You’ve probably been seeing different adverts promoting cheap land for sale in Ibeju Lekki and now you’re wondering if we’re talking about “the real Lekki”. Well there’s no fake Lekki just so you know 🙂
Lekki is a big city that is still under construction. As of 2015 the phase 1 has been completed and phase 2 was near completion. Lekki phase 1 currently has a reputation as an area with some of the most expensive real estate assets in Lagos State with a plot selling for as much as 80-150million Naira.
On the other hand Ibeju Lekki is still in its early stages of development. But development is rapid and ongoing and some have referred to Ibeju Lekki 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. The industries and infrastructures in Ibeju Lekki and upcoming include:
- Lekki Free Trade Zone
- Lekki Deep Seaport
- Dangote Refinery and Petrochemical Industry ($17Billion)
- Dangote Fertilizer Plant
- Cargo Port
- The ongoing 4th Mainland Bridge
- Lekki International Airport
- Lekki International Golf Course
- Pan Atlantic University
- Eleganza Industries and so on.
And because Ibeju Lekki is still in its early stages of development, real estate is still very cheap there. Unlike Lekki phase 1, a plot of land in Ibeju Lekki cost between N700k – N5million only.
This makes Ibeju Lekki the ideal investment destination in Nigeria for property investors. There’s really nowhere in Nigeria as a whole that has better landmarks and site attractions than Ibeju Lekki, so if you buy really low now you can sell really high in a few years from now when some of the projects in the area have been completed, since that would greatly increase the demand for accommodation and business centers in that area as those who would be employed to work at the industries would need a place nearby to live and shop from.
Where Exactly is Ibeju Lekki?
Ibeju Lekki is after Ajah. It’s a 30-45 minutes drive from Ajah.
Ibeju-Lekki can be described under three broad locations with respect to the key ongoing projects there. These include The Free Trade Zone axis; the Elerangbe axis, and the Lekki-Epe Expressway axis.
Free Trade Zone Axis: This is the most commercial of the three locations and stretches from Eleko Beach Road through the Free Trade Zone to La Campagne Tropicana Resort and beyond. There we have the Free Trade Zone, Lekki Deep Seaport, The Lekki International Golf Course, Dangote Refinery and Petrochemical Industry, Dangote Fertilizer Plant, Indomie Industry, Power oil company, General Hospital, Lekki Tourist Centre, Chinese Free Trade area, Private Beaches and Resorts and other businesses.
The Lekki Free Zone is designed to be a special area in Lagos State with dynamic commerce, trade, modern industrial sectors and an eco-city for residents.
Note: Dangote Refinery is only 5 minutes drive from the Lekki Free Trade Zone and we have some properties really close to this location. The closest estate is Lekki Rose Garden, just 5 minutes drive from the refinery. Then Lekki Royal Garden and Lekki Crystal Garden are within a walking distance from Lekki Rose Garden.
The Elerangbe Axis: This is mostly a residential location. Eleranigbe is off Lekki-Epe Expressway to the left, a few km (5 minutes’ drive) after Eleko Junction. The projects expected to open up this location is the ongoing 4th Mainland Bridge and the Lekki International Airport. It’s the major road to the airport. There are a lot of proposed estates coming up there. Government has plan to tarred the road because it leads to the airport and 4th mainland bridge will be link to the road.
Lekki-Epe Expressway Axis: Ibeju Lekki on the Lekki-Epe Expressway axis starts from Abijo up to Eleranigbe. This stretch of the expressway has a mixture of residential and commercial characteristics. The are a lot of houses, big schools, business ventures such as Coscharis Group, Eleganza Industries, Pan African University, the Biggest Shoprite in Nigeria (Abijo/Sangotedo), Greenspring School, Corona School and has many built up residential estates.