In recent time, for reasons bothering on iconic developments, Ibeju Lekki, a sleepy town in the Lekki area of Lagos, has become a compelling destination, attracting all manner of investments majority of which cannot be said to be profitable.
Experts explain that these investments that are unprofitable in this burgeoning real estate corridor may have failed to follow good, known and reliable routes, pointing out that there are many of such routes.
For its local knowledge and ownership of genuine properties that are free from government acquisition, Wincover Heights Limited, a relatively young real estate investment, marketing and consultancy firm, is said to be one of the best routes to profitable investment in Ibeju Lekki axis.
This means that investors shouldn’t just invest for the sake of investment, but should seek professional advice and an understanding of the terrain where there are free and unencumbered properties—land for residential or investment purposes—before they commits money to the property.
“Wincover Heights knows the Ibeju Lekki terrain, hence investors can leverage our professional service to own residential or investment property in the heart of the new Lagos without hassles,” managing director of the company, Oluwatosin Obineye, assures.
Obineye told BusinessDay at the weekend that as an MSBN UK Certified Realtor, she is a preferred property sales consultant to many reputable real estate developers in the Ibeju Lekki axis.
She disclosed that they had genuine properties that are free from government acquisition and commitment right beside the Lekki Free Trade Zone (LFTZ) with prices starting from N4 million, noting that these are estates that promise high yield and will sell triple times of the price in a couple of years.
“If you don’t want to own land but want to eat of the good of real estate, you can become one of our investors in our Land Investment Project. This is an initiative where we pool funds from investors to acquire, develop and add value to properties including land and houses and we sell them at a higher price to make profits that are shared across investors,” Obineye said.
Continuing, she said, “with this scheme, you can make 14 percent of your capital in 6months and 30 percent in 10 months, starting from N100, 000 to N100 million capital outlay,” adding that invested funds are backed by A Deed of Agreement, A postdated cheque issued within 48 hours after payment is received, and an insurance policy.
This initiative, according to her, has been in operations since 2018 with over 600 investors cashing out year in, year out.
She advised that it would be a smart move to make the most of the investment season in the first quarter of 2021 to own high yielding – yet secure real estate investment in the Ibeju Lekki which, in her view, is a wealth hub of Lagos.
Obineye offered insights why Ibeju Lekki has an investment destination in Lagos. According to her, a major factor that measures a viable real estate investment decision is rate of return on invested sum per time which Ibeju Lekki offers, making it a preferred destination for smart investors.
“Nigeria has been atop the list of investment destination in Africa for reasons of her vast population estimated at 200 million people half of which are youths. Nigeria received highest Foreign Direct Investment (FDI) in 2020 . This was estimated at $3.3 billion, beating South Africa and only next to Egypt,” said said, adding, “it’s a no brainer that much of this FDI went to the nation’s commercial capital , Lagos, and ultimately Ibeju Lekki.”
Another major reason people should care about investing in Ibeju Lekki, Obineye said, is because it is home to four major multi-million dollar investment developments which are Lekki Free Trade Zone (LFTZ), Lekki Deep Sea Port, Lekki International Airport and Dangote Refinery.
“Nigeria’s Lekki Free Trade Zone (LFTZ) is a national-level overseas economic and trade cooperation zone approved by the Chinese government, dominated by manufacturing, warehousing and logistics, and supported by urban service and real estate,” she explained.
According to her, the total investment in the LFTZ is expected to exceed US$2 billion, recalling that, as of December 2017, the zone had completed more than $205 million in infrastructure investment and provision. It had basically achieved the “five connections and one leveling”, and various supporting facilities are improving day-by-day to meet the needs of enterprises entering the zone.
