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Joint Venture Land in Ikoyi, Lagos

There are 164 land joint venture in Ikoyi as of 5 Sep 2026. Every listing is posted by an estate agent or developer you can contact directly — filter by price, type, furnishing and recency to find the right home.

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1–20 of 164 properties joint venture

Bare Land Ideal for High Rise Apartments — Bourdillion Road, Ikoyi, Lagos
Premium
1
₦11,406,455,000

Mixed-use land joint venture

Bare Land Ideal for High Rise Apartments

Bourdillon Road, Ikoyi. Joint Venture. 2,281.291 SQM. Federal C of O. Survey Available. 20-Floor Luxury Residential Development. 34 Units. Premium ₦1.4B. Same Road, Same Pattern as Its Sibling Listing: Priced Above Every Comparable Found for This Exact Size. The problem There's a category of Bourdillon Road JV land where 2,281sqm parcels --- a specific, common size on this exact road --- get quoted at meaningfully different land values and premiums depending on which facilitator is representing the deal, even when the title, location, and general terms are functionally identical. This is precisely that pattern. Multiple independently listed 2,281sqm parcels on Bourdillon Road, all Federal C of O, show land values clustering at ₦4.5 million per sqm with premiums between ₦1.1 billion and ₦1.3 billion. This listing states ₦11,406,455,000 total, which works out to exactly ₦5,000,000 per sqm, plus a ₦1.4 billion premium on top --- above every comparable found at this exact size and address. The agitation Here's the direct comparison, and it echoes almost precisely what shows up on the larger 4,417sqm parcel on this same road. A 2,281sqm Bourdillon Road parcel, Federal C of O, is listed at ₦4.5 million per sqm with a ₦1.1 billion premium and a 60/40 developer-favored sharing split. A separate 2,281sqm Bourdillon Road parcel, same title, is listed at ₦4.5 million per sqm with a ₦1.3 billion premium instead. A distress-sale 2,281sqm Bourdillon parcel, also Federal C of O, is priced at ₦5,000,000 per sqm net --- but is explicitly marked as a motivated below-market sale, not a standard asking rate. A separately described "Elim/Alfred" JV parcel matching this exact size (2,281m²) and title also confirms a ₦4.5 million per sqm land value as the standard rate quoted for this specific parcel elsewhere. This listing's implied ₦5,000,000/sqm matches only the distress-sale outlier --- a price point that exists specifically because that seller needed to move fast, not because it reflects the going rate for a standard, non-distressed Bourdillon Road JV. Layer on the ₦1.4 billion premium, which is the highest premium figure found among the standard (non-distress) comparables at this exact size, and the total cost basis here sits meaningfully above what a developer would pay by anchoring to the ₦4.5M/sqm plus ₦1.1B--₦1.3B premium cluster that multiple other facilitators are quoting for what appears to be the same or a functionally identical parcel. This matters directly to the equity split. The stated sharing here is landowner 38% (13 units) to developer 62% (21 units) --- already a slightly less developer-favorable split than the 60/40 comparable found elsewhere on the same road. Combined with the elevated land value and premium, a developer proposing terms here without first anchoring to the documented ₦4.5M/sqm rate risks giving away meaningfully more equity value than the land itself justifies. The solution 2,281.291 square metres, Bourdillon Road, Ikoyi. Federal Certificate of Occupancy. Survey available. Stated land value implying ₦5,000,000/sqm. Premium: ₦1.4 billion. Development: 20-floor luxury residential development, 34 units. Sharing: Landowner 38% (13 units), Developer 62% (21 units). Developer funds 100% of construction and execution costs. Amenities: swimming pool, gym, padel courts, residents' lounge, kids' playground. Preferred contractors: El-Alan or Cappa & D'Alberto. Timeline: 36 months. Proof of funds required. Here is what's genuinely verified and what a developer should negotiate before signing anything: Verified: Federal Certificate of Occupancy. The strongest individual title instrument available under Nigerian land law, consistent across every comparable Bourdillon parcel found. Verified: address and amenity package. Bourdillon Road remains one of Ikoyi's most established addresses, and the stated amenity list --- pool, gym, padel courts, residents' lounge, kids' playground --- is a genuinely complete package for a 34-unit residential tower. Needs negotiation: land value. Multiple comparable 2,281sqm Bourdillon Road parcels, same title, are quoted at ₦4.5 million per sqm --- a developer has clear, documented grounds to negotiate this parcel's implied ₦5,000,000/sqm down toward that established rate. Needs negotiation: the ₦1.4B premium. This exceeds the ₦1.1B--₦1.3B premium range found on directly comparable 2,281sqm Bourdillon parcels --- treat it as a starting position, not a fixed figure. Needs negotiation: the 38/62 sharing split. A comparable 2,281sqm Bourdillon parcel offers a 40/60 split in the developer's favor --- two percentage points better than what's proposed here, which compounds with the elevated land value and premium to meaningfully affect total project economics. Why this beats going in without asking. A developer who raises the documented ₦4.5M/sqm rate, the ₦1.1B--₦1.3B premium range, and the 60/40 split precedent found on comparable Bourdillon Road parcels is negotiating from genuine market evidence, not guesswork --- and stands to materially improve the deal's economics before committing proof of funds. The call to action 2,281.291sqm. Bourdillon Road, Ikoyi. Federal C of O. Implied ₦5,000,000/sqm plus ₦1.4B premium --- both above the documented range for comparable 2,281sqm parcels on the same road. Call or WhatsApp Smilebay Realties: +234 901 517 4801 and ask directly: can the land value and premium be negotiated toward the ₦4.5 million per sqm and ₦1.1B--₦1.3B premium range documented on comparable Bourdillon Road parcels of this same size? Serious developers only. Proof of funds required. Independent verification of land value and sharing terms strongly recommended before proposal. The address is already Bourdillon Road --- that part isn't in question. The title is already Federal C of O --- that part checks out. The number and the split are both above what's documented elsewhere on the same road, and both are worth negotiating before anything else. Land Type: Mixed-use Land --- Joint Venture Size: 2,281.291 sqm Stated Total Price: ₦11,406,455,000 (implies ₦5,000,000/sqm --- flagged as above comparable range) Premium: ₦1,400,000,000 (flagged as above comparable range) Title: Federal Certificate of Occupancy Survey: Available Development: 20-floor luxury residential development, 34 units Sharing: Landowner 38% (13 units) / Developer 62% (21 units) Developer Funding: 100% of construction and execution costs Amenities: Swimming pool, gym, padel courts, residents' lounge, kids' playground Preferred Contractors: El-Alan / Cappa & D'Alberto Timeline: 36 months Requirement: Proof of funds required Location: Bourdillon Road, Ikoyi, Lagos Market Comparable Context (Bourdillon Road, 2,281sqm-tier JV land): 2,281sqm, Bourdillon Road, Fed C of O --- ₦4,500,000/sqm + ₦1.1B premium, 60/40 split 2,281sqm, Bourdillon Road, Fed C of O --- ₦4,500,000/sqm + ₦1.3B premium 2,281m², Bourdillon Road, Fed C of O ("Elim/Alfred" listing) --- ₦4,500,000/sqm 2,281sqm, Bourdillon Road, Fed C of O, distress sale --- ₦5,000,000/sqm net (below-market motivated sale) This listing: 2,281.291sqm, Bourdillon Road --- implied ₦5,000,000/sqm + ₦1.4B premium, 38/62 split Posted: 5 September 2026 Listed by: Smilebay Realties Limited --- Ref: #365-859-6

