VAFIERO INTERNATIONAL LIMITED
Buying real estate is more than just finding a place to call home. Investing in real estate has become increasingly popular over the last 50 years and has become a common investment vehicle. In view of this, Vaferio International Ltd. thereby presents a proposal inviting prospective developers and investors to invest in highly viable landed properties located in wonderful landscape with fast equity appreciation.
The Location of the Property
Holland park estate, Home Gate estate and Bayside Estate are located at Ibeju-Lekki. Ibeju Lekki is located at approximately latitude 40 °15' N and longitude 130 °15'E. Ibeju-Lekki was derived from the name of two autonomous communities; Ibeju and Lekki sharing boundaries with Ogun state to the North, Eti-Osa Local Government to the West, Epe Local Government to the East and Atlantic Ocean to the South. It is about 75Km long and about 20km at its widest point.
Suffice to say, Ibeju Lekki local government land area is about 646 square km, this equals to one-quarter of the total land mass of Lagos state. Hence, it is regarded as the fastest growing local government area in Africa and the future of Lagos State. The local government is located along the coastal plain of Nigeria. The entire area is below sea level and only at a few places does the land rise above sea level. The soil is sandy around the coastal part, while some area on mud except in few places, Geologically, recent sedimentary layer underlies the local government. The sedimentary rock of alluvial materials is sandy, muddy and unconsolidated. There are many rivers, creeks and lagoons. The rivers are mainly the distributaries of river Oshun and Ome. The lagoons have permitted the development of sand bars and lagoon such as Arapagi, Ita-Oko and refugee islands.
The local government is also covered with mangrove forest at the northern part. Herbs are the most common plants with generous presences of palm and coconut trees
The people of Ibeju-Lekki are mainly Ijebu speaking who have settled in the local government in several autonomous communities. Some of the prominence communities include: Abijo, Awoyaya, Eputu, Lakowe, Bogije, Sapati, Igando-Oloja, Ibeju Lekki, Arapagi, oke-odo Elemoro, Akodo, Magbon-Alade, Eleko, Debojo, Solu-Alade, Iwerekun, Mopo, e.t.c. In all, there are one hundred and fifty five towns and villages here.
Position of the Local Property Market
The Lekki-Epe corridor of Lagos has become irresitble to property and real estate investors. Investors in real estate and property are now flocking the area in anticipation of the opportunities from that area when the $9billion Dangote Refinery, Petrochemical plant, the sea port and other mega projects take off. The influx has triggered a sharp rise in the value of property on the axis. For instance, the rent for a 3 bed room flat in Lekki Phase 1 has increased from #3.5million to #6.5million naira per annum while a duplex rose from #20 million to between #60million and #75million per annum. Apart from residential apartments, offices of banks, insurance companies, big corporate organizations as well as automobile dealers, eateries and shopping malls are found on lekki-Epe corridor.
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