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.