Bourdillion Road, Ikoyi, Lagos Added today
Smilebay Realties Limited
Premium
₦4,500,000,000

Residential land joint venture

4000SQM Residential Land

JV opportunity Location: Banana Island Road - Ikoyi Lagos Key Details: - Land size: 4,000 SQM - Land Value: ₦4.5m Per SQM - Proposal: Maisonette & apartments and a house - Facilitators' Fees: 10% - Sharing Ratio: TBD Note: Owner wants a building on the 1,000 SQM for himself and 3,000 SQM with block of flats/maisonette High-rise. Experience developer is a must with proof of funds

Banana Island Road, Ikoyi, Lagos Added today
4000 sqm
M.B.B Property & Legal Services
Bare Land Ideal for High Rise Apartments — Bourdillion Road, Ikoyi, Lagos
Premium
1
₦22,087,990,000

Mixed-use land joint venture

Bare Land Ideal for High Rise Apartments

Bourdillon Road, Ikoyi. Joint Venture. 4,417.598 SQM. Federal C of O. Survey Available. 27-Floor Luxury Residential Tower. 50 Units. Premium ₦1.5B. This Exact Parcel Is Being Quoted at More Than One Price Right Now --- Here's the Range a Developer Should Actually Negotiate Within. The problem There's a category of Bourdillon Road JV land where the address is genuinely elite --- but the same physical parcel gets marketed through multiple facilitators simultaneously, each quoting a slightly different land value, premium, and sharing split for what is, size for size, the identical plot. That's precisely the situation with 4,417.598sqm on Bourdillon Road. Multiple independently listed JV opportunities on this exact same road, at this exact same size, show land values ranging from ₦3.8 million to ₦4.5 million per sqm, with premiums ranging from nil to ₦1.3 billion, and sharing splits ranging from 60/40 to 64/36 in the developer's favor. A near-identical 4,417m² Bourdillon parcel described elsewhere carries the same 50-unit mix --- 30 four-bedroom apartments, 16 five-bedroom apartments, and 4 five-bedroom penthouses across 28 floors --- strongly suggesting this is the same underlying land being represented through more than one channel. This listing states a headline price of ₦22,087,990,000, which works out to exactly ₦5,000,000/sqm, plus a stated ₦1.5B premium on top. Before responding to any of the other terms, a serious developer needs to know: this is priced above every other independently found comparable for this exact size and road. The agitation Here's the actual spread of what's being quoted for Bourdillon Road land at or near this exact size, and why it matters enormously to your equity outcome. A 4,417.598sqm parcel on Bourdillon Road is separately listed at ₦3.8 million per sqm --- approximately ₦16,786,872,400 total --- with a Federal C of O and no premium stated for now. A 2,281sqm Bourdillon parcel, also Federal C of O, is listed at ₦4.5 million per sqm with a ₦1.1 billion premium and a 60/40 developer-favored split. Another 2,281sqm Bourdillon parcel with the identical title and rate structure carries a ₦1.3 billion premium instead. A 2,340sqm parcel on the adjacent Milverton Road, Lagos State C of O, is listed at ₦4.5 million per sqm with no premium. And a distress-sale 2,281sqm Bourdillon parcel --- genuinely comparable in title and location --- is priced at ₦5,000,000/sqm net, but explicitly marked as a motivated, below-market distress sale rather than a standard asking rate. This listing --- ₦5,000,000/sqm implied, plus a separate ₦1.5 billion premium --- sits at or above every one of those comparables, including the distress-sale outlier. Against the ₦3.8M--₦4.5M/sqm cluster that most standard (non-distress) Bourdillon and Milverton JV land is actually asking, this listing's implied rate is meaningfully elevated, and the ₦1.5B premium on top of it is the highest premium figure found across the comparable set. For an equity JV specifically, this isn't a minor detail. The land value and premium together set the baseline the landowner's equity share is calculated against --- in this case, a stated 36% to the landowner (18 of 50 units) versus 64% to the developer (32 units). If the underlying land value is inflated relative to genuinely comparable Bourdillon parcels, the landowner's 36% share is effectively worth more than the land justifies, and the developer's 64% share carries a correspondingly worse return before a single unit is sold. The solution 4,417.598 square metres, Bourdillon Road, Ikoyi. Federal Certificate of