13/11/2018
The New Lagos Gold Mine called IBEJU-LEKKI.
Estimated over 10.5 Billion Dollar in Investments: As Dangote, Otedola, Governor Ambode, Lead more investors to the Free Trade Zone.
Even in the glory of highly expensive mansions, well paved roads with expansive and beautifully landscaped compounds that define the Ikoyi and Victoria Island neighbourhoods, new destination of investments in both industry and Housing development is now finding its way into the rural, sleepy and outlying community called Ibeju Lekki in Lagos.
The evolving ‘city’ is the new investments hub for big, old, new and young investors. Its character, stature and value have undergone dramatic change by several massive developments and infrastructure provision taking place there. Before now, the only real estate developers were the Redbrick Homes International which began the new innovation in aesthetics and energy-saving in commercial housing delivery.
Ibeji Lekki is home to one of Africa’s largest free trade zones—the Lekki Free Trade Zone (LFTZ). The facts about this community are not only interesting, but also compelling, especially for savvy and patient investors with long term view of the property market.
The prospects are high at the area and after the commissioning of the Sea Port by President Mohammadu Buhari, a lot of people are already asking if they could get a piece of Land for investments. So, it is clearer that axis is starting to develop; it starting to boom and because there is cheap land there, it is an area every company would be able to see through their future growth and expansion, and already looking out for affordable housing development.
Lekki Deep Seaport, Dangote Refinery and Petrochemical Industry, Dangote Fertilizer Plant, International (Cargo) Airport, Lakowe International Golf Course, Pan Atlantic University, Eleganza Industries are some of the huge investment developments in this community that has opened up investment opportunities for several SMEs in the area.
EUC Homes is leading the pack of ‘new generation’ estate developers that are already taking advantage of both the new developments and roads infrastructure driving property demand and prices in that axis because of its huge presence, positioning of its Estates in the most juicy part of the land, as well as its uncompromising and cordial relationship with the paramount ruler of the Land – Oba Rafiu Salami.
An Unconfirmed report has it that the LFTZ has attracted about $10.5billion investment commitments from about 49 investors, where EUC Homes Ltd, stands as the highest singular Real Estate Investors in the axis. The LFTZ is set to transform the existing environs into a highly industrialized area with mixed-use developments, leading to rapid economic growth, increased migration rate and creation of about 300,000 jobs.
The 300,000 jobs to be created are potential sources of demand for real estate assets as all of these workers will need residential and commercial real estate for living, working and even for leisure. It remains unimaginable what land prices are likely to be in that area in the medium to long term when most of the projects come on streams and government’s road infrastructure are completed.
Kind Regards!
CG Real Estate Services.
