Abuja’s uniqueness as the capital of Nigeria has opened many economic opportunities for investors and real estate practitioners. Based on the data from Macrotrends, the city currently has over 3.6 million people from diverse ethnic backgrounds and religious affiliations, bringing heterogeneous buyers and sellers with varying property needs to the real estate market.
Abuja is the centre of political activity in Nigeria, and these activities have tremendously enhanced the economic and infrastructural development of the city. Thereby, making it the choice residence for the top political class, high-income earners, and business location for many leading organizations and government agencies in Nigeria. More people are moving to Abuja because of its economic viability and relative stability compared to other cities in the country.
The continuous population growth has increased the demand for housing and land. Understanding the market trends across the districts of Abuja will be a rewarding effort for real estate investors and individuals or organizations to make a land purchase decision which could benefit from the economic and infrastructural development of the city. Here is a list of four districts of the best options in Abuja.
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Mabushi District, Abuja
Mabushi is a developed district in the phase 2 area of Abuja, located west of the city centre. Mabushi is one of the fastest-growing districts in Abuja that is moving towards sustainable power generation. In 2021, Mabushi Solar won the continental award as the best solar project of the year for commercial and industrial purposes, which is one of the deliberate efforts by the Federal Ministry of Works and Housing to stabilize power in Abuja. Since Mabushi is for industrial and residential purposes, living in a district where power supply is not an issue is an immense resource for families and business owners. The area has a good road network and outstanding social amenities for recreational activities. Therefore securing land in Mabushi is a good investment.
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Lugbe District, Abuja
Lugbe is a developing town in the phase 5 area of the Abuja Municipal Area Council. It is primarily a residential district that offers affordable properties to low and middle-income earners. Lugbe is one of the oldest districts in Abuja. Although the city is densely populated, its proximity to the Nnamdi Azikwe International Airport and home to Novare Gateway Mall, Voice of Nigeria Transmission Station, Nigerian Biotechnology Agency and National Space Research and Development Agency has improved the profile of the district.
Another interesting fact is that the Federal Housing Authority, on August 5th 2022, released an information memorandum titled; Development of FHA Lugbe Housing Estate, which shows the massive infrastructural development that is about to occur in Lugbe. The federal government has commenced a project that will deliver an estimated 772000 sq.m in built-up areas and associated infrastructure serviced plots for self-build residential, commercial, educational, religious and recreational areas. The successful completion of this project will improve the quality of life in Lugbe and bring more people to the districts, thereby expanding economic activities in Lugbe.
Although, Lugbe is presently battling with flood and poor waste management issues. Do not be dissuaded by these challenges. These crises are among the factors that are reducing the values of properties in Lugbe compared to other districts in Abuja, thereby making it cheaper to procure. According to the Nigeria Property Centre, a plot of land is averagely worth 1.5 million nairas in this district. Take advantage of this crisis and invest before the area becomes developed.
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Jabi District, Abuja
Jabi is a developed residential area in Phase 2 of Abuja Municipal. Primarily, this district aims to provide properties for above-middle-income and upper-income earners. Jabi is also close to the city centre. With the recent completion of the Jabi Lake project (costing about 21 million dollars) and the presence of other enviable infrastructures such as Jabi Recreational Park, Jabi Boat Club, and Jabi Gardens, the district is positioned and strategically designed to promote tourism and hospitality sector in Abuja.
Several studies have indicated that tourism and hospitality services play a vital role in the economic development of a society. Hence, businesses that target upper-income earners will benefit from buying land in this district as it will bring them closer to their potential market. Likewise, families that choose to invest in Jabi land will most likely enjoy the serenity and infrastructural design of the district.
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Wuse -2 District, Abuja
Wuse -2 District is also a developed area in phase 1 of Abuja Municipal. It is a developed district for residential and commercial purposes and is known as the commercial hub of Abuja. Wuse 2 primarily caters for the housing needs of the elites and high-income earners. It is an organized and well-planned district in Abuja, as it enjoys top-notch infrastructural facilities. Similarly, Wuse 2 is lively and full of recreational centres that bring fun to the area. The district is the home of several notable businesses and organizations, such as Wuse Market, Bannex Plaza, Sheraton Hotel, National Open University, and Barcelona Hotel, among others. The enormous employment window and high purchasing power in this district make a land purchase in this location a good decision.
Finally, having a land investment in any of these four districts is a good decision since Abuja is generally a planned city, and the government has continued to make efforts towards developing the districts. Active commerce, outstanding infrastructure, and relative stability are factors that make these locations stand out.
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References
Around Abuja (2022). Where Is Mabushi Located in Abuja? Retrieved from https://aroundabuja.com/where-is-mabushi-located-in-abuja/
Macrotrends (2022). Abuja, Nigeria Metro Area Population 1950-2022. Retrieved from https://www.macrotrends.net/cities/21976/abuja/population
Salawe, Z., Minaya, N. & Fernandez, A. Federal Housing Authority. (2022). Information Memorandum: Development of Housing Estate Lugbe
This day (2021). Mabushi Solar Project Wins Award. Retrieved from https://www.thisdaylive.com/index.php/2021/11/27/mabushi-solar-project-wins-award/amp/
Villa Afrika (2022). Jabi Abuja. Retrieved from https://www.villaafrika.com/jabi-district-guide/
Villa Afrika (2022). Wuse Abuja. Retrieved from https://www.villaafrika.com/wuse-district-guide/
Villa Afrika (2022). Lugbe Abuja. Retrieved from https://www.villaafrika.com/lugbe-district-guide/
