ERCAAN PROPERTY LISTINGS | June 27, 2013

ERCAAN: STATE

GODAN PROPERTIES

82, Igi-Olugbin Street, Owoutu, Ladi-Lak, Bariga, Lagos

TEL: 08056030177|07025717350

FOR SALE: LAND

Description:       50 Acres + C of O

Location:             Berger Cement, Apapa

Price:                    N150M per Acre

Contact:               Godan Properties|08056030177|07025717350

Description:       14 Acres + C of O

Location:             Kirikiri Road, Apapa

Price:                    N2.5B (Asking)

Contact:               Godan Properties|08056030177|07025717350

Description:       35 Acres + R/C

Location:             Agidigbi Road, Ikeja

Price:                    N160M (Asking)

Contact:               Godan Properties|08056030177|07025717350

FOR SALE: DUPLEX

Description:       5 B/R + 1 Rm BQ + R/C

Location:             Olusola Olude Close, Gbagada Phase 2

Price:                    N60M (Asking)

Contact:               Godan Properties|08056030177|07025717350

Description:       8 Units of 5 B/R Detached House + BQ + C of O

Location:             Ikeja GRA

Price:                    N200M (Asking)

Contact:               Godan Properties|08056030177|07025717350

FOR SALE: BUNGALOW

Location:             2, Adekoga Street, Shomolu + R/C

Price:                    N16M (Asking)

Contact:               Godan Properties|08056030177|07025717350

Location:             Adeshinyan Street, Ilupeju-Onipanu + R/C

Price:                    N18M

Contact:               Godan Properties|08056030177|07025717350

FOR SALE: STOREY BUILDING

Location:             129, Ikorodu Road, Onipanu, Opp. Igbobi Hospital + R/C

Price:                    N85M (Asking)

Contact:               Godan Properties|08056030177|07025717350

FOR SALE: BLOCKS OF FLATS

Description:       A Block of 4 Nos of 3 B/R + 2 Shops + R/C

Location:             Bilikisu Iyinde Street

Price:                    N30M (Asking)

Contact:               Godan Properties|08056030177|07025717350

Description:       A Block of 4 Nos of 3 B/R + R/C

Location:             88, Iwaya Street, Onike

Price:                    N30M

Contact:               Godan Properties|08056030177|07025717350

DADA OGUN PROPERTIES

221, Ijesha Road, Agunlejika B/Stop, Ijesha, Surulere, Lagos

TEL: 08124949018|08076883299|08056655908|08025210124

E-Mail: dadaogunproperties@kyahoo.com

FOR SALE: LAND

Description:       A Full Plot (1101msq2) + C of O

Location:             Behind Jesu Oyingbo, Maryland, Ikeja

Price:                    N20M

Contact:               Dada Ogun Properties|08124949018|08076883299|08056655908

Description:       Half Plot + Receipt &Survey

Location;             Okota

Price:                    N4M

Contact:               Dada Ogun Properties|08124949018|08076883299|08056655908

FOR SALE: DUPLEX

Description:       2 Wings of 4 B/R, all rooms ensuite+ 2 Living rooms + C of O

Location:             Okota, Isolo

Price:                    N45M (Asking)

Contact:               Dada Ogun Properties|08124949018|08076883299|08056655908

Description:       A detached house of 6 B/R + 4 Rms BQ + C of O

Location:             First Avenue, Festac Town, Lagos

Price:                    N70m (Asking)

