1600 Sqm Joint Venture Off Femi Okunu Road Ikoyi

Joint Venture Opportunity -- Off Femi Okunu, Lekki/VI Corridor, Lagos
1,600 SQM Federal C of O Land Value: ₦4.5M per SQM Proposed: 16 Floors, 24 Luxury Units Premium: ₦300M Equal Sharing (50:50)

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Property & JV Overview

- Location: Off Femi Okunu Road, Lagos (prime Lekki Phase 1
- Land Size: 1,600 SQM.
- Title: Federal Certificate of Occupancy (C of O).
- Land Value: ₦4,500,000 per SQM.
- Total Land Value: ₦7,200,000,000.
- Premium: ₦300,000,000 (payable upon JV contract signing).
- Proposed Development: 16 floors comprising 24 luxury units:
- 8 units of 2‑bedroom flats
- 10 units of 3‑bedroom flats
- 4 units of 4‑bedroom (entire floor each)
- 2 units of 5‑bedroom duplex penthouses
- JV Sharing Formula: Equal (50:50) -- landowner : developer.
- Construction Timeline: To be negotiated (estimated 2--3 years).

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Key Highlights

- Premium Location: Off Femi Okunu -- a highly desirable street in the Lekki‑VI axis, close to Admiralty Way, Eko Atlantic, and major commercial hubs.
- Federal C of O: Strong title requiring verification through Federal Ministry of Lands -- a mark of solid ownership.
- Ultra‑Luxury High‑Rise: 16 floors with only 24 units means spacious, exclusive apartments -- each floor has limited units, with entire floors dedicated to 4‑bed apartments.
- Clear Unit Mix: Diverse offering from 2‑bed to full‑floor 4‑bed and duplex penthouses -- appeals to a wide spectrum of high‑net‑worth buyers/tenants.
- Upfront Premium: ₦300M payable at contract signing -- ensures serious, well‑capitalized developers.
- Transparent 50:50 Partnership: Aligns interests for a balanced, profitable collaboration.

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️ Proposed Development -- 16 Floors, 24 Units

Floor(s) Unit Type Quantity
Lower floors (e.g., 1--4) 2‑Bedroom flats 8
Mid floors (e.g., 5--9) 3‑Bedroom flats 10
Upper floors (10--13) 4‑Bedroom (entire floor) 4
Top floors (14--15) 5‑Bed Duplex Penthouse 2
Ground floor Lobby, parking, gym, pool, amenities --
16th floor Rooftop lounge / garden --

Unit breakdown: 8+10+4+2 = 24 units.
Target Market: Ultra‑high‑net‑worth individuals, corporate executives, expatriates, and luxury investors.

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Location Benefits -- Off Femi Okunu

- Strategic Lekki/VI Corridor: Minutes from Admiralty Way, Ahmadu Bello Way, and the Eko Atlantic entrance.
- Secure & Serene: Quiet street with excellent road network, drainage, and proximity to security posts.
- Established Neighbourhood: Surrounded by luxury estates, banks, international schools, hotels, and embassies.
- High Demand: Limited supply of new luxury high‑rise developments in this micro‑location ensures strong pre‑sales and rental interest.

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Financial Structure

- Land Contribution Value: ₦7.2 Billion.
- Premium (Upfront): ₦300 Million -- payable to landowner immediately upon signing the JV contract.
- Developer's Contribution: 100% of construction financing, bank guarantee, project management, and sales/letting.
- Profit Sharing: 50% Landowner / 50% Developer -- after recovery of agreed development costs.
- Effective Landowner Consideration: Land value (₦7.2B) + premium (₦300M) = ₦7.5B equivalent, factored into the 50:50 split.

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Next Steps for Qualified Developers

Interested developers must accept the terms (premium, 50:50 sharing, Federal title) as non‑negotiable. Submit:

1. Letter of Intent (LOI) -- confirming acceptance of all terms.
2. Company Profile -- with verifiable evidence of luxury high‑rise (12+ floors) projects in Lekki, VI, or Ikoyi.
3. Proof of Funds -- bank statements or financing letters showing capacity for a project of this scale (construction cost estimated ₦15B--₦25B+).
4. Bank Guarantee -- ability to provide a performance guarantee as required by landowner.
5. Preliminary Concept Note -- initial design and timeline aligning with the 16‑floor, 24‑unit specification.

Due Diligence:

- Upon signing an NDA and agreeing terms, the facilitator will provide Federal C of O documents, survey plan, and arrange site inspection.
- Title verification to be conducted through the Federal Ministry of Lands, Housing & Urban Development (Lagos or Abuja).

Ideal Partner Profile:

- Top‑tier real estate developer with proven record in luxury high‑rises (16+ floors).
- Strong balance sheet and access to construction finance.
- Experience with Federal C of O properties is advantageous.

Clear terms. Prime location. Luxury high‑rise. 50:50 partnership. Serious developers only -- with proof of funds and track record.