Exclusive Joint-Venture Development Opportunity --- 4,000 sqm Landholding, (Adjacent to Next Cash & Carry)
Times Tower --- Proposed 12-storey Luxury Mixed-Use Development
Overview
A rare development opportunity in Mabushi on a 4,000 sqm freehold/long-title land parcel located immediately adjacent to Next Cash & Carry. The site is proposed for a high-end, 12-storey "Times Tower" branded luxury mixed-use building. The sponsor/owner is seeking a strategic joint-venture partner to either
(A) undertake full design-and-build delivery (start-to-finish development JV) or
(B) provide an equity deposit of ₦4,000,000,000 (Four billion Naira) in exchange for a 40% project stake (terms negotiable).
This opportunity is ideal for experienced developers, institutional investors, hospitality groups, property funds or consortiums seeking a landmark, high-return asset in a premium Abuja neighbourhood with strong retail and corporate catchment.
Key highlights
- Prime 4,000 sqm land parcel. immediately adjacent to Next Cash & Carry.
- Proposed 12-storey luxury mixed-use tower (Times Tower concept) --- premium design and finishes.
- Flexible development program: residential (luxury apartments & penthouses), serviced apartments/hotel, premium office suites, retail podium and F&B, secure parking and amenities.
- Joint-venture options: full developer-led delivery or equity participation via deposit for stake.
- Strong commercial location with high footfall and captive retail/office customer base.
- Ideal for flagship hospitality, residential-led investment or mixed-use asset with long-term income potential.
- Title, site handover and commercial terms available on enquiry (subject to verification and NDA).
Proposed development concept (indicative)
Times Tower will be positioned as a landmark luxury asset tailored to premium occupiers and guests. The final program and gfa will be determined with the JV partner and following planning approvals, but a typical configuration could include:
- Ground / podium levels: premium retail units, F&B outlets, main lobby, concierge and reception.
- Lower levels: secure basement and podium parking, service yards, back-of-house.
- Mid floors: luxury one- and two-bedroom apartments or serviced apartments / hotel rooms.
- Upper floors and penthouse level: premium three-bedroom units, duplex penthouses and rooftop amenities.
- Dedicated amenities: fitness centre, spa, swimming pool, conferencing/meeting rooms, business centre, landscaped terraces and rooftop lounge.
- Building systems: high-spec mep, standby power generation, water treatment/boosting, fire/life-safety systems and high-speed vertical transportation.
- Sustainability & security: opportunity for green building features, secure access control, 24-hour security and concierge services.
Ideal uses and target occupiers
- Luxury residential apartments and penthouses (owner-occupiers and investors)
- Serviced apartments or boutique hotel (corporate & leisure guests)
- Premium office suites / executive floors
- Retail and F&B anchored by Next Cash & Carry adjacency
- Corporate leased space for embassies, oil & gas, telecoms, financial institutions and professional services
- Mixed-use investors seeking diversified income streams (sales + rentals)
Location & accessibility
Strategically positioned in Mabushi, Abuja, with immediate proximity to major commercial and residential nodes. Key locational advantages:
- Direct adjacency to Next Cash & Carry (boosts shopper footfall and complementary retail).
- Close to key corridors and neighbourhoods including Maitama, Asokoro, Wuse and Central Area.
- Convenient access to major arterial roads and transport links serving the city.
- Strong corporate and diplomatic catchment --- attractive for serviced apartments and premium offices.
- Nearby retail, banking, healthcare and municipal services supporting long-term occupancy.
Joint-Venture options (summary)
Option a --- Developer-led JV (Start-to-Finish)
- Partner (developer / consortium) appointed to manage design, approvals, financing, constructionkk and handover.
- Equity, profit-sharing and management terms to be negotiated; sponsor willing to consider various structures including build-for-equity, development-management fee and performance incentives.
- Ideal for partners with full development capability and construction financing.
Option B --- Equity Deposit for Stake
- Immediate entry option: deposit of ₦4,000,000,000 (Four billion Naira) for a proposed 40% stake in the project.
- Deposit converts to equity; further capital call and financing structure to be agreed under a formal JV agreement.
- Stake entitles partner to proportionate share of profits, governance rights and reporting (specifics negotiable).
- Suitable for investors seeking equity ownership without managing construction.
Financials & commercial terms (indicative)
- Land area: 4,000 sqm
- Proposed height: 12 storeys (subject to planning & approvals)
- Pricing, capital stack, projected costs, revenue and returns to be provided on request as part of the project proforma and due diligence pack.
- All financials, equity splits, milestone payments, developer fees and exit mechanisms to be formalised in a JV agreement.
- VAT, taxes, statutory fees, planning and licensing costs excluded from headline deposit and subject to statutory rates.
Due diligence & approvals required
Prospective partners will be expected to undertake or agree to permit the following as part of the diligence and onboarding process:
- verification and land due diligence (C of O, statutory third-party checks)
- Site survey and geotechnical investigations
- Planning and zoning review; submission for building permits and approvals
- Environmental, traffic and services impact assessments (as required)
- Feasibility study and financial modelling / project proforma
- Legal and tax due diligence
- Review of local utility capacity (power, water, drainage) and offsite infrastructure
- Licensing and statutory approvals for hospitality or commercial operations (if relevant)
Why invest / partner on this project?
- Strategic, high-profile location with strong retail anchor next door.
- Significant development upside from a luxury-branded tower in Mabushi.
- Flexible JV structures to suit developers and institutional investors.
- Diversified revenue potential (sales, rentals, hotel/serviced apartments, retail leases).
- Opportunity to create a marquee asset within Abuja's premium neighbourhoods.
Next steps & how to proceed
To progress, please provide:
- Confirmation of preferred JV route (Option a or Option B)
- Signed nda for access to full site documents and financial model
- Proof of funds / developer track record (for developer-led proposals)
- Availability for site inspection and initial meeting
On receipt, we will provide:
- Full land title documentation (subject to verification)
- Preliminary site plan and location map
- Indicative project proforma and capex estimate (subject to feasibility)
- Draft heads of terms for the preferred JV structure
Important notice
All information herein is provisional and subject to contract, title verification, planning approval and mutual agreement on commercial terms. The sponsor reserves the right to amend terms and preferred JV structures. Any reference to potential returns is indicative and should be independently verified. Applicable taxes, legal fees, agency fees and transaction costs are not included.
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