IMPACT OF LEKKI FREE TRADE ZONE ON THE REAL ESTATE SECTOR

Impact of Free free trade zone on the Real Estate Sector (Case Study on Lekki Free Trade Zone)

by Joshua Adebayo

The establishment of Lekki Free Trade Zone will not only enhance infrastructure development in both the free trade zone and Lagos state (dubbed as Africa’s fastest growing business market) but will also promote the development of the overall real estate market in the surrounding environment. Such impacts are primarily reflected in the following aspects:

1. Office market: The FTZ will phenomenally increase the demand for office space from enterprises that will be attracted by the investment environment of the region. The region is expected to rise and relieve the substantial office supply pressure Victoria Island and Ikoyi axis of Lagos. Demand for office space is often driven by foreign oil and gas companies, manufacturing companies, financial institutions which seek to locate facilities close to the ports and free trade zone axis.

2. Residential market: The free trade zone is expected to create additional employment opportunities in the rising service sector. These job opportunities will boost continued rise in urban population within the region which will result into correlating the increase in the demand for residential spaces surrounding the FTZ and equally improve the infrastructure of residential communities. Lagos Island which is home to the Lekki Free Trade Zone consists of three sub locations which are Ikoyi, Victoria Island and more recently the Lekki-Epe Axis and will soon be joined by Eko Atlantic City, will experience increased demand for residential spaces by expatriates, specialists, foreign investors among other. The Hospitality Tourism and Leisure real estate sector would also benefit from special economic zones.

3. Retail market: A projected increase in the demand for retail properties that will service office and residential communities in the FTZ is expected to be driven by the population and income growth in the area. The tariff advantages found in the free trade zone will also boost availability and demand for imported goods thereby creating additional high-end consumption across the Lekki-Epe Region, and accordingly promote the upgrading of retail market and development of new malls.

4. Industry and Logistics Market: There is an expected growth in demand from service sector companies for high-quality facilities will outpace the current supply. The growth and development of trade in the FTZ will also significantly raise the need for capacity and efficiency of logistics facilities, driving demand for higher quantity and quality of logistics properties. Trade Zone)

Define independence day pls

Favorite Food: He That Shall Not Be Mentioned.

Happy birthday NIGERIA! May almighty God grant u peace and uphold u! There shall be war in our country and God will help us to take u to the next level, u shall prosper me and shall be successful in u....AMEN!

GOD BLESS MY COUNTRY NIGERIA

Our current President once had no shoe

One thing I like about Nigerians is that we are very strong, determined, courageous and hopeful, keep it up, for this is our motto: "UNITY and FAITH, PEACE and PROGRESS". Happy Independence

Danka7777:

I am disappointed in you. How could you write so little of Abacha? Did you do this on purpose?

are you related to abacha? He shuldnt even 'flash' in nigerian history talk more of 'appearing'

agent22: I miss d days when we went to school,lined up & D headmistress & teachers inspect our nails & uniform & den we match to our classrooms, U Remember na?? • D days of Nasco Biscuit,Trebor, Iced Coloured water tied in nylon we called it "lolly" • D days of Goody-Goody&pako Biscuit. • D days of ali & simbi,Mr Salami & Mrs Salami, Agbon,Edet lives in Calabar. • Chei, i remember those days when one naira na money,when groundnut was 5 kobo. & choco milo sweet was 5 kobo • days of messing game,who is in d garden, police and thief • D days of mama & papa play • days when we use to build houses with sand, play suwe game,tinco tinco,change ƔU̶̲̥̅̊я style, ten ten, skipping, stop! U remember nau! •those days wen we used to fly kite on streets, wen boys used to use d paint bucket cover as tire & their daddy's hanger as d steering •those days when rubber band was stock exchange •days when votron, jimbo, power rangers, spider man was our favourite cartoons • D days of limca soft drinks & choco milo advert on black and white tv Nd̶̲̥̅̊ sunday rendevous by1:30pm • when we say 'leke leke give me white finger' • Those days when eleganza pen was d best • D days wen we used to drink water from d tap even suck out d water if its not coming out • D days when NTA will show rainbow color for 30 mins then national anthem before they resume program @ 4pm • D days were basket sandals,simbi nd Bata sandals were d best •Days wen we all sing sandalili sandalili songs. Dstv has come no more old fun I'm really proud to have experienced all this. If u r nt smiling it means u were nt born in my generation.hapi independent nigger area

