Ibeju lekki is the current real estate investment destination in Lagos State. It is a wide expanse of land that hosts choice developmental projects such as the Lekki Free Trade Zone, Lekki Deep Seaport, Dangote Refinery and Petrochemical Industry, Dangote Fertilizer Plant, International (Cargo) Airport, Lekki International Golf Course, Pan Atlantic University, Eleganza Industries and many others. It is really a hot investment spot.
Ibeju Lekki is broadly divided into three principal locations, which we are set to take you through for your convenience and ease of investment decision making. The locations are the Free Trade Zone Axis, the Elerangbe Axis and the Lekki-Epe Expressway Axis. Please visit our website, www.thesonproperties.com, to read about the reasons why Ibeju-Lekki and Ajah are the most preferred destination for investment today in Lagos state, Nigeria?
Recall we stated earlier that Ibeju-Lekki is divided into three principal locations- the Elerangbe axis, the free trade zone axis and the Lekki-Epe Expressway axis. We will take a look at the Elerangbe axis of Ibeju Lekki. Here, we will examine the location and its unique offer for the real estate market.
Where is Elerangbe?
Elerangbe is located off Lekki-Epe Expressway, to the left, immediately after Pan Atlantic University and about 20 minutes’ drive from Abijo Bus Stop. It comprises of places like Okego Village, Tagbati all the way to Arapagi.
What Makes the Area Attractive?
Elerangbe offers the cheapest plots of land in Ibeju-lekki at present with plots selling for as low as N500,000,000 [N5m] in some areas. Although this axis looks relatively undeveloped, the many proposed key developmental projects coming will open it up to rapid development. This is responsible for the growing interest by property investors. Some of the projects include:
- The Lekki International Airport: The proposed Lekki International Airport is a $450million project located off Lekki-Epe Expressway towards Epe. It is about 4 minutes’ drive from Elerangbe. The Airport is planned to cover 3, 000 hectares of land.
- 4th Mainland Bridge: when completed in 2019 as promised by Governor Akinwunmi Ambode, the 37.9 kilometres 4th Mainland Bridge is principally meant to link Ikorodu and Ajah/Badore through the Elerangbe axis, traversing to North-West direction towards the Lagoon shoreline to Lagos-Ibadan Expressway. This is another reason Elerangbe is gradually becoming a choice location. With the bridge in place, it means that residents of Elerangbe will have easy access route to the Mainland as well as other Island locations.
- Free Trade Zone: At present, it may be hard to establish the possibility of Elerangbe benefiting hugely from the much talked about Lekki Free Trade Zone considering that it would take 50 minutes to drive to the zone from Elerangbe. However, a direct link road between the two locations is being proposed. This will reduce the distance to about 15 minutes’ drive.
For investors interested in this area, these are some of the estates currently selling within the Ibeju-Lekki axis: