Read more about Real Estate
Given Abuja’s population surge, it’s easy to see why it’s a favourite location for real estate investors. Not many places in Nigeria offer the sort of opportunities it presents. Some have gained by flipping land for profit over short periods; others have bought and held property there and watched its value rise to several times its original worth. If you would like to invest in Abuja’s booming real estate market, here are five locations you may consider.
Lugbe
Lugbe lies to the South West of Abuja’s Central Business District; a journey between both locations would take a 15-minute ride to complete. While it wasn’t originally part of the Federal Capital City (FCC), has more recently been incorporated into Phase 5 of the FCC. The district is developing fast. Growing interest from people who prefer it to the more expensive centre of Abuja has caused a rapid appearance of housing projects, including several estates. Some of these estates have been completed; others are still under construction. They include the Federal Housing Authority (FHA) Estate, Osilama Garden Estate, Trademore Estate, and Triumph Estate. Abuja’s Airport Road passes through the district. Notable sites there include the Novare Gateway Mall, Nigerian Biotechnology Agency (NABDA), National Space Research and Development Agency (NASRDA), and the Voice of Nigeria (NOA) Transmission Station.Jahi
Jahi is to the East of Gwarimpa Estate, a well-known neighbourhood of the city, and North West of the Abuja Central Business District. It’s in the Abuja Phase 2 area. Although not fully developed, there’s a lot of interest in it, thanks to its strategic location. The population of the area continues to grow. Despite its proximity to Gwarimpa, much of Jahi remains relatively affordable. Residential areas in the district include Korochi Apartments, Peace Apartments, and Jahi Residential Apartments. The major roads in Jahi are the Ahmadu Bello Way, Katampe Road, and the Murtala Mohammed Expressway. Top sites in the city include the Jahi Badminton Club, Abuja Enterprise Agency, and the NEXT Cash and Carry store.Sign up to the Connect Nigeria daily newsletter
Mpape
Mpape is about 17 km north of Abuja Central Business District. Famous for its crushed rock site and rocky cliffs, the district also has great real estate potential. That’s because of its location, just north of Maitama, and the fact that it draws in tourists. The hilly nature of the district means that houses can be built in places with scenic views of the city. This is sure to raise prices in the future, as aesthetically minded investors jostle for the best spots. At the moment, prices remain within the reach of many investors. Key sites here include the Maitama Hills and the Mpape market.Lokogoma
Lokogoma is 25 minutes away from the Central Business District (which is to its North East). Like several other areas around it, Lokogoma has its beginnings in residential extensions to the city proper, which were granted by the city’s authorities. There are several estates in the area; Sunnyville Estate, Micheville Estate, Pentville Estate, and Efab Estate. Many of the residents are middle-class people, who seek something between the absolute affluence of the city centre and the working class modesty of the satellite towns. Lokogoma is bounded on its north by the Lokogoma expressway.Mabushi
This district is snuck in between Wuse 2 and Kado—that’s between the central and outer areas of the city. One striking thing about Mabushi is that it’s fairly well developed. The greenery and tree-lined streets make it the preference for people who prize nice views. Some of the estates in Mabushi are the Rosewood Garden Estate, Abba Court Estate, and Crown Court Estate. There’s a lot of room for more residential development here; realtors know this, and they’ve been quite interested in the area for a while now. The Ahmadu Bello Way goes through its northern end, and the Shehu Yar’adua Way passes its southern part.Final Words
Abuja’s real estate scene will continue to thrive for the foreseeable future. If you have the resources at your disposal to invest in it, you should consider doing so. Just do your due diligence before getting in. Featured Image Source: RealestatEkoGot a suggestion? Contact us: editor@connectnigeria.com
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