From Slum to Luxury: The Transformation of Lagos’ Real Estate Landscape

Lagos, as we all know, is the centre of excellence but it has not always been as good as it is in terms of housing. In fact, despite its excellence, many of its residents still live in overcrowded areas. But there has been a massive and noticeable change also in the last decade. Previously neglected neighbourhoods such as Ojo, Iba etc are now evolving into thriving luxury residential zones, driven by innovative real estate development.

This transformation is turning Lagos into a hub of modern urban living, with areas such as Lekki, Ikoyi, and Victoria Island leading the way in terms of luxury, security, and infrastructure improvements.
One of the standout contributors to this remarkable change is privately owned real estate companies of which Bezoh Homes and Investments is a part of. Established in February 2023, Bezoh Homes is dedicated to addressing the housing challenges in Lagos by offering affordable, innovative, and sustainable housing solutions. As Lagos contends with a staggering housing deficit, leaving over 1.5 million people without access to decent accommodation, Bezoh’s projects, such as the upcoming E31 estate, are seen as a beacon of hope for many residents.

The Role of Infrastructure and Green Building Practices

The real estate boom in Lagos is closely tied to significant improvements in infrastructure. With major roadworks, expansions like the Lekki-Epe Expressway, and ongoing projects such as the Fourth Mainland Bridge, previously inaccessible areas are opening up, allowing for large-scale property developments. These infrastructural advancements have catalysed the rise of luxury estates and transformed Lagos into a desirable destination for both residential and commercial investments.

Bezoh Homes has capitalised on these opportunities and is focusing on building eco-conscious communities that cater to the growing demand for secure, modern, and affordable housing. The E31 estate in Lekki County, scheduled for launch in November 2024, promises to be an eco-friendly development equipped with cutting-edge infrastructure such as coded entry security, round-the-clock guards, tarred roads, and proper drainage systems. The estate will also feature abundant greenery to provide fresh air and a sense of tranquillity in the midst of the bustling city.

Bezoh Homes’ commitment to sustainable building practices sets it apart from other developers. As the founder explains, “At Bezoh, we believe that everyone deserves a place to call home. Through innovative design and technology, we aim to provide not just houses but communities that thrive and endure.”

Gentrification and Real Estate Growth in Lagos

As more developers invest in areas once known for their slums, gentrification has become a key feature of Lagos’ real estate growth. Neighbourhoods like Lekki, Ogudu, Ajah, and Ogba are now home to luxurious estates, complete with modern facilities, security systems, and recreational amenities. This shift has attracted investors and homebuyers from both within Nigeria and abroad, boosting property values across the city.

Bezoh Homes is not just focused on luxury living but also on creating inclusive communities where housing is accessible to a broader range of people. Their expansion into real estate management, rentals, and investment management demonstrates their dedication to serving various segments of the market. Future projects are set to continue this trend, ensuring that Lagos’ real estate growth remains sustainable and inclusive.

Challenges and the Way Forward
While Lagos’ real estate sector continues to thrive, challenges such as rising land costs and displacement of lower-income residents persist. However, Bezoh Homes and Investments focus on affordable housing solutions, without compromising on quality, provides a way forward. Their projects are designed to be both accessible and environmentally sustainable, ensuring long-term value for homeowners and investors alike. To learn more about Bezoh’s green initiatives and how you can invest in sustainable real estate, contact us at info@bezohhomes.com or call 09139696172.

Visit us at No. 4b Taiwo Ishola Street off Chief Collins, Lekki Phase 1, Lagos State, Nigeria, or connect with us on social media:
Instagram: @bezohhomes
Twitter: @bezohhomes
Facebook: BezohHomes.
Website: www.bezohhomes.com