900 SQM Lekki Phase 1

Joint Venture Development Opportunity -- Lekki Phase 1, Lagos 900 SQM Proposed: 18 Units on 4 Upper Floors (1, 2, 3 Bed Flats + 2 Penthouses) Entire Ground Floor Parking Fully Serviced Land Value: ₦1.9B Premium: ₦100M Sharing: 50:50 Facilitator's Fee: 10% Property & JV Overview

• Location: Lekki Phase 1, Lagos.
• Land Size: 900 SQM.
• Title: To be verified (C of O / Governor's Consent expected).
• Land Value: ₦1,900,000,000.
• Premium: ₦100,000,000 (payable upon JV contract signing).
• Proposed Development:
• 18 units on four upper floors.
• Unit mix: 1-bedroom, 2-bedroom, and 3-bedroom flats.
• 2 units of 4-bedroom flats on the 4th floor (penthouse floor).
• Entire ground floor dedicated to parking.
• Fully serviced development.
• Sharing Formula: 50:50 (landowner : developer).
• Landowner's 50% share: 3 × 3-bedroom on 3 floors, 3 × 2-bedroom on 3 floors, 3 × 1-bedroom on 3 floors -- a total of 9 units.
• Developer's 50% share: Remaining units (including the 2 × 4-bedroom penthouses and other units).
• Facilitator's Fee: 10% of land value (₦190 Million).
• Status: Vacant land, ready for a joint venture development.

Key Highlights

• Prime Lekki Phase 1 Address: One of Lagos's most prestigious and high-demand residential districts -- excellent rental and resale value.
• Clear Development Proposal: A defined 18-unit configuration with ground-floor parking and fully serviced apartments -- providing a ready roadmap for developers.
• Balanced 50:50 Sharing: Transparent and equitable partnership structure. The landowner's share is clearly defined (9 units), with the developer taking the remaining units.
• Premium Commitment: ₦100M upfront at signing -- ensures a serious, well-capitalised developer.
• Fully Serviced: Planned as a serviced development (likely with backup power, water treatment, security, and maintenance) -- appealing to high-end tenants.
• High Rental Demand: Lekki Phase 1 consistently attracts professionals, expatriates, and families seeking quality accommodation.

Development Vision -- 18 Units Across 4 Upper Floors

• Ground Floor: Entirely dedicated to parking, lobby, and amenities.
• 1st -- 3rd Floors: Mix of 1-bed, 2-bed, and 3-bed flats (landowner's 9 units are drawn from these floors).
• 4th Floor (Penthouse Level): 2 spacious 4-bedroom flats with premium finishes and panoramic views.
• Total Units: 18 (including the 2 penthouses).
• Servicing: Fully serviced apartments -- ideal for corporate letting or luxury residential sale.

Target Market: High-net-worth individuals, corporate executives, expatriates, and investors seeking quality accommodation in Lekki Phase 1. Location Benefits -- Lekki Phase 1

• Prestige Address: Close to Admiralty Way, Ikoyi, Victoria Island, and major business hubs.
• Secure & Serene: Low-density, well-paved streets, and 24/7 security presence.
• High Demand: Consistent interest from tenants and buyers -- strong rental yields and capital appreciation.
• Amenities Nearby: Top schools, hospitals, shopping centres, restaurants, and leisure spots.

Financial Structure

• Land Contribution Value: ₦1.9 Billion.
• Premium (Upfront): ₦100 Million -- payable to landowner upon JV contract signing.
• Developer's Role: Provide 100% of construction financing, project management, and sales/letting.
• Profit Sharing: 50% Landowner / 50% Developer -- with landowner's share defined as 9 specific units.
• Facilitator's Fee: 10% of land value (₦190 Million), typically paid from the landowner's share upon JV execution.

Next Steps for Interested Developers Prospective developers should acknowledge this proposal as outlined before a meeting is set up. To proceed, submit: 1. Letter of Intent (LOI) -- confirming acceptance of the terms (50:50 sharing, ₦100M premium, 10% facilitator fee). 2. Company Profile -- with verifiable evidence of multi-unit residential projects completed in Lekki, Victoria Island, or Ikoyi. 3. Proof of Funds -- bank statements or financing letters showing capacity for a project of this scale (construction cost estimated ₦800M -- ₦1.2B+). 4. Bank Guarantee -- ability to provide a performance guarantee as required. 5. Preliminary Concept Note -- initial design and timeline aligned with the 18-unit proposal. 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 reputable real estate development firm with a proven track record in multi-unit residential projects.
• Strong financial capacity and ability to fund construction without sole reliance on off-plan sales.

Lekki Phase 1 JV -- 900 SQM, 18 Units, 50:50 Sharing, ₦100M Premium, 10% Facilitator Fee. Serious developers with capacity and track record only -- acknowledge proposal to proceed.