The Ibeju-Lekki area of Lagos state is seen as the next hot spot for development by several real estate developers and industry experts alike.

Amongst other things, there are plans for the development of a Free Trade Zone (FTZ), Dangote refinery, seaport, an airport, Pan-African University in the area. It is also one of the locations for the Lagos Smart City deal with Dubai, Experts are forecasting that these projected developments coming into the area will increase economic activities in the area, create thousands of jobs and generally make the area a major business district in the country.

Following the current real estate trend in Lagos, estate developers are using these prospective developments as a marketing campaign to lure the public to invest in landed property in the area, as it would be of great value in the near future. The idea is to invest in the area now that it is less developed and relatively affordable, as against when the area is fully developed and property prices skyrocket.

This article aims to review the Ibeju-Lekki area, analyse its prospects in light of the much-anticipated industrialisation, critically review real estate developments in the area, and highlight those that will be of great value in the future; based on Location, Price and Reputation of the developer.

Ibeju-Lekki can hardly be described as a suburb of Lagos these days, as its exterior parts are already fully developed and integrated into the Lekki and Ajah area of Lagos.  As the Lekki Expressway is being widened into a 6 lane express further down, residential and commercial developments follow correspondingly. These developments also come with an astronomical rise in the cost of property.  Also, as gated estates with modern infrastructure seem to be the norm in Lagos, several of these are sprouting all around the Lekki area and also following the pace of development into Ibeju Lekki. Areas such as Abijo, Lakowe, and Awoyaya now have several estates, with the cost of properties in them steadily increasing annually.

However, these parts of Ibeju-Lekki are not the point of focus with regards to the expected industrialization. Most of the industrial developments are taking place along the Lekki Free Trade Zone road, off Eleko Junction along the Lekki – Epe Expressway This place is approximately a 1 hour drive from Ajah, and the traffic duration is expected to increase as commercial activities increase further down the Lekki – Express.