₦airaland Forum

The world's largest atmospheric tower built by sinopec will be installed at the world's biggest single-train facility - Nigeria’s Dangote Refinery in ibeju-lekki

This is not about whether you believe it or not, the economy of Lagos state, with specifics on ibeju-lekki axis is going to outrun many country in Europe and Asia.

How well are you positioning yourself to take part in this development.

History is about to be made, you can't afford not to be part of the history.

Investing in real estate in Ibeju-lekki is an opportunity you can't afford to miss.

It is true that all lands appreciate in value over time but truth remains that lands at different places and in different location appreciate at different rates due to economic growth and population growth, if you are thinking of acquiring assets that can fetch you a passive income for life to create the dream lifestyle you had always craved for, then here are solid reasons why a large part of your investment portfolio should comprise of properties in Lagos state.
1) Population : Every informed real estate investor know that one of the key things to look out for when investing in real estate is the population growth of the place, Nigeria population is estimated to be about 200 million, but Lagos has the highest population out of the whole 36 states, slightly above 1/10 of this 200 million people reside in Lagos state, that's Lagos is estimated to have a population of approximately 21 million people. It's also said that every day, 2000 people migrate into Lagos state seeking for greener pasture, it's expected that by 2050 Lagos population will double once more, Lagos is the second fastest growing city in Africa and one of the top 10 fastest growing cities in the world according to Brookings.edu. Lagos state has achieved the status of a megacity. Every tribe in Nigeria is represented in Lagos state, this has resulted to fast appreciation of properties for rents, lease and sell, have you ever wondered how you can position yourself to take care of this expected population explosion in Lagos and benefit from it?
2) Economy : Lagos state alone generates 25% of the total GDP of Nigeria , this is to say that, 1/4 of all Nigeria Gross domestic product generated in Nigeria is From Lagos State. About 80% of Nigeria imports are handled by Lagos ports. Lagos serves as a home to lots of companies cutting across tech, banking, real estate, industry etc.
If you desire to own properties whether residential or commercial that will appreciate real fast and generate consistent and predictable income for you, then i need not tell you twice to think Lagos.
Want to start your real estate investment journey today? Call me and let's talk about it. 08036024547

It is true that all lands appreciate in value over time but truth remains that lands at different places and in different location appreciate at different rates due to economic growth and population growth, if you are thinking of acquiring assets that can fetch you a passive income for life to create the dream lifestyle you had always craved for, then here are solid reasons why a large part of your investment portfolio should comprise of properties in Lagos state.
1) Population : Every informed real estate investor know that one of the key things to look out for when investing in real estate is the population growth of the place, Nigeria population is estimated to be about 200 million, but Lagos has the highest population out of the whole 36 states, slightly above 1/10 of this 200 million people reside in Lagos state, that's Lagos is estimated to have a population of approximately 21 million people. It's also said that every day, 2000 people migrate into Lagos state seeking for greener pasture, it's expected that by 2050 Lagos population will double once more, Lagos is the second fastest growing city in Africa and one of the top 10 fastest growing cities in the world according to Brookings.edu. Lagos state has achieved the status of a megacity. Every tribe in Nigeria is represented in Lagos state, this has resulted to fast appreciation of properties for rents, lease and sell, have you ever wondered how you can position yourself to take care of this expected population explosion in Lagos and benefit from it?
2) Economy : Lagos state alone generates 25% of the total GDP of Nigeria , this is to say that, 1/4 of all Nigeria Gross domestic product generated in Nigeria is From Lagos State. About 80% of Nigeria imports are handled by Lagos ports. Lagos serves as a home to lots of companies cutting across tech, banking, real estate, industry etc.
If you desire to own properties whether residential or commercial that will appreciate real fast and generate consistent and predictable income for you, then i need not tell you twice to think Lagos.
Want to start your real estate investment journey today? Call me and let's talk about it. 08036024547

QUIT YOUR LANDLORD

It is not wise when you have a LAND ROVER+LAND CRUISER and you still have a LAND LORD

The dream of every individual is to own a house that he/she can be proud of.

