How EPE became the new real estate hub of LAGOS – City People Magazine

Epe is what everyone is talking about now, when it comes to real estate investing. The location has suddenly become the No. 1 real estate player.

In recent months, many real estate players have moved towards this axis for large investments.

Where is Epe located? Epe is a town in Lagos State, Nigeria, located on the northern side of Lekki Lagoon and approximately 90 km from Ibadan. In the 2006 census, the population of Epe was approximately 181,409, but the current population has exceeded the official figure, due to new development springing up in the area recently.

Why this sudden rush to Epe?

Last week City People were in Epe and we took a long tour of the city. We also met and talked to real estate gurus who are big investors in Epe.

In recent years, Ibeju-Lekki was the most popular and the real estate hub. In fact, people were saying it was the future of real estate in Nigeria. According to one of the real estate investors who did not want his name published, “Ibeju-Lekki has great potential for all real estate players, a nice place to invest, but I would choose Epe over Ibeju. Why? Epe is a residential area with a good atmosphere. I fear that in the future, the Ibeju-Lekki corridors will be like an industrial area where 24-hour vehicular activities will be a nuisance for residents. Talk about the Dangote Refinery, which occupies a large part of the region. There are plenty of real estate investments out there as we speak, don’t get me wrong. It is also a good location, it all depends on the choice. Hotels, entertainment centers, shopping centers, etc. will be ideal for anyone considering a long-term stay in this axis (Ibeju)”.

Epe is one of the fastest growing places in Lagos State and is appreciating in terms of land prices. This area has gained popularity among real estate players and land agents in Lagos State.

The area is located next to the Ibeju-Lekki axis and is 67 km from Lekki Phase 1, a prime area of ​​Lagos State. Despite the distance of Lekki Phase 1, these two areas are connected by a main road known as the Lekki-Epe highway. Epe also shares a border with Ijebu-Ode region in Ogun State.

Overall, land prices in the area have increased at a rapid rate over the past 5 years.

One of the main causes of displacement to this area is the location of the new airport that will take off in the region. Existing projects and infrastructure pushed by the state government are also responsible. These include the new Lekki Free Zone located in the heart of Epe. The area is expected to have benefits for organizations, such as duty-free operations, among others. These advantages have led to the location of some major projects such as: Dangote Group Refinery and Petrochemical Park, Dangote Fertilizer Plant, Lekki Deep Sea Port, as well as the International Airport Project.

Let’s also say that accessibility is one of the appeals of any place. We can confirm that the construction of an 18.7 kilometer six-lane rigid carriageway between Eleko Junction in Ibeju-Lekki and Epe T-Junction in Lagos State will be completed very soon. It’s 95-98% complete, like when we visited the neighborhood. This alone brought the development of the region.

Currently, land prices in the axis have increased. A plot of 600 square meters costs between 12 and 17 million naira, according to the land document. Real estate players have completely relocated to the axis and are now trying to compete and outsmart each other in order to attract more subscribers to their areas.

Another reason why you need to buy land in Epe is that the Free Zone is licensed by both the Federal Government of Nigeria and the Lagos State Government. Instead, properties in Epe are appreciating rapidly as several companies are investing due to proposed and ongoing development. Also, Epe is conveniently located close to the city center, the town of Alaro covers over 2000 hectares of land in the Lekki Free Trade Zone. The town of Alaro includes storage areas, schools, hotels, offices, and healthcare facilities.

Epe boasts of its colleges and universities, which gives investors an idea of ​​what they can do with their properties.

The famous Yaba College of Technology has a campus in Epe. Augustine University, Micheal Otedola College are also located in Epe. This has led to the construction of education related infrastructure like hostels, restaurants and many more by investors.

Epe also boasts of good road networks: Epe road network is known to connect to Ikorodu, Itokin and also to Ijebu-Ode. The road construction and design projects in Epe were managed by Craneburg and took 16 months to complete. There is also an ongoing road extension from the Eleko junction to Epe. By the time this road infrastructure is fully completed in about 12 to 18 months, we hope it will cost you an arm and a leg to own land in the Epe axis!

– Isaac Abimba De

(08155107955)

How EPE became the new real estate hub of LAGOS was last modified: November 6, 2022 by Isaac Abimbade

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