Exclusive joint venture opportunity -- prime land on banana island, ikoyi, lagos
1,500.23 sqm land value: ₦5m per sqm proposed: luxury high-rise development 50:50 sharing facilitator's fee: 10%
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property & jv overview
- location: banana island estate, ikoyi, lagos -- africa's most exclusive residential enclave.
- land size: 1,500.23 sqm.
- title: to be verified (c of o / governor's consent expected for banana island).
- land value: ₦5,000,000 per sqm.
- total land value: banana island estate, ikoyi, lagos (≈ ₦7.5 billion).
- premium: to be discussed (payable upon jv contract signing).
- proposed development: luxury high-rise with the following configuration:
- 1st & 2nd floors: car park.
- 3rd, 4th & 5th floors: block of luxury apartments.
- 6th & 7th floors: 4 units of 4‑bedroom maisonettes.
- 8th floor: 2 units of penthouse.
- jv sharing formula: 50:50 (landowner : developer).
- facilitator's fee: 10% of land value (≈ ₦750 million), payable upon jv agreement.
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key highlights
- banana island address -- ultimate prestige: the most sought‑after residential address in nigeria -- home to billionaires, diplomats, and top executives. unparalleled security, underground utilities, and waterfront living.
- prime land value: at ₦5m per sqm, this reflects the scarcity and premium of titled land on banana island -- a sound investment with strong appreciation potential.
- clear development proposal: a defined 8‑floor luxury scheme with parking, apartments, maisonettes, and penthouses -- providing a ready‑made vision for developers.
- 50:50 equal partnership: transparent and balanced sharing structure aligns the interests of landowner and developer.
- global market appeal: properties on banana island attract international buyers and investors -- ensuring strong sales and rental demand.
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️ proposed development -- 8 floors of luxury living
floor(s) use details
1st & 2nd car park multi‑level parking for residents and guests.
3rd, 4th & 5th luxury apartments block of high‑spec flats (unit mix to be finalised).
6th & 7th maisonettes 4 units of 4‑bedroom duplex apartments.
8th penthouses 2 units of ultra‑luxury penthouses with private terraces.
additional options: the developer may propose alternative configurations (e.g., more floors, mixed‑use, branded residences) -- subject to landowner approval and planning consent.
target market: ultra‑high‑net‑worth individuals, corporate executives, expatriates, and luxury investors.
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location benefits -- banana island, ikoyi
- unmatched prestige & security: 24/7 estate security, underground utilities, paved roads, and waterfront views.
- proximity to business hubs: minutes from ikoyi, victoria island, and eko atlantic.
- high demand, low supply: new developments on banana island are exceptionally rare -- ensuring strong pre‑sales and rental interest.
- world‑class infrastructure: reliable power, water, drainage, and estate management.
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financial structure
- land contribution value: ₦7.5 billion.
- premium: to be discussed (payable upon jv contract signing).
- developer's role: provide 100% of construction financing, bank guarantee, project management, and sales/letting.
- profit sharing: 50% landowner / 50% developer -- after recovery of agreed development costs.
- facilitator's fee: 10% of land value (≈ ₦750 million), typically paid from the landowner's share upon jv execution.
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transaction requirements for interested developers
this opportunity is strictly for capable, credible, and competent developers. proof of capacity is required.
interested developers must submit:
1. letter of intent (loi) -- confirming interest and acceptance of the 50:50 sharing structure.
2. company profile -- with verifiable evidence of luxury high‑rise projects (8+ floors) completed on banana island, ikoyi, or victoria island.
3. proof of funds -- bank statements or financing letters showing capacity for a project of this scale (estimated construction cost ₦10b--₦20b+).
4. bank guarantee -- ability to provide a performance guarantee as required.
5. preliminary concept note -- initial design and timeline aligned with the proposed 8‑floor development or alternative vision.
due diligence:
- upon signing an nda and facilitator fee agreement, the facilitator will provide title documents, survey, and arrange a site inspection.
ideal partner profile:
- a top‑tier real estate development firm with a proven track record in ultra‑luxury high‑rises on banana island or ikoyi.
- strong financial capacity and access to construction finance.
- experience with high‑end residential developments targeting the global luxury market.
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banana island jv -- 50:50, 1,500 sqm, ₦5m/sqm, luxury high‑rise. a landmark opportunity for developers with proven capacity and vision.
strictly for serious, qualified developers -- direct engagement on...
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