Wednesday 25 July 2018

IBEJU-LEKKI: FACTS ABOUT IBEJU LEKKI


Ibeju-Lekki is a beautiful town located in the Epe division of Lagos state, Nigeria. The administrative center was formally Akodo and was later moved to Igando Oloja due to the creation of Lekki Council Development area. The name of the Local government was derived from two autonomous communities, Ibeju and Lekki.


The people of the area are mainly Yoruba speaking natives but there are many other people from different parts of the country and around the world residing, working and investing in the local government. The area attracts massive amount of tourist as it is endowed with beautiful lagoon and gorgeous ocean fronts. Hence the rapid development in the area, some even refers 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.

A ground breaking fertilizer plans and a refinery is currently under construction at the Lekki Free Trade Zone Area, along with petrochemical and power plant,seaport,an airport,pan African university in that area. It is one of the location for the Lagos smart city deal with Dubai.

Experts are already forecasting a geometric growth in the commercial activities as a result of these massive capital projects coming into the area, Let us think about this” if Dangote as the RICHEST MAN IN AFRICA can invest $16billion and GLOBACOM CEO investing billions also in securing hectares of land in Ibeju-Lekki, the Ibeju-Lekki is the new area for RAW GOLD.

Smart investors are investing in Ibeju-Lekki. You should come invest too.
With as low as N2.5m, you can be a proud owner of a plot of Land in Cedar wood Bay Estate. An estate with good title, dry land and close proximity to the Express road
-CEDARWOOD BAY is dry
-CEDARWOOD BAY is 3 mins away from the popular AMEN ESTATE
-CEDARWOOD BAY is along the road
-CEDARWOOD BAY has a good title

Contact GARNETHOMES on +2348023947494 for more details/information about CEDARWOOD BAY and our other available lands in IBEJU-LEKKI.

Wednesday 18 July 2018

BUYING AN OMONILE LAND OR FROM A REAL ESTATE COMPANY/PROFESSIONAL REALTOR



Buying an Omonile land,you know that;

1. They are everywhere and cater for all sizes, location, cost and amenities.

2. You can negotiate the cost of the land at your own time and pace.
3. You have a choice of selecting the type of land you want and position.
4. In most situations, you can deal with the original seller directly without third parties influencing your decisions.
5. You have direct access to the documents most of the time to conduct due diligence on it
6. You can easily confirm the status of the land when you conduct due diligence on it to help you decide whether you should buy or not.
7. You can easily view or locate the land you intend to buy without any bottle necks or conditions
8. You can conduct the transaction in a day, sign all the contracts in a day and take possession of that land the same day.
9. You don’t have to worry about whether the land is under a mortgage or when your documents would be ready.
10. You can start building immediately you pay for the land without waiting for anybody to dictate to you once payments have been settled and if something bad happens to your land, you’re most likely going to be compensated or relocated to another place.


But the disadvantages are;


1. Buying an Omonile land simply means YOU ARE TREADING A THIN LINE IF YOU DO NOT INVESTIGATE TRUE OWNERSHIP

2. Omonile Lands are owned by either Families or people who bought lands from the families. Either way, till you complete your house, you must have a relationship with these families good or bad till the very end.
3. Most omonile lands have one issue or the other associated with them such as land dispute cases, family dispute cases, resale of another person’s land, buying lands that belong to the government etc hence the need to conduct due diligence on them before you buy.
4. You pay for everything such as your own survey fees, legal fees, agency fees, omonile signing fees, foundation fees, roofing fees, drainage, Nepa etc.
5. Even when you do everything right such as conducting due diligence, buying from the right person and paying all the necessary fees, you still have to build a fence to ward off criminals and trespassers from stealing your land.
6. Until you complete your house you must always be vigilant to check on your land. Any form of complacency or negligence would only lead to criminals reselling your land
7. You would have to put up with annoying agents throughout the Inspection and negotiating experience
8. Buying an Omonile Land means you have to be tough and take no nonsense unless these miscreants would rob you off your land.

