Ibeju-Lekki location of Lagos state is viewed as the hot spot for development by a number of property developers as well as sector experts alike.
Amongst various other things, there is a plan for the development of a Free Trade Zone (FTZ), Dangote refinery, seaport, a flight terminal, Pan-African University in the area. It is likewise one of the areas for the Lagos Smart City. Professionals are anticipating that the predicted growth coming into this location will certainly boost financial activities in the area, develop countless job opportunities as well as generally make the area a major enterprise zone for the nation.
Complying with the existing real estate pattern in Lagos, estate developers are utilizing these possible advancements as an advertising and marketing campaign to entice the public to invest in landed property in the area, as it would be of great value in the future. The concept is to invest in the location now that it is much less established and budget friendly, as against when the area is completely established then residential property rates will probably skyrocket.
This article intends to assess the Ibeju-Lekki area, analyse its prospects because of the much-anticipated industrialization, critically examine real estate developments in the location, and also highlight those that will be of excellent worth in the future; based upon Location.
PROSPECTS OF INDUSTRIALIZATION IN IBEJU LEKKI
Ibeju-Lekki is a large local government area, starting from Sangotedo extending completely to Epe. we have included a map so as to get a visual of the Area.
Ibeju-Lekki can barely be referred to as a residential area of Lagos these days, as its exterior components are already completely developed and incorporated right into the Lekki and Ajah location of Lagos. As the Lekki Expressway is being broadened into a 6 lane express further down, residential and industrial growths adhere to the development. These developments also feature an astronomical surge in the cost of home prices. Also, as gated estates with contemporary infrastructure seem to be the standard in Lagos, several of these are sprouting all over the Lekki area the pace of advancement is heading right into Ibeju Lekki. Locations such as Abijo, Lakowe, and Awoyaya currently have several estates, with the rise in property valuation gradually rising each year. Sign up to our news letter to get the latest update as regard to real estate in Nigeria.
Nonetheless, these parts of Ibeju-Lekki are not the point of emphasis when it comes to the expected growth with technological advancement. The majority of the industrial advancements are happening along the Lekki Free Trade Zone road, off Eleko Junction along the Lekki– Epe Expressway (see savanna style Google map). This location is about an 1 hr drive from Ajah, also the traffic challenge situation is anticipated to grow as business activities tend to be increasing down the Lekki– Express hence the road expansion projects being carried out.