ALL THE INFORMATIONS YOU NEED ABOUT IBEJU LEKKI WILL BE DISCUSS HERE, THE DIFFERENT INVESTMENT OPPORTUNITY IN IBEJU LEKKI AND FULL DETAILS OF DIFFERENT ESTATE TO ACQUIRE YOUR LAND PROPERTY WITH BOTH THEIR PROS & CONS WILL BE DISCUSS TOO. STAY GLUE TO THE THREAD FOR THE BEST INFO.

Where EXACTLY is Ibeju Lekki?



Ibeju-Lekki is a local government area in the Epe Division of Lagos State,
Nigeria . The name of the Local government was derived from two autonomous communities, Ibeju and Lekki.

The area also attracts massive amount of tourism as it is endowed with beautiful lagoon and gorgeous ocean fronts.

The development in the area is rapid and ongoing, some would even refer to the area as the New Lagos. in fact the commercial Hub of Lagos state is shifting towards the area with many investment been done to develop industries and infrastructures.


Ibeju-Lekki is where you have the Lekki Free Trade Zone, Lekki Deep Seaport, Dangote Refinery and Petrochemical Industry, Dangote Fertilizer Plant, International (Cargo) Airport, Lekki International Golf Course, Pan Atlantic University, Eleganza Industries and so on. That is why it is touted as the ideal investment destination for property investors.

To the potential investor however, the important question is where exactly is Ibeju-Lekki in this regard?

To answer this question, we will explain Ibeju-Lekki under three broad locations with regard to the ongoing key projects there. These include the Free Trade Zone axis; the Elerangbe axis, and the Lekki-Epe Expressway axis (see map).

Free Trade Zone Axis. This is the most commercial of the three locations and stretches from Eleko Beach Road through the Free Trade Zone Road to La Campagne Tropicana Resort and beyond. It hosts the Free Trade Zone, Lekki Deed Seaport, Dangote Refinery and Petrochemical Industry, Dangote Fertilizer Plant and other businesses.

The Lekki Free Zone is designed to be a satellite city to Lagos with dynamic commerce, trade and modern industrial sectors with an eco-city for residents.

The Master Plan covers a total area of about 30 square kilometres with 27 square kilometres for urban construction purposes. This will accommodate a total resident population of 120,000.

The zone is divided into four phases. The first phase, which is under construction will feature the Central Business District, residential areas, industrial parks, logistics and warehouses and will be fully ready in 10 to 12 years' time.

The Elerangbe Axis: This is where you find the cheapest plots of land in Ibeju-Lekki presently, and is mostly a residential location. This axis comprises of places like Okego Village, Tagbati all the way to Arapagi. Elerangbe is off Lekki-Epe Expressway to the left, after Eleko Junction. The key infrastructure expected to open up this location is the proposed 4th Mainland Bridge and the Lekki International Airport.

Lekki-Epe Expressway: Ibeju Lekki on the the Lekki-Epe Expressway axis starts from Abijo up to Eleko Junction. This stretch of the expressway has a mixture of residential and commercial characteristics. The area already houses business ventures such as Eleganza Industries, Coscharis Motors head office and has a number of built up residential estates. Of the three locations, this is where one can buy, build and live conveniently at present. From Eleko Junction to Ajah is about 15 minutes' drive.

Ibeju Lekki has been carved out by the government as the New Dubai of Lagos

It is also one of the locations for the Lagos Smart City deal with Dubai

Experts are forecasting that these projected developments coming into the area will increase economic activities in the area, create thousands of jobs and generally make the area a major business district in the country.

Ibeju Lekki can hardly be described as a suburb of Lagos these days as the frontal parts are already fully developed and integrated into what is known as the Lekki / 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 also come with a corresponding astronomical increase in the cost of lands. Also, as gated estates with modern infrastructure seem to be the norm in Lagos, several of these are sprouting all over the Lekki region and also following the pace of development into Ibeju Lekki. Areas such as Abijo, Lakowe, and Awoyaya now have several estates, with the cost of properties in them steadily increasing annually.