But when you buy from a Real estate company/professional realtor;

1. You know who you are buying from and most of them are registered real estate companies
2. The Lands are usually in an enclosed environment so you would be living with people with like minds
3. The estates have proposed amenities so you don’t have to run around looking for blocks to build your fence, provide electricity, roads, drainage etc
4. Most estates have a layout that have it in mind to provide parks, schools, hospitals etc
5. Buying from a real estate company means you don’t have to deal with omoniles to pay any sort of fees to them.
6. All documentations are usually done by the Real estate company in favour of the buyer
7. They provide installment payment plans for those who cannot afford to pay the full sum at once

 Though there are some real estate companies that are not straightforward with their services and could lead you on the wrong path and lose a lot at the end but at GARNET HOMES, we pride ourselves in delivering great services to our clients and you are guaranteed and assured rest of mind on any of our properties that you purchase and you are able to do your verification/confirmation of documents at Alausa.

Thursday 10 May 2018

LAGS to commence 4th mainland bridge process


Welcome to Ibeju-Lekki, a scintillating cynosure amidst several real estate investment locations in Lagos,Nigeria and Africa. Ibeju-Lekki has risen from relative obscurity to becoming an admirable monolith  a landscape of desirable real estate regions in Nigeria. Ibeju-Lekki has been called “The New Lagos”, “The Dubai of Africa”, “New Lekki Choice Location” etc
Lagos signs MOU With Dubai to Build Smart City in LEkki Free trade zone
You may want to know why….

It’s simple and obvious; Ibeju-Lekki is the chosen location for  mega government and private projects which are already undergoing construction. Amidst these massive projects, The Free Trade Zone, Deep sea Port, Dangote $9b Refinery/Petrochemical Industry and the New International Airport are prominent. There are several other projects that cannot be mentioned now which are upcoming in this acclaimed axis of Lagos.

As an illustration, Dangote has confirmed that he would not invest that colossal sum of money and not ensure his company goes to work to make this a success, thereby causing phenomenal development and land value appreciation in the area.

Also, it is an open secret that Lekki-Ajah which has experienced an explosive population increase in recent years is becoming congested with the teeming number of immigrants due to the well-planned structure and layout of the area. Undoubtedly, this influx of new residents has triggered a tremendous and somewhat astronomical increase in the value of lands and houses in the region. One astounding case is that of Lekki Phase 1 formerly known as Maroko. Then Maroko was a run-down, rejected and waterlogged area that never tickled the fancy of most real estate investors. However, when the Government announced the establishment of an estate called Lekki Peninsular Scheme 1 in Maroko, some perspicacious investors saw a great opportunity and put down their hard earned money while others were being dragged and persuaded to buy. As at 2000/2002, plots of land were still selling for N500,000. Today, a plot of land in Lekki Phase 1 is about N100m. A plot of land which sold for about N100,000 in Ajah then sells for N15m today. This is about a whopping 15,000% ROI (Return on Investment). Now, people are moving beyond Lekki and Ajah and are coming down to Ibeju-Lekki. Inevitably, the wave of development currently spreads to Ibeju-Lekki while the mega ongoing projects will precipitate a transcendental appreciation of lands in the axis.


THE MEGA PROJECTS THAT WILL DRIVE VALUE APPRECIATION IN IBEJU-LEKKI

1.THE 4TH MAINLAND BRIDGE: What Govt Ambode said about the commencement of the    4th mainland bridge. Check out the video below:




 2. THE FREE TRADE ZONE
The Commercial & Logistics Park is planned to be of multi-functions with integration of commerce, trading, warehousing, logistics, exhibition, value-added processing, supporting services, which are closely inter-connected and mutually promoted. In the long run, the Commercial & Logistics Park will serve as the logistics and distribution center of Chinese products in West Africa and represent a service demonstration base for the entire Lekki FTZ. (Culled from www.lfzdc.org)
According to the Site Plan of the Commercial & Logistics Park, a considerable number of construction works will be built in the Park, including the international commodities & trade center, the international exhibition & conversation center, industrial factory workshops, logistics warehouses, office buildings, hotels and residential apartment buildings, etc.

