All You Need To Know About Lekki Free Trade Zone
The Lekki free trade zone (LFTZ) is designed to accommodate a total resident population of 120,000. It covers a total area of about 30 square kms with 27 square kms for urban construction purposes.
The spatial layout of the Master Plan is characterized by: two centers, two axes, three districts, multiple nodes, axial penetration.
Two centers : The sub-center to be developed first is located in the south of the Zone close to the customs supervisory area mainly for commercial trading, logistics and warehousing operations.
The principal center to be developed during the 2nd Phase is located in the north of the Zone adjacent to E9 road (highway) which will serve as Central business district of Lekki free trade zone.
Also read: Why You Should Invest in Ibeju-Lekki Now Now
Two axes : The area along E2 Road shall be the principal functional axis for development of finacial and commercial businesses, estate properties & supporting facilities, high-end production service industries etc. , which will closely link the two centres of the Zone. The area along E4 Road shall be the sub-axis mainly for development of logistics and industrial manufacturing/processing.
Three districts: Lekki FTZ is divided into three functional districts, viz.,
i) residential district in the north;
ii) industrial district in the middle;
iii) commercial trading/warehousing & logistics district in the southeast.
In addition, a number of connection axes are planned in-between the principal axis and the sub-axis, along which multi-functional service nodes will be built to serve the whole Lekki free trade zone .
Key Economic Indicators of Lekki Free Trade Zone.
- The Lekki Free Trade Zone area is geographically located in Ibeju Lekki. 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.
- The Dangote Refinery and Petrochemical Industry is just 4 minutes drive from the Free Trade Zone. Dangote Refinery is a $14 billion project set to be completed in 2019. On completion, the refinery will have the capacity to refine 650,000 barrels of crude oil per day, which is the 6th largest capacity in the world.
Also read: All You Need to Know About Dangote Refinery
- Opposite the Free Trade Zone is the Lekki Deep Seaport. The Deep Seaport is designed to handle about 6 million Twenty-foot Equivalent Units (TEUs) of containers. The deep seaport is proposed to be in full operation in 2019 and it is estimated to create 169,000 jobs directly and indirectly.
- Dangote Fertilizer Plant is 4 minutes drives from Dangote Refinery. The refinery and fertilizer projects of Dangote Industries Limited were expected to be operational in the first quarter of 2019 and were estimated to create a minimum of 235,000 new jobs, both direct and indirect.
- The La Campagne Tropicana Beach Resort is another landmark on the Lekki Free Trade Zone axis. The Beach Resort is about 15km drives from the Dangote fertilizer plant.
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With the above economic indicators, it is a clear fact that Returns on Real Estate investment here will skyrocket when all this projects have been completed. Smart investors have started acquiring landed properties here in anticipation for capital appreciation and cashflow from property rentals, don’t be left out. Contact us today for the best deal in the region.