Lucrative 83000sqm Joint Venture Opportunity On Offer

CLOSEABLE JOINT‑VENTURE OPPORTUNITY ---
RICHLAND ESTATE (SHAPATI), BEFORE ELEKO JUNCTION, IBEJU‑LEKKI
Headline
Rare, large‑scale JV parcel in the fast‑appreciating Ibeju‑Lekki corridor --- 50 contiguous plots (83,000 sqm) inside Richland Estate, Shapati, positioned before Eleko Junction. Ideal for medium‑high density residential delivery: blocks of flats, terraces and mixed‑use components.
Quick Facts
- Location: Richland Estate, Shapati --- before Eleko Junction, Ibeju‑Lekki, Lagos
- Land Size: 83,000 sqm (8.3 hectares / approx. 20.5 acres) --- 50 plots sold together
- Land Value per Plot: ₦40,000,000 (Forty Million Naira)
- Total Property Value: ₦2,000,000,000 (Two Billion Naira)
- Title: Certificate of Occupancy (C of O) --- bankable and verifiable
- Premium: None (No premium payable)
- Proposed Product: Blocks of flats, terraces, gated residential estate (owner's preference)
- Sharing Formula: 60% : 40% (to be formalised / subject to final JV agreement)
- Brokerage / Facilitator Fee: 10% (to be included in Heads of Terms)

Why this JV is strategic

- Location advantage: Positioned before Eleko Junction --- excellent road connectivity to the Lekki Free Trade Zone, Ajah, Lekki Phase 1 and Lagos mainland. Rapid infrastructure investment in Ibeju‑Lekki drives strong demand for residential product.
- Scale to deliver: 83,000 sqm gives meaningful density economics --- deliverable portfolio of apartment blocks, terraces or a mixed gated community with cost efficiencies in servicing and construction.
- Bankable title: C of O supports financing, mortgageability of finished units and institutional partnerships.
- No premium barrier: Owner requires no premium, accelerating deal close and improving project IRR for the developer.
- Market fit: Target market includes mid‑to‑upper‑market owner‑occupiers, investors and rental demand from growing working populations in the Lekki corridor.

Owner's brief / proposal
- Owner prefers residential delivery: blocks of flats and terraces (flexible to developer design proposals).
- Landowner is open to a structured JV where land is contributed and developer funds construction/management.
- Suggested sharing formula headline: 60% / 40% (commercial terms to be negotiated and captured in Heads of Terms).

Commercial mechanics & fees
- Land value basis: ₦40m x 50 plots = ₦2,000,000,000 (used as the land contribution value for JV calculations).
- Facilitator / Brokerage: 10% of agreed transaction/land value --- payable as agreed in the contract.
- Premium: Nil --- simplifies commercial close and improves developer returns.

Process, requirements & how to engage (strict)

1. Letter of Intent (LOI) is mandatory prior to inspection. LOI must state:
- Developer's interest in the JV (high level concept)
- Technical capability (construction track record, delivery team)
- Financial capacity (proof of funds / financing partner)
- Commitment and ability to deliver within 24 months
2. On receipt of a compliant LOI: NDA & data‑room access (C of O, survey, estate docs).
3. Site inspection scheduled for qualified parties only.
4. Developer submits commercial JV proposal (sharing mechanics, delivery plan, timeline, financing).
5. Negotiate Heads of Terms Execute JV Agreement Mobilise works.

Due diligence & documentation
Full C of O, survey and estate documentation available for qualified parties following LOI, proof of capacity and NDA. Professional conveyancing and structured JV documentation recommended.

Who should apply

- Experienced residential developers and contractors ready to execute within 24 months
- Institutional investors, pension funds and equity partners seeking land‑backed JV returns
- Consortiums with construction and offtake capacity
Call to Action --- Serious developers only
This is a closeable, high‑scale JV in a strategic Ibeju‑Lekki location. To participate: submit your LOI now (LOI template available on request). Qualified parties will receive the data room, arrange site inspection and move to Heads of Terms.
Contact
Provide LOI and proof of capacity to initiate the process. All enquiries treated confidentially --- only serious, pre‑qualified developers and investors will be granted access to full documentation.
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