Occupancy. Survey available. Stated land value implying ₦5,000,000/sqm. Premium: ₦1.5 billion. Development: 27-floor luxury residential project, 50 luxury apartments. Sharing: Landowner 36% (18 units), Developer 64% (32 units). Developer funds 100% of construction costs. Preferred contractors: El-Alan or Cappa & D'Alberto. Timeline: 36 months. Proof of funds required. Here is what's genuinely verified and what a developer should negotiate before signing anything: Verified: Federal Certificate of Occupancy. The strongest individual title instrument available under Nigerian land law --- a real, meaningful advantage, and consistent across most of the comparable Bourdillon parcels found. Verified: address and scale. Bourdillon Road is one of Ikoyi's most recognized addresses, and 4,417.598sqm is large enough to support the stated 27-floor, 50-unit development without footprint constraints. Needs negotiation: land value. Given that comparable Bourdillon and adjacent Milverton parcels are asking ₦3.8M--₦4.5M/sqm without a distress-sale discount, a developer has a strong, evidence-based case to negotiate this parcel's value down from its implied ₦5,000,000/sqm toward that established range before agreeing to any sharing formula. Needs negotiation: the ₦1.5B premium. This is the highest premium figure found across every comparable Bourdillon and Milverton listing reviewed --- several comparable parcels state nil premium, and the next-highest found was ₦1.3B. This figure should be treated as a starting position, not a fixed cost. Needs verification: whether this is the same parcel marketed elsewhere. Given the identical size (4,417.598sqm / 4417m²) and closely matching unit mix found in a separately listed Bourdillon parcel, a developer should ask directly whether this is the same underlying land being represented by a different facilitator --- and if so, treat every version's terms as points of negotiation against each other. Why this beats going in without asking. A developer who anchors negotiation to the ₦3.8M--₦4.5M/sqm range already documented on this exact road, and who explicitly raises the premium disparity, is in a materially stronger position than one who accepts this listing's implied rate and premium at face value. The call to action 4,417.598sqm. Bourdillon Road, Ikoyi. Federal C of O. Implied ₦5,000,000/sqm plus ₦1.5B premium --- both above the documented range for comparable parcels on the same road. Call or WhatsApp Smilebay Realties: +234 901 517 4801 and ask directly: is this the same parcel being marketed elsewhere at ₦3.8M--₦4.5M/sqm, and is the land value and premium negotiable toward that documented range? Serious developers only. Proof of funds required. Independent verification of land value against comparable Bourdillon Road listings strongly recommended before proposal. The address is already Bourdillon Road --- that part isn't in question. The title is already Federal C of O --- that part checks out. The number that actually needs negotiating is the one this listing quotes above everything else trading on the same road. Land Type: Mixed-use Land --- Joint Venture Size: 4,417.598 sqm Stated Total Price: ₦22,087,990,000 (implies ₦5,000,000/sqm --- flagged as above comparable range) Premium: ₦1,500,000,000 (flagged as highest among comparables found) Title: Federal Certificate of Occupancy Survey: Available Development: 27-floor luxury residential project, 50 luxury apartments Sharing: Landowner 36% (18 units) / Developer 64% (32 units) Developer Funding: 100% of construction costs Preferred Contractors: El-Alan / Cappa & D'Alberto Timeline: 36 months Requirement: Proof of funds required Location: Bourdillon Road, Ikoyi, Lagos Market Comparable Context (Bourdillon Road / adjacent Ikoyi JV land): 4,417.598sqm, Bourdillon Road, Fed C of O --- ₦3,800,000/sqm, nil premium (≈₦16,786,872,400) 2,281sqm, Bourdillon Road, Fed C of O --- ₦4,500,000/sqm + ₦1.1B premium, 60/40 split 2,281sqm, Bourdillon Road, Fed C of O --- ₦4,500,000/sqm + ₦1.3B premium 2,340sqm, Milverton Road (adjacent), Lagos State C of O --- ₦4,500,000/sqm, nil premium 2,281sqm, Bourdillon Road, Fed C of O, distress sale --- ₦5,000,000/sqm net (below-market motivated sale) This listing: 4,417.598sqm, Bourdillon Road --- implied ₦5,000,000/sqm + ₦1.5B premium Posted: 5 September 2026 Listed by: Smilebay Realties Limited --- Ref: #365-857-7

