From ₦1 million five years ago, the price of a plot of land in Ibeju-Lekki, Lagos has soared to ₦6 million, representing 500 percent increase, correspondent has learnt.

It was also gathered that the land’s price per plot might soar to ₦8 million before the end of the year due to increased demand by investors and home seekers, who are positioning for opportunities inherent in various industries coming up in Lekki Free Trade Zone (LFTZ).

According to the President, Perfection Real Estate Investors Cooperative Society, Mr Niyi Adeleye, the price of a plot of land for earlier subscribers who bought into the vision was ₦1 million about five years ago, now that the land is currently selling for ₦6 million.

He disclosed this in Lagos while allotting plots of land to subscribers of Perfection Cooperative Estate Phase 1 in Ibeju-Lekki, last weekend.

He urged home seekers to take advantage of the opportunity to achieve their dream of homeownership.

Over 500 members of the cooperative, who subscribed to the estate were allocated land at the event witnessed by the paramount ruler, Onileki of Lekki, Oba Olumuyiwa Ogunbeku.

Earlier, the Oba congratulated members of the cooperative for the milestone, urging all allottees to be grateful to God and be part of Perfection Real Estate.

Adeleye said the cooperative society was on a rescue mission to provide the solution to the problem of the society, which borders on housing.

He pointed out that it has been discovered that housing provision was capital intensive, hence the need to come together through cooperative society by pooling resources together to provide wealth and also help the government reduce the nation’s housing deficit.

He described Ibeju-Lekki as a strategic location, adding that LFZ was the hottest investment destination in Africa.

He said the cooperative assets base was now worth ₦1 billion, promising to grow it to ₦50 billion and float a real estate investment trust on the Nigerian Stock Exchange (NSE) in another five years.

According to Adeleye, plans are in top gear to commence construction of 75 units on two bedrooms, 30 units of three bedroom and 30 units of one bedroom bungalows on first 40 plots before the end of the month.

He added that 60 units of one bedroom, 90 units of 2-bedroom and 90 units of 3-bedroom were being planned for another 40 plots in the second batch.

SOURCE : https://brandspurng.com/prices-of-land-in-lekki-increase-by-500-in-just-five-years/

no wonder that my neighbour killed our landlord and coverted his wife and buildings.

It means landed properties keep appreciating and nothing more. Stop spending your money on olosho and unnecessary things but on lands for it will pay soonest...talking from experience.

Demand.

Why the influx to lekki?

abeg who help me see my phone charger

And people keep buying...#futuregoal

Am sure it is the Dangote refinery nearby that is having an effect.

Landowners are looking to cash in.

huh




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I don't even know what to say sef....

Robisky001:
Why the influx to lekki?

There is a refinery nearby, and it has Dangote name on it.

New refinery.... Influx of oil related industries and businesses.... Money.

If I was a lekki landowner, I would add a couple of zeros to the price of my land and sit tight...
.

We sell land in Ibeju Lekki

Caustics:
no wonder that my neighbour killed our landlord and coverted his wife and buildings.

udonminit

Real Estate business is booming in that zone

H

Land wey u go buy finish, Austin And Demola Eletu go send assassin come kee u and collect the land back

Please how do I hv dia contact...I need to buy at least 5 plots of land before it goes for 20m

Cromcruach91:
Am sure it is the Dangote refinery nearby that is having an effect.

Landowners are looking to cash in.

Not only that, New airport and seaport plus other investments

point5:
Please how do I hv dia contact...I need to buy at least 5 plots of land before it goes for 20m

Check my signature or profile.

havillaplus:


Not only that, New airport and seaport plus other investments

Dear God, how I wish I owned land in lekki..

For your ibeju lekki lands, contact us its not late.

ok

metroid:
Real Estate business is booming in that zone

Sure, anyone can tap into the business whether a land buyer or referral.