Contact:               Dada Ogun Properties|08124949018|08076883299|08056655908

FOR SALE: BUNGALOW

Description:       Several Bungalows + C of O

Location:             Ijesha

Price:                    N8.5M-N12M

Contact:               Dada Ogun Properties|08124949018|08076883299|08056655908

FOR SALE: STOREY BUILDING

Description:       2 Storey + R/C

Location:             Morgan, Mushin

Price:                    N30M

Contact:               Dada Ogun Properties|08124949018|08076883299|08056655908

FOR SALE: PETROL STATION

Description:       With Eateries + Land Certificate

Location:             Awolowo Road, Ikoyi

Price:                    N1.5B

Contact:               Dada Ogun Properties|08124949018|08076883299|08056655908

ERCAAN: AGBEDE ZONE

FADO PROPERTIES

28, Assoland Crescent, Opp. Barakat Block, Via Transformer, Agbede, Ikorodu

08033323607|07059232925|08120138012

FOR SALE

LAND

Description:        100 Acres

Location:              @ Yotomi Golden Estate, Via Ofada

Price:                     N1.2M per Acre

Contact:               Fado Properties|08033323607|07059232925|08120138012

Description:        37 Acres

Location:              @ Badagry-Semen Express Road

Price:                     N3M Per Acre

Contact:               Fado Properties|08033323607|07059232925|08120138012

Description:        2 Plots together

Location:              Along Agbede Transformer Road

Price:                     N17M

Contact:               Fado Properties|08033323607|07059232925|08120138012

Description:        4 Acres with C of O

Location:              @ Ikorodu Industrial Area, Odogunyan

Price:                     N50M

Contact:               Fado Properties|08033323607|07059232925|08120138012

Description         4 Plots (fenced, together with gate)

Location:              @ Ikorodu-Sagamu Road, Igbasa Ogijo

Price:                     N40M

Contact:               Fado Properties|08033323607|07059232925|08120138012

Description:        1 Room + Shop on ½ plot

Location:              Along Agbede, Ajegunle Road

Price:                     N2.7M

Contact:               Fado Properties|08033323607|07059232925|08120138012

STOREY BUILDING

Description:        Uncompleted Building

Location:              @ Odogunyan Industrial Area

Price:                     N5M

Contact:               Fado Properties|08033323607|07059232925|08120138012

BLOCKS OF FLATS

Description:        20 Units of 3 B/R on a full plot with C of O

Location:              @ PZ Estate, Imowe

Price:                     N3M each

Contact:               Fado Properties|08033323607|07059232925|08120138012

Description:        3 B/R (Lintel level) on a full plot

Location:              @ Taiwo Str., Off Market Road, Ogijo

Price:                     N3.5M

Contact:               Fado Properties|08033323607|07059232925|08120138012

Description:        3 B/R on 1½ plot

Location:              @ Agbede Omolaiye

Price:                     N5.5M

Contact:               Fado Properties|08033323607|07059232925|08120138012

Description:        3 B/R (Completed) on ½ plot

Location:              @ Agbede Olosugbo

Price:                     N3.8M

Contact:               Fado Properties|08033323607|07059232925|08120138012

Description:        4 B/R on ½ plot

Location:              @ Agbede, near Big Soul Hotel

Price:                     N3.5M

Contact:               Fado Properties|08033323607|07059232925|08120138012

Description:        2 B/R on ½ plot

Location:              @ Agbede Igbobi Estate

Price:                     N2.8M

Contact:               Fado Properties|08033323607|07059232925|08120138012

AUDITORIUM

Description:        Big Church Auditorium + 3 B/R

Location:              @ Agbede

Price:                     N15M

Contact:               Fado Properties|08033323607|07059232925|08120138012

ERCAAN: IKOTUN ZONE 1

Mao International Agency

Plot 1, Odofin close, behind FBN PLC, Ikotun, Lagos

Tel: 08095479261|08058833441|08024338464

FOR SALE: LAND

Description:       1 Plot of Land + Receipt & Survey

Location:             Behind Chrisland School, Idimu

Price:                    N4M

Contact:               Mao International Agency|08095479261,08058833441, 08024338464

FOR SALE: FILLING STATION

Description:       Conoil Filling Station + 8 Pumps, 6 Petrol, 1 Diesel + C of O

Location:             Mokola R/About

Price:                    N220M

Contact:               Mao International Agency|08095479261,08058833441, 08024338464

FOR SALE: HOTEL

Description:       Ikeja Palace Hotel Has C of O

Location:             By Opebi R/About, Ikeja

Price:                    N1.8B

Contact:               Mao International Agency|08095479261,08058833441, 08024338464

Oac Properties Ventures

Tel: 07012760257

TO LET:      2 BEDROOM FLAT

Description:       2 Nos of 2 B/R Flats

Location:             Afolabi Esan Close, Akesan

Price:                    N230 P/A

Contact:               OAC Properties|07012760257

ERCAAN: OKE OKO/ IGBO OLOMU/ ISAWO ZONE

Asiko Josalum Property Venture

Plot 6, Ibrahim Street, Oja B/stop, Isawo Estate, Ikorodu, Lagos

Tel: 08185428592

FOR SALE: LAND

Description:       Acres of Land

Location:             Gberigbe/Oke-Agbo, Ikorodu

Price:                    N300K per plot

Contact:               Asiko Josalum Property Venture|08185428592

Description:       Acres of Land

Location:             Wood Island, Ikorodu

Price:                    N500K per plot

Contact:               Asiko Josalum Property Venture|08185428592

FOR SALE: BUNGALOW

Description:       Completed 3 & 4 B/R Flats on a full plot

Location:             Isawo, Ikorodu

Price:                    N7M-N10M (Asking)

