Invest In Ibeju Lekki’s Free Trade Zone, Elerangbe & Lekki-Epe Expressway Axis

Invest In Ibeju Lekki’s Free Trade Zone, Elerangbe & Lekki-epe Expressway Axis

Ibeju-Lekki is one of the most talked about areas when it comes to Real estate and the reason is not far fetched. Ibeju-Lekki comprises of 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 amongst other notable developments. This is the reason why it is one of the most sought after area by property investors and developers. It is so profitable to invest in Ibeju-Lekki and soon because the prices increase almost on a daily basis.

View — Ibeju Lekki Properties

The three major areas in Ibeju-Lekki are the Free Trade Zone axis; the Elerangbe axis, and the Lekki-Epe Expressway axis.
We will discuss these areas in detail one after the other.

FREE TRADE ZONE AXIS

The free Zone axis starts all the way from Eleko Beach Road and runs through the Free Trade Zone Road to La Campagne Tropicana Resort and beyond. It comprises of the Free Trade Zone, Lekki Deed Seaport, Dangote Refinery and Petrochemical Industry, Dangote Fertilizer Plant amongst others. It is the area that is mostly focused on commercial ventures.

The Lekki Free Zone is made to be a satellite city to Lagos with notable commerce, trade and modern industrial sectors with an eco-city for those who would like to reside in the area.

The Master Plan has a total area of about 30 square kilometres with 27 square kilometres for urban construction purposes. The plan is to make room for a total resident population of 120,000.

The zone has four phases. The first phase, is presently under construction to showcase the Central Business District, residential areas, industrial parks, logistics and warehouses. It is estimated to be ready in about 10 to 12 years.

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The Free Trade Zone Axis, can be seen as a developing area. It currently boosts of a major tarred road and some operational industries. Observing it from a property investment point of view, we would say the area begins from Eleko Beach Road and spans through the Free Trade Zone Road to the La Campagne Tropicana Resort. This description is however just a general estimation because the area promises to be much more bigger as to accommodate all the numerous commercial and industrial businesses that are planned to be set up there. The Free Trade Zone, Lekki Deep Seaport, Dangote Refinery and Petrochemical Industry and Dangote Fertilizer Plant are just a few out of many of such business establishments.

The Lekki Deep Seaport is across the Free Trade Zone Phase 1 and is designed to take care of about 6 million Twenty-foot Equivalent Units (TEUs) of containers. It will equally make room for an estimated 169, 000 jobs directly and indirectly. The project is under construction and it will likely be fully operational in 2019. With about 4 minutes’ drive from the Free Trade Zone you’ll get to the Dangote Refinery and Petrochemical Industry. This is a $14 billion project by Dangote Group. Upon completion it is estimated to refine 650,000 barrels of crude oil daily.

The refinery will not just produce petrol
It will also produce other petrochemical products such as polyethylene and polypropylene. It is believed that the plant will produce up to 90% of Nigeria’s petrol. This is crucial to Nigeria’s economy. The Central Bank Governor, Mr Godwin Emefiele when he visited the refinery emphasized on it’s importance and pledged to support the forex needs of the project. He equally implored other Nigerians to imitate the group and invest in the country. Close to the refinery is the Fertilizer Plant and not so far from that is the La Campagne Tropicana Beach Resort. The effect of all this development is that the price of lands in this area is appreciating very fast and more that the other areas in Ibeju Lekki.

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See – LAND FOR SALE IN IBEJU LEKKI

THE ELERANGBE AXIS

Currently the elerangbe axis hosts the cheapest plots of land in Ibeju-Lekki and is more of a residential location. It is made of places like Okego Village, Tagbati through to Arapagi. Elerangbe is located off Lekki-Epe Expressway to the left, after Eleko Junction. The key infrastructure that is meant to open up this location is the proposed 4th Mainland Bridge and the Lekki International Airport.

Elerangbe is situated off Lekki-Epe Expressway, to the left, right after Pan Atlantic University and roughly 18 minutes’ drive from Abijo Bus Stop. It is made up of places like Okego Village, Tagbati through to Arapagi.

Elerangbe boosts the cheapest plots of land in Ibeju-lekki currently and has plots going for as low as N700,000 in some areas. Despite the fact that this axis looks undeveloped, there are a lot of proposed developmental projects that are already planned that will position it for rapid development. This is the reason why a lot of property investors are interested in the area. Examples of these developmental projects are;

The Lekki International Airport: The proposed Lekki International Airport is a $450million project. It is situate off Lekki-Epe Expressway towards Epe. It is only roughly 4 minutes’ drive from Elerangbe and will occupy about 3, 000 hectares of land.

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4th Mainland Bridge: Governor Akinwunmi Ambode has pledged to be done with this project by 2019. It will be about 37.9 kilometres. The 4th Mainland Bridge is explicitly meant to connect Ikorodu and Ajah/Badore through the Elerangbe axis, traversing to North-West direction towards the Lagoon shoreline to Lagos-Ibadan Expressway. This is yet another factor contributing to the lots of interest that the area gets as there is easy assess to the mainland and other places on the Island.

Free Trade Zone: Though it may be difficult to establish the possibility of Elerangbe benefiting a lot from the popular Lekki Free Trade Zone, especially as it is almost an hour drive from Elerabgbe to the area. Nevertheless a direct connecting road between the two locations is already under consideration. This will reduce the distance to about 15 minutes’ drive.

THE LEKKI – EPE EXPRESSWAY (IBEJU LEKKI AXIS)

Ibeju Lekki on the Lekki-Epe Expressway axis commences from Abijo up to Eleko Junction. The expressway is for both residential and commercial purposes. Some businesses have already been set up there examples of which are Eleganza Industries and Coscharis Motors head office. There are also quite a number of residential estates. It is worthy to note that out of the all the three areas, this is the area where one can comfortably buy, build and settle at the moment. From Eleko Junction to Ajah will only take about 15 minutes’ drive.

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