Most of the industrial developments are taking place along the Lekki Free Trade Zone road, off Eleko Junction along the Lekki – Epe Expressway (see Google map ). This place is approximately 1-hour drive from Ajah roundabout, and the traffic duration is expected to increase as commercial activities increase further down the Lekki – Express.

The FTZ is realistically 45 minutes’ drive from Songotedo (Lagos Business School) where urbanisation along the Lekki – Epe Express is currently, and 35minutes from Awoyaya (also in Ibeju Lekki), which is the closest place one can find major supermarkets or other significant commercial activities.

Current industrial developments along the Free Trade Zone road are
(1) Power oil production plant
(2) Lekki Free Trade Zone, which houses the Dangote multi-billion dollar Refinery (it will be the largest refinery in Africa by output capacity), Dangote Fertilizer and Petrochemical Plant, Lekki Deep Sea Port, and other industries as well as Multinationals.

Other mentionable developments within the area include the Pan African University new campus and the site for the proposed Lekki International Airport.

This is important to note as several estate developers are selling lands in various parts of Ibeju Lekki, with the prospect that its value would appreciate exponentially when the expected development it is cited close to becomes active.

Other Proposed Projects are;


DEEP SEA PORT
The Lekki Deep Sea Port is located within the Free Trade Zone and is already under construction.

DANGOTE REFINERY:

Dangote group is investing $14billion in the development of a refinery, a petrochemical and a fertiliser plant within the Lekki Free Trade Zone. These projects are currently under development and over $4billion has been spent on the projects already. The fertiliser plant is under construction as some structures have already been put in place indicating the project could meet the set target of being in operation by 2019.

LEKKI INTERNATIONAL AIRPORT

The Lekki Airport is a pipeline project tied to the immense success of the Free Trade Zone, Deep Sea Port, and the availability of investors. The vast land on the left, approximately 8KM to the Epe Bridge (while driving along Lekki – Epe Express)is the site of the proposed Airport.The Lagos state government intends for it to be a PPP project and is still shopping for investors to partner with to actualize the project. The site is still vacant.
However, whenever it eventually gets built, it would instigate the appreciation of properties within the vicinity it is located, similar to the way the Ikeja Airport and other airports across the country have stipulated commercial activities (hotels, etc.) around them.

PAN ATLANTIC UNIVERSITY CAMPUS

Pan Atlantic University (parent institution of Lagos business school) now has its main campus at Elaraingbe, shortly after Eleko Junction in Ibeju Lekki. The school has begun its undergraduate programs on this campus.
However, this has definitely not added much value to landed properties nor boosted commercial activities in the area as the University is privately owned and students live and interact within the university campus.

Also, the Lekki – Epe Express is still continually being expanded at the Ibeju Lekki – Epe axis.

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 key 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 Lekki Free Trade Zone Master Plan is aimed at developing the zone as a modern satellite city (not an extension) of Lagos, with new economic functions, urban service industries, and real estate property development as the pillar; so as to promote the overall industrial development of the Zone.

Properties along the Free Trade Zone road (FTZ road) will be in the immediate proximity of the Free Trade Zone and at the heart of the new satellite town, thus these properties offer the best potential return on investment.

The developments and commercial activities in the FTZ can possibly employ as much as 30,000 people and lead to a town of up to 150,000 in population. With this,
properties close to the FTZ will steadily rise in value based on their proximity to the business district, and by 2025, FTZ road would likely have a development pattern similar to that of Lekki Phase 1.

One unique feature of the FTZ road is that there isn’t any major rural town in the vicinity, and the majority of the land in the area is being procured in large quantities by estate developers. This means the area can easily become a high brow area as it will mainly comprise of planned residential estates, the Atlantic Ocean beach, the Free trade zone and offices of several businesses providing support services to the Refinery and Sea Port.

