Let’s flash back to Lekki Phase 1 in the late nineties, the name then was not Lekki but Maroko (a slum, waterlogged area & mostly home to the less privileged), most people never thought or dreamt that it will turn out to be what it is today, it’s all about vision and getting the right advice from reliable and trusted realtor.
A plot of land at Lekki Phase 1 then close to the popular Victoria Island was selling for around N2 million naira or less, today the story and price have completely changed, a plot of land of about 1,000 sqm at Lekki Phase 1 is currently selling between N80 to N120 million depending on exact location and the area is one of the affluent areas of the state.
Let’s fast forward a bit in terms time and location. Time being year 2018 and location being an area called Awoyaya at Ibeju-Lekki area of Lagos State. A plot of land back then in 1999 / 2000 was selling for between N50 to N80 thousand naira per plot (600 sqm), currently, the same plot in this area now sells for between N8 to N15 Million Naira, depending on exact location and type of title document on the land.
The above are just two examples out of numerous ones in the area.
The major reasons for the above increase in values and appreciations are in two folds; firstly, there are various investment projects in the area that generates thousands of jobs, which ultimately leads to an increase in population and request for accommodation, and secondly proximity to Victoria Island and the Lagos state government’s attempt to industrialize these area via the Lekki Free Trade zone Project, which is currently home to Dangote Refinery (A multimillion dollar investment Project) and many other huge investment projects (Manufacturing industries, factories and various residential estates).
Wise investors have taken advantage of early investments in these areas and are currently receiving massive returns on their investments. The most important is to get the right and trusted realtor to work with.
It’s never too late to invest here, as Infrastructural and Industrial development still continues on a daily basis in these locations, take advantage, get the right investment advice and act now.
We have helped a few clients to secure properties with good titles in these areas and we are here to help you too.
Media & Communications team @ N.I.D Project & Asset Managers.