Basically looking to purchase land around the free trade zone in hopes it appreciates in the future. I have no plans erecting a house on the land, pure buying to hold on to for a few years then selling it.
If that’s you, then this page was written for you and I have answered all possible questions regarding this kind of investment.
Why Invest in Ibeju Lekki
If you landed on this page from a search engine then you probably already know why you should invest in Ibeju Lekki lands right now. But if you are not aware of what is going on Ibeju Lekki or you are aware but doubting if the proposed projects will ever come to fruition or you have convinced yourself that it will take many years to happen, let me quickly educate you a bit so that you don’t become one of those people who had the opportunity to invest in Lekki but turned it down because all they could see was bushes and thought it would remain like that for a long time. These people are regretting now because a plot of land today in Lekki is up to N150million. I know because they tell us when we take them for inspection. Unfortunately Life has no rewind button. To correct their mistake some of them are rushing to invest what they can afford in Ibeju Lekki now and you too should do the same.
Currently Ibeju Lekki Lagos is the Hottest Investment destination in Africa, seating on multi billion Dollar int’l projects that include:
- Lekki Free Trade Zone
- Dangote Refinery
- Lekki Deep Seaport
- Dangote Private Jetty
- Dubai Smart City
- Lekki Epe Int’l Airport
- Olympic size stadium
- Int’l Golf Centers
- Beach Resort Centers
And no, some of these projects are not going to take up to 5 years to actualize. The last update about the refinery was that it was going to start full operation first quarter of 2019. That’s less than 2 years from now. Serious work goes on a daily basis in Ibeju Lekki. There’s almost always something new I notice each time I take clients to the area for inspection.
But let’s even say it takes 5 years for things to really kick off. By then everyone is rushing to buy land there. But you already bought when it was really cheap and now you sell and make a return on investment that can be up to 1000%. Which other investment opportunity do you know in Nigeria or even overseas that can give you such return in 5 years?
A word they say is enough for the wise.
Lands around Lekki Free Trade Zone Ibeju Lekki
We have a lot of estates with several acres of land in the Lekki Free Trade Zone area, some before the LFTZ but most of them are after the LFTZ. You see, the LFTZ area is mostly industrial. Just after the LFTZ we have Dangote refinery, Lekki Sea Port, Power oil and some other companies. These are just the ones already up. There are still empty lands within that area and we believe that soon, especially when the refinery starts operation, many more company including banks will come up. So the residential area in Lekki Free Trade Zone is within about 10-30 minutes drive from the Trade Zone and that’s where most of our estates are located. And the prices of these estates presently ranges from N600k – N6million a plot.
Buying a Land to Hold and Sell Later
Buying a land to hold and sell off later or what some of my colleagues call Land Banking, is not just one of the best investments in Nigeria with high ROI but also requires zero amount of work and maintenance to turn profit. It’s easy. Buy. Move on. Come back 3-6 years later and sell for 5-10 times the price you paid for it. It’s simple enough. But not every investor that does land banking make as much profit. Why? They don’t invest in an area with unique economic development projects like Ibeju Lekki. For example buy a land in Ikorodu Lagos and sell 5-10 years later you will be glad if you make even 200% return on your investment from selling the lands.
The Secret to Cashing out Big in Real Estate
Buy as low as possible without giving up good location and you give yourself more room for price appreciation.
I had a client who want to invest in Ibeju Lekki. And he contacted me about Lakeshore Gardens that was selling for a promo price of N6million. Estates such as Westwood Park Phase 2, Greenwich, Walton Gate, Arium, Opulence and Lakeshore Gardens I’ll only recommend if you are looking for a luxury estate to build and live in or you are after a short term real estate investment returns so you want an already developed place that you would build on immediately and put on rental, but if you’re after long term investment, to buy and hold, they won’t be my first choice because you will be paying multiples of millions to get just one plot whereas that same amount of money can get you at least 3 plots of land in Ibeju Lekki with good title. Here’s a real example. RoyalFlex Estate Phase 2 currently sells for N2.5million a plot and has an approved Excision as title. The lowest priced estates among the ones I listed is Arium and it sells for N7.5million a plot. So that same amount of money can get you 3 plots in RoyalFlex estate phase 2. You get more plots with more room for price appreciation. What I mean is, it is more likely that RoyalFlex will sell in 2 years for N5million a plot than it is that Arium will sell in 2 years for N15million. The most it can sell for is N12million, that’s after the estate is completely developed and people are living in it, that can greatly appreciate the price. But since there are no important developments going on where the estate is located, the price isn’t likely to appreciate much if nothing happens in the estate itself. So if you’ve followed this clearly you will see you stand to make more profit buying lower than buyer higher.
You can make even more profit from investing in Ibeju Lekki if you don’t mind taking some risk by buying lands with their Excision in process. Meaning lands awaiting an official title. Currently all such lands in Ibeju Lekki sells for under N1million a plot. So with N7.5million you can buy even more plots.
For more information on what Excision in process means and what risk it carries read the article Is it Safe to Buy Land in Ibeju Lekki with its Excision in Process?
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