•For LAGOS Real Estate Investors
Oworonshoki is the real deal now for many property developers! In the last few months, top property developers who believe more in real estate investment are beginning to invest in a large scale in the axis. In fact, many of them are of the opinion that, Oworo as popularly called maybe the 3rd phase of the Gbagada estate in the near future. This statement is beginning to manifest as many property developers are now moving en masse to invest. Let’s quickly tell you about Oworonshoki.
Oworonshoki is a suburb in Lagos State, Nigeria. The community is under the Kosofe Local Government Area of Lagos State. Geographically, Oworonshoki is pivotal to Lagos State as it connects the Mainland and Island areas of Lagos via the Third Mainland Bridge. It also hosts a terminus of the Apapa Oworonshoki Expressway.
Oworonshoki is a fully residential area with a high population density. The layout of the area can be rated as average with fair accessibility. The major road that leads into this area is Diya street from Ifako Gbagada.
Oworonshoki can almost be seen as an Island as it is surrounded by the Lagos Lagoon. A lot of Lagosians consider Oworo (as preferably called) to be the centre of Lagos State because it is well positioned such that it is so easy to reach every other part of Lagos from this area. Redeemed Church of God, Mountain of Fire Ministries and several street mosques are the religious worship centres in Oworonshoki. Schools in the area include; Gulf Flower Schools, New Ocean, Oworonshoki Primary School.
Oworonshoki is one of the few locations in Lagos where, within 7 minutes drive you are in International Airport Ikeja, and you can connect the Island with 10 minutes driving. A lot of people, real estate investors are of the opinion that Oworonshoki is even more central than the popular Gbagada Estate. They said Oworo is easier to connect from the Third Mainland bridge than Gbagada Estate. While some even say Oworonshoki is faster when going to Ikeja, or Airport. We can tell you for free that, all these reasons above are true!
The shocking thing about this town is that, despite the central location and easy access it enjoys, the price of land is still relatively cheap. How do we mean? A plot of land in Oworo now is around 35 million to 40 million naira, depending the location of the land. What majority of people (investors) are doing now is to buy the land with a house, demolish it and erect a modern house. This is the new trend. In ‘Papa’ area; Papa area is the new site, the newly reclaimed land area of Oworonshoki. This location is currently selling for about 40 million naira. A lot of people have erected their houses there. It’s an ocean view location area of Oworo.
One of the property developers selling land in the area is EUC Homes.
The Public Relations Officer of the firm, Mr. Babatunde Adeniran, in a statement released recently said, their estate called “The Third Mainland Courts” located at the Oworonshoki shoreline was part of the company’s plan to end homelessness in Nigeria by 2027.
According to Mr. Babatunde, the Third Mainland courts would be a haven providing the security of a genuine Supreme Court title document and proposed top notch infrastructure and amenities befitting the luxurious landscape.
He said the firm had also established the EUC Homes Foundation which would come up with guides, publicise successful strategies that will inspire a sustained and strategic philanthropic response to homelessness, hunger, and illiteracy.
The statement said, “As we unveil this masterpiece, making dream homes come true is incomplete without making the homeless feel at home we, therefore, urge you to give back to the community in the little ways possible while maximizing this strategic location for your residential, commercial, educational, institutional or recreational purposes for the most beautiful home experience and guaranteed return on investment.”
One property player who spoke with City People’s Isaac Abimbade, Chief Ben Odunzeh, said Oworonshoki is the future! We asked him to explain further. “For every real estate player who wants to invest in the future, either build to rent or build to rent/lease, Oworonshoki is the best bet to do that now”. He said, the location is not in every developer’s eye but it’s one of the best locations for real estate investment on the Island, he said.
Another advantage is that every buyer has a chance to enjoy his or her document. Most of the land there is under the royal family house and they have Supreme Court judgement backing it up. The above claim was confirmed when City People interviewed the late king, Oba Bashiru Oloruntoyin, a few years back.
– ISAAC ABIMBADE
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