Residential land joint venture
3,700 SQM Residential Land with Federal C of O
Joint Venture Opportunity -- Old Ikoyi, Lagos 3,700 SQM Federal C of O Title Land Value: ₦6M per SQM (Subject to Valuation) Premium: ₦700M Facilitator's Fee: 8% Property & JV Overview Location: Old Ikoyi, Lagos -- one of the most prestigious and established residential districts in Nigeria. Land Size: 3,700 SQM. Title: Federal Certificate of Occupancy (C of O). Land Value: ₦6,000,000 per SQM (subject to formal valuation). Total Land Value (Indicative): ₦22,200,000,000 (≈ ₦22.2 Billion). Premium: ₦700,000,000 (payable upon JV contract signing). Proposed Development: Block of Apartments with Maisonettes & Penthouses. Sharing Formula: To be negotiated based on land valuation vs. development cost. Facilitator's Fee: 8% of land value. Key Highlights Old Ikoyi Prestige Address: A quiet, low-density, high-value neighbourhood -- home to embassies, corporate executives, and legacy families. Federal C of O Title: Strong ownership security, verified through the Federal Ministry of Lands, Housing & Urban Development. Luxury Development Vision: Proposed mix of apartments, maisonettes, and penthouses targets the ultra-luxury segment. Large Development Canvas: 3,700 SQM allows for a landmark residential project with premium amenities. Premium Commitment: ₦700M upfront at signing -- ensures a serious, well-capitalised developer. Development Potential High-end residential tower(s) with a mix of 2-, 3-, and 4-bedroom apartments. Maisonettes offering duplex living within the building. Penthouses with panoramic views, private terraces, and top-tier finishes. Amenities: Multi-level parking, gym, pool, spa, concierge, 24/7 security, backup power, and water treatment. Target Market: Ultra-high-net-worth individuals, corporate tenants, expatriates, and international investors. Location Benefits -- Old Ikoyi Prestige & Privacy: Tree-lined streets, low traffic, and a mature, high-value community. Proximity to Business Hubs: Minutes from Victoria Island, Ikoyi business district, and Lagos Island. Excellent Infrastructure: Well-maintained roads, drainage, security, and access to top schools, hospitals, and clubs. High Demand, Limited Supply: New luxury developments in Old Ikoyi are rare -- ensuring strong pre-sales and rental demand. Financial Structure Land Contribution Value: ₦22.2 Billion (indicative; subject to valuation). Premium (Upfront): ₦700 Million -- payable to landowner upon JV contract signing. Developer's Role: Provide 100% of construction financing, bank guarantee, project management, and sales/letting. Profit Sharing: To be negotiated -- typically based on the ratio of land value to total development cost. Facilitator's Fee: 8% of land value, typically paid from the landowner's share upon JV execution. Next Steps for Qualified Developers Interested developers must submit: 1. Letter of Intent (LOI) -- confirming interest and acceptance of the premium payment. 2. Company Profile -- with verifiable evidence of luxury high-rise projects (15+ floors) completed in Ikoyi, Victoria Island, or Banana Island. 3. Proof of Funds -- bank statements or financing letters showing capacity for a project of this scale (estimated construction cost ₦30B--₦50B+). 4. Bank Guarantee -- ability to provide a performance guarantee as required. 5. Preliminary Concept Note -- initial design and timeline aligned with the proposed block of apartments, maisonettes, and penthouses. Due Diligence: Upon signing an nda and facilitator fee agreement, the facilitator will provide the Federal C of O, survey, and arrange a site inspection. Title verification to be conducted through the Federal Ministry of Lands (Abuja or Lagos office). Ideal Partner Profile: Top-tier real estate development firm with a proven track record in ultra-luxury high-rises in prime Lagos locations. Strong financial capacity and access to construction finance. Experience with Federal C of O properties is advantageous. Old Ikoyi JV -- 3,700 SQM, Federal C of O, ₦6M/SQM, ₦700M premium, 8% facilitator fee. Serious, qualified developers only -- with proof of funds and luxury track record.
