Buy Real Estate and Wait, don’t Wait to Buy Real Estate

The Ibeju-Lekki axis as it is now is the same location where the Lagos state government site the largest Free Trade Zone in West Africa – called the *Lekki Free Trade Zone*.

This Free Trade Zone will open up Ibeju-Lekki axis and will surely surpass the development seen in Lekki Phase 1 of today.

The Free Trade Zone is the idea of the Lagos state government, and partners with four big Chinese consortiums. Ever since then, work have not stopped on the site to bring it into actualization.

Now, less than two minutes drive from the Free Trade Zone is where the richest man in Africa is constructing his Refinery and Fertilizer Plants.

The Dangote Refinery is going to be the largest private refinery in Africa come year 2019, producing 650,000bpd. Beside it, is the Fertilizer Plant.

Dangote company is going to generate its own electricity, which the company can not consume all. So the company is going to extend electricity to neighbouring towns.

The same road where Lekki Free Trade Zone and Dangote Refinery are sited, is the same road most of our estates are located – about 5 to 15 minutes drive distance.

The Dangote Refinery is expected to start partial operation in first quarter of 2018.

In few years to come, once all the mega projects materialize, this axis of Ibeju-Lekki will shoot up commercially and industrially.

Value of properties in this axis will multiply and early smart investors will benefit highly from the development in few years to come.

In addition, this axis include the new *Lekki International Airport*, *Deep Seaport* – largest in West Africa, *Dangote Jetty*, *Smart City Lagos*, and an ongoing construction of an alternative road linking the Free Trade Zone to Lekki-Epe Expressway and dualization of the Coastal Road into 8 lanes.

Other companies already operating in the axis are Power Oil (owner of Indomie), Goodwill Technologies Nigeria, several private gated estates, etc. And Shoprite Ibeju-Lekki is already positioning itself.

And this is the future go-to area of Lagos as it is already termed ‘THE NEW LAGOS’ and the *Dubai of Africa*.

Moreover, companies are now positioning itselves in the axis waiting for 2 to 3 years for the axis to shoot up.

As a real estate consultant, i advise you position yourself in this axis as early as possible because landed properties are still very cheap in Ibeju-Lekki.

And the most interesting part is… it appreciates faster than anywhere else in the country.

An example is Westwood Park Estate lands that were sold for N8.4million per plot in March 2017. As I write, this estate is going for N12million. That is over N3million profit within 6months.

A professional colleague took a client to that axis few months back, he was lamenting how he missed the opportunity of investing just N50k in Maroko (now Lekki) back in the 90s. And promised to never let this opportunity (investment in Ibeju-Lekki) pass him by.

Conclusively, “the place is far” – this was the same thing many people said during the transformation of the old Maroko into the present day Lekki. As I write, the minimum price of land in Lekki of today is N100million.

Imagine buying a plot of land during this transformation in Maroko back in the late 90s for just N50,000 and selling it N120million today. This is what is going to happen in Ibeju-Lekki in few years to come.

My best advise is to buy as many plots as you can and keep till it appreciates.

Thank you.

Tunde Raji BSc. MNIM, MCIB

+2347055429720

tunde@tunderaji.com

 

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