Residential Land

Joint Venture Opportunity in Ikate Elegushi, Lagos Gbangbala Street, Off Freedom Way, Ikate Elegushi, Lagos Land Size: 1,263 SQM Property Type: Land Transaction Type: Joint Venture Land Value: ₦900,000 per SQM Indicative Property Value: ₦1.1367 Billion Premium: ₦100 Million Sharing Formula: 40% / 60% Facilitators' Fees: 10% of the Land Value Proposed Development The property owner is seeking a capable developer for a residential Joint Venture development on the 1,263 SQM land. The owner's preferred development is:

• 22 Units of 2-Bedroom Apartments
• Residential apartment development
• Development and unit configuration to be agreed with the property owner
• Joint Venture Sharing Formula: 40% / 60%

Location Advantage The property is located on Gbangbala Street, off Freedom Way, Ikate Elegushi, within an established residential and commercial corridor with convenient access to Lekki Phase 1 and surrounding parts of the Lekki--Ikate axis. The location is well suited for a contemporary apartment development targeted at buyers and investors seeking properties within the Freedom Way and Ikate neighbourhoods. Thoughts A well-positioned Joint Venture opportunity within the Freedom Way--Ikate Elegushi corridor, offering a clearly defined residential development concept. With a land size of 1,263 SQM, an indicative land value of approximately ₦1.137 Billion, and the owner's proposal for 22 units of 2-bedroom apartments, the opportunity provides a developer with a clear basis for assessing construction costs, projected sales values and overall development returns. The 40% / 60% Joint Venture structure and ₦100 Million premium should be incorporated into the developer's financial feasibility and project proposal. Developer Requirement Interested developers should be prepared to provide:

• Company Profile
• Expression of Interest / Letter of Intent
• Evidence of previous developments
• Proposed Development Concept
• Financial Capacity / Proof of Funds
• Proposed Project Delivery Timeline
• Acceptance or proposed structure for the 40% / 60% sharing arrangement
• Facilitator's Letter on Developer's Letterhead

Further documentation, title information and detailed Joint Venture terms will be made available to qualified developers. #zahri