Bourdillion Road, Ikoyi, Lagos Added today
4417 sqm
Smilebay Realties Limited
Premium
₦18,000,000

Residential land joint venture

4,000 SQM Residential Land

JV opportunity Location: Banana Island Road - Ikoyi Lagos Key Details: - Land size: 4,000 SQM - Land Value: ₦4.5m Per SQM - Proposal: Maisonette & apartments - Facilitators' Fees: 10% - Sharing Ratio: TBD Note: Owner wants a building on the 1,000 SQM for himself and 3,000 SQM with block of flats/maisonette High-rise. Experience developer is a must with proof of funds Finpro2020WR

Banana Island Road, Ikoyi, Lagos Added today
4000 sqm
Finepro Properties
Premium
₦18,000,000,000

Mixed-use land joint venture

4000SQM Mixed-Use Land with Structure

Joint venture in Ikoyi, Lagos. Open proposal Location: Cameron/Kingsway Road Ikoyi Land size: 4000sqms with structure. Land value: ₦4.5million/sqm Proposal: Open Title: C of O Sharing ratio: 50/50. Facilitators fees 10% Mixed developments. The road is zoned for a minimum amount of floors PS The survey will be made available upon request

Cameron/Kingsway Road, Ikoyi, Lagos Added today
4000 sqm
Business Accords
5, 000 SQM Residential Land — Banana Island, Ikoyi, Lagos
Premium
1
₦20,000,000,000

Residential land joint venture

5, 000 SQM Residential Land

Joint Ventures N20billion banana island land joint venture n2billion facilitator's fee 5,000 SQM C of O ikoyi, lagos developer-only mandate design ready immediate closure Property Highlights: Location: Banana Island, Ikoyi, Lagos Size: 5,000 sqm Title: Lagos State Certificate of Occupancy -- C of O Land Value: ₦20,000,000,000 Premium: Nil Facilitator's Fee: ₦2,000,000,000 [10% Net] Status: Design Available Owner Ready for Immediate Closure Proposed Development: 21 Units total - 3 Detached Houses - 1st -- 4th Floor: 4 x 4 Bedroom + 1 x 5 Bedroom = 16 Units - Penthouse Level: 2 x 5 Bedroom Penthouses Sharing Ratio: TBD Developer requirements: Company Profile + Detailed Proposal + pof + Performance Record + Facilitator's Fee Letter + loi Special note: Owner preference: Developer with existing or ongoing Banana Island project for verification.

