Browsing: Real Estate

Real Estate

The real estate market in the Lekki-Epe corridor has officially transitioned into a “Golden Growth Phase,” with the Ogba-Idunnu and Lekki Aviation Town axes emerging as the primary beneficiaries of the proposed Lekki International Airport. As of January 2026, real estate analysts and major developers, including Harmony Gardens and Estate Development Ltd, have confirmed that this sub-market is outperforming traditional investment zones due to its strategic proximity to a suite of mega-infrastructure projects. Analysts project that capital appreciation for properties in these specific zones will reach 35% this year, driven by an “infrastructure-led growth” model where value spikes are triggered by government approvals and visible construction progress. ​Lekki Aviation Town, positioned directly opposite the 3,500-hectare site of the proposed international airport, is currently being marketed as a “buy-and-build” opportunity rather than a speculative venture. Residential plots of 500sqm in the area are now averaging between N37.5 million and N60 million, while 1,000sqm commercial plots are commanding prices as high as N150 million. Development in the sector is accelerating with the construction of a 2.5km internal road network and the ongoing substructure for the “Asake Cottage” units. ​The rapid appreciation is linked to what experts describe as a “multiplier effect” caused by a cluster of catalysts, including the Lekki Deep Sea Port, the Dangote Refinery, and the Lekki Free Trade Zone. Industry experts are comparing the current state of Ibeju-Lekki and Epe to the early development of Lekki Phase 1, predicting that these regions will become the new economic heart of Lagos. This “Shenzhen Effect” has spurred a massive influx of capital, with developers focusing on the Ogba-Idunnu axis to cater to thousands of high-middle-income professionals migrating to work in the nearby industrial hubs. ​While prime districts like Ikoyi and Victoria Island continue to see stable, moderate appreciation of 5% to 10%, the current “Mainland Renaissance” in Epe and Ibeju-Lekki is capturing the bulk of diaspora and early-stage investment capital. Developers note that the Ogba-Idunnu area has specifically emerged as a preferred residential expansion zone, offering a 15-to-25-minute commute to the new airport while remaining insulated from the direct industrial noise of the Free Trade Zone.

Manny Ita ​The real estate market in the Lekki-Epe corridor has officially transitioned into a “Golden Growth Phase,” with the…