Investors see immense opportunities on Lekki-Epe corridor - Expert

As Lagos property market gears up for rebound, savvy investors are set to leverage on immense opportunities along the buoyant Lekki-Epe axis.

Notably one of the five fingers of the state with others including Lagos-Badagry expressway, Ikorodu expressway, Lagos-Ibadan expressway and Lagos-Abeokuta expressway, the axis, analysts say has attracted so much investment in recent time because of its rewarding potential.

With other fingers significantly developed for mostly residential and commercial purposes, the fast-developing Lekki-Epe corridor currently presents the most rewarding investment opportunity for real estate investors.

Currently, the axis boasts of over 50 estates, gated residential developments, commercial complexes, with numbers expected to double in the next few years as a result of on-going developments on the corridor.

Some of the infrastructure expected to further trigger property value on the axis is the on-going construction of the Lekki seaport, Opening of the Lekki link bridge between Lekki phase I and Ikoyi, and Proposed construction of fourth mainland bridge to link Lekki to Ikorodu by the Lagos State government.

Other projects currently on-going include the construction of the West Africa gas pipeline project in Ibeju-Lekki LGA by the Federal Government and the ongoing construction of the East-West road, which passes through Lekki.

A sizeable portion of the land on the axis has also been allocated spaces for a Free Trade Zone and an airport, all these providing exciting opportunities for investors.

Property analysts believe that the axis could play a major role as the new investment hub for real estate investors as Lagos gradually evolves to a mega city.

Olayinka Omotosho, portfolio executive, Broll Property Services Limited, speaking recently at a forum in Lagos said the significant rise in property prices over the past few years have further lured more investors to the axis.

According to him, a three-bedroom apartment on the axis which was sold between N10 million and N15 million in 2008 currently sells between N42 million and N100 million in Lekki Phase I, N35 million and N50 million in Agungi and N25 million and N35 million at Ajah, all on the expressway.

“The area is gradually being developed with different estates, state of the art infrastructure, schools, hotels and retail spaces which are factors that would further increase demand and as well eliminate the ‘isolated’ clause in the near future”, Omotosho added.

In addition, the updated land use master plan will provide a total built-up area of about 10,380 hectares to accommodate a residential population of about 3.4 million persons and non-residential.

The unique characteristics of the Atlantic Coast, Lagos Lagoon and the inland natural areas will be protected and enhanced to give the area the special natural ambience character.


Comments

Post a Comment

Popular posts from this blog

UAC firm calls for new policy on retail sector, begins Galaxy Mall

In 2015, the retail sector of the real estate industry experienced a huge setback in its growth and development due to some abrupt modifications to certain regulatory policies, which stalled new development activities and stifled existing operations FRONTLINE real estate firm, UACN Property Development Company Plc (UPDC) has urged the Federal Government to review the existing policy framework and create a robust platform that will support and indeed accelerate the much desired “retail revolution” in Nigeria. The firm spoke last week in Kaduna, Kaduna State, the takeoff of yet another project aimed at boosting the retail sector of the real estate industry, named Galaxy Mall, a partnership project between the Kaduna state government and UPDC. With the landed property provided by the state, the developer is set to create a unique node of commerce, entertainment and leisure, which will add great value to the entire citizenry of Kaduna state. Galaxy Mall, which has a gross ...
Read more

US, China to invest in Nigeria’s proposed industrial parks

Investors from the United States and China have indicated interest in the proposed industrial parks to be created across the six geopolitical zones in the country. The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, said this at an ongoing two-day retreat at the Free Trade Zone, Onne, Rivers State. The retreat which was organised by the United Nations Industrial Developemnt Organisation, had the theme: ‘Addressing unemployment and poverty through the development of Small and Medium Scale Entreprises’. Enelamah said, “The Federal Government has concluded talks with some foreign investors from the United States and China, who have indicated interest to invest in the regional economic parks to be built across the six geopolitical zones. “These parks are designed to enhance industrialisation and therefore boost the nation’s non-oil export base.” He said the creation of the proposed industrial parks was in response to the huge infrastructural gap i...
Read more

The 15 Most Profitable Small-Business Industries

Being talented with numbers can really pay off if you’re looking to start a profitable business. Accounting and tax services takes the top spot on the list of the most profitable type of small business with a generous 18.4 percent net profit margin followed by real-estate services (15.2 percent), law firms (14.5 percent) and doctor’s offices (13 percent) reports Sageworks, a financial data service that analyzed the net profit margin of more than 16,000 small businesses (that earned less than $10 million) between September 2014 and August 2015. (The average net profit across all industries for this report's time period was 7.2 percent.) What makes these industries profitable? For one, they’re driven by human capital. “Service industries,” says Sageworks analyst Jenna Weaver, “are very common to find on the most profitable small-business list. This is generally due to lower overhead and startup costs. A lot of these industries you can start from your house.” Whil...
Read more