Banana Island, Ikoyi, Lagos Added yesterday
5000 sqm
Landsome Company Limited
4, 800 SQM Corner Land — Thompson Road and Glover Road, Old Ikoyi, Ikoyi, Lagos
Premium
1
₦21,600,000,000

Land joint venture

4, 800 SQM Corner Land

Joint Venture Development Opportunity Corner piece -- thompson & glover road, old ikoyi Location: Corner piece between Thompson Road and Glover Road, Old Ikoyi, Lagos Land Size: Approximately 4,800 sqm Land Value: ₦4,500,000 per sqm Premium: Nil Title: To be provided for review Proposal: 12 floor block of flat. The land is owned by a major military general Procedure for closure: 1) Inspection 2) Loi from the developers company letter headed and signed by the developer. 3) Facilitators fee letter. Signed by the developer. 4) Structural proposal. 5) Meeting with the owner at abuja. Please Note: For any Enquiry. State your link first before asking my link. If not I'll ignore your message and delete it from my DM Thank you for complying Golden

Thompson Road and Glover Road, Old Ikoyi, Ikoyi, Lagos Added yesterday
4800 sqm
Flowtouch Properties
4, 630.52 SQM Prime Land — Milverton Road, Old Ikoyi, Ikoyi, Lagos
Premium
1
₦4,500,000

Land joint venture

4, 630.52 SQM Prime Land

Over 1 acre of prime land for joint venture on Milverton Road, Old Ikoyi, Lagos. Land Size: 4,630.52 sqm Site Configuration: One continuous JV site comprising 2 adjoining parcels Parcel Sizes: 2,340.32 sqm & 2,290.20 sqm Preferred Development Option: Luxury single or twin-tower development of 9--11 floors or more. Construction to be handled by a verified and experienced contractor. Sharing ratio: Subject to mutual agreement with the landowner Title: Lagos State C of O Land Value: ₦4.5 Million per sqm Property Path: - Prestigious Milverton Road address in Old Ikoyi - Ultra-luxury residential market with strong demand from HNIs, executives & expatriates - Scarcity of large development sites, supporting premium development potential - Strategic access to Victoria Island, Banana Island, Falomo & other key Lagos business districts Only direct clients or principal mandates are welcome. Kindly note that inquiries from third parties will not be responded to.

Milverton Road, Old Ikoyi, Ikoyi, Lagos
4631 sqm
Fortmichan Real Estate Services
Premium
₦21,000,000,000

Mixed-use land joint venture

5, 000SQM Mixed-Use Land

Joint venture 5,000SQM osborne phase 1 waterfront 3,200SQM to BE reclaimed by developer from the lagoon federal C of O Land summary Total Size: 5,000SQM Price: ₦4,200,000/SQM Total Land Value: ₦21,000,000,000 Note On Ground: 1,800SQM Direct Waterfront Build ready To Be Reclaimed: 3,200SQM From the lagoon by Prospective Developer Property Details Location: Osborne Phase 1, Ikoyi, Lagos Title: Federal Certificate of Occupancy & Other Relevant Documents Proposal: Detached Houses or Terrace Houses JV Terms: Sharing Formula To Be Discussed Facilitator's Fee: 10% Note: 3,200SQM requires reclamation from the lagoon as advised by the owner

Osborne, Ikoyi, Lagos
5000 sqm
Bentol Home Plus
Premium
₦4,500,000

Residential land joint venture

4, 000 SQM Residential Land

JV opportunity Location: Banana Island Road - Ikoyi Lagos Key Details: - Land size: 4,000 SQM - Land Value: ₦4.5m Per SQM - Proposal: Maisonette & apartments - Facilitators' Fees: 10% - Sharing Ratio: TBD Note: Owner wants a building on the 1,000 SQM for himself and 3,000 SQM with block of flats/maisonette High-rise. Experience developer is a must with proof of funds BS