Contact:               Asiko Josalum Property Venture|08185428592

Description:       Uncompleted 2, 3 & 4 B/R on a full plot

Location:             Isawo, Ikorodu

Price:                    N5M-N10M

Contact:               Asiko Josalum Property Venture|08185428592

FOR SALE: BLOCK OF FLATS

Description:       Completed 4 Flats of 3 B/R each on 2 Plots of Land

Location:             Isawo, Ikorodu

Price:                    N35M

Contact:               Asiko Josalum Property Venture|08185428592

Easyway Estate Agent

2, Robinson Alegbe Avenue, Igbo-Olomu, Lagos

Tel: 08187994241 |07067011416

FOR SALE: LAND

Location:             Imuti, Ikorodu

Price:                    N500K Per Plot

Contact:               Easyway Estate Agent| 08187994241|07067011416

Location:             Imagbon, Ikorodu

Price:                    N400K Per plot

Contact:               Easyway Estate Agent| 08187994241|07067011416

Location:             Gberigbe, Ikorodu

Price:                    N300k and above Per  plot

Contact:               Easyway Estate Agent| 08187994241|07067011416

Description:       With foundation + Receipt/ Deed of Conveyance

Location:             Agbede Olosugbo, Ikorodu

Price:                    N2.5M

Contact:               Easyway Estate Agent| 08187994241|07067011416

Description:       With 3 shops at lintel level + Receipt

Location:             Psychatric B/stop, Igbo-Olomu

Price:                    N2M

Contact:               Easyway Estate Agent| 08187994241|07067011416

FOR SALE: BUNGALOW

Description:       3B/R all rooms ensuite + Deed of Conveyance

Location:             Logunlogun, Igbo-olomu,Ikorodu

Price:                    N3.2M

Contact:               Easyway Estate Agent| 08187994241|07067011416

Description:       5B/R on a full plot + R/S

Location:             Olomu way, Igbo-Olomu, Ikorodu

Price:                    N4.5M

Contact:               Easyway Estate Agent| 08187994241|07067011416

Description:       3 B/R flat fenced with gate + Deed of Conveyance

Location:             Muyideen Bello St, Isawo

Price:                    N4.5M

Contact:               Easyway Estate Agent| 08187994241|07067011416

ERCAAN: FESTAC ZONE

ECGELAS Ventures

Tel: 08033323094|08028046802

FOR SALE: LAND

Description:       27 Plots for commercial use + C of O & O.N.O

Location:             Along Apapa/Oshodi Exp. Way

Price:                    N1.2B

Contact:               ECGELAS Ventures|08033323094|08028046802

FOR SALE: DUPLEX

Description:       5 B/R

Location:             Awe Street, Okota

Price:                    CALL

Contact:               ECGELAS Ventures|08033323094|08028046802

THE CHALLENGES OF MORTGAGE AND AFFORDABLE HOUSING IN NIGERIA

                                                       

By Olumide T. Agunbiade |Nigerian writer

Several years ago, two notable economists, Arvind Subramanian and Xavier Sala-I-martin, in a paper for the IMF said Nigeria was a ‘metaphor per excellence of a failed development experience,’ describing the government as so damaging to progress that Nigeria would be better off if someone sat down and wrote out cheques to every citizen to the portion of their share of oil receipts.

A typical housing estate in Nigeria                

All governments in Nigeria since independence have highlighted housing as a priority. Unfortunately, the nation is yet to develop a vibrant mortgage market and houses continue to be provided through the usual traditional method of buying land and building over some years or saving to buy a home which could take an individual’s entire lifetime.

Recently, the Federal Government has appealed to private sector operatives to increase their investment in the housing sector in order to assist the government in housing the citizens in line with vision 2020 when the nation hopes to join the 20 largest economies of the world.

Experts also believe that efficient, accessible, simple regulations and clear property rights can expand the natural entrepreneurship of small and medium size firms even further. However, the ‘World Bank’s Doing Business’ in Nigeria 2010 report revealed that it is easier to do business in Jigawa - a state declared as the poorest state in Nigeria by World Group and the CBN two years ago - and other northern states than any major cities in Nigeria.

