Ibeju-Lekki, formerly situated at Akodo, was once a remote local government area in Lagos until the Lagos State government designated it as the site for the proposed Lekki Free Trade Zones. Subsequently, the area garnered significant attention and development initiatives, attracting billions of dollars in both local and international investments. Among the notable projects is the Dangote Refinery, a key player in the region's development.
The area is undergoing rapid and continuous development, with signs suggesting that the commercial center of Lagos state is gradually shifting towards Ibeju-Lekki. Intensive efforts are being made to develop industries and infrastructure, including the Lekki International Airport project. The airport, designed to alleviate pressure on the Murtala Muhammed Airport in Ikeja, is planned to accommodate large aircraft with capacities of up to 500 seats.
In tandem with these proposed industries and infrastructures, Ibeju-Lekki has become a hub for real estate and construction agencies, hosting numerous ongoing estate projects. It's no wonder that Ibeju-Lekki is commonly referred to as the New Lagos.
Illustrating the potential of independent housing projects contributing to the grandeur of the New Lagos is The Alexandra Courts Coastal City, Ibeju-Lekki, powered by Legrande Properties Development Company Limited. This estate boasts over 5,000 quality housing units of 2 and 3-bedroom flats, covering 165 hectares of land at affordable prices. The estate holds a Certificate of Occupancy (C of O) and features facilities such as a shopping mall, medical center, parks, sporting facilities, 24-hour security, electricity, swimming pool/gym, and sewage treatment—a self-contained mini-city.
The Alexandra Courts Coastal City, Ibeju-Lekki Lagos, operates as a Public Private Partnership (PPP) with the Lagos State Government and the Federal Mortgage Bank (FMB). Loans, up to 15 million naira, are available to off-takers who are contributors to the National Housing Fund Scheme.
Estates like The Alexandra Courts contribute to positioning Ibeju-Lekki as the epicenter of luxury lifestyle, making it an attractive option for those seeking to capitalize on the area's exciting prospects. As the region continues to evolve, the value of houses and lands is expected to appreciate, solidifying Ibeju-Lekki's status as the New Lagos.