What we’ve been

reading in november 2024

Real estate is more than transactions
— it’s about shaping spaces where life happens. In each edition, we’ll break down the complexities of the industry through expert insights and fresh perspectives.

Real estate is more than transactions

— it’s about shaping spaces where life happens. In each edition, we’ll break down the complexities of the industry through expert insights and fresh perspectives.

We share updates from our latest developments, highlight trends shaping our urban future and feature interviews with industry leaders.

We discuss key topics, address important questions on trends and developments in the real estate industry!

Transit-Driven Development: The Lagos Rail Lines as a Catalyst for Urban Growth

The launch of Lagos’ Red Line rail system on October 15, 2023, marks a pivotal moment in the city’s urban development. This ambitious project, spanning 37 kilometers from Agbado to Marina, promises to revolutionize commuting for millions and reshape the economic landscape of Africa’s largest city.

 

The Red Line is a key piece in a much larger puzzle. The 600-mile stretch of coastal West Africa from Abidjan to Lagos is projected to become the world’s largest zone of continuous, dense habitation by 2100, potentially housing half a billion people [1]. In this context, Lagos’s rail project is not just about easing traffic—it’s about shaping the future of an emerging megalopolis.

The Lagos Rail Lines

The locations of Lagos’ Red Line rail stations highlight key transit and economic zones. Agbado and Iju, situated in Ifako-Ijaiye Local Government, lie on the border with Ogun State. Many stations, such as Oshodi, Oyingbo, Mushin, and Tejuosho, are near major markets, and others serve dense residential clusters like Yaba, Oshodi, and Mushin. The rail project also includes six overpasses at Oyingbo, Yaba, Ikeja, Agege, and Mushin, which help reduce vehicular interference and improve traffic flow across these areas.

 

While Lagos State’s Blue Line rail in its first phase has carried 1.6 million passengers since launching in September 2023—representing approximately 3% of its 150,000 daily target—the Red Line aims for an initial 750,000 daily passengers, potentially rising to over a million. This higher target reflects a larger number of Red Line stations and greater connectivity across Lagos. The slower rate of adoption of the blue line has been attributed to fare pricing, insufficient number of stations and a low number of connecting buses to the station from key residential clusters. Although we are still in the early stages for both the blue and red lines, adoption needs to be better for it to ease congestion and for Lagosians and the Lagos State Government to reap further benefits from the lines.

Ridership Per day of popular metro lines in Africa

Increased trips on the Blue Line, now at 72 daily (up from 54), have shortened travel times, with the Marina-Mile 2 journey reduced to 18 minutes. The second phase of the blue line, set to be delivered in 2027, is expected to extend the line to Okokomaiko, with plans to connect Ogun State through a station at Agbara. To further boost adoption, the Lagos government has introduced more bus links to rail stations and fare discounts, although pricing remains a challenge. The Red Line fare from Agbado to Oyingbo is ₦1,500, and routes like Agege-Oshodi reportedly cost twice as much as bus alternatives, raising concerns among commuters. Stay tuned to our blog and follow us on social media for more updates on UPDC Plc and other events.

Although short-term adoption may be modest, long-term prospects remain optimistic as the line extends and Lagos’ population grows. To maximize adoption, the Red Line needs to be accessible and appealing. Enhanced bus connections to stations, additional stops, fare discounts, and a campaign promoting rail’s benefits can help build a strong, loyal ridership across the city. For further reading visit our website here.

REFERENCES

1. French, H. W. (2022). “Megalopolis: how coastal West Africa will shape the coming Century”. The Guardian.

Seven US Transit Projects Real Estate Investors Need to Know

Megalopolis: how coastal west Africa will shape the coming century

sites Updates

Plots in our 5 hectare Hampshire site and service scheme on Monastery Road, Sangotedo were handed over to property owners however we still have some units for sale!

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