ERCAAN LAGOS STATE: REFORMATION AND PROGRESS REPORT

By Hon. Abayomi Olayoriju

I

t is amazing when you behold the new face of the ERCAAN in Nigeria today, most especially in Lagos State. The achievements have been very massive in all the 57 Local Government Areas.

The association is wearing a new and well organized statute. Let’s start, by getting to know what exactly ERCAAN is all about. ERCAAN is a gathering of trusted, tested and well educated gentlemen and women in the profession of Real Estate business. It is the only Association recognized and licensed by the Lagos State Government with over 42 Zones and over 16 Units to its credit in Lagos State alone.

How did ERCAAN came to existent? ERCAAN became an association because of a dishonest tenant. This dishonest tenant registered with the founder of ERCAAN Pa Chief Michael Adeogun who as an Estate Agent reached an agreement with the tenant. The agreement was that, Chief Michael Adeogun will be paid a 10% commission for this service after getting a place for the tenant. But after securing an accommodation for the tenant, he the (tenant) by passed the agent “Chief Michael Adeogun, and paid directly to the Landlord of the house, thereby evading the agreed commission of the Agent. It was reported to the law enforcement agents (Police).

Chief Michael Adeogun was advised to work with his fellow agents to form an association in order to protect their cause, which lead to the formation of ERCAAN today. Pa chief Michael Adeogun in collaboration with Mr. Akin (Deceased) Mr. Soneye (Deceased) Mr. Basil Uzoma, Pastor Wahidi Sobona, Elder A.S. Adejuwon and Pastor J.O. Oshinuga came together and formed what we now call ERCAAN. This was in order to stop questionable and dishonest characters or rather customers from debarring their source of income.

These gentlemen formed ERCAAN as an association in 1990, and was registered with the Federal Ministry of Internal Affairs. Under the land (Perpetual succession) Act cap 98 with No. 6223, as an Association on 8^th August 1991. ERCAAN was formed, registered and incorporated in the interest of practicing Nigeria Real Estate Agents who engages in genuine and honest Real Estate property consultancy, by rendering, honest and quick services to their clients, irrespective of Nationality, Tribe, Sex and Agents who have excelled in the field of Real Estate Property consultancy.

WILL MORTGAGE RATE SURGE HURT HOUSING MARKET IN NIGERIA?

 By Olumide T. Agunbiade |Nigerian Real Estate Writer and Blogger

Follow @olumideblogzin 

I

F Nigerians were not buying homes when rates were 18%, what happens now that rates have been increased to over 20%?

Back In October 2011, the Monetary Policy Committee (MPC) in an emergency session to bail the depreciating currency, stabilize the naira and peg the inflation pressure; announced the following rate changes: Monetary Policy Rate (MPR) was increased by 275 basis points from 9.25% to 12%. The Central Bank of Nigeria (CBN) also maintained the current symmetric corridor of +/-200 basis points around the MPR. Also, the Cash Reserve Ratio (CRR) was increased from 4 to 8%.

Before seeking and sampling the opinions of experts on these astronomical hikes, several questions besieged my thoughts: Should the quest to save the naira be a singular reason to hike? Did the MPC consider the impact on the real estate sector?

Was the timing right, considering the fuel subsidy removal already generating heated debate? Does saving the depreciating naira and foreign reserve have a huge economic impact as to adjusting rates and fiscal measures to impact on agriculture and housing market?

QUICK LETTING: 2 B/R FLATS | June 7, 2013

Description:    New House| Upstairs| 2T/2B

Location:        Sabo

Price:               N500K P/A

Contact:          N.D.U Properties|08060582861|08128061566

Description:    Yoruba/ Working Class (Wanted)

Location:        Ogunbadejo Street, Bariga

Price:               N300K P/A

Contact:          Evang.Soneye Properties|08076582065|08141233287

Description;    New House| 2T/2B| Muslim (Wanted)

Location:        Awofodu, Shomolu

Price:               N400K P/A

Contact:          Elder Emmanuel Okeleye Properties| 08026609545

QUICK LETTING: MINI-FLATS | June 7, 2013

Description:    New House|2T/2B|Young Igbo Tenant (Wanted)