Also, the land here is mostly dry, unlike in Ibeju Town and Eleranigbe where parts of the lands are wet and waterlogged.

I will expose us to the Pros and Cons of Ibeju Lekki...

And For our Investors, the particular site that will be more beneficial to invest @ibeju lekki

At least from the detail explanations about ibeju lekki,we can be able to make decision by ourselves and not allow being deceive by desperate real estate agents/omonile.

Know what you want and go for it.

THE PROS AND CONS OF DIFFERENTS AREAS IN IBEJU-IKEKI


AWOYAYA/ABIJO
This area is developing as an extension of the present Lagos, along the Lekki Epe expressway.


PROS
1. The development of the area is not tied to the success or failure of any major project.

2. Smaller business districts are already developing in the area such as Yomade shopping complex and Mayfair Gardens shopping complex (developed by HFP engineering, similar to Ikota shopping complex, but smaller).

CONS

1. Sometimes, rush hour traffic to Victoria Island could last up to 2 hours, and possibly 45 minutes’ drive to Lekki Free Trade Zone (due to expected minor traffic) when the port and refinery become fully operational. It is quite caught up in the middle.

2. Because it is not located in the immediate vicinity of any of the major business districts, property appreciation rates will be slower than those closer to the major business districts.

NOTE ALSO;
That the Prices of Lands in these areas are currently nearly 3 times that of lands estates along Free Trade Zone road. However, the reverse may likely be the case in 10 years if the projects along FTZ road are successful. This is similar to the way properties on the mainland were far more expensive than properties in the VGC area of the island 20 years ago, but now the reverse seems to be the case.

ELERANGBE/ELEKO


These areas are further down the Lekki Epe express. Eleko Junction is the diversion (right) that leads to the Free Trade Zone road, while Elarangbe is located slightly further down after Eleko Junction. The Eleko road terminates in the FTZ road. Major developments in these areas include Pan Atlantic University (LBS) undergraduate campus and the proposed Lekki Airport. These areas are reasonably close to the Lekki Free Trade Zone (10 – 20mins), and would likely provide more affordable residence for those working in the Seaport, Refinery, etc. than areas along FTZ road when the area becomes fully industrialised in 7-10yrs. Currently, lands in proposed estate developments in these areas are the most affordable and generally among the cheapest in Lagos state.

PROS

1. Very affordable land (one of the most affordable in Lagos), though most of them do not have safe title documents
. Very close to the proposed site for Lekki Airport and reasonably close to FTZ
3. Property appreciation will be higher than in many other areas when the Seaport and Refinery become fully operational.
4. If / when the Lekki International Airport is eventually developed; the area might also host commercial activities such as Embassies, Hotels and Offices.

CONS

1. The area is currently largely undeveloped (a very large bush) and major developments may only start after developments in the FTZ road has peaked.
2. The Airport project may not be actualized in the immediate future (5– 10 yrs.). Also, the Pan Atlantic University does not in any way boost commercial activities in the area as the University is privately owned and its activities are restricted to the confines of the school premises.

IBEJU TOWN

Ibeju Town is a large rural community roughly 13 minutes drive from Eleko and 30 minutes from the Lekki Free Trade Zone.
It is a fully developed rural town with narrow central roads and rural buildings constructed in a congested manner. Buildings here are constructed without proper layout or plan and in many cases constructed right up to the edge of the road. In some areas, there is hardly any room for easy vehicular movement.
There are some proposed estate developments at the interior parts of this village.

NOTE ALSO;

That some of the Lands in these estate developments are currently sold for around 1-2.5million per plot, but it is worthy of note that some lands in the area are waterlogged.

PROS

1. It is reasonably close to the proposed new airport, and if/when the international airport is eventually developed, the area must be redeveloped and will surely host commercial activities such as embassies, hotels and offices.