What is known as the Redemption City today was opened in 1983 with four and half acres and has since expanded to over 2,500 hectares of land that stretches from Mowe in Obafemi Owode Local Government tó Simawa in Sagamu Local Government.
For better perspective, 2,500 hectares is 6,250 acres or 37,500 plots of land.
Redemption Camp currently has about 6,000 houses, police station, hospitals, supermarkets, banks, recreational centers, a post office, schools (many primary schools, secondary schools, a college of education and a university), bible college, TV and radio station, printing presses, waste collection and processing factory, a power plant and hundreds of business centres.
As at 2021, there were estimated 15,000 people living in 17 residential estates within the Camp. As at 2024, the residential estates has increased to over 20. The city has a potential to house a million people.
Pastor Adeboye mentioned he bought the first land at the camp, a four and half acres of land for 6,000 Naira. The first offer he got was 3 acres in Iju close to Lagos for 54,000 Naira which he turned down because the church didn’t have that kind of money as at then.
Let’s do a small maths:
N6,000 ÷ 4.5 acres = N1,334 per acre
There are 6 plots per acre, therefore
N1,334 ÷ 6 = N222
It therefore means Pastor Adeboye bought a plot of land at the rate of N222 each in 1983. Today, land around the Redemption City is golden because of the activities and infrastructure put up by the church.
Sometimes I ask myself, “when pastor Adeboye was investing massively in real estate in 1983, what was my dad doing?” but do you know how I answered that? By asking myself what is it I’m also doing now that I haven’t acquired 1000 acres, hmm.
Is there anyone who doesn’t need to invest in real estate? If you’re a futurist, you’ll know the importance of investing in real estate TODAY not tomorrow.
Today, a plot of land with CofO is selling for an average of N10million more or less around the Redemption City. Remember Pst. Adeboye and ofcourse many others bought it at the rate of 222 Naira in 1983. Wow
Now let’s look at one of the advantages of owning real estate…
If today RCCG or Redeem as many call it needs money for a project, they can choose to carve out 1000 plots from their 37,500 plots and sell at the rate of N10million each, easily they would raise N10billion. Remember they bought at N222 per plot. Whichever way one look at it, it was a wise decision Pastor Adeboye took buying the land as at then.
Do not think it took 40 years to achieve such huge appreciation, land around the Redemption City has been highly sought after for many years now and it keeps appreciating.
Today’s real estate potentials is driven by people. All you need to do it to be able to project where people are going or likely would go, get their before them, buy the land and wait for them to come. When they arrive, resell to them at your own price.
I know some places close to Lagos where a plot of land sells for less than N750,000 currently but in less than 10 years it’ll be worth more than N25million. The secret is FORESIGHT.
It is most unlikely that Pastor Adeboye would have attracted all the high networth individuals in the ministry today if he hadn’t invested hugely in real estate, as the likes of Prof. Yemi Osinbajo, Senator Oluremi Tinubu, Governor Ambode and other very important people in the ministry all joined after the great expansion of 1983.
When you buy real estate, you create an opportunity for prosperity for yourself and the generation after you.
In closing, real estate is God’s natural blessing to man. You don’t even need to pray for it. It’s there, get it now.
If you read this and still will not prioritize real estate investing and land banking then you’re your own enemy.
Rotarian Victor Oyefeso and his company Villamond Investment Limited is currently on a mission to help 1000 Nigerians acquire affordable and genuine landed properties in Lagos and Ogun state and if this interest you, reach them via their social media platform or simply visit their website at www.villamondinvestment.com
You can order a copy of his book ‘EVERY LAND HAS GOLD’ which reveals real estate well kept secrets that has earned multi millions of Naira and dollars to many. The book also reveals why and where to start from, order at https://selar.co/19v005 or DM wa.me/2347082155606