Location:        Awin Close, Ilaje, Bariga

Price:               N250K P/A

Contact:          Thompson Properties|08035727845

Description:    Upstair|With Floor tiles|Painted

Location:        Bariga

Price:               N200K P/A

Contact:          Thompson Properties|08035727845

Description:    New House

Location:        Jolad Area, New Garage

Price:               N270K P/A

Contact:          Thompson Properties|08035727845

QUICK LETTING: 3 BEDROOM FLATS| June 7, 2013

Location:        Ajileye Street, Ilaje

Price:               N450K P/A

Contact:          Constant Ventures|08084555340|07065173466

Description:    Up; 1T/1B

Location:        Moronfolu Street, Akoka

Price:               N500K P/A

Contact:          Constant Ventures|08084555340|07065173466

Description:    Ground Floor; 1T/1B

Location:        Fola-Agoro

Price:               N450K P/A

Contact:          Sunny World Estate Valuers| 08026054600|08032520036

THE CHALLENGE OF MORTGAGE AND AFFORDABLE HOUSING IN NIGERIA

By Olumide T. Agunbiade|Nigerian Writer & Blogger

Follow on twitter @olumideblogzin

S

A Nigerian housing estate

everal years ago, two notable economists, Arvind Subramanian and Xavier Sala-I-martin, in a paper for the IMF said Nigeria was a ‘metaphor per excellence of a failed development experience,’ describing the government as so damaging to progress that Nigeria would be better off if someone sat down and wrote out cheques to every citizen to the portion of their share of oil receipts.

All governments in Nigeria since independence have highlighted housing as a priority. Unfortunately, the nation is yet to develop a vibrant mortgage market and houses continue to be provided through the usual traditional method of buying land and building over some years or saving to buy a home which could take an individual’s entire lifetime.

Recently, the Federal Government has appealed to private sector operatives to increase their investment in the housing sector in order to assist the government in housing the citizens in line with vision 2020 when the nation hopes to join the 20 largest economies of the world.

Column: Living your Space- The Kitchen (1)

By Elizabeth Onuoha

T

he kitchen is simply a place in the house where food is prepared. It could also be referred to as the ‘heart beat’ of the home; this is pretty obvious as we all must eat.

In this edition, which is going to be in two parts, we will be taking a look at the basic issues involved in the interior design of the kitchen and how we can make the kitchen practical enough to suit various needs.

The basic issues involved in interior design of the kitchen, are basically the same for every kind of space, but in residential designs, kitchens attract particular interest on the part of occupiers. I will never forget the shock I got when I first sighted the kitchen in my house.  As a result of my very busy schedule, I asked my agent to help me look round for an apartment. I gave him my specifications and impressed it on him that space is of importance.

A modern kitchen

You can imagine the rude shock I received when I came face to face with a kitchen no bigger than a cell and a large store. I had made the mistake of trusting my agent and had paid up without first inspecting the property. What was I to do with such a huge store even if I were storing food for an army!

This was not practical for someone who lived alone so I had to learn to live with my kitchen. Builders have long learnt that attractive kitchens sell a house faster than any other feature. The designer of a kitchen must carefully take into consideration the needs and desire of the actual users. The designer should find out what meals are to be prepared, how many people will work in the kitchen during meal preparations, will the kitchen also accommodate a washing machine, will there be a provision for serving and eating in the kitchen, and finally the size of the family will also be considered.

