12 Reasons Why You Should Buy Land in Ibeju Lekki
Ibeju Lekki is arguable the number one real estate investment destination in West Africa currently, due to the ongoing industralization of the region, over 25% of construction work ongoing in Lagos is carried out in Ibeju Lekki.
Land in Ibeju Lekki currently favour capital appreciation and high rental cashflow. The current massive infrastructure development has lead to consistent increase in price of land, as some areas have experienced over 100% increase in property price in 12 months thereby creating millions for real estate investors.
The following are key factors driving the price of Land in Ibeju Lekki:
Africa’s First Smart City
The first smart city in Africa is situated in Ibeju Lekki, Lagos. The smart city deal was signed by Lagos State Attorney-General and Commissioner for Justice, Mr. Adeniji Kazeem and the Chief Executive Officer of Smart City Dubai LLC, Mr. Jabber Bin Hafez at the Emirate towers in 2017.
The Ibeju Lekki smart city is expected to bring multi-billion dollars investments to the region, create several thousands of jobs and transform the Ibeju Lekki axis in particular and the entire Lagos State in general.
A Smart City is a growing concept that draws from the success of Dubai’s innovative knowledge-based industry clusters to empower business growth for companies and knowledge workers all over the world.
This project will create jobs for the people as well as position Ibeju Lekki as the world’s first carbon neutral city. “Ibeju Lekki,” is fast becoming an important centre for innovations in smart technologies, wellness, and destination for green tourism. At completion this will greatly influence capital appreciation of Land in Ibeju Lekki
The Dangote refinery is currently under construction within the Lekki Free Trade Zone in Ibeju Lekki, it is scheduled to be completed by 2019. The project site is larger than Victoria Island and located on 2135 hectares of land in Ibeju Lekki, Lagos near the Lekki Free Zone.
The project would save Nigeria over $12 billion annual import substitution, create over 4,000 direct jobs and over 100,000 indirect jobs aswellas crash prices of petroleum products. This will create a huge demand for accomodation in the free trade zone axis come 2019.
The Dangote refinery will have an annual refining capacity of 10.4 million tonnes (Mt) of gasoline, in addition to 4.6Mt of diesel and 4Mt of jet fuel. It will also produce 0.69Mt of polypropylene, 0.24Mt of propane, 32,000t of sulphur and 0.5Mt of carbon black feed. At completion the refinery will be the largest in Africa and 6th largest in the world. A plot of land around Dangote refinery currently sells for between N3m and N7m depending on the land title and nearness to the road.
Lekki Free Trade Zone
The Lekki Free Trade Zone (LFTZ) area is geographically located in Ibeju Lekki, Lagos. This area cut through Eleko Beach road to the free trade zone road to La Campagne Tropicana Beach Resort.
The Free Trade Zone is being developed as a multi-product and logistics hub for the entire West African Region. Strategically located 60km east of Lagos, the zone is well connected by road, sea and by air (rail in view). When fully developed, it will be spread over an area of 805 hectares and will house a number of petroleum and petrochemical complexes, agrocommodity and other manufacturing industries.
As a one stop business community with its full complements, the zone is being equipped with capacity to generate its own electricity. The construction of over 36 kilometers of inner roads have been completed for the benefits of subscribers. Meanwhile, proper security arrangement has been put in place to ensure that lives and properties are well secured in the zone. A police station has been completed in this regard.
Presently, over 116 investors have registered with Lekki Free Trade Zone, out of which 16 have commenced full operations while another 100 have signified their intention to register and situate their business within the zone. Against bureaucratic delay involved in clearing goods/raw materials, with its attendant cost implications at the nation’s ports of entry, investors who operate at the zone are exempted from paying import duties on raw materials imported for production/ excise duties for final products if not sold to local market. As part of method of operation, duties will only be paid only on products that are sold into local market.
Lekki Deep Sea Port
The Lekki Deep Sea port is built as the deapest sea port in Sub-Sahara Africa. Located at the free trade zone in Ibeju Lekki, It’s expected to aid trade in the region and serve as means by which the Lekki Free Trade Zone connects the global market.
Construction of the port started 2015 and it’s scheduled to be completed by 2019, The Lekki Deep Sea port is expected to add about $200 billion to the government’s coffers and create about 160,000 jobs. These massive flow of people will definitely result into high price of Land in Ibeju Lekki.
Lekki International Airport
The Lekki International Airport is being sited on a 3,000 hectare piece of land off the Lekki-Epe corridor, about 10km from the Lekki Free Trade Zone (LFTZ), Lagos Nigeria. The master plan has been completed and a 3500 hectare site for the airport has been secured. The airport is designed to handle two million passengers per annum with scope for future expansion.
The Lekki International Airport will lessen pressure on the ageing federally-owned Murtala Muhammed International Airport (MMIA) in Ikeja, and serve the fast growing residential cum industrial Ibeju Lekki hub, where several multi-billion dollar investments are springing up.
The Fourth mainland Bridge
Fourth mainland Bridge when completed will be the longest bridge connecting Island to the mainland, the bridge will pass through Lekki, and Baiyeku towns to Itamaga in Ikorodu.
It will compliment the Cater, Eko and Third mainland bridges and efficetively decongest traffice on the Lekki-Epe express way. The bridge will have four lane dual carriage way. Each carriage comprising of three lanes with two meters wideshoulder on each side.
Ibeju Lekki is home to some of the most beautiful resorts in Nigeria, From the captivating Omu resort in Bogije, to the austhetic La Campagne Tropicana Beach Resort at Ikegun after the free trade zone, plus many many others including the famous Eleko Beach at Eleko. If you love nature then Ibeju Lekki should be appealing to you. A plot of land around La Campagne Tropicana currently sells for between N600,000 and N3m.
Pan Atlantic University
The prestigious Pan Atlantic University (PAU) popularly known as Lagos Business School is situated at Km 52, Lekki-Epe Expressway (Near Eleko Beach Junction), Ibeju-Lekki. PAU offers academic programmes, executive programmes and short focused programmes in Management that have been ranked among the best in Africa.
PAU is uniquely positioned to develop visionary business leaders capable of maximising the high growth opportunities in key industry sectors to move Nigeria to economic prosperity. Over the years, LBS has collaborated with other business schools in Nigeria, West Africa and around the world on programmes to develop responsible business leaders. A plot of land around Pan Atlantic University currently sells for between N800,000 and N7m.
Other major attractions in Ibeju Lekki includes
New Computer Village
Eleganza Industrial City
Lekki International Golf Course
Cosharis Motors Head Office among others.
The best time to invest in Ibeju was 10 years ago, the second best time is now. Call us today on +2349055511165 for the best professional advise on Land in Ibeju Lekki