Sunday, 10th December 2023

Ibeju/Lekki axis now real estate investment destination, say experts

By Victor Gbonegun
21 February 2022   |   3:55 am
With the increase in real estate development along the Ibeju/Lekki axis of Lagos, operatives in the industry have described the area as first choice destination for real estate investors.

Chairman, AIMART board,Major Gen (Rtd) Muyiwa Badewole(left); Chairman, Ikorodu West council, Abdullahi Olowa; Chairman, Ibeju-Lekki council, Olarewaju Kazeem and Managing Director, AIMART, Mrs. Bukola Iluyomade during the ground breaking ceremony of AIMART’s Intercontinental Park multi-use Estate at Ibeju Lekki.

• As Aimart launches 28-acre Intercontinental Park in Lagos
With the increase in real estate development along the Ibeju/Lekki axis of Lagos, operatives in the industry have described the area as first choice destination for real estate investors.

The experts said this at the groundbreaking ceremony of the Intercontinental Park, a real estate project located along the Lekki Free Trade Zone area of Lagos.

Aimart International, a real estate and investment firm is promoting the project.

Intercontinental Park is being developed on 28 acres of land at Ibeju-Lekki, Lagos and it is conceived as a city with independent hubs for residential purpose, technology, education and business and eco-friendly sustainable gated community offering exceptional facilities and services.

Speaking at the occasion, the Managing Director, Aimart, Bukola Iluyomade said the firm is partnering with Lagos Building Investment Company (LBIC) and Federal Mortgage Bank of Nigeria (FMBN), to ensure that the project is built before the end of this year

She stated that the project is conceived as an integrated city, where investors can work, live and play as well as accommodate variety of people and projects.

Iluyomade said: “We are building a five-star hotel here. The new city is near the Dangote Refinery, and the Deep Sea Port, as well as other sturdy projects. Eighty per cent of the Foreign Direct Investment (FDI) coming into Lagos is in this axis Ibeju-Lekki. So, we decided to create different hubs that people will need.”

Aimart, she said would develop some projects and that other investors would build what they want in their preferred hubs.

She said: “Intercontinental Park is a world-class hub for social, economic, business, religious and recreational activities, within the Ibeju-Lekki axis after Eleko Junction; it falls under the Origanrigan Resettlement Scheme a few minutes’ drives after Dangote Refinery and bordered within a cluster of five residential areas, which are the Dangote residents, Alaro-City, Amen Estate, Heritage Meadow, and Intercontinental Park.

It’s a reality of being part of a hub with multiple streams of income flowing in within a layout of about 20 Acres (approximately 139,000 square meters) of Land which has in it, the Central Business District habouring the Maritime school, Hospitals, Schools (which Holy Child has keyed into), Hospitality, residential apartments, and Resort centers.”

The Chairman, Ibeju-Lekki council, Abdullahi Olowa said Intercontinental Park is a prime investment that occupies a strategic location.

He said: “Our belief that this is New Lagos is real. From the government’s perspective, you’ve taken a strategic decision in investing here. I can tell you it is a very good investment and any other person that wants to invest. I want to urge them to quickly come here. The Deep Sea Port is the first of its kind in West Africa, and it’s two or three minutes from Intercontinental Park. Besides, we have so many private investors coming to invest here in the Free Trade Zone. Dangote Refinery, the single largest train in the world is also here. The founding fathers of Lagos conceived Ibeju-Lekki as the New Lagos and we’re happy that it is happening in our own time. That dream is becoming a reality.”

He explained that investments of the Lagos and Federal Governments in Ibeju-Lekki are deliberate, adding that the Federal Government had awarded a contract for the expansion of road to Elekan area, while the Lagos government will build a rail line in that axis.

On his part, Chairman of Ikorodu West, Olarewaju Kazeem, who said he had been a close associate of the promoters of the city, stated that he was not surprised at the emergence of Intercontinental Park and that he has confidence in them.

The forum attracted Chairman, Aimart Board, Muyiwa Badewole and the Head of Business and Marketing of Aimart, Mrs. Taiwo Bright and other personalities.