Banana Island Road, Ikoyi, Lagos
4000 sqm
Bentol Home Plus
4500SQM of Land — Osborne, Ikoyi, Lagos
Premium
1
₦12,500,000,000

Land joint venture

4500SQM of Land

Joint venture osborne phase 2 4500sqm available for partnership Proposal of maisonette Of 2bed, 3 and 4bed 80units in total on 13 floors Premium to be discuss Value 12.5b Title: C of O Semi direct Facilitator fee 10%

Osborne, Ikoyi, Lagos
Bentol Home Plus
3376.299SQM of Land Strictly for Residency Purpose — Ikoyi, Lagos
Premium
1
₦2,000,000

Commercial land joint venture

3376.299SQM of Land Strictly for Residency Purpose

Size: 3376.299Sqm Price: N2,000,000 per Sqm Title: Lagos State CofO Note: Strictly Residential, Outright Sale and No Joint Venture. Half (being 1,688.15sqm) can be sold. Location: Ikoyi coma#

Ikoyi, Lagos
3377 sqm
Emmy Properties
Premium
₦4,500,000

Residential land joint venture

Land Development Partnership

Joint Venture Opportunity -- Milverton Road, Ikoyi ‎ ‎location: Milverton Road, Ikoyi, Lagos ‎ ‎Land Details: ‎- 2 Plots of Land (A & B) ‎- Plot a: 2,340.32 sqm ‎- Plot B: 2,298.20 sqm Total Plots= 4,629.52 ‎ ‎Land Value: N4,500,000 per sqm ‎Title: Lagos State C of O ‎Premium: Nil ‎Survey: Available upon submission of company profile ‎mou: Available if required ‎ ‎Owner's Development Preference:* ‎- Single Tower or Twin Tower Development ‎- Minimum of 11 Floors and above ‎- Preferred contractor to handle construction must be verified and experienced ‎ ‎a rare Joint Venture opportunity in one of Ikoyi's most prestigious locations, suitable for a high-end luxury development. ‎ ‎Interested developers/investors are welcomed to engage. (MTom)

Milverton Road, Ikoyi, Lagos
4629 sqm
Leaders Properties Limited
1400 SQMS Land — Banana Island, Ikoyi, Lagos
Premium
1
₦6,500,000,000

