5 REASONS WHY REAL ESTATE INVESTORS ARE RUSHING TO BADAGRY
- Development Potential: Badagry, located in Lagos State, Nigeria, has significant development potential. The area has seen infrastructure improvements, such as road networks and transportation systems, making it more accessible and attractive for real estate investors. The government has also shown interest in developing Badagry as a tourist destination, which further enhances its investment potential.
- Tourist Attractions: Badagry is renowned for its historical significance as a major slave trade route during the colonial era. The area is dotted with historical landmarks, including the Badagry Heritage Museum, the Slave Port, and the First Storey Building in Nigeria. These attractions draw tourists and create opportunities for investors to develop hotels, resorts, and other tourist-related infrastructure.
- Proximity to Lagos: Badagry’s close proximity to Lagos, Nigeria’s economic and commercial hub, is another factor driving real estate investors. With Lagos experiencing rapid urbanization and population growth, there is an increasing demand for housing and commercial properties. Badagry provides an alternative location for investment, offering more affordable options compared to central Lagos while still benefiting from its economic activities.
- Beachfront Properties: Badagry’s coastal location along the Gulf of Guinea offers opportunities for beachfront developments. The area has beautiful beaches, such as Suntan Beach and Whispering Palms Beach Resort, which attract tourists and leisure seekers. Real estate investors can capitalize on the demand for beachfront properties by developing resorts, vacation homes, and entertainment facilities.
- Potential for High Returns: As Badagry continues to develop and attract investment, real estate prices are expected to appreciate. Investors who enter the market early can benefit from capital appreciation and rental income. The combination of development potential, tourist attractions, proximity to Lagos, and beachfront properties make Badagry an appealing investment destination with the potential for high returns on investment.
It’s important to note that real estate market conditions can change over time, so it’s advisable for investors to conduct thorough research, consider market trends, and consult with local experts before making investment decisions. And that’s why we are here read to the end and you can jump to the end to get our details
The Surging Attraction of Badagry for Real Estate Players
Badagry and its surrounding areas have emerged as the latest hotspots for real estate developers in Lagos. Currently, an increasing number of developers are flocking to this region in large numbers. After extensive research, City People has uncovered the reasons why more and more real estate investors are gravitating towards Badagry. In this article, we will discuss our findings and shed light on this growing trend.
A Beacon Of Hope For Residents In Badagry Real Estate
The ongoing construction of the 10-lane dual expressway from Mile 2 to Badagry Town by the Federal Government has brought a moment of relief for the residents of Badagry and its environs. This ambitious project, which commenced a few years ago, is now 70% complete and eagerly anticipated by the average Lagos resident residing along the Mile 2, Oluti, Alakija-Abule, Ado, Ojo-Alaba, Okokomaiko, Ijanikin, and Agbara-Badagry axis. The completion of the expressway, coupled with the introduction of a light rail system, heralds a new dawn for these residents.
Rejoicing Investors and Omo-onile In Real Estate BadagryTo inform about real estate investment opportunities in Badagry.
Real estate investors, particularly those who own large plots of land or undervalued properties in the area, are rejoicing. Additionally, Omo-onile, the local landowners, view this as an opportunity to sell their land at higher valuations. Many real estate players now perceive the Badagry axis as the new Lekki. Over the past few weeks, property valuations in the region have witnessed a steady rise, prompting more individuals to identify it as their next investment destination.
Projected Growth and Delayed Sales In Real Estate Badagry
City People’s research indicates that property valuations in the area will continue to rise rapidly, as major property firms are preparing to invest significant sums to acquire land for the development of expansive estates in the coming months. Another noteworthy discovery is that property firms with substantial investments in the area have decided to suspend sales until the two massive projects are near completion. According to a representative from one such firm, “While we cannot predict the extent of the price surge, we are confident that in the next few months, we will be able to sell properties at twice the current price.”
Government’s Commitment and Progress
Recently, the Federal Government assured the public that the reconstruction work on the Badagry Expressway would reach 80% completion before the end of 2022. This progress has been made possible by the release of funds from the N15 billion tax credit provided by the Nigerian National Petroleum Corporation (NNPC). Adedamola Kuti, the Director of Federal Highway, South-West Zone, expressed his confidence in the project’s funding, stating, “NNPC’s funding for this project amounts to approximately N15 billion, but we have received assurances that the government will continue to support us. That is why you are witnessing significant progress on this road.” These funds have been instrumental in paying outstanding bills for completed work.
The Transformative Power of the Lagos Blue Line
Another project set to revolutionize the Badagry axis is the Lagos Blue Line light rail. This rail project will complement the ambitious reconstruction and expansion of the Lagos-Badagry Expressway from four to ten lanes. The completion of the rail lines promises a better quality of life for residents along the rail routes, with increased economic activities, business growth, and enhanced government revenue.
The Lagos State Metropolitan Transport Authority (LAMATA) believes that the impact of these rail lines will be monumental. By reducing traffic congestion, stimulating growth, promoting public transport usage, attracting business tourism, and improving road traffic safety, these projects will enhance the image of public transportation and encourage more people to opt for public transport. Furthermore, they will increase travel efficiency, boost workers’ productivity, and improve the overall environmental quality. LAMATA projects a reduction of congestion on the two rail routes by more than 50% upon the completion of the initial phases of the rail lines.
Anticipated Completion and Positive Impact
Although the Lagos Blue Line project has experienced delays since its initiation in 2009 by former Governor Babatunde Fashola, Governor Babajide Sanwo-Olu assures Lagosians that the project will be completed by the last quarter of 2022. Rail transportation, as a mass transit system, aims to alleviate traffic gridlock in the metropolis, particularly along the Mile 2-Okokomaiko-Marina corridor. The approximately 27-kilometer Blue Line aims to facilitate economic development along its route. With these transformative infrastructure projects in progress, residents of the Badagry axis will experience much-needed relief, while real estate investors, particularly major players, will be drawn to the area.
List of Villages in Badagry You Should Know Before Real Estate Badagry
HILL CITY PROPERTIES NIG LIMITED
Are you interested to buy land in Badagry or its axis here is an opportunity for you we are always at your service at HILL CITY PROPERTIES you can always get in touch with us and confirm the validity of your land properties based on the direct contact we have with the obas, omo nile bales, and direct owners.
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