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10 Good Locations for Real Estate Investment in Rivers State

• Posted by Dorcas Tosin in Nigeria Property Market
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With the number of oil companies and oil wells in Rivers State, the state could simply be called the oil capital of Nigeria, no wonder it’s called the Treasure Base of the Nation.

Rivers State is the most populous among the Southern part of Nigeria and the seventh in Nigeria and the second largest economy with Gross State Product of $21.07 billion as of 2017.

The presence of oil exploration firms like Saipem Nigeria Limited, Nigeria Liquified Natural Gas Limited and other multi-nationals like Agip oil Company, Dawoo Nigeria Limited, makes the state a good place to consider for investment in property.

For real estate investors considering establishing a presence in Rivers State, one of Nigeria’s economic hubs, this article will analyze the most promising Real Estate investment locations in the state.

Is real estate investment good in Rivers States?

The real estate market in Rivers and the surrounding area is rapidly expanding, making it an attractive investment opportunity for real estate investors.

Real estate guru who are exploring the property potential of the oil-rich state of Rivers include Dr Augustine Onwumere, the founder of Property World Africa Network (PWAN) and Dr Stephen Akintayo, the founder of Gtext Global (Gtext homes).

If you are considering venturing in investing in property at locations with promising property appreciation in a short time in Rivers, below are some of the locations where real estate investment is worth it in Rivers

Ada-George/AGIP

The dualization of its main road resulted in the area’s rapid ascent to the status of one of the city’s most desirable areas to live in and has since then become a top hub for real estate developers.

Perfect for the average household because it’s neither too loud nor too quiet. Whether you’re looking for a vacation house, permanent residence, or retirement community, this is one of the top options in Port Harcourt, Rivers state capital.

Rumudomaya (Port Harcourt)

This is another ROI promising property location in the state capital where a plot of land cost between NGN20, 000,000 to NGN30,000,000. Of recent, we’ve seen GText Homes come up with smart estate called Sardius Estate.

Peter Odili Road

This neighborhood is rapidly becoming one of the most desirable places to live in all of Port Harcourt. It is located in the Trans-Amadi Industrial District, just outside of the main portion of town.

It’s pretty and tranquil, just the thing to create the warm and welcoming ambiance you seek. To fully appreciate its splendor, a visit at night is highly recommended.

The cost of land in Peter Odili road is between NGN7,000,000 to NGN10,000,000.

Igbo Etche

This location is between 5 mins to 8minutes drive from Eleme junction.

Rainbow Housing Estate

Top real estate experts who have studied the Port Harcourt real estate market predict that the Rainbow housing estate, which is next to the NLNG, will soon achieve the same status as the city’s G.R.As.

It’s the most promising property market in the Garden City.

Chokocho Town

Chokocho is a community in Etche Local Government Area of Rivers State. It is less than 40 minutes drive from the state capital. The cost of a plot of land in this area is between NGN2,000,000 to NGN4,000,000, depending on the location.

Eagle Island

Between the Diobu and Mgbuodohia/Agip rivers is where you’ll find this quaint little community. It’s peaceful and tranquil. It is home to the Nigerian Agip Oil Company and the town of Illaobuchi and boasts a plethora of gorgeous homes within walking distance of the water.

This is the best place to stay in P/Harcourt if you have an unhealthy obsession with islands and prefer to be removed from the hustle and bustle of the city.

New G.R.A

The residents in New G.R.A enjoy a high standard of living in a safe and peaceful environment, making this the best option for anyone looking for a suitable location to buy land in Port Harcourt, Rivers State.

There are also several high-end cinemas, such as the Genesis Deluxe, as well as a polo club, shopping malls, and restaurants. Real estate in this area is prohibitively pricey.

New G.R.A. is a popular spot for Port-nightlife, Harcourt’s and this is no exception. This is evidenced by the plethora of late-night establishments that have invaded the neighborhood.

Many tourists spend their evenings there, and high-end “street hustlers” are common late-night visitors. In fact, investing in short-let apartments in New G.R.A is highly profitable.

The cleanliness of the area and the inclusion of trees in each residential area make for an ideal setting in which to enjoy nature and unwind.

If you’re an investor expecting to make a killing in the real estate market, your money would be better served in the GRAs. With all else being equal, the returns are not only quick but also guaranteed.

Old G.R.A

If you’re looking for a prestigious place to live in P/Harcourt, the Old GRA is one of the first places you should look. During colonial times, it was known as the European quarters because of the preponderance of European settlers in the area.

Several state government offices, including the Rivers State Assembly, the People’s Democratic Party, and the NEPAD Rivers State Secretariat, are located in Old GRA.

Nigeria’s former first lady, Patience Jonathan, once resided in this fashionable section of Port Harcourt. Tourists can also visit the Isaac Boro Gardens, which were named after a famous Nigerian Nationalist and Civil War hero, Major Isaac Jasper Adaka Boro.

It’s attractive as well, with tree-lined streets and broad avenues. Although anyone with sufficient financial means can buy property here, this neighborhood is primarily targeted toward the wealthy and powerful, such as business magnates and government bureaucrats.

Omagwa

This location is surrounded by industries such as Omagwa Airport, Eleme Petrol chemical. It is a highly developing location, so an investment in some plots of land in this location is worth it.

A plot of land in Omagwa is between NGN2million to NGN3 million naira.

Conclusion

Port Harcourt is known as the Garden City, the Pearl of the Niger Delta, and the Unrestrained Seat of Black Gold.

In addition to being Nigeria’s oil capital and the country’s third-most-developed metropolis (after Lagos and Abuja), the city also has one of the country’s most developed property markets.

Most of the high-priced real estate in the city is occupied by expatriate workers, who have been drawn there by the presence of numerous multinational corporations.

So as real estate investors, the above-listed locations are some of the best real estate investment locations in Rivers in case you want to explore some of the investment opportunities in the Garden City and towns around the city.

Despite the hustle and bustle of oil and energy development, this thriving urban garden metropolis does have some locations where you can get away from it all.

Caution: As a normal, it is wise to make sure to investigate the property you plan to buy. Make sure that the property is not disputed.

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• TIG Magazine