Isale Eko, Lagos-A wasting Prime Real Estate
Driving through 3rd mainland bridge , i always cant help but notice the changing landscapes, from the distinct and beautiful University of Lagos Lagoon front to the shanties of Makoko, the slums of Ebute Metta lagoon front and most striking of all is the emptiness of a large swathe of overpopulated, underdeveloped area abutting the high-rises of Marina- ISALE EKO.
This is the ancestral home of the indigenous people of Lagos Island, the Afro-Brazilian immigrants and the Creoles/Saros- descendants of Sierra Leonean immigrants . It has a very rich cultural history dating as far back as the 16th century. This historical neighborhood was once the premier real estate location in Nigeria even before the conception of Ikoyi. Beginning in 1861 after Lagos became a British protectorate, many Brazilian and Creole returnees built Brazilian styled architectural edifices in their distinct neighborhoods, the wealthy natives also followed suit. Within a short time, Lagos island became a sprawling residential and commercial center of the young British colony.
Overtime, this former prominent neighborhood started to lose appeal, due to several bouts of epidemic, poor sanitation and encroaching commercial activities. British settlers and elites started looking for new living spaces which berth Ikoyi, Ebute Metta and Victoria Island. Still, most indigenous families retained their family homes in Isale-Eko. Fast-forward to today, Isale-Eko has become a huge swathe of over-crowded prime real estate mess occupied by impoverished aliens (Non-indigenes) and dilapidating ancestral family homes. Development seems to keep eluding this rich neighborhood despite its enviable and well appointed location within the very heart of Lagos metropolis. While nearby neighborhoods of Ikoyi keeps evolving, Ebute Metta undergoing consistent regeneration, Isale Eko seems frozen in a time web of perpetual degeneration. Its funny that Isale Eko along with Banana Island, Victoria Island and Lekki Phase One are all connected by the Lagos Lagoon within a swimming distance from one another, yet the first has extremely low real estate value compared to the rest. Like my beloved Prof. T.O Nubi would say, its the same water that passes through Makoko and Banana Island. Isale-Eko is no different.
What can be done to reach its potential?
There is a huge but silent demand of people ready to buy into this neighborhood ONLY if these are available: MODERN homes in a conducive, SECURE environment with modern amenities. Accessibility and superb road network are already Isale Eko's biggest market advantage. Due to the complex and crowded nature of Land ownership, i would suggest the concept of LAND POOLING- consolidating parcels of land (within whole streets) and develop into various units of Multiple dwelling apartment- Terrace(Townhouses) with penthouses or Maisonettes/ Flats are best suited because of high pressure on land. Families will hold proprietary land rights plus a unit or more within each building depending on land area and design. New home owners will own renewable leasehold titles. Development must be in unison to achieve optimum values and desired results
Another potential which shouldn't be overlooked is tourism. There are numerous sites scattered around this rich neighborhood which are of great historical significance. There has to be deliberate effort to save and preserve the few remaining Brazilian Styled Homes in Campos, Bamgbose, Kakawa areas before they all become extinct.
Government must also enforce a buffer between commercial and residential neighborhoods to protect the sanctity of neighborhoods and secure investment values.
Isale-Eko cannot keep wasting away. All in all, majority of the effort is in the hands of its natives (Landholding families) who must put sentiments aside and face reality if they truly want to salvage the fate of their dear ancestral home. Really, of what pride and benefit is it if you cannot even access your family home (Iga) or find the neighborhood extremely inhabitable. Otherwise, Government will one day be forced to embark on slum clearance.
Lets save Isale-Eko before it is too late.
LECTURER AND COURSE LEADER IN CIVIL ENGINEERING at College of North West London
2 年The above ideas are correct and timely. These need to be developed into plans and marketed to the Isale Eko land owners, who must buy into it. The LASG MUST BE INVOLVED TO ENSURE PROPER PLANNING THAT WOULD TRANSFORM ISALE EKO TO A TWENTY FIRST CENTURY CITY. THE MASTER PLAN AND VISION MUST BE DRIVEN BY EMINENT INTERNATIONAL CITY PLANNERS WHO HAVE SUCCESSFULLY COMPLETED SIMILAR PROJECTS ELSEWHERE.
CEO | Architect, Energy Manager, Facility Manager and Sustainability Expert | Empowering Organizations to Sustainably Manage Real Estate Building Assets and optimize Operational Costs | Value Creation
4 年Developing or revitalizing Lagos Island must be holistic, recognizing what needs to go and what aspects of its rich history and culture need to be kept. I hope redevelopment of the area will not inherently displace the majority of the current inhabitants, our upgrading of a place should also encourage and respect existing social structures. The truth is a lot of the first steps in this direction depends on the "landholding families" and their internal relationships. Nice read. ??
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4 年Great read, quite align with my sentiments and it seems all that may be required could be a first mover success that will cause a domino effect of mass selloff to actualise the long overdue transformation of that prime but wasting assets as the economic value of the buildings continue to slide even as the land retains its royalty