2000 Sqm Joint Venture Banana Island, Ikoyi, Lagos (mixed Zone )

Joint Venture Opportunity -- Banana Island, Ikoyi, Lagos
2,000 SQM Lagos State C of O Mixed Zone Land Value: ₦4M per SQM Proposed: High-Rise Premium: ₦300M Sharing: Open Facilitator's Fee: 10%

---

Property & JV Overview

- Location: Banana Island, Ikoyi, Lagos (Mixed Zone -- allows for residential and select commercial uses).
- Land Size: 2,000 SQM.
- Title: Lagos State Certificate of Occupancy (C of O) -- the strongest state‑issued title for this exclusive island.
- Land Value: ₦4,000,000 per SQM.
- Total Land Value: ₦8,000,000,000.
- Premium: ₦300,000,000 (payable upon JV contract signing).
- Proposed Development: High‑rise (specific height/storeys to be determined based on planning approvals).
- JV Sharing Formula: Open for discussion (landowner : developer ratio to be negotiated).
- Facilitator's Fee: 10% of land value (₦800 Million), payable upon JV agreement.

---

Key Highlights

- Africa's Most Exclusive Address: Banana Island is the pinnacle of luxury living in Nigeria -- unparalleled security, underground utilities, waterfront views, and prestige.
- Mixed Zone Flexibility: Permits high‑rise residential and certain commercial uses (e.g., boutique hotel, corporate guest house, medical suites) -- maximizing development options.
- Strong Lagos State C of O: Full government‑issued title -- bankable, transferable, and legally secure.
- High‑Rise Potential: The site's location and zoning support a landmark tower, subject to necessary approvals.
- Upfront Premium: ₦300M payable at contract signing -- ensures a serious, well‑capitalized development partner.
- Open Sharing Ratio: Allows for tailored negotiation based on developer's proposed investment, construction cost, and risk allocation.

---

️ Development Potential

Given Banana Island's mixed zone and high‑value context, potential concepts include:

- Ultra‑luxury residential tower -- penthouses, full‑floor apartments, and duplexes.
- Boutique hotel or branded residences -- partnering with an international hospitality brand.
- Mixed‑use high‑rise -- ground floor retail/gallery, upper floors residential, rooftop amenities.
- Corporate headquarters for a multinational or institutional investor.
- Medical wellness centre with luxury apartments above.

Design Notes: High‑rise construction on Banana Island requires adherence to estate covenants, setback rules, and height restrictions -- the mixed zone may permit taller structures than pure residential zones.

---

Location Benefits -- Banana Island, Ikoyi

- Unmatched Prestige: Home to billionaires, diplomats, and top executives -- addresses command ultimate respect.
- World‑Class Infrastructure: 24/7 security, underground electricity, piped water, paved roads, central drainage.
- Waterfront Environment: Man‑made island with lagoon views and potential for marina access.
- Proximity to Business Hubs: Minutes from Ikoyi, Victoria Island, and Eko Atlantic.
- High Demand, Low Supply: New development opportunities on Banana Island are exceptionally rare.

---

Financial Structure

- Land Contribution Value: ₦8 Billion.
- Premium (Upfront): ₦300 Million -- payable to landowner immediately upon signing the JV contract.
- Developer's Role: Provide 100% of construction financing, bank guarantee (likely), project management, and sales/letting.
- Sharing Formula: Open -- to be negotiated based on total project cost, developer's risk, and expected returns. Typical models include:
- 60:40, 55:45, or 50:50 in favor of landowner.
- Tiered sharing based on sales milestones.
- Facilitator's Fee: 10% of land value (₦800 Million), typically paid from landowner's share upon JV execution.

---

Next Steps for Qualified Developers

Interested developers should submit:

1. Letter of Intent (LOI) -- expressing interest and confirming ability to meet premium payment.
2. Company Profile -- with verifiable evidence of luxury high‑rise projects (10+ floors) in prime Lagos locations (Banana Island, Ikoyi, Victoria Island).
3. Proof of Funds -- bank statements or financing letters showing capacity for a project of this scale (construction cost estimated ₦20B--₦40B+).
4. Bank Guarantee -- ability to provide a performance guarantee as required.
5. Preliminary Concept Note -- initial vision for the high‑rise (height, unit mix, amenities, timeline) and proposed sharing ratio.

Due Diligence:

- Upon signing an NDA and agreeing to terms, the facilitator will provide C of O, survey, and estate approvals.
- Site inspection can be arranged for serious principals.

Ideal Partner Profile:

- Top‑tier real estate developer with a proven record in ultra‑luxury high‑rises on Banana Island or Ikoyi.
- Strong financial capacity and access to construction finance.
- Experience with mixed‑zone developments is a plus.

Banana Island land for JV. Open sharing. High‑rise potential. Serious global‑calibre developers only -- with proof of funds and luxury track record.