Residential land joint venture

1400 SQMS Land

Banana Island, Ikoyi. 1,400 SQM. Joint Venture. ₦6,500,000,000 Land Value. ₦1,000,000,000 Premium. Federal Certificate of Occupancy. This Is Not a Home for a Renter to Buy. This Is the Plot a Developer Has Been Waiting For. The problem There is a category of Lagos real estate conversation that has nothing to do with escaping a landlord --- and this listing sits squarely inside it. Most JV opportunities marketed as "Banana Island" turn out to be undersized, poorly titled, or attached to a landowner whose sharing terms make the arithmetic unworkable before a single foundation is poured. Developers who have spent years circling this island for a genuine build slot know the actual bottleneck isn't capital. It's finding 1,400sqm, Federal C of O, on the island itself, from an owner who has already stated what they want built. This listing removes that bottleneck. The owner has already specified the outcome: a block of luxury flats, or luxury terrace houses with a penthouse. The title is Federal C of O --- the cleanest instrument available on this island. The land size is large enough to support a real development footprint, not a compressed one. The question isn't whether Banana Island is the correct address for a luxury residential development. It's whether this specific parcel, at this specific value, is the one worth committing construction capacity to before another developer does. The agitation Here is what the numbers on Banana Island JV land actually show right now. Recent comparable JV parcels on the island have valued land anywhere from roughly ₦850,000/sqm on older-dated listings up to ₦2.1M/sqm, ₦4M/sqm, and ₦5M/sqm on more recent 2026-dated JV offers --- a spread that reflects waterfront position, zoning, and how recently the parcel was valued. A 1,500sqm JV parcel currently listed elsewhere on the island values land at ₦5M/sqm for a total of ₦7.5B, proposing a mixed low-rise-to-penthouse structure comparable in ambition to what this owner is requesting. This listing --- 1,400sqm, ₦6.5B land value, ₦1B premium --- works out to approximately ₦4.64M per sqm before the premium is factored in. That places it inside the current Banana Island JV range, priced below the ₦5M/sqm comparable cited above, on a parcel large enough to support either of the two development formats the owner has already approved. The scarcity is not abstract. Banana Island's land supply for JV-ready parcels with Federal C of O --- as opposed to Lagos State C of O, or land still working through title perfection --- has been consistently limited, which is precisely why the JV structure exists at all: the owners holding this land are not selling it outright, and they are not releasing it to just any developer. Every month a qualified developer defers engaging this specific parcel, the risk isn't that the price falls. It's that another development partner with proof of capacity closes it first. The solution 1,400 square metres of residential land, Banana Island, Ikoyi. Federal Certificate of Occupancy. ₦6,500,000,000 land value. ₦1,000,000,000 premium. Owner-approved development path: a block of luxury flats, or luxury terrace houses with a penthouse. Here is what this parcel actually delivers to the developer who can close it: Federal Certificate of Occupancy. The strongest individual title instrument available under Nigerian land law, superior in registration standing to a Lagos State-issued C of O or a Deed of Assignment awaiting Governor's Consent. For a developer financing construction against this land, or presenting to institutional co-investors, a Federal C of O removes the single biggest source of delay and legal risk in a Lagos JV --- title uncertainty. 1,400sqm on Banana Island itself. Not an adjacent axis, not a "Banana Island-adjacent" address used loosely by other listings. This is land on the island the entire luxury Lagos market treats as the ceiling reference point --- the address every other Ikoyi and VI comparable gets measured against, not the reverse. Owner-defined development brief. The owner is not asking a developer to guess what will be approved. Luxury flats, or luxury terrace houses with a penthouse, are already the stated preference --- which shortens the negotiation phase considerably compared to a JV where design intent is still undefined. ₦6.5B land value against a market range of ₦4M--₦5M/sqm on comparable 2026 JV parcels. At approximately ₦4.64M/sqm, this parcel sits inside --- and below the top of --- the current range for genuine Banana Island JV land, before any premium negotiation. ₦1B premium. Disclosed upfront, not buried in a facilitator's fee structure discovered mid-negotiation. A developer evaluating this deal knows the full cost basis before committing time to due diligence. Why this beats the alternative JV parcels currently circulating. Several Banana Island JV listings on the market right now carry ambiguous or undisclosed premiums, Lagos State C of O rather than Federal, or land sizes too small to support anything beyond a compressed low-rise. This parcel discloses its premium, holds the stronger title, and sits at a size that supports a genuine luxury block or terrace-with-penthouse format --- the exact profile that has driven the strongest resale and rental yields on the island over the past several years. The call to action 1,400sqm. Banana Island, Ikoyi. Federal C of O. ₦6,500,000,000 land value. ₦1,000,000,000 premium. Development path: luxury flats or luxury terrace houses with penthouse. This is not an offer for a corporate professional looking to stop renting. This is a JV slot for a developer, construction firm, or family office with the capacity to execute a Banana Island-grade build and the documentation to prove it. Call the agent, or send your company profile for survey review, via Smilebay Realties: +234 901 517 4801. Serious developers only. Proof of construction capacity required before terms are discussed. The island doesn't release land like this often. The title is already Federal C of O. The brief is already written. The developer who closes it hasn't been decided yet. Land Type: Residential Land --- Joint Venture Size: 1,400 sqm Land Value: ₦6,500,000,000 Premium: ₦1,000,000,000 Title: Federal Certificate of Occupancy (C of O) Owner's Development Preference: Block of luxury flats, or luxury terrace houses with penthouse Security: Security/gateman Location: Banana Island, Ikoyi, Lagos NPC Comparable Context (Banana Island JV/land market, 2026): 1,500.23sqm JV parcel, Banana Island Estate --- ₦5,000,000/sqm (₦7.501B total) 2,300sqm JV parcel, Banana Island (mixed zone) --- ₦4,000,000/sqm + ₦300M premium 1,900sqm JV parcel, Banana Island (corner piece) --- ₦2,100,000/sqm This listing: 1,400sqm, Banana Island --- approx. ₦4,640,000/sqm + ₦1B premium Posted: 24 July 2026 Listed by: Smilebay Realties Limited --- Ref: #358-722-7

Banana Island, Ikoyi, Lagos
Smilebay Realties Limited
Premium
₦4,500,000

Residential land joint venture

4000SQM of Land in a Well Secured Area

Joint Venture Opportunity Alert Location : Banana Island Estate Road, Ikoyi, Lagos Key Details: . Land size: 4,000 SQM . Land Value: ₦4.5m Per SQM . Proposal: Maisonettes & Apartments . Facilitators' Fees: 10% . Sharing Ratio: TBD note: Owner wants a building on the 1,000 SQM for himself and 3,000 SQM with block of flats/maisonette High-rise. Experience Developer is a must with proof of Funds. Olajbatdangbe

Banana Island, Ikoyi, Lagos
4000 sqm
David Moren Property Services
Premium
₦13,500,000

Residential land joint venture

3000SQM Residential Land

Joint venture Land Size: 3,000sqm Location: Kingsway, Ikoyi, Lagos. Land value: #4.5m per sqm Title: C of O Proposal: up to 12 floors Sharing Ratio: 60:40% Premium: nill Facilitators: 10% Net Note: - Send expression of interests & project proposal. - facilitators' fee's letter 10% Net. - construction company profile.