BUNGALOW @ ORIJO | May 30, 2013

Description:       2 B/R & Mini-Flat

Location:             Ogijo

Price:                    N4M|Asking

Contact:               Easylink Properties|017464981|08028381253|08181268897

FOR SALE: LAND @ LAGOS-ISLAND | May 30, 2013

Description:       3 Plots |1893.346sqmts|On a corner piece

Location:             Beside UBA H/Quarters, Marina, Lagos Island

Title:                     Has Title Documents

Price:                    N750M |Asking

Contact:               Easylink Properties|017464981|08028381253|08181268897

FOR SALE: 3 B/R FLAT @ LOWA | May 30, 2013

Description:       4 Units

Location:             Lowa    

Title:                     Has Documents

Price:                    N25M |Asking

Contact:               Easylink Properties|017464981|08028381253|08181268897

FOR SALE: 3 B/R FLAT @ IGBO-OLUWO | May 30, 2013

Description:       4 Units

Location:             Lowa

Title:                     Has Documents

Price:                    N18M|Asking

Contact:               Easylink Properties|017464981|08028381253|08181268897

FOR SALE: BUNGALOW @ IGBO-OLOMU | May 30, 2013

Description:       4 B/R Flat

Location:             Igbo-Olomu

Title:                     R|C

Price:                    N7M|Asking

Contact:               Easylink Properties|017464981|08028381253|08181268897

FOR SALE: BUNGALOW@ OKE-ORIYA | May 30, 2013

Description:         4 B/R

Location:             Oke-Oriya

Title:                     C of O

Price:                    N16M |Asking

Contact;               Easylink Properties|017464981|08028381253|08181268897

FOR SALE: LAND @AGURA | May 30, 2013

Location:             Agura

Price:                    N350K

Contact:               Easylink Properties|017464981|08028381253|08181268897

FOR SALE: LAND @ OGIJO | May 30, 2013

Location;             Gbaga, Ogijo

Price:                    N350K

Contact:               Easylink Properties|017464981|08028381253|08181268897

FOR SALE: LAND @ ADAMO | May 30, 2013

Location:             Oke-arobi, Adamo

Price:                    N350K

Contact:               Easylink Properties|017464981|08028381253|08181268897

FOR SALE: LAND @ IKORODU | May 30, 2013

Description:       1 Plot

Location:             Lagos Road, Church B/Stop, Ikorodu

Title:                     R|C

Price:                    N20M |Asking

Contact:               Easylink Properties|017464981|08028381253|08181268897

Description:       2 Plots

Location:             Lagos Road, Jumofak B/Stop, Ikorodu

Title:                     R|C

Price:                    N60M|Asking

Contact:               Easylink Properties|017464981|08028381253|08181268897

FOR SALE: STOREY BUILDING @ LAGOS ISLAND | May 30, 2013

Description:        3 Storey Building

Location:             Elegbeta Street, Off Apogbon Street, Lagos-Island

Price:                    N120M|Asking|Has Title & Documents

Contact:               Easylink Properties|017464981|08028381253|08181268897

Description:        4 Storey Building

Location:             Broad Street, Lagos-Island

Price:                   N800M |Asking|Has Title & Documents

Contact:              Easylink Properties|017464981|08028381253|08181268897

SPECIAL REPORT: REAL ESTATE OUTLOOK IN NIGERIA

By Olumide T.  Agunbiade |Nigerian writer and Blogger

www.facebook.com/Agunbiadeolumide|Follow @olumideblogzin 

A Nigerian Estate

IN development terms, the last few years and first few years of the 20^th and 21^st century in the Nigerian Housing Sector have been a total failure. Between 1973 and 2006, the Federal Housing Authority (FHA) built only 30,000 housing units-nationwide.

Nigeria has a large and ever increasing housing deficit which stood at approximately 8 million housing units in 1993 and 12-14 million in 2007. A recent estimate puts Nigeria’s housing deficit figure higher at 16-18 million. “At an average cost of N2.5 million per housing unit, Nigeria would require N35 trillion to fund a housing deficit of N14 million housing units.’’ Says Olusegun Adeniji of Federal Mortgage Bank of Nigeria (FMBN) in 2007.

Several factors had been identified as responsible for these shortages. According to Mohsin Khoda, a Land Acquisition Manager with Kings Land Global Investment Company based in Dubai, “supply is limited while demand is high due to increase in population.’’

In Europe, the expansion of European Union (EU), migrant workers, increased divorce rate, longer life expectancy and overcrowding of the major cities have been identified as the reason for the shortage. In contrast, Nigeria’s urban housing problems manifest in overcrowding, mortgage, slum housing, poverty and widespread institutional mediocrity.

According to the World Bank’s Doing Business 2008 report, getting a license such as construction permits or approvals in Nigeria takes 16 procedures which require an average of 465days. These procedures are complex, expensive and usually encourage illegal construction as well as slum settlements with its attendant health and environmental issues as visible all over the country.  

LAGOS LIGHT RAIL: ANTICIPATING A WORKING MEDIUM

 By Olumide T.  Agunbiade and  Olalekan Paul

WITH the capacity to employ over 300, 000 workers, cover a distance of 57 kilometers and a construction cost of about N500 billion (3 billion USD), the Lagos Light Rail Project is arguably one of the biggest on-going projects in Africa.

The Light Rail is a bold statement by the state government in its drive towards achieving a Mega City status for Lagos state. Lagos, Nigeria’s economic hub accounts for about 65% of industry in the country and contributes more than 70% of the nation’s economic output.

