Enugu, Nigeria, located at 6.4402 [latitude] and 7.4943 [longitude] has a population of about 6 million people, and the mainland area of 12,727 square. km, which served as the capital of the former Eastern region, and the state of Old Anambra currently has a total of 17 local government regions. Ethnically and linguistically, the state of Enugu is lgbo. English is also widely known as a second language. The state naturally divides into two cultural zones based on local dialectic and choreographic models. These are the Enugu and Nsukka zones. The state has three important urban centers: Enugu, Nsukka and Ogiver. Enugu is a modern city that covers an area of 85 sq. M. Km with a population of about 750,000 people.
Enugu is known to develop a coal-mining, commercial, financial and industrial center with a booming economy and huge investment opportunities. The Central Bank of Nigeria has a branch in the city. It also has an airport and good means of communication with the modem by telephone, telegraph, fax and postal services. The urban road network is properly distributed, and there are many highways and railways leading to other states. As a city, Enugu had a political history. Since 1917, when it was officially declared a second-class village; its political depths are very fast and vast.
In terms of investment opportunities, Enugu is known for its industrial and commercial development. It has a fully developed industrial infrastructure. Industrial real estate Emene remains the main industrial object, and attempts are being made to create industrial real estate in all areas of the state government. Enugu also has a good airport in the Emen industrial zone. There is an adequate satellite connection and an excellent network of federal and state highways. At present, there are 52 branches in the state, three of which are large-scale, and the rest belong to the category of small and medium. ANAMMCO, manufacturers of approved and quality automotive products, is one of three major industries in Enugu State. There is also the Project Development Agency (PRADA), which manufactures and manufactures a wide range of components and industrial products.
With the growth of infrastructure and the harmonization of government policies, investors were able to invest in opportunities for which local raw materials are available. These include the production of batteries, pharmaceuticals, industrial starch and glue, ceramics and ceramics. Others include the coal industry, the commercialization of research results and the manufacture of automotive parts for the automotive industry, food processing and fruit juice processing.
All this marked a new era of rapid development of real estate in the state. In 2011, the land and real estate market of the city took off with the introduction of the state budget in the amount of N66.4 billion. and tripled the property market in less than three years. In a review of the impact of this, it is noted that rental rates at Enugu more than doubled, and in some cases the value of land has tripled.
According to studies, local real estate agents confirm that the annual rent for a standard three-room apartment in the New Haven enclave - of medium and high density, which appeared in the 1960s - is about 500,000 Naira up to 150 percent since 2011.
What makes Enugu a boundary for real estate development? Moreover, why should we look at this second city of betting? The answer is relative. After advertising the metropolis in the coming decades, the vast majority of urban Africans will not live in sprawling urban centers such as Lagos, but in small and medium-sized cities such as Enugu. According to UN projects, by 2050, seven out of 10 people will live in urban environments and that approximately two-thirds of this global urban growth will occur in Africa.
Factors that have and will influence the real estate market positively include improved agricultural practices that make the land more accessible for development, and also provide the means to generate income.
Safety improvement; According to Knowmag.org, Enugu was declared the safest place in Nigeria. With the introduction of high-level vehicles to the State Police, equipped with high-quality communication devices, the Nigerian police in Enugu does a remarkable job of ensuring a minimum crime rate. In the long run, this guarantees the safety of life and properties.
Infrastructure improvements; The roads within Enugu and the highways that surround it are in extremely good condition. The current road maintenance program implemented by the government ensures that not only new roads will be built, but also existing ones that are regularly being rehabilitated. For example, the new Enugu-Nsukka expressway along the road Nick makes the trip to Nsukka shorter. This development will help improve business for investors.
Government policy. Thanks to a flexible state policy, the government of Enugu State has made it easier to satisfy investors. These include everything from tax rates to the acquisition of land, which further opens up the real estate market.
Finally, there is accessibility: one thing that attracts potential real estate investors to a particular geographic location is access to other areas of business - whether they are sources of raw materials, distribution points or other partner institutions and easy access to major cities like Lagos, Abuja, Port Harcourt, Abakaliki, Aqua, Onitsha, Umuahia, to name a few. In addition, with the recent commissioning of Akana Ibiam International Airport, access to major international cities is just a ticket. With continued improvement, we can still find ourselves in Enugu for investment and development.
Read more about http://www.lamudi.com.ng/journal
