Lekki Gardens Triggers Development at Ikate Elegushi, Lagos

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By Bennett Oghifo

Ikate – Eleguishi, a suburb of Lagos, is trending as a preferred axis for housing development, for home ownership and for investment, courtesy of Lekki Gardens, a renowned real estate firm that has built sturdy cities and rehabilitated roads in that community.

Lekki Gardens’ projects have thus become a major driver of development in the Ikate–Eleguishi axis of Lagos Island, contributing immeasurably towards its desirability and marketability.

A real estate broker, Makinde Balogun told journalists, at a virtual conference recently, that prior to the advent of Lekki Gardens’ in the area, they had a hard time convincing prospective home owners to take up plots, stating that, interestingly, the story has changed for the best.

Balogun said, “With vast portions of land, low human settlements and shortage of economic advancements, the Ikate–Eleguishi axis of Lagos Island consistently struggled to woo investors and the upper middle class for a long time due to the shortage of infrastructural development in the area, while farther locations like Chevron and Victoria Garden City (VGC) became more prominent.

“However, the last couple of years have experienced massive infrastructural development in the Ikate–Eleguishi area with the arrival of leading real estate companies like Lekki Gardens. Since setting up operational office in the area, Lekki Gardens’, Nigeria’s leading real estate company known for building affordable luxury has made significant impact in boosting development in Ikate–Eleguishi. From constructing a cumulative 4km access road across the Kunsela, Ikate, Eleguishi and Nike Arts Gallery road axis to carrying out over 1km of fencing, 3km2 of landscaping, constructing massive drainage systems and carrying out frequent roads maintenance activities, Lekki Gardens has made sure that the area becomes not just habitable but also easily commercialised.”

According to Balogun, whilst developing this area, they have also built over 2,000 units of luxury apartments in the region which sold for up to 40% below the market value at the time of sale.

“These properties have not only given the area a facelift but have also become the benchmark for luxury living. Interestingly, considering the mega city status of Lagos State and its THEMES (Traffic Management & Transportation, Health & Environment, Education & Technology, Making Lagos a 21st Century Economy, Entertainment and Tourism, Security and Governance) pillar of development, we can say that Lekki Gardens is supporting the state government in its quest to make Lagos a 21st Century Economy and this further creates a need for other private companies to support the government towards making the state better for everyone, and in the words of HE Luccock, “No one can whistle a symphony. It takes a whole orchestra to play it.”