The light rail, which has its Blue Line near completion, will transport 40, 000 commuters to and from work daily. The Blue Line will have 13 stations and end- to-end journey will take only 35 minutes approximately-a sharp contrast to the long hours it currently takes by road coupled with the traffic nightmare.

According to CPCS Transcom, an infrastructure development consulting firm, and transaction adviser to the Lagos State Government for the Blue Line project, ‘‘the infrastructure will consist of 27km of double track, 13 passengers stations, and a 1250-metre 4-track bridge spanning the  lagoon and connecting Lagos Island to the mainland. The Blue Line will be the first of 7 light rail transit that will eventually comprise the Lagos Urban Rail network.’’

On completion of the Blue Line, construction of the Red line will commence. It will run from Marina to Agbado in Ogun State. It is expected that the line will share the existing 30 metres wide right-of-way with the Nigerian Railway Corporation (NRC) line.

QUICK LETTING: ANTHONY |May 27, 2013

DUPLEX

Description:                4B/R + BQ |In an estate|

Location:                    Anthony

Price:                           N2M P/A

Contact:                      SUREGROUND REAL ESTATE|08181330498|01-4544281

Description:                5 B/R+BQ| New House

Location:                    Anthony

Price:                           N2.5M P/A

Contact:                      SUREGROUND REAL ESTATE|08181330498|01-4544281   

3 B/R FLATS

Description:                2T|2B

Location:                    Anthony

Price:                           N900K P/A

Contact:                      SUREGROUND REAL ESTATE|08181330498|01-4544281

QUICK LETTINGS:@ GBAGADA |May 27, 2013

2 B/R FLATS

Description:                2T|2B

Location:                    Gbagada Phase 2

Price:                           N850K P/A

Contact:                      SUREGROUND REAL ESTATE|08181330498|01-4544281

3 B/R FLATS

Description:                2T|2B

Location:                    Gbagada Phase 1

Price:                           N750K P/A

Contact:                      SUREGROUND REAL ESTATE|08181330498|01-4544281

QUICK LETTING: @ LEKKI |May 27, 2013

DUPLEX

Description:                Serviced 4 B/R terrace duplex+BQ

Location:                    Lekki Phase 1

Price:                           N5M|SC: N750K

Contact:                      SUREGROUND REAL ESTATE|08181330498|01-4544281

2 B/R FLAT

Description:                Ensuite

Location:                    Lekki Phase 1

Price:                           N2M P/A

Contact:                      SUREGROUND REAL ESTATE|08181330498|01-4544281

QUICK LETTING:@ IKEJA | May 27, 2013

DUPLEXES

DESCRIPTION:            5B/R + BQ

LOCATION:                  Off Opebi Rd, Ikeja

PRICE:                           N5M P/A

CONTACT:                   HAMSTRUCT SERVICES LTD|08023223704|08135374450

DESCRIPTION:            Serviced 4B/R+ 1RMS BQ + 4T/3B

LOCATION:                        Off Opebi Rd, Ikeja

PRICE:                                  N2.5M P/A

CONTACT:                   HAMSTRUCT SERVICES LTD|08023223704|08135374450

Description:                2 Wings of 4 duplex+BQ| Newly Built

Location:                    Ikeja GRA

Price:                           N6.5M/Wing| RC: N450K

Contact:                      SUREGROUND REAL ESTATE|08181330498|01-4544281

Description:                5 B/R Semi-Detached Duplex+BQ

Location:                    Off Allen, Ikeja

Price:                           N2.5M P/A

Contact:                      INTEGRATED ESTATE SERVICES LTD|0803-33737841|0818-717-3571

QUICK LETTINGS: @ ILUPEJU| May 27, 2013

DUPLEX

Description:                2 Units of 5B/R + 1RM Bq

Location:                    Ilupeju

Price:                           N3M/Unit

Contact:                      SUREGROUND |08181330498|014544281

3 B/R FLAT

Description:                2 Nos of 3B/R Flat| New| All rooms ensuite|

Location:                    Ilupeju

Price:                           N2M P/A

Contact:                      SUREGROUND |08181330498|014544281

QUICK LETTING: DUPLEX@ ILUPEJU|May 27, 2013

Description:                2 Units of 5B/R + 1RM Bq

Location:                    Ilupeju

Price:                           N3M/Unit

Contact:                      SUREGROUND REAL ESTATE|08181330498|01-4544281