Joint venture opportunity -- banana island, ikoyi, lagos
7,000 sqm waterfront land federal c of o ₦3.5 million per sqm
no premium high-rise development proposal also available for sale (2,000 sqm minimum)
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property overview
- location: banana island, ikoyi, lagos -- africa's most exclusive waterfront residential enclave, home to nigeria's elite and international dignitaries.
- land size: 7,000 sqm (waterfront).
- title: federal certificate of occupancy (c of o) -- the highest form of title security in nigeria.
- price: ₦3,500,000 per sqm.
- total land value: ₦24,500,000,000.
- premium: nil -- no upfront payment to landowner for jv.
- proposal: high-rise building -- capitalizing on waterfront views and banana island's prestige.
- facilitator's fee: 10% of total land value (₦2.45 billion) -- net.
- jv sharing ratio: to be negotiated (typically 50/50 or as agreed).
- sale option: also available for outright purchase -- minimum 2,000 sqm.
- status: prime waterfront land, verified and ready for serious engagement.
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key highlights
- ultimate banana island waterfront: 7,000 sqm of prime waterfront land -- a once-in-a-generation offering in lagos's most prestigious address.
- superior title security: federal c of o provides absolute ownership certainty -- bankable, transferable, and ready for jv financing.
- massive scale: at 7,000 sqm, this is one of the largest available waterfront parcels on banana island -- suitable for a landmark high-rise development.
- no premium entry: zero upfront payment to landowner significantly lowers the developer's initial capital requirement -- a highly attractive jv term.
- high-rise potential: waterfront location demands a iconic high-rise design -- maximizing views, density, and returns.
- dual option: jv partnership or outright purchase (minimum 2,000 sqm) -- flexibility for different investor profiles.
- rare offering: waterfront land of this size with federal c of o is virtually extinct on banana island.
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️ development potential -- high-rise waterfront
7,000 sqm waterfront land is ideal for:
- luxury high-rise residential tower: 20--25 floors of premium apartments, penthouses, and amenities.
- mixed-use iconic tower: residential + boutique hotel + retail/restaurant with panoramic water views.
- ultra-luxury condominiums: 40--60 units targeting ultra-high-net-worth buyers.
- amenities: swimming pool, gym, spa, concierge, secure parking, waterfront promenade.
estimated built-up area: approx. 35,000--45,000 sqm (depending on design and floor plates).
target market: ultra-high-net-worth nigerians, diaspora buyers, international investors, diplomatic corps.
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market context
metric value
land size 7,000 sqm
per sqm price ₦3,500,000
total land value ₦24,500,000,000
market range (banana island) ₦3.5m--₦6m/sqm
waterfront premium +30--50% over inland plots
federal c of o highest title security
- per sqm benchmark: at ₦3.5m/sqm, this waterfront land is competitively positioned within banana island's current market range (₦3.5m--₦6m/sqm depending on waterfront access and exact location).
- waterfront scarcity: true waterfront plots on banana island are exceptionally rare and command significant premiums.
- federal c of o advantage: federal title provides the highest level of security -- a key differentiator for institutional investors and international buyers.
- development upside: a well-executed high-rise waterfront development could achieve gross development value (gdv) of ₦50b--₦80b+, depending on unit mix and market conditions at completion.
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️ jv structure (typical)
party contribution sharing (negotiable)
landowner land (federal c of o, valued at ₦24.5b) 40--50% of completed units/sales
developer 100% construction funding 50--60% of completed units/sales
- facilitator's fee: 10% of total land value (₦2.45b) -- net, payable upon successful transaction closure.
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procedure for interested developers
submit the following documents:
1. letter of intent (loi) -- formal expression of interest and capacity.
2. company profile -- track record in luxury high-rise developments.
3. detailed project proposal -- architectural vision, unit mix, floor plans, financial projections, timeline.
4. proof of funds -- evidence of construction financing capability (minimum ₦20b--₦30b project cost).
5. facilitator's fee letter -- acknowledgment and agreement of facilitator fee terms.
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sale option:
the land is also available for outright purchase -- minimum 2,000 sqm. serious buyers can acquire a portion of this prime waterfront asset.
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ideal for: top-tier developers with proven experience in luxury high-rise, waterfront projects; institutional investors seeking a flagship banana island development; ultra-high-net-worth individuals wanting to acquire a piece of banana island's most exclusive waterfront.
a landmark 7,000 sqm waterfront opportunity on banana island with federal c of o -- available for jv or sale. this is the pinnacle of nigerian real esta...
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