The much talked about Lekki International Airport, to be located at the fringe of Epe and Ibeju Lekki, has been approved.
The official approval letter for the development of a passenger and cargo airport in the Lekki-Epe axis of Lagos was officially presented to the Lagos state Governor, Babajide Sanwo-Olu, by the minister of aviation Senator Hadi Sirika on behalf of the federal government yesterday at EHINGBETI 2022 (Lagos Economic Summit).
When completed, the Lekki International Airport is expected to attract an approximate traffic of about 5 million passengers per annum. To put this in proper context, the Murtala Muhammed International Airport in Ikeja currently attracts traffic of 5 million to 7 million passengers per annum.
It is now very certain that the Ibeju Lekki-Epe axis is going to experience massive and rapid development in the coming years. So what does this portend for real estate investment on this axis?
The Lekki International Airport will attract over 5 million people to that axis yearly. Now these people will most likely do a lot of shopping and engage in other commercial/recreational activities, many people will need hotels around the airport, so they don't miss their flights. Once the airport gets busier, a lot of businesses will spring up around the airport. This is a huge goldmine for commercial real estate. The development of the Lekki International Airport, as it is with all new airports, will spur the development of other infrastructure in the area. This will completely transform the Ibeju Lekki-Epe axis as we know it, to an entirely self-sustaining and booming city, and consequently, both land and residential properties will skyrocket to the moon🚀.
If you have already started investing in the Ibeju Lekki-Epe axis, I congratulate you, just keep building your portfolio in that area. If you're yet to start investing in that axis, it's not too late, you can start now. Here are some real estate investment gems we can suggest to you now:👇
▪︎Dukia Africa Resort Estate – ₦15million/500sqm (Residential)
₦40million/1000sqm (Commercial)
▪︎Fairmont Gardens – ₦15million/500sqm (Residential)
▪︎Itunu City – ₦20million/500sqm (Residential)
₦65million/1000sqm (Commercial)
▪︎Future City District 2 – ₦26.5million/500sqm (Residential)
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