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Coastal road: Land prices jump, new investment opportunities open
Coastal road: Land prices jump, new investment opportunities open
…as construction work on Phase 1 nears completion
In a very dramatic manner, parcels of land along the 700-kilometre Lagos-Calabar coastal highway have, in the last six to 12 months, seen significant price increases, more so as construction on Phase 1 of the project is nearing completion.
The first phase of the highway, measuring 47.47 kilometres, starts from Ahmadu Bello Way in Victoria Island, Lagos, and ends in Lekki around the Lekki Deep Sea Port and Dangote Refinery axis. It is expected to be completed by May 29, 2025.
People who invested in land in all the areas around Lekki Free Tade Zone, Eleko and Ibeju Lekki had been enjoying considerable value appreciation as a result of the coming of developments such as Dangote Refinery, Lekki Deep Sea Port, among others.
The passing of the coastal highway through this axis has raised property values a lot higher in th as many investors swoop on the area, buying just any available land in anticipation of a further rise in prices in the coming years
“You need to visit these areas, especially all the areas around Ibeju Lekki, and see the level of investment going on there. People are taking position because when the coastal road is completed, you can drive to Victoria Island in less than one hour,” Ololarenwaju Kuyebi, managing director, GMH Luxury, said in an interview recently.
“Land value has gone up by more than 200 percent in the last 12 months in Ibeju Lekki. I know of someone I advised to key into the emerging opportunities in that axis. He bought three plots of land at N1.5 million each and, today, one plot is over N3 million,” he added.
Kuyebi disclosed that people are investing in land banking in that area, describing it as a wise investment decision that will give good return on investment in time to come.
Some real estate development companies are also perfecting plans to invest in that axis in the expectation that demand will come. Odunayo Ojo, the chief executive of UPDC , disclosed recently that Ibeju Lekki is part of their new towns development strategy.
Peter Oyedepo, a Lagos-based realtor, who described the coastal road as a transformative piece of infrastructure that promises to reshape Nigeria’s coastlines, enhancing connectivity and driving economic growth, says investors have every reason to invest along the coastal road.
Oyedepo explained recently that because the coastal road connects cities and towns, making once remote places accessible, it will drive population growth and real estate demand in those cities and towns.
He added that besides its economic growth potential, the coastal road will boost tourism. He explained that because the road passes through beaches, forests, and cultural landmarks, it is a prime spot for tourism-related investment such as resorts, hotels and vacation rentals.
Oyedepo advised that people can invest in both residential and commercial properties such as luxury buildings, affordable apartments, office facilities, malls, warehouses, among others. He hopes that all these will be in high demand in no distant future.
The federal government is already taking position along the coastal highway, as the first phase of the road construction approaches completion deadline
The government is planning to create tolling stations and construct tourist centres along the highway, expecting to draw in investors and enhance the country’s economy.
David Umahi, the minister of works, who disclosed this during an inspection tour of the road recently, said the entire road stretch measuring 700 kilometres is expected to be completed within eight years.
“Along the corridor, you have some lands that have been acquired for tourism, industries, factories, housing estates, etc. So, these are the road architectures that will be seen on this highway. And we also plan to have tolling units,” Umahi said.
According to him, the more than $12 billion superhighway project is also expected to be solarised for easy movement at night and security measures. It is also expected to have a flyover to avoid traffic jams. –
BUSINESSDAY
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Adron Homes Hosts First-Ever Golf Tournament, Celebrates Excellence and Sportsmanship
Adron Homes set the stage for a remarkable sporting experience by hosting the Adron Cup Golf Tournament, bringing together golf enthusiasts, industry professionals, and distinguished guests for a day dedicated to excellence, competition, and camaraderie.
The tournament was officially declared open by the Chairman of Adron Group, Aare Adetola Emmanuelking, who earlier this year received the first-ever Nigeria’s Noble Golfer Award, reflecting his growing influence and passion for the game of golf. In a moment that drew applause across the course, he performed the ceremonial tee-off, symbolically setting the tournament in motion.
Following the opening, the Chairman embarked on a tour of the golf course, delighting participants and spectators alike. He played several holes, showing his enthusiasm for the game, while also taking time to engage, encourage, and cheer on the competing golfers.
Players described the experience as inspiring, noting that the Chairman’s presence elevated the spirit of the competition and reinforced the values of sportsmanship and unity that the tournament represents.
As the tournament concluded, Mr. Sunday Aderibigbe, representing the Chairman of Adron Homes, officiated the presentation of awards and the official unveiling ceremony. His presence added prestige to the event and affirmed the company’s continued commitment to celebrating excellence within the golfing community.
The inaugural Adron Cup Golf Tournament marks the beginning of what promises to be a premier sporting event in the region, reflecting Adron Group’s commitment not only to excellence in real estate but also to promoting recreation, community engagement, and healthy living through sport.
The event concluded with commendations for the organizers and enthusiastic feedback from participants, leaving a lasting impression on all who attended.
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Adron Homes Chairman Commends Oyo State’s Real Estate Reforms, Urges Policy Continuity
The Chairman and Chief Executive Officer of Adron Group, Aare Adetola Emmanuelking, KOF, has commended the Oyo State Government for its bold reforms in the real estate sector, describing the state as a land of “history, enterprise, and endless possibilities.”
Aare Adetola remarked while delivering a goodwill message titled “The Real Estate Called Oyo State” at the 2025 Oyo State Real Estate Conference, held in Ibadan.
The event, themed “Real Estate and Economic Development in Oyo State: Strategies for Success,” brought together top real estate developers, government officials, and investors to discuss strategies for improving housing delivery and driving economic growth in the state.
Organised by the Office of the Special Adviser to the Governor on Housing and Urban Development in collaboration with the Real Estate Developers Association of Nigeria (REDAN), the conference highlighted the need for policy stability, public-private partnerships, and innovation in real estate development.
In his address, the Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, reaffirmed the government’s commitment to transparency and investor confidence through the digitalisation of land records (OYOGIS), improved urban planning, and major infrastructure upgrades across the state.
He also cited the passage of the Oyo State Land Control and Administration Bill, 2023, and the establishment of the Anti-Land Grabbing Task Force as key reforms curbing land disputes and promoting sustainable property ownership. Ogundoyin praised major developers such as Adron Homes and MKH Properties for their role in boosting investor trust in the Oyo property market.
In his goodwill message, Aare Adetola Emmanuelking applauded the administration of Governor Seyi Makinde, FNSE, for maintaining consistency in land policies and governance structures, which he said had continued to attract serious investors to Oyo State.
He recalled that Adron Homes made its foray into Ibadan nearly a decade ago based on the state’s stable policy environment, a decision that has since yielded impressive results. He, however, urged the state government and future administrations to ensure policy continuity, warning that inconsistency could derail the progress already achieved.
The conference ended with a collective resolve by stakeholders to deepen collaboration between the public and private sectors, strengthen regulatory transparency, and create a business environment that will make Oyo State a model for real estate investment in Nigeria.
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