Why not Quit paying rent and become your own landlord by investing in Prosperity Garden situated in a serene neighborhood at Ibeju Lekki, where both private and Government projects are at various levels of development.

Its located close to the following neighborhood:

*Lekki Free Trade Zone (LFTZ)* : The fastest developing free trade zone in the world that has risen to about N100 billion in the last ten years.

*Lekki Deep Sea Port* : Africa second largest Deep-Sea Port estimated at a cost of N325 billion and expected to be delivered in 2019

*Dangote Refinery* : The largest Single Refinery in Africa expected to produce 650,000 bpd after commissioning

*La Campane Tropicana* : An Africa Beach Resort with modern luxury

*Proposed Lekki Airport* estimated at a cost of N7.1 billion

*BENEFITS* :
Infrastructural services - Fee Applicable.
Good road
CCTV security camera
Street light
Good water supply
Recreational services etc

LOCATION: Ibeju Lekki, Lagos.

Land Title: Govt Approved Excision.

*Selling Price* - N2,500,000

*Promo Price* -
600sqm- N2,000,000

300sqm- N1,000,000

*Installment 3month*
600sqm- N2,300,000

300sqm- N1,150,000

*Installment 6month*
600sqm- N 2,600,000

300sqm- N1,300,000

*Initial Deposit-N800,000*

*Statutory Fee For Prosperity Garden*

Deed of Assignment- 50k

Registered Survey- 500k

Development fee- 500k

For Enquiries and site inspection:
Call or whatsapp Adebayo on 08036024547

HOPEWELL PARK ESTATE is perfectly located in the up coming region and industrial belt of the new Lagos where massive International projects is on-going.

Invest wisely within the International Environment with close proximity to rapid Development.

LOCATION: LAPEKUN 8 MINUTES AFTER LEKKI FREE TRADE ZONE.

EASTER PROMO PRICE: N2,600,000
TITLE: EXCISION
SIZE: 600sqm

NEIGHBOURHOOD
- Dangote Refinery
- Lekki Free Trade Zone
- Pan African University
- Lekki Free Trade Zone
- The New Seaport
- 2 Golf Courses
- Several Upcoming Gated Estates.

FACILITIES
Gate House
Perimeter Fencing
Good Road Network
Secured & serene Environment
Electricity
Good water treatment
Good Structured Layout Etc.

For more Information| Inspection| Enquiries, kindly contact☎ 08036024547

*UNDERSTANDING LAND SIZES AND MEASUREMENT*

Most people who purchase land in Lagos and elsewhere don't really understand the meaning of these Real Estate terms. As a potential buyer wishing to buy a land or build a new house you must be conversant with a few of these figures. The first hurdle is to understand the system of Land measurement in Nigeria.

In Nigeria today, Land is measured in Hectares, Acres, Meters and Feet. These measurements are affected by factors, which include development pattern, human and environmental factors.



Let's start by asking what is the size of a standard plot in Nigeria?



According to the dictionary meaning of a plot: A plot is a marked out piece of Land for the purpose of building or farming. The word 'plot' is an arbitrary term used to describe a land division carved out for property development.



The size of a plot can vary for different reasons but according to Nigeria's land division, the appropriate plot for a house construction is 50 x 100ft which can accommodate a standard house with a small compound. To better understand land divisions used in Nigeria, different units of area are used as follows:



*HECTARE*

A hectare is one of the least known metric units and one which potential buyers and Estate developers seem to struggle with -



It is a land measuring:



��100m x 100m OR

��328ft x 328ft OR

��10,000 sqm OR

��Two and half acres OR

��15 plots.



*ACRE*

An Acre is a standard unit of measurement used by Land sellers and it is almost equivalent to the size of a standard football field. An Acre is a product of any rectangular plot of land giving a total of:



��4,046sqm OR

��43,560 sq ft OR

��6 plots (each measuring 60ft x 120ft)



*PLOT*

In Lagos State, the standard size of a plot is 60ft x 120ft (18m x 36m i.e. 648 sqm), while in some other cities of the country, plots are measured in 50ft x 100ft.

