GUIDE TO INVESTING INTO PROPERTIES IN IBEJU-LEKKI LAGOS. The Ibeju-Lekki zone of Lagos state is viewed as the following problem area for advancement by a few land designers and industry specialists the same.
In addition to other things, there are plans for the improvement of a Free Trade Zone (FTZ), Dangote treatment facility, seaport, an air terminal, Pan-African University in the territory. It is additionally one of the areas for the Lagos Smart City manage Dubai. Specialists are estimating that these anticipated improvements coming into the territory will increment financial exercises in the zone, make a large number of occupations and for the most part make the region a significant business region in the nation.
Following the present land pattern in Lagos, bequest designers are utilizing these imminent improvements as a showcasing effort to draw the general population to put resources into landed property in the region, as it would be of incredible incentive sooner rather than later. The thought is to put resources into the region since it is less created and moderately reasonable, as against when the territory is completely created and property costs soar.
This article plans to audit the Ibeju-Lekki territory, dissect its possibilities considering the eagerly awaited industrialisation, basically survey land advancements in the region, and feature those that will be of extraordinary incentive later on; in light of Location, Price and Reputation of the designer.
POSSIBILITIES OF INDUSTRIALIZATION IN IBEJU LEKKI
Ibeju-Lekki is an enormous nearby government zone, beginning soon after Sangotedo and stretching out right to Epe (see Google map).
Ibeju-Lekki can scarcely be depicted as a suburb of Lagos nowadays, as its outside parts are as of now completely formed and incorporated into the Lekki and Ajah region of Lagos. As the Lekki Expressway is being augmented into a 6 path express further down, private and business advancements pursue correspondingly. These improvements likewise accompany a galactic ascent in the expense of property. Likewise, as gated domains with current framework appear to be the standard in Lagos, a few of these are growing all around the Lekki region and furthermore following the pace of improvement into Ibeju Lekki. Zones, for example, Abijo, Lakowe, and Awoyaya now have a few bequests, with the expense of properties in them relentlessly expanding every year.
Be that as it may, these pieces of Ibeju-Lekki are not the purpose of center with respect to the normal industrialization. The vast majority of the mechanical advancements are occurring along the Lekki Free Trade Zone street, off Eleko Junction along the Lekki – Epe Expressway. This spot is around an hour drive from Ajah, and the traffic length is required to increment as business exercises increment further down the Lekki – Express.
The FTZ is practically 45 minutes’ drive from Sangotedo, and a little ways from Awoyaya (likewise in Ibeju-Lekki), which is the nearest place one can discover grocery stores and other huge business exercises.
Current modern improvements along the Free Trade Zone street are
(1) Power oil generation plant
(2) Lekki Free Trade Zone, which houses the Dangote treatment facility (which is relied upon to be the biggest processing plant in Africa by yield limit), Dangote Fertilizer and Petrochemical Plant, Lekki Deep Sea Port, and different enterprises just as Multi-nationals.
Other remarkable advancements inside the zone incorporate the Pan-African University new grounds and the site for the proposed Lekki International Airport. On the off chance that and when every one of these advancements happen as intended, the territory would be another significant business area in Lagos with likenesses to Apapa.
Be that as it may, from our visits and examination of the zone, and an audit of the administration’s dedication towards the accomplishment of these tasks, not these undertakings may work out as expected in the prompt future (1-5 years). This is essential to note, as a few domain designers are selling lands in different pieces of Ibeju-Lekki with trusts that its worth will exponentially acknowledge when the normal improvements are set up.
AUDIT OF PROPOSED PROJECTS IN IBEJU LEKKI
LEKKI INTERNATIONAL AIRPORT
The Lekki Airport is a pipeline venture attached to the massive accomplishment of the Free Trade Zone, Deep Sea Port, and the accessibility of financial specialists. The tremendous arrive on the left, around 8KM to the Epe Bridge (while driving along Lekki – Epe Express) is the site of the proposed Airport.The Lagos state government plans for it to be a Public-Private Partnership venture is as yet looking for financial specialists to join forces with to complete the task. The site is as yet empty.
Be that as it may, when it is in the end manufactured, it would incite the valuation for properties inside the region; like the way the Ikeja Airport and different air terminals the nation over have business exercises around them.
Home advancements around there incorporate Lagoon Courts, Brooksville Courts, Roseberry Estate and Folk-land Estate
CONTAINER ATLANTIC UNIVERSITY CAMPUS
Container Atlantic University (parent organization of Lagos business college) presently has its principle grounds at Elaraingbe, not long after Eleko Junction in Ibeju-Lekki. The school has started its undergrad programs on this grounds.
