Ibeju Lekki Free Trade Zone Master plan
LEKKI FREE TRADE ZONE (LFTZ) is a model city comprising 16,500 hectares to the south east of the the city of Lagos, IBEJU LEKKI to be precise. A land of infinite opportunities bounded by the Lekki Lagoon and the Atlantic Ocean. Lekki is a new city under development, that will operate in accordance to the best international practices and is one of the fastest developing urban areas with an annual economic growth rate of 16.8%. It is a Multi-use facility with zones for Oil and Gas, Industry, Manufacturing, Financial, Real estate, Tourism, and a Strategic plan for a Deep seaport, and an International airport located nearby. The Free zone will provide traders with a global getaway for the regional and International markets.
In 2004 the Lagos State government initiated the Lekki Free Trade Zone project with a vision to fully utilize the investment, business and tourism potential of Lagos.
In an effort to realise this vision, the government of Lagos State, set up Lekki Worldwide Investments incorporated in March 2006 as a limited liability company, Lekki worldwide was created to promote and manage the development of Lekki, anchoring the private/public partnerships strategy.
Lekki worldwide Investments offers a quick, simple and effective registration procedure with one-stop-shop service center to provide all necessary assistance to investors for establishment, registration, licensing and operation in Lekki.
While designing the master plan for the Lekki Free zone, the following options were considered. The first option was focused on medium industry, warehousing, export processing, and light industry .
The second option made more provision for residential use.
The penultimate option considered was one with a focus on self contained residential communities.
Finally a more balanced development with a well structured layout, was decided upon with the Land use divided as follows.
Residential Land a major part of the project with a total area of 22,666 hectares is strategically planned with low and high density residential zones, consisting of town houses and high rise residential buildings which are planned in areas with stunning views of the Lekki peninsula. Also workers housing is tactically placed around the industries with a total area of 1800 hectares for petrochemical industries have been allocated approximately 10% of the Lekki Land. Concentrated in the south east of the Free zone, the land offers use for oil and gas, methanol and Tank farms. Nearby is the land allocated for a seaport along the Atlantic with the total area of 831 hectares. Industrial land for manufacturing home appliances and electronics, textiles and garments, food processing as well as automobile components manufacturing has up to a total area of 1,758 hectares which is mainly located in the West of the Free zone. Integrated with the Industrial land is the Land for storage and logistics, amounting to a total of 1,129 hectares.
At the core and operation centre of Lekki Free zone, public facilities are constructed around the free zone with land allocation for administrative offices, business and finance, culture and entertainment, health, sports and education centres, as well as facilities for power generation and sewage treatment. The total land allocation for public facilities adds up to 1,668 hectares.
Mainly concentrated in the North East of the Free zone, surrounded by the beautiful Lekki and Lagos Lagoon, a total of 508 hectares is allocated for leisure and tourism. This includes hotels, resorts and culture centres. Natural buffer areas amount to a total of 2, 263 hectares of land constituting of green space, internal ecological lakes and vegetation.
Land allocations for recreation centres and parks adds up to 1, 198 hectares taking 7% of the Lekki Free Zone. The land for roads and squares is 4,184 hectares in total which include main roads, secondary roads, access roads and traffic stations.
Lekki Worldwide has adopted a three phase investment and development strategy to developing the Free zone over a 15 year period.
The first phase comprises 3, 000 hectares currently being developed by the Lekki Free Trade zone development company which was formed from a consortium of Chinese investors. The South west quadrant is divided into two functional areas, An ecological industrial park in the South and a new township area in the North. The industrial park divided by the internal roads into a number of parts for the different industries. Logistics and storage sites are integrated with industry in the middle part of the area in order to effectively service the entire industrial park. In order to make good use of the land scape Recourses of the Free zone, the water from the Lekki Lagoon is introduced into the new township area to form an artificial ecological lake surrounded by low density residential communities and multi storey high rise buildings.
Commercial service facilities including hotels entertainment, retail and leisure centres are integrated into the new township. Also educational and health facilities are planned mainly in the North of the quadrant. One water plant is planned in the North East and a sewage plant in the South East. A natural gas power plant is to be built in the east of the quadrant with a three power sub stations and ten sewage pumps scattered around the area. The Lekki coastal road carries the major part of the external transportation. The entire South West quadrant has a road network formed by four east west roads and two north south roads, main roads will be linked through secondary roads and sub roads for patrol will be built in the South and on both sides of the quadrant.
The development of phase one of the project condensed in April 2006. Now Lekki Worldwide is actively identifying the best partnerships to lunch phase two and subsequent phases.
Lekki Worldwide seeks Venture Capital companies to develop the various zones within Lekki. Infrastructure development companies to partner on BOT, BOO or equity sharing basis to develop core infrastructures such as rail, roads, power, ICT, water, waste management, partnerships towards developing a modern international airport. Real estate development companies for joint ventures to develop Lekki’s commercial and residential zones. Companies in the oil and gas manufacturing food processing, textile, hospitality and leisure sectors. Banking and financial services to develop a 21st century financial center.
Why invest in Lekki?
1) 100% tax free imports on raw materials and components for good destined for re-export.
2) 100% waiver on all import and export licenses.
3) 100% permission to sell manufactured, imported, and assembled goods to Nigerian domestic market.
4) 100% waiver on all expatriate quotas for companies operating in the zone.
5)100% tax holiday custom duties and levies.
6) Access to the largest consumer market in Africa with over 500 million potential customers in both Nigeria and surrounding countries.
Call LandForSale.ng on +2348034856834 to buy land(s) in Ibeju Lekki. The best investment on earth is earth.