Ibeju Lekki 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 and is the current real estate investment destination in Lagos State.
Ibeju Lekki is broadly divided into three principal locations, which are the Free Trade Zone Axis, the Elerangbe Axis and the Lekki-Epe Expressway Axis
The Elerangbe axis of Ibeju Lekki. Here, we will examine the location and its unique offer for the real estate market.
Elerangbe is located off Lekki-Epe Expressway, to the left, immediately after Pan Atlantic University and about 18 minutes’ drive from Abijo Bus Stop. It comprises of places like Okego Village, Tagbati all the way to Arapagi.
Elerangbe offers the cheapest plots of land in Ibeju-lekki at present with plots selling for as low as N500,000 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.
Aimart Realtors is currently selling in this axis at Covenant Park as shown in the earth map below. The company has other locations in Ibeju Lekki which are:
MAP OF IBEJU LEKKI SHOWING THE PROPOSED DEVELOPMENTS.