,
wow.....u rememberd me old days.

i forsee bright future for Nigeria. From d comments i hv read it shows we have number potentials leaders dat ar ambitious nd commited, at dsame vain i also c d yam heads who always carry sentiment nd tribalism along wit dem....Nigeria shall b great insha Allah.
Lets appreciate d effort of any 1 hu post something on NL bcause dat iz keepin d forum lively nd interactive, rather than insultive words where he or she goes wrong we politey correct him not only wil he take corrections bt he wil also hv d courage of postin smtin new nd imformative.

If I had a child that refused to "grow" @ 52 years old, I'll kill him or her.

Happy birthday Nigeria.

i wish we never had dis independent.

uyilicious:
Happy birthday Nigeria, wish you God’s favour, and blessing. As you turn 52 today;

GOD’S Favour will rest on you, your blessings will over flow.
GOD will bring builders to restore you.
You will lack nothing good. GOD will prepare a banquet for you.
GOD will rebuild your foundations with precious stones; you will flourish like a palm tree, even in old age you will still bear fruits.
Whoever fights against you will fall, those that plunder you will disappear, and they will be driven away from the land.
You will stay united and strong, your grains will no longer be food for your enemies, and your days of grief will come to an end.
No weapon will be able to hurt you. Your oppressors will kill each other. Destruction will catch them before they know it; they will be caught in their own trap and fall to their destruction.
The one who created you will take care of you until you are old and your hair is gray, he will give you help and rescue you. He will fill your life with good things.
Don’t dwell on what has been happening to you, watch out for the new thing he is going to do, your troubles will not overwhelm you.
When you pass through fire you will not be burned; the hard trials that come will not hurt you.
Those who steal from you will certainly perish, they will be scattered like dust, they will die in complete disgrace and their bodies will rot on the ground.
Your strength will be renewed, you will rise on wings like eagles, you will run and not get weary, and you will walk and not grow weak.
God will sprinkle clean water on you and take away everything and everyone that has defiled you.
Your land will be called blessed; you will flourish like a palm tree, Joy and gladness will always be in your house and you shall fulfill the number of your days. In thy Name of Jesus Christ Amen.

I love you Nigeria, we will celebrate many more birthdays to come.
God Bless You!

say a prayer if you love Nigeria.

visit my blog:uyiehigie..com

sooo on point...nice one

GOD BLESS NIGERIA nd Deliver us 4rm all evils dat r tormenting us Amen.

agent22: I miss d days when we went to school,lined up & D headmistress & teachers inspect our nails & uniform & den we match to our classrooms, U Remember na?? • D days of Nasco Biscuit,Trebor, Iced Coloured water tied in nylon we called it "lolly" • D days of Goody-Goody&pako Biscuit. • D days of ali & simbi,Mr Salami & Mrs Salami, Agbon,Edet lives in Calabar. • Chei, i remember those days when one naira na money,when groundnut was 5 kobo. & choco milo sweet was 5 kobo • days of messing game,who is in d garden, police and thief • D days of mama & papa play • days when we use to build houses with sand, play suwe game,tinco tinco,change ƔU̶̲̥̅̊я style, ten ten, skipping, stop! U remember nau! •those days wen we used to fly kite on streets, wen boys used to use d paint bucket cover as tire & their daddy's hanger as d steering •those days when rubber band was stock exchange •days when votron, jimbo, power rangers, spider man was our favourite cartoons • D days of limca soft drinks & choco milo advert on black and white tv Nd̶̲̥̅̊ sunday rendevous by1:30pm • when we say 'leke leke give me white finger' • Those days when eleganza pen was d best • D days wen we used to drink water from d tap even suck out d water if its not coming out • D days when NTA will show rainbow color for 30 mins then national anthem before they resume program @ 4pm • D days were basket sandals,simbi nd Bata sandals were d best •Days wen we all sing sandalili sandalili songs. Dstv has come no more old fun I'm really proud to have experienced all this. If u r nt smiling it means u were nt born in my generation.hapi independent nigger area

dis piece rily got me smiling n laughing. Gud old days, 9ce one.

freecocoa: I'm not happy about the situation of things in this country, i don't even know what's there to celebrate.

Is it that i was in so much pain few days back and rushed to the Federal hospital only to hear that they are on strike, i had to endure the pain till i could get to my personal doctor which meant i had to travel out of that state, wetin i wan talk leave the others sef?

Abegi.

have you for once prayed for d country?

Mehn.... Naija @ 52....we thank God sha,one thing am not happy about is dat i'll miss d 1st lady's independence speech today,let's pray 4 her,it's a pity our 1st lady is not celebrating d independence with us lest i forget to give my own add-- Nigeria's major food-Garri :DMehn.... Naija @ 52....we thank God sha,one thing am not happy about is dat i'll miss d 1st lady's independence speech today,let's pray 4 her,it's a pity our 1st lady is not celebrating d independence with us lest i forget to give my own add-- Nigeria's major food-Garri

The way the op listed d biography of our past leaders, one would be inclined to believe all they ever did was good deeds while they were on the seat of power. Whereas they did more evil and injustice than good stuffs. #just saying.
Anyway God bless nigeria!

Celebrating our nation filled with pple who beat the odds daily, where hope is our mantra and where giving up is never an option.
Happy birthday Nigeria.
One love!!!

Keep ur posts and comments short na, what is all the long story for?

Nigeria's most popular meat is BEEF,most popular water packaging is PURE WATER,most popular problem is ELECTRICITY,most popular mineral resource is PETROLEUM, most popular indigenous language is YORÙBÁ, most popular food is GARRI.

I hate nigeria with all my heart.

No to one nigeria.

our first lady dy celebrate independent dai 4 ogbodo oyibo eyaaai. hapi independent peeps

Shollypopz: Behave urself and stop d nonsense exxell! Let's celebrate Nigeria, we don't want this thread closed!

i dont know WTF is wrong with that guy...some guys deserved to be banned for life from NL...posting garri pics on this thread reeks of idiocy...SMH...
Abeg excell no come derail my thread biko

Danka7777:

I am disappointed in you. How could you write so little of Abacha? Did you do this on purpose?

am grossly dissapointed in you too...cant you read between the lines and see the source of the posts?...and for your info, the mods edited my earlier post and added that part which i love...you've got issues with the source not me...mtcheeeeewwww

booqee: The way the op listed d biography of our past leaders, one would be inclined to believe all they ever did was good deeds while they were on the seat of power. Whereas they did more evil and injustice than good stuffs. #just saying.
Anyway God bless nigeria!

boobsqee, the MODS edited my earlier posts...there was someone that qouted me earlier and in so doing quoted my original post...that's by the way cos we are just here to celebrate not remember the tyrancy and misdeeds of our past leaders

hapi independence day nija, God pls bless nija with everlasting peace.amen

lalaosky:

boobsqee, the MODS edited my earlier posts...there was someone that qouted me earlier and in so doing quoted my original post...that's by the way cos we are just here to celebrate not remember the tyrancy and misdeeds of our past leaders

sharraap dere! Dis not jokes section!
anyway how's oct 1st going in ur side. Hapi independence...!

Happy Independence M̶̲̥̅γ̲̣̣̥ sweet country.