INCENTIVES FOR NIGERIAN FREE ZONES
* Complete tax holiday from all Federal, State and Local Government taxes, rates, customs duties and levies
*One-stop approvals for all permits, operating licenses and incorporation papers
*Duty-free, tax-free import of raw materials and components for goods destined for re-export
*Duty-free capital goods, consumer goods, machinery, equipment, and furniture
*Permission to sell 100% of manufactured, assembled or imported goods into the domestic Nigerian market
*When selling into the domestic market, the amount of import duty on goods manufactured in the Free Zone is calculated only on the basis of the value of the raw materials or components used in assembly, not on the finished products
*100% foreign ownership of investments
*100% repatriation of capital, profits and dividends
*Waiver on all import and export and exports licenses
*Waiver on all expatriate quotas for companies operating in the Zones
*Prohibition of strikes and lockouts.

3. LEKKI DEEP SEA PORT
The Port at Lekki is the new seaport of Lagos in Nigeria with construction to commence in 2015, which construction is still on. It will then be the largest seaport of Nigeria. When in service, the Port at Lekki will be able to handle around 6 million TEUs (Twenty-foot Equivalent Unit) of containers, together with a significant volume of liquid and dry bulk cargoes.The port is planned to be developed in phases to meet the growing demand. In phase one, which is expected to be operational by 2018, the port will have three container berths equipped to handle more than 1.8 million TEUs, one berth for dry bulk and two berths for liquid cargo. The port is financed by private investors and a consortium of banks who have funded the project with $1.5 billion so far.

The Managing Director of Nigerian Ports Authority has said that the Lekki Deep Seaport project is an example of the Public Private Partnership success story that will transform Nigeria economy into global recognition. The project has been described as a game changer and a catalyst to the Nation’s economy in view of the number of businesses that the port will attract when fully operational. 

4. DANGOTE $9 BILLION REFINERY AND PETROCHEMICAL INDUSTRY
Dangote is currently establishing a 500,000 barrels per day capacity refinery which would start operations in Nigeria by 2019.
The new refinery, which is worth $9bn, is to be situated in the Lagos area close to the Lekki Free Zone.

“Lekki Free Trade Zone is beginning to take shape. The Master Plan is being realized, investors are trouping in. Tank farms and major refineries are springing up to service the demands of the country and make room for export. The refineries create a major selling point and release of the opportunities that lie ahead in this zone, create opportunities for the local people and the potentials for Lagos and the Nigerian economy” said Fasola
“Looking at what the Governor has done by bringing this here I can assure you that this is going to be the biggest free trade zone in the African Continent and I know that the people will begin to show their appreciation. For instance, there is no way we can put down over $12 billion of our money here without making sure that the zone is going to work” said Aliko Dangote.
 Alhaji Aliko Dangote had earlier said the communities stand to benefit enormously as over 8,000 engineers and numerous workers would be trained while jobs would be created for youths of the communities. 

 5.) LEKKI INTERNATIONAL AIRPORT
 The Lekki-epe international airport which is located about 10km from Lekki Free Trade Zone and it’s expected to gulp NGN71.64bn in its first phase and it is expected to cater for Airbus A380, which experts said makes it a code F compliant airport. It is expected to begin operations with initial capacity of 2million passengers per annum and exceeding 5million.
The Lagos State Government is to spend N102 billion ($ 650 million) on the construction of the Lekki International Airport which was expected to commence operation in May 2012. The Governor howver spoke with strong optimism that in spite of the set backs, preparations and negotiations are under way fro the realisation of the project.


