Guzape District, popularly referred to as Asokoro District Extension, is one of Abuja’s new brides in the property sector, witnessing an influx of all categories of property developers from across the country and beyond. Its location is characterised by a unique topography and hills, factors that contribute to the rush for property in the area.
Daily Trust learnt that many embassies which have plots in Guzape had either started developing them or were in the process to begin.
Guzape is bordered by Asokoro to the North, Apo District to the South, Gudu District to the West and Garki District to the North West. Access roads to the district include the Murtala Muhammed Expressway and Hassan Katsina Street, and it is about a 10-minute drive to the Abuja Central Business District.
Several factors have been identified as the reason for the high cost of property in choice areas like Guzape and Abuja as a whole. For instance, the demand for housing in the city often outstrips the supply, leading to higher prices.
- Insecurity: We’re focused on eliminating threats — COAS
- Yahaya named best-performing governor in healthcare delivery
Secondly, for the fact that Abuja is the Federal Capital Territory (FCT), the presence of embassies, international organisations and multinational corporations in the city contributes to the demand for housing.
Similarly, the cost of land in Abuja is relatively high, which translates to higher costs for developers. Acquiring land from the Federal Capital Development Authority (FCDA) is difficult when applying as a person, and as such many individuals are left with no option than to buy land from property developers; which is quite expensive.
Location for the rich
A visit to Guzape District by Daily Trust revealed that virtually all the big names in the property sector in Nigeria have one or two estates being developed in the area.
The location is characterised by smart houses and estates and heavily guarded by security operatives, signifying that the residents are the rich and mighty in the country.
A property agent, Ganiyu Muhammad, who spoke to Daily Trust, said most of the property developers in the region were into smart homes, adding that houses could cost up to and even beyond N1bn.
He said, “Before Guzape started developing, the hot cakes were the City Centre, with places like Garki, Maitama, Asokoro and Wuse, because these were the only areas with infrastructure. People wanted to be in the centre.
“However, the story is no longer the same as other areas are now developing, and Guzape is one of them, as a lot of people have begun to look outside the city centre and which has given room to properties in satellite areas to become expensive.
“Asokoro and Maitama have been categorised as having the most mega-priced houses, but not anymore. Here in Guzape a couple of houses cost between N1bn and N2bn each.”
A realtor, Paul Ani, said, “The hype for property in Guzape has made both land and houses become too expensive. Ordinarily, the properties shouldn’t cost up to N1bn each, but demand can hike price. This will continue to happen because everybody wants to stay in Guzape; which is described as the New London of Abuja.
“If you look around, from where we are now, almost all the big estate property developers are constructing smart houses here while others have landed assets: from Cosgrove to Bilaad to Urban Shelter to MSHEL Homes, among others. So, the competition is high and that is why the prices are also high.”
Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
