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The Lekki Deep Sea Port is located within the Free Trade Zone and is already under construction. Historically, ports are known to become commercial hubs and population centers, with a collateral development of related infrastructure and businesses due to port activities. Do you doubt me? Then ask the historian beside you that graduated from the University of First Choice (Unilag). The timeline set for the completion of the Lekki deep sea port is 2019 but a more reasonable guess for when it will become fully active will be somewhere around 2025.

Dangote Refinery (Lekki Free TradeZone):

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Africa’s richest man is a man on a mission, and not just any mission, a mission that will impact the lives of millions of Nigerians. Dangote group is investing $14 billion in the development of a refinery, a petrochemical and a fertilizer plant within the Lekki Free Trade Zone. These projects are currently under development and over $4 billion have been spent on the projects already, but not so much physical work has been done.

When the Neighborhood Review team visited the site, workers were still preparing the ground, dredging, clearing the forest, etc. The fertilizer plant is under construction as some structures have already been put in place indicating the project could meet the set target of being in operation by 2019. Dangote group has stated that the refinery could also be in operation by 2018, but a more feasible estimate would be 2020, considering the current state. This refinery plant would be the largest in Africa. Wait don’t rush, did you notice something else? Well, I sense an increase in the employment rate here. The Lekki Free Trade Zone:

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This is the number one key factor in play in this area that has got the big boys in the industry talking, The Lekki Free Trade Zone. The question is, what is a Free Trade Zone? A free-trade zone(FTZ) is a specific class of special economic zone. It is a geographic area where goods may be landed, stored, handled, manufactured, or reconfigured, and re-exported under specific customs regulation and generally not subject to customs duty. Free trade zones are generally organized around major seaports, international airports, and national frontiers—areas with many geographic advantages for trade.

The Lekki Free Trade Zone is located along Free Trade Zone road (FTZ road). The FTZ is already active with about 70 companies already in operation (particularly Chinese multinationals). However, commercial activities have not picked up as the Deep Sea Port expected to boost commercial activities in the zone is still under development.

The Free Trade Zone will certainly be a success as Lagos is one of the biggest commercial centers in Africa and businesses would appreciate the tax incentives it offers. The Proposed 4th Mainland Bridge:

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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 relaxation areas.

The 4th mainland bridge is a proposed state of the art 3km bridge like its predecessors (Eko, Carter, 3rd) 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. Other factors such as The Pan Atlantic University, the New Shoprite, La Campagne Tropicana Beach Resort, Eleko beach etc. and many more are what this exciting area has to offer. From this article, one can see that Ibeju-Lekki is not only going to be a great city but a smart city which will meet all the needs of both its residents and Lagos as a whole. Is Ibeju-Lekki the place for you to invest? That is for you to decide, but if you think it is for you, I suggest you act fast as plots are not only limited but their prices are ever increasing.

I’ll round up on this note, investing in Ibeju-Lekki is an investment that is guaranteed to go well. Think of all the jobs that’ll be created in the Lekki Free Trade Zone, think of all the public attractions and hotspots that’ll be present in the city and its waterfront, think of the quality of facilities such as roads, electrical supply and others as of a result of industrial activities in the area, there is no doubt that Ibeju-Lekki is a land worth Investing in and a land worth investing in NOW. Simply because Real Estate is the new Goldmine, no depreciation, obeys no traffic light hence we removed the brake and value just keeps accelerating. For more expert opinion and advice, contact us today.