OTHER PROJECTS
6. PAN  ATLANTIC UNIVERSITY
7.. INDUSTRIAL PARK
8. LEKKI GOLF COURSE/LEKKI COUNTRY ESTATE
9. SEVERAL PRESTIGIOUS GATED ESTATES
Therefore, it is obvious and no less irrefutable that an investment in Ibeju-Lekki and the Free Zone area is a gilt-edge, blue-ribbon and cashed-backed one.
Be among the smart far-seeing investors who are investing profusely in this area.

Wednesday 18 April 2018

LEKKI FREE TRADE ZONE

                                         INVESTMENT OPPORTUNITY
Lekki Worldwide Investments Limited (LWIL) welcome any investment in the following sectors in Lekki Free Zone.
I. Process Manufacturing and Assembly
  • Process manufacturing of construction material, furniture, pharmaceuticals, garments, shoes, food, beverage etc.
  • Assembly of Vehicle, engineering machinery, electronic devices and instruments etc.
II. Commerce and Logistics Industry
  • Exhibition and trade fair related services
  • Warehouse and transportation
  • Oil product and gas storage
  • Logistics services
  • Urban services
III. Real estate
  • Industrial land development for plants, workshops etc.
  • Commercial and residential land development for exhibition centre, malls, shops, restaurants, petroleum stations, 4S shops for vehicle, hotels, apartment building, office buildings, villas, houses etc.
IV. Services
  • Banks, financial services
  • Hotels
  • Restaurants
  • Insurances
  • Tourism service
  • Entertainment facilities
  • Medical service
  • Other services
V. Infrastructure
  • Power plant
  • Water plant
  • Sewage Treatment
The following factors account for why Lekki Free Zone is preferred;

1. Unique Location
  • It is within the reach of domestic market of Nigeria with a population of over 140 million people. 
  • It also has easy access to the neighbouring countries in West Africa and central Africa with a population of 500 million people. It is within the easy reach of European and American market.
2. Provision of Infrastructure
  • Good road networks
  • 12 MW of power as initial offtake
  • Water supply of about 9000m3 /day
  • Communications
  • Security system
  • The new Lekki International Airport
  • The new Lekki deep sea port
3. Regional Characteristics
Lekki Free Zone is about 50Km from Lagos city centre, 70 Km from the Murtala Mohammed Int’l Airport (MMIA) and 10 Km from the new Lekki Int'l Airport. It is also about 50 Km from Apapa port, West africa’s largest harbour. The new Lekki deep sea port is located right inside the Lekki Free Zone and will be linked by rail and road network to all the commercial states of Nigeria and neighbouring countries.
       
                                              INCENTIVES
1.   Complete tax holiday from all Federal, State and Local Government taxes, rates, customs duties and levies
2.   One-stop approvals for all permits, operating licenses and incorporation papers
3.   Duty-free, tax-free import of raw materials and components for goods destined for re-export
4.   Duty-free capital goods, consumer goods, machinery, equipment, and furniture
5.   Permission to sell 100% of manufactured, assembled or imported goods into the domestic Nigerian market
6.   When selling into the domestic market, the amount of import duty on goods manufactured in the Free Zone is calculated only on the basis of the value of the raw materials or components used in assembly, not on the finished products
7.   100% foreign ownership of investments
8.   100% repatriation of capital, profits and dividends
9.   Waiver on all import and export and exports licenses
10.  Waiver on all expatriate quotas for companies operating in the Zones
11.  Prohibition of strikes and lockouts
 



Current Investors in Lekki Free Trade Zone
South West Quadrant


 South East Quadrant
North West Quadrant


North East Quadrant
Yet to be developed

IBEJU-LEKKI: FACTS ABOUT IBEJU LEKKI

Ibeju-Lekki is a beautiful town located in the Epe division of Lagos state, Nigeria. The administrative center was formally Akodo and was...