House joint venture
Proposed 19-Floor Residential Development House
LANDOWNER-Issued Development Offer (LIDO)* directly on bourdillon road, ikoyi, lagos. Proposed 19-Floor Residential Development Total Land Area: 2,281.291 sqm Land Title- Federal C of O 5% professional fees applies. Commercial terms Development Premium The Developer shall pay a non-refundable premium of ₦1,100,000,000 (One Billion, One Hundred Million Naira) immediately upon the execution of the Joint Venture Agreement. Unit Allocation Landowner Allocation --- 40% (14 Units) - 13 Units of 4 Bedroom Apartments - 1 Unit of 5 Bedroom Penthouses Developer Allocation --- 60% (20 Units) - 19 Units of 4 Bedroom Apartments - 1 Unit of 5 Bedroom Penthouses Developer Funding Obligations The Developer shall finance one hundred percent (100%) of: - Project construction costs - Statutory approvals and regulatory compliance - Lagos State regularisation fees - Infrastructure and utilities installation - All costs required for full project execution Landowner Contribution The Landowner shall provide: - The project land; and - Full statutory cooperation required for obtaining regulatory approvals Landowner Development Concept Within the above regulatory framework, the Landowner proposes a premium Grade-A luxury residential development configured as follows: Total Residential Units: 34 Units Composition: - 32 Units of Four (4) Bedroom Apartments - 2 Units of Five (5) Bedroom Penthouses Building Configuration The proposed development shall comprise approximately 19 floors, inclusive of: - Residential floors - Podium and parking levels if present in final designs - Amenity and service floors Parking Provision Minimum of 68 parking bays (two per residential unit), excluding additional parking for residence, visitors and service parking to be incorporated within basement and/or podium levels. Amenities Project amenities shall include, but not limited to: - Swimming pool - Padel courts - Gymnasium and wellness spa - Drivers' lounge - Reception and Residents' lounge - Supporting lifestyle facilities All amenities shall be reflected in final designs, architectural drawings, etc.