5 THINGS THAT WILL INTEREST YOU ABOUT IBEJU-LEKKI
This axis will play a vital role in the future prosperity of Lagos State as the home to many multi-billion naira private investments in the Lekki Free Trade Zone as well as the new deep seaport and upcoming airport.
PRIORITY LOCATION
Former Governor Akinwunmi Ambode at the commissioning of the Ajah flyover bridge
(Jubilee Bridge) on 17 May 2017 said – “We had to give this project priority because of its strategic
importance to the economic growth of the Lekki Free Trade Zone and the Ibeju-Lekki-Epe axis. This axis will play a vital role in the future prosperity of Lagos State as the home to many multi-billion naira private investments in the Lekki Free Trade Zone as well as the upcoming seaport and airport.”
THE SUBURB DESCRIPTION
Ibeju-Lekki is a large local government area, starting just after Sangotedo and extending to Epe (see Google map). It can hardly be described as a suburb of Lagos these days, as its exterior parts are already fully developed and integrated into the Lekki and Ajah area of Lagos.
As the Lekki Expressway is being widened into a 6-lane express further down, residential and commercial
developments follow correspondingly. These developments have shown over 200% astronomical
appreciation in assets.
PROJECTED PATTERN OF DEVELOPMENT IN IBEJU LEKKI BY 2025
The Lekki FTZ Master Plan aims to develop the zone as a modern satellite city in Lagos, with
new economic functions, urban service industries, and real estate property development as the pillar to
promote the overall industrial development of the Zone. By 2025, the development of the Ibeju Lekki area
would likely be in 2 discrete categories. Firstly, development along the Lekki- Epe Expressway will go
further into Ibeju Lekki, causing industrialization to extend further into the area.
Secondly, the industries along the Free Trade Zone Road will instigate commercial activities in this
satellite city, resulting in a central business district in the Free Trade Zone area. Properties Like the
Hamlet Apartment along the Free Trade Zone Road and at the heart of the new satellite town will offer the best potential return on investment.
COMMERCIAL ACTIVITIES
The development and commercial activities in the FTZ can employ as many as 50,000 people
and lead to a town of up to 200,000. With this, properties close to the FTZ will steadily rise in value based
on their proximity to the business district, and by 2035, FTZ road would likely have a development
pattern like that of Lekki Phase 1.
Residential developments in the exterior parts of Ibeju-Lekki (Awoyaya, Abijo, Lakowe, etc.) will be
located between the two business districts of Victoria Island and FTZ and their value will appreciate at a
slower rate due to their considerable distance from both business districts (about 1 hour 45 mins to
Victoria Island and 45 mins to FTZ).
BEST AREAS TO INVEST IN LANDED PROPERTIES IN IBEJU LEKKI
There are several estate developments all around Ibeju Lekki, right from the exterior parts
(Abijo, Awoyaya), all the way after the Epe Bridge. However, in terms of projected future value,
those along the Free Trade Zone Road, Eleko road, and those in osoroko are expected to appreciate the
most; firstly because of their proximity to the would-be commercial hub, and secondly, because these
areas will likely develop into highbrow areas since most of the land has been sold to estate developers
who will build well-planned estates.
It has been observed that planned residential neighborhoods (e.g Hamlet Apartment) experience more
development and will become far more expensive than areas that develop as a result of the public buying lands directly from the community, without recourse to any proper layout or plan covering the area (e.g Agungi).
To be part of this investment opportunity, Reach Us on +2347000220000 or +2349133332200
