The Oshodi Story: A Case for Real Estate Investment

If you were in Lagos in the Late 90’s to the early 2000’s you probably know a part of this story I am about to tell; The  Story of Oshodi.

Within that period Oshodi, a commercial hub in Lagos hit the greatest height of criminal activities, it is on a record that no other state or place in Nigeria has ever hit that level till date! Oshodi was notoriously unsafe , there were charlatans, street Urchins (Agbero), hard drug peddlers and Addicts, 419s (swindlers) , fake money doublers, pick-pockets , ritualists , thieves , armed robbers , there was a rumored hub for hired killers (as we called them then), there was a strongly rumored night open market for guns and human parts , such was the grim story of this strategically located area of Lagos State , Lagosians had resigned to fate , you could see the trepidation in people’s faces as they went through the area , from Bolade to “abe bridge” (Meaning Under the bridge) there was no place of safety! ,  It was as if this was always going to be so!

Fast forward to 2019, The Nation has gone agog with celebration and wonder at the transformation, it seems like magic! Oshodi is now a tourist centre , Lagosians can’t wait to pass through to see the wonder , but alas is it really magic?  No it’s not!

The transformation is based on a simple principle “Crime Prevention through Environmental Design” (CPTED) , all the government did was to change the environment and this eradicated crime in the hub and induced behavioral change , it’s people that commit crime and they are influenced by their environment, change the environment and they either leave or conform! It’s that simple!

There is salient part of this story , The fact that capitalists and real estate investors played a major role , in the early 2000’s shops and stores in this area costs at most NGN200,000, seemed low, but these people held on their investment because all they see was “Location” how strategically located Oshodi was , they kept raising awareness through their association and lobbying the government, they sponsored gubernatorial campaigns and staked their votes to government focus on transformation of the area

It took close to a decade, but the transformation did come!

Now to rent a shop in Oshodi , the least you would get is about *NGN 2,500,000/per annum*, this had ripple effect on the neighboring Residential areas of Ilupeju and Mafoluku with property prices skyrocketing!

Now hear the conclusion of the whole matter, *Capitalists and Real Estate Investors would always WIN* if you see where they are going to where they are , despite what you see on ground , follow them!

In PortHarcourt it’s the New PortHarcourt City and the Choba-Aluu area , Marketsquare , Everyday ,Kilimanjaro, Genesis have all established branches there in recent times despite seeming insecurity, they know something you don’t know! Join them *Boing Luxury Estates* is offering an opportunity for you to get your piece of the cake now it’s hot!

Hope you don’t get to the party late!