Is Ibadan Nigeria’s Next Real Estate Frontier?

The emergence of Ibadan as a real estate hub in recent years has been a long time coming. Rightfully, Ibadan, Nigeria’s “Premier City” which has popularly been referred to as the City of Brown Roofs has taken laudable strides in the real estate sector in recent years. A series of unprecedented developments in the history-laden city heralded this new development.

Ibadan today boasts of an array of modern shopping malls springing up in and around the city. Also, the ease of traffic on the major roads within the Ibadan metropolis has been the envy of many neighboring states for decades. Unlike in other states with hellish traffic, Lagos especially, commuters in Ibadan move around the city with relative ease.

The soon-to-be-completed Lagos-Ibadan railway network has also served as a significant boost to the developments enveloping the old city. Mr Jide Alade, the Chief Executive Officer, Diamante Casa, a real estate company, in a statement mentioned that the Federal Government’s focus to revive and modernize the Lagos-Ibadan rail network, the increasing new modern shopping malls springing up in Ibadan, et cetera, had seen real estate firms developing new facilities and shopping malls, and commercial activities springing up in the Ibadan metropolis.

Without arguments, as against what obtains in Lagos, Ibadan generally boasts of quality standards of living and yet, a relatively low cost of living which is inclusive of lower rents for properties and apartments, cost of amenities and food items, cheap transportation within the city, quality and affordable schools to mention only a few.

The real estate industry in Ibadan is witnessing an unprecedented change in delivery which has largely been influenced by the preceding developments. The increase in quality of service delivery by real estate companies has paved the way for affordable luxury estates such as Crimson Courts, Legacy Estates, Emerald Court just to mention a few.

The architectural style of Crimson Court, for instance, heralds a new type of real estate design in Ibadan; no longer will Ibadan be called the city of “brown-roofs”. Crimson Court, for instance, also boasts of provisions such as professional uniformed security guards who protect and monitor the gated community 24/7. High perimeter fencing, attention to detail and high quality finishes, tri-level floor plans with high ceilings and large expanses of glazing that provide an open feeling, homes that feature fitted kitchens, laminated security glazing, skylights, built in alternative / solar back up power and centralized utility services have become the regular and expected hallmarks of new estates in Ibadan.

For the foreseeable future, Ibadan is poised to stake her claim as Nigeria’s next real estate frontier. This is the right time for discerning real estate investors to start investing in Ibadan real estate market. With properties like Crimson Court, Legacy Estate, Emerald Court setting the pace, Ibadan will gradually be transformed and become the next real estate hub in Nigeria.

This article first appeared in Nigerian Tribune

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