Be that as it may, this has unquestionably not enhanced landed properties nor helped business exercises in the zone as the University is exclusive and understudies live and connect inside the college grounds.
Land improvements around there incorporate Lekki Villas Phase 2.
LEKKI FREE TRADE ZONE
The Lekki Free Trade Zone is situated along Free Trade Zone street (FTZ street). The FTZ is as of now dynamic with around 70 organizations as of now in activity (especially Chinese multinationals). Notwithstanding, business exercises have not grabbed as the Deep Sea Port expected to support business exercises in the zone is still being worked on.
Lekki Free Trade Zone, Ibeju Lekki, Lagos
The Free Trade Zone will surely be a triumph as Lagos is one of the greatest business focuses in Africa and organizations would welcome the assessment impetuses it offers.
Bequests along the Free Trade Zone street are Rehoboth Gardens, Oakwood Gardens stage 2, Paradise Gardens, Pen Gardens Phase 1, Victoria Spring Courts, Cherry Wood Courts, Brooksville Courts.
Remote ocean PORT
The Lekki Deep Sea Port is situated inside the Free Trade Zone and is now under development.
Dredgers in Ibeju Lekki, Lagos
Verifiably, ports are known to become business centers and populace focuses, with a guarantee improvement of related foundation and organizations because of port exercises. The course of events set for the fruition of the Lekki remote ocean port is 2019, however an increasingly sensible supposition for when it will turn out to be completely dynamic will be something like 2025.
Dangote bunch is putting $14 billion in the improvement of a treatment facility, a petrochemical and a compost plant inside the Lekki Free Trade Zone. These activities are as of now a work in progress and over $4 billion have been spent on the ventures as of now, yet less physical work has been finished. At the point when the Neighborhood Review group visited the site, laborers were all the while setting up the ground, digging, clearing the woodland, and so on. The compost plant is under development as certain structures have just been set up showing the venture could meet the set objective of being in activity by 2019.
Bulldozers at Lekki unhindered commerce zone, Ibeju Lekki, Lagos
Dangote Refinery Ibeju Lekki, Lagos
Dangote bunch has expressed that the treatment facility could likewise be in activity by 2018, yet an increasingly possible gauge would be 2020, thinking about the present state.
This treatment facility plant would be the biggest in Africa.
GOVERNMENT COMMITMENT TO THE SUCCESS OF PROJECTS IN IBEJU LEKKI
The present and past governors of Lagos state have repeated their arrangements to guarantee the ventures in the Ibeju-Lekki region are fruitful. Not long after being sworn into office, current Lagos state representative Akinwunmi Ambode visited the Lekki Free Trade Zone to investigate progressing improvements.
map from Lekki to Free exchange zone
Likewise, the Lekki-Epe express is as of now being extended.
Representative Akinwunmi Ambode at the dispatching of the Ajah flyover connect (Jubilee Bridge) on 17 May 2017 said – “We needed to give this task need in view of its key significance to the monetary development of the Lekki Free Trade Zone and the Ibeju-Lekki-Epe hub. This pivot will assume a key job later on flourishing of Lagos State as the home to numerous multi-billion naira private interests in the Lekki Free Trade Zone just as the up and coming seaport and air terminal.”
ANTICIPATED PATTERN OF DEVELOPMENT IN IBEJU LEKKI BY 2025
The Lekki FTZ Master Plan is planned for building up the zone as a cutting edge satellite city in Lagos, with new financial capacities, urban assistance ventures, and land property improvement as the column; in order to advance the general mechanical advancement of the Zone.
By 2025, the advancement of the Ibeju Lekki region would almost certainly be in 2 discrete classes. Right off the bat, advancement along the Lekki-Epe Expressway will go further into Ibeju Lekki, making industrialization expand further into the territory.
Besides, the enterprises along the Free Trade Zone street will induce business exercises in this satellite city, bringing about a focal business region in the Free Trade Zone region.
A great many people who get properties in bequest advancements in Awoyaya, Abijo, Lakowe and other outside parts of Ibeju-Lekki LGA are individuals who work in the Lekki/Victoria Island business regions and do so in light of the fact that terrains in these territories are less expensive than in the areas closer to Victoria Island.
Properties along the Free Trade Zone street (FTZ street) will be in the prompt closeness of the Free Trade Zone and at the core of the new satellite town, in this manner these properties offer the best potential rate of profitability.