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)

ABOUT LAND TITLES IN LAGOS STATE

*A Gazette* is an Official record book where all special government details are spelt out, detailed & recorded.

A *gazette* will show the communities or villages that have been granted *excision* and the number of acres or hectares of land that the government has given to them.
It is within those *excised* acres or hectares that the traditional family is entitled to sell its lands to the public & not anything outside those hectares of land given or *excised* to them.

*Question:* Is excision as good as obtaining c of o?
Is a person having excision still mandated to obtain c of o?

*Answer:* After a land has been excised & Gazetted, then you can either process your C of O or Governor consent.

*Excision* does not expire while CofO expire after 99 years.
The only advantage CofO has over Excision is that, it can be use as collateral for getting loan in the bank

*DEED OF CONVEYANCE*

*Deed of Conveyance* or Registered Conveyance was the authentic evidence of ownership until 1978 Land use Act that introduced Certificate of Occupancy.

Deed of Conveyance is old legal document used in transferring the interest of the owner of a landed property interest to the person to another whom it is assigned, the assignee.
When ownership is transferred, the new legal document in use now is called deed of assignment.

*CERTIFICATE OF OCCUPANCY*

A Certificate of Occupancy (C of O) issued by the Lagos State Government officially leased Lagos land to you, the applicant, for 99 yrs.
*All lands belong to the Government.*

*GOVERNOR'S CONSENT*

A governor’s consent can only be processed on a land with either Gazette or an Existing Certificate of Occupancy (C of O).

If a person with land with C of O decides to sell his land, the only documents that can give the new buyer or every other subsequent buyers the right of occupancy or ownership is a governor’s consent.
The powers of the Governor to consent to such transactions can be found in Section 22 of the Land Use Act of 1978 which states thus:
*'It shall not be lawful for the holder of a statutory right of occupancy granted by the governor to alienate his right of occupancy or any part thereof by assignment, mortgage, transfer of possession, sublease or otherwise howsoever without the consent of the Governor first had and obtained''*
This simply means therefore that even when a buyer has secured a land with a Certificate of Occupancy, he shouldn't stop there.
He needs to begin the process of obtaining a Governor's consent to make that purchase legal in the eyes of the government & be rest assured his land is safe.

DEED OF ASSIGNMENTS

Most people have the title documents to their cars intact & in safe places but fail to ask for the Deed of assignment to their properties which is several times more valuable than cars

*A Deed of assignment* is one of the transnational document drawn up by a real estate attorney between the current title holder for a particular property & the new buyer.

In real property transactions, a deed of assignment is a legal document that transfers the interest of the owner of that interest to the person to whom it is assigned, *the assignee.*
When ownership is transferred, the deed of assignment shows the new legal owner of the property.

The deed contains very pertinent information for a real estate transaction. It spells out the date when the ownership of the property transfers from one owner to the other.
The deed also gives a specific description of the property that is included in the transfer of ownership.

It is very compulsory & mandatory for a Deed of Assignment document to be recorded at the appropriate land registry to show legal evidence as to the exchange of ownership in any land/landed property transaction in order to make the general public and government aware of such exchange or transaction.

*Question:* How long does it usually take on average for a land to be fully excised?

*Answer:* Excision is given by the Governor of the state & there is no specific time for issuance of Excision. Sometimes, excision can be delay due to political reason.

Once a CofO had been issued on a particular land, it's takes 99 years before it can expire after which it can be renewed.
You can not process CofO on land that already has CofO.

CofO is CofO everywhere. When they said *Global,* it means the CofO in questions covers a very large expanse of land.

*Question:* Does this mean that *"Lands has to at least be excised before it can be sold or transferred to someone else" ?*

*Answer:* You becomes rightful owner of the land once the government released it to you via excision.

Though Governments recognised ancestral land ownership as excision is the right of the indigenous land owners.

Courtesy: Joshua Adebayo