In the last few years, developments have moved down to Magboro, Arepo, and Isheri, Lagos/Ogun boundary axis, as more real eatate players have moved there for investment. A lot of people who could no longer afford the rent in Lagos, have also relocated there. Thousands of people have built and building houses there in the last few years.
Lately, a lot of property players have been positioning themselves in and out of Lagos. The scarcity of land in Lagos has forced many of them to move to the border side of Lagos like Mowe, Magboro, Arepo, Ibafo, Simawa, and so on. Prices of real estate in those areas have also moved up because of many reasons. Don’t forget that the construction of the Lagos/Ibadan 4 Highways road is almost completed and as we write, prices of real estate in that axis have moved up because of this single reason.
Another reason is that Magboro/Arepo houses major and key institutions, both, private and public. Before we take you further, let’s tell you more about the Town Arepo. Arepo is a satellite town of the Lagos/Ibadan Expressway in Obafemi Owode Local Government Area of Ogun State. It is a delightful place to live in due to its classic nature and the type of magnificent structures erected in the town. The city is a bubbling environment and boasts of some amazing restaurants, recreation parks, relaxation centres, shopping malls, to mention a few.
Magboro, Arepo and Isheri are fast-developing districts and smart investors are keying into exploring the future realty benefits they have to offer. A few years back, lands at Arepo sold for as low as N800,000. Seeing an upsurge in development, and owing to the ever-growing population of Lagos State, a plot of land at Arepo now costs as much as N15m. The location is also referred to as the new Magodo.
Arepo is approximately a 20-minute drive from central Ikeja and home to over 4,000 residents. It is a perfect location for middle-class citizenry who want to live close to the Lagos capital, thus making commuting stress-free. No one loves to spend those long hours in holdups.
One of the reasons why the locations have become hot cake for real estate investment is that, it has High Return on Investment. It’s amazing how much a plot of land in Mgboro/Arepo/Isheri is selling as at now unlike before. With fast-developing areas like Magboro and Isheri, which are close to the busiest economic city in Africa, there is no doubt on the financial return on investment that will be generated from your investment in it.
Another reason is that, by the time the road is fully completed, people won’t have to worry about traffic. We all know how much time is spent on traffic in Lagos, the traffic in Lagos can be really frustrating, it will only be wise to leverage areas close to Lagos so that time spent on traffic on a daily basis can be totally reduced and your time can be channelled into productive things.
The proximity of Lagos to these areas also gives the area the opportunity to reap the benefits of being close to Nigerian’s commercial nerve centre. And it is steady leveraging on this, as already seen in the price of its properties which will continually increase.
Another thing is that, a lot of developments have sprung up on that corridor.
The corridor has a considerable number of popular luxury estates, some of which are Journalists Estate, Voera Estate, Praise Hill Estate, etc. The fact that these estates are in Arepo tells you the area is fast becoming a hot cake. It is equally important to note that some notable organizations like Punch office, Channels TV, etc, are located in Arepo.
In conclusion, these locations are not just cool places to be or live in, but the next best choice for Nigerians who work in the Center of Excellence and are looking for stress-free ways to commute within the city. There’s also a host of affordable properties you can key into and start building on the go.
Let’s also tell you that, apart from the above points, a lot of people are moving to this axis because of MFM Prayer City which offers a lot to the area. Many people are now investing in the area because of this singular reason.
What about the new RCCG auditorium which is one of the biggest in Nigeria? A lot of people have relocated there just to be close to the worship centre, while the visitors coming to the church would also need where to stay. This has enabled many property investors to move to this axis to cater for their needs.
– ISAAC ABIMBADE
08155107955