Kingsway, Ikoyi, Lagos
3000 sqm
M.B.B Property & Legal Services
Residential Land on Glover Road — Glover Road, Ikoyi, Lagos
Premium
1
₦8,810,227,630

Residential land joint venture

Residential Land on Glover Road

Joint venture opportunity Glover road, ikoyi Land Details: - Survey: Available - Location: Glover Road, Ikoyi - Size: 1,878.729 sqm - Title: Lagos C of O - Premium: Nil - Land Value: ₦4.700,000 per Sqm - Mou: Subject to agreement - Development Preference: Luxury Residential Apartments

Glover Road, Ikoyi, Lagos
Gripzace Realty LTD
Premium
₦10,500,000,000

Residential land joint venture

A Land Measuring 2,340.32 SQM

Joint venture opportunity -- milverton road, ikoyi Location: Milverton Road, Ikoyi, Lagos Land Details: - 2 Plots of Land (A & B) - Plot a: 2,340.32 sqm - Plot B: 2,298.20 sqm Land Value: N4,500,000 per sqm Title: Lagos State C of O Premium: Nil Survey: Available upon submission of company profile mou: Available if required Owner's Development Preference: - Single Tower or Twin Tower Development - Minimum of 11 Floors and above - Preferred contractor to handle construction must be verified and experienced a rare Joint Venture opportunity in one of Ikoyi's most prestigious locations, suitable for a high-end luxury developmen. Interested developers/investors are welcome to engage. #awdeZ

Milverton Road, Ikoyi, Lagos
2340 sqm
Awodd Properties LTD
Premium
₦4,000,000

Residential land joint venture

A Land Measuring 1159 SQM

JV available at lugard old ikoyi Size: 1159sqm Title: Lagos State CofO Agency: 10% Premium: 150M Proposal: Apartments Value: 4M per sqm Sharing formula: 50/50 Procedures: - Company profile - Letter of intent - Facilitators fees We can close in 1 week #awdjum

Lugard Road, Ikoyi, Lagos
1159 sqm
Awodd Properties LTD
8000SQM Prime Waterfront Land for Luxury Residential Development — 2nd Avenue, Banana Island, Ikoyi, Lagos
Premium
1
₦36,000,000,000

Residential land joint venture

8000SQM Prime Waterfront Land for Luxury Residential Development

8000sqm Prime Waterfront Land for Luxury Residential JV Development The property comprises approximately 8,000 SQM of prime waterfront land, with the option to divide into two portions, making it suitable for phased development. Development Purpose - Luxury Residential Development - Ultra-luxury apartments - Waterfront mansions - Premium high-end real estate project commercial terms Land Value: ₦4.5 Million per SQM Indicative Land Value: ₦36 Billion Premium: ₦2 Billion --- deductible from the Owners' Share Facilitators' Fee: 10% Title: Registered Supreme Court Judgment Location: 2nd Avenue, Banana Island, Ikoyi, Lagos

2nd Avenue, Banana Island, Ikoyi, Lagos
Jonela Concept

Showing 1–20 of 164 properties

Area Guide

About Ikoyi, Lagos

By and large, Ikoyi is a posh neighbourhood with a mishmash of exquisite residential apartments and commercial presence.

Ikoyi borders the Lagos Lagoon and takes up the eastern half of Lagos Island. It is one of the towns that make up the Eti-Osa Local Government Area of Lagos state.

Originally, the British Colonial Governments designated Ikoyi as a residential area for the expatriate community perhaps due to its proximity to the sea. However this arrangement changed with time with big establishments locating their corporate headquarters at Ikoyi. Ikoyi is home to the creme de la creme of the Nigerian society, from diplomats to senior company, business executives and senior public servants.

Read the full area guide
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There are 164 available land joint venture in Ikoyi, Lagos. You can view and filter the list of property by price, furnishing and recency.

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