Dapo Abiodun: Changing The Face Of Real Estate Business Through Infrastructural Development In Ogun—-Ogun State is gradually witnessing a real estate revolution, thanks to the heavy investment in infrastructural development both by the federal government and the Ogun State government.
Investments in road and rail transportations, as well as in a cargo airport, are beginning to attract investment in the real estate sector of the state, as both residential and business properties are springing up around the state, especially in the capital, Abeokuta, its environs, as well as in strategic belts and corridors opened up by new rail and road projects.
For instance, the 14km Ijebu Ode-Mojoda-Epe Road, which was completed in record time, has opened up 30 communities which have been reconnected and real estate development boosted. Potential for investment and industrialisation has also been enhanced with the construction of the road.
Another infrastructural project which has triggered a surge in real estate investment is the 42km Sagamu-Abeokuta Interchange. The interchange is both symbolic and significant, being the gateway to the capital of the Gateway State and stretching through critical business and residential districts.
The reconstruction of that road has significantly increased industrial and residential urbanisation of that corridor.
Coupled with the “Let There Be Light” project, which has lit up the road, the area has become the epicenter of a real estate revolution in Ogun State.
One of the new real estate developments attracted by an upgrade of infrastructure in that axis is the state-owned Kobape Housing Estate, located along the Sagamu-Abeokuta Interchange. The estate is being embarked on under the Affordable Housing Scheme of the state government to further open up the new ‘Greater Abeokuta’ districts.
Perhaps the most eye-catching real estate development in the Greater Abeokuta district is the Bethel Park Estate, by Pleasant House Limited. Located in the rapidly developing corridor of Kobape-Abeokuta axis, the Bethel Park is an exclusive site and service estate with a design of concept for bespoke luxury and lifestyle.
Like other real estate properties springing up in the area, Bethel Park Estate is taking advantage of the proximity of the greater Abeokuta district to new landmarks and infrastructure. For instance, the location is just 10 minutes drive from the Abeokuta railway terminal, from where commuters can take a 40-minute train ride to the Ebute Metta train station in Lagos.
Residents of estates such as the Kobape Housing Estate and Bethel Park Estate only have to spend 12 minutes on a well-paved road to reach Abeokuta’s central business district and 40 minutes to Lagos’ seat of power in Alausa, Ikeja by road.
What’s more, the new estates springing up in Ogun are mindful of comfort, security, ease and aesthetics. For instance, the Bethel Park Estate is complete with good road network, uninterrupted power supply, proper layout, 24 hours security and surveillance CCTV, independent water plant, green areas and recreation facilities.
Without a doubt, Ogun is a model example of how government’s investment in one sector can set off private sector-led revolution in adjoining sectors.