Joint venture
high‑value joint venture opportunity ---
25 hectares opposite crown estate, sangotedo
government allocation & c of o land‑for‑development
executive summary
an exceptional jv opportunity for experienced residential developers: 25 hectares of prime sangotedo land (plots of 500 sqm), offered on a joint‑venture basis for low‑density housing (proposed 2 units per plot). the land is titled by government allocation and certificate of occupancy (c of o) --- clean, transferable and ready for swift mobilisation. owner seeks a capable developer partner to lead design, approvals, infrastructure and delivery. commercial sharing formula is to be discussed (tbd); facilitator fee set at 10% (negotiable).
opportunity at a glance
- location: opposite crown estate, sangotedo --- strong demand corridor with growing middle‑to‑upper market residential activity.
- land size: 25 hectares (250,000 sqm) --- subdivided into 500 sqm plots (approx. 500 plots).
- proposed density: 2 units per plot (spacious, low‑density development targeting mid‑high end market). alternative densities may be considered with reasonable justification.
- land valuation guidance: n55,000,000 per 500 sqm plot (regular zone pricing referenced).
- title: government allocation & certificate of occupancy (c of o) --- originals available for verification.
- facilitator fee: 10% (negotiable).
why this jv is attractive
- scale & location: 25 ha in sangotedo provides meaningful development scale to achieve economies, margin and marketing reach while remaining close to lagos demand centres.
- strong market: proximity to crown estate and established developments supports premium positioning for gated communities, serviced plots or bespoke detached housing.
- land title security: government allocation and c of o reduce land acquisition risk and speed up lender acceptance.
- flexible product mix: target market can be tailored (serviced plots, detached villas, duplexes or gated community) to maximise return and absorption.
- partnership efficiency: owner provides equity in land; developer brings financing, approvals, design and delivery expertise --- enabling rapid project rollout.
owner's brief & preferred development parameters
- product: low‑density residential development --- primary proposal is 2 units per 500 sqm plot (owner open to adjustments supported by robust market rationale).
- infrastructure: adequate internal roads, drainage, power distribution, water provision, estate security and landscaping to be provided by developer.
- quality: market‑appropriate finishes and estate amenities (estate gatehouse, perimeter security, recreational/green spaces) to be included.
- sales strategy: developer to lead sales, marketing and off‑plan management; allocation of completed units to owner per agreed equity/share structure.
developer responsibilities (typical)
- lead financing for pre‑development and construction phases (or secure finance).
- produce detailed masterplan, layout, tdp compliance and secure all statutory approvals.
- deliver internal infrastructure (roads, drainage, utilities) to agreed standards.
- implement sales, marketing and post‑sales management.
- manage handover of owner's share of units/plots per agreed mechanism.
owner responsibilities
- contribute land as equity (25 ha under current title).
- provide land documentation, survey and existing allocation/c of o for due diligence.
- cooperate on approvals where required and participate in heads of terms negotiations.
suggested commercial structures (examples)
1. land‑for‑equity (preferred)
- owner contributes land as 100% of land equity; developer funds construction and marketing.
- equity allocation (example starting point): developer x% : owner y% --- to be negotiated (owner proposes discussion).
- owner receives agreed percentage of completed units/plots or net proceeds after cost recovery.
2. profit‑share (post‑sale)
- developer sells units and recovers costs; net profit split per agreed ratio after audited cost recovery.
3. hybrid (mixed allocation)
- owner retains specific number/percentage of high‑value units; developer takes remaining stock or sales proceeds.
commercial points to determine in heads of terms
- exact equity split or profit‑share percentages.
- cost recovery waterfall (construction costs, finance costs, developer fee, marketing).
- off‑take / allocation mechanics for owner units (built units vs cash proceeds).
- development schedule, milestones and handover conditions.
- quality standards, defect liability and warranties.
- approvals responsibility, taxes and statutory charges allocation.
- dispute resolution and exit provisions.
- facilitator fee mechanics (10% negotiable).
pre‑qualification (developer requirements)
- company profile & registration (rc, tin).
- evidence of financial capacity (audited accounts, bank/financier references or proof of funds).
- track record: at least 2 comparable residential developments delivered (photos, addresses, references).
- delivery capability: in‑house or partner contractors, consultants and property‑management capability.
- commitment to a fast diligence and mobilisation timeline.
due diligence & documentation available
- land documents: government allocation, certificate of occupancy (c of o), deed/assignment documents (available for inspection).
- survey & tdp: existing survey and topographical plan available on request.
- owner can provide baseline site photos and high‑level title pack after nda.
- recommended buyer/partner diligence: land registry search, geotechnical & environmental screening, planning/zoning confirmation and infrastructure costing.
indicative timeline (subject to agreement)
- stage 1 (0--2 weeks): submit loi and pre‑qualification pack.
- stage 2 (1--3 weeks): nda, site inspection and document access.
- stage 3 (2--6 weeks): technical, legal and commercial due diligence.
- stage 4 (2--4 weeks): negotiate heads of terms / mou.
- stage 5 (mobilisation): secure approvals, finance and commence infrastructure / phase 1 construction based on agreed programme.
what to include in your loi
- company name, contact person and position.
- brief statement of interest and proposed jv approach (land‑for‑equity / profit share / hybrid).
- evidence of financial capability (bank reference or pof) and outline of proposed funding structure.
- brief portfolio of comparable projects and client references.
- proposed timeline for due diligence and meeting request.
next steps
1. submit loi and pre‑qualification documents.
2. sign nda to receive full title pack, survey and tdp.
3. shortlisted developers invited for site inspection and meeting to review concept and commercial terms.
4. agree heads of terms and proceed to definitive jv agreement and due diligence closure.
closing remark
this is a large, strategically located sangotedo parcel with clean title and an owner who is motivated to partner with an experienced developer. the proposed low‑density product and proximity to crown estate make this an attractive opportunity for premium residential development with healthy margins. facilitator fee of 10% is noted and negotiable as part of the commercial terms.
please submit your loi and pre‑qualification pack for immediate consideration.
contact: mr. kola adesina (edba)
all detailed documentation and commercial discussions will be provided on a confidential basis and subject to a signed nda.
serious proposals only.
*how we work*
tell us your needs (budget, location, size).
our team reviews your request and assigns a dedicated relationship manager.
we only source conflict-free land and properties with clear titles.
we conduct due diligence and arrange site visits.
viewings are by appointments only
finalize purchase, rental or lease with legal support.
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