2,000 Sqm Joint Venture Opportunity -- Lekki Foreshore Off Freedom Way
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Property Description
JOINT VENTURE OPPORTUNITY -- LEKKI FORESHORE OFF FREEDOM WAY
2,000 SQM Deed of Assignment 50/50 Sharing Ratio
Land Value: ₦1.7 Billion (₦850,000 per SQM)
Proposal: Blocks of Luxury Flats
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Property Overview
- Location: Lekki Foreshore Estate, off Freedom Way, Lekki Phase 1, Lagos -- a prestigious waterfront-adjacent residential enclave offering serenity, security, and proximity to Lekki's best amenities.
- Land Size: 2,000 SQM.
- Title: Deed of Assignment (developer to facilitate perfection to Governor's Consent).
- Land Value: ₦1,700,000,000.
- Price per SQM: ₦850,000.
- JV Structure: 50/50 profit sharing between landowner and developer.
- Proposal: Blocks of Luxury Flats -- designed for maximum ROI in this prime location.
- Status: Bare land, ready for immediate development.
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Key Highlights
- Prime Lekki Foreshore Location: One of Lekki Phase 1's most exclusive neighborhoods, offering quiet, secure living with easy access to Freedom Way, Chevron, Victoria Island, and the Lekki-Epe Expressway.
- Substantial Scale: 2,000 SQM provides excellent flexibility for a landmark residential development -- rare in this established locale.
- Developer-Friendly Terms: 50/50 sharing with land valued at ₦850,000/SQM offers attractive economics for a well-executed luxury flat project.
- Clear Proposal: Landowner is open to blocks of luxury flats -- a proven product type in this high-demand rental and sales market.
- Strong Title Pathway: Deed of Assignment provides a clear path to Governor's Consent -- a standard process that enhances bankability.
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️ Development Potential -- Blocks of Luxury Flats
2,000 SQM in Lekki Foreshore is ideal for:
- Luxury Apartment Block: 15--20 high-end flats across 4--5 floors.
- Unit Mix Potential:
- 2-Bedroom Flats
- 3-Bedroom Flats (duplex-style or single-level)
- Select Penthouses on top floor
- Amenities: Secure parking, gym, concierge, landscaped courtyard.
- Target Market: Young professionals, expatriates, corporate tenants, and downsizing executives seeking luxury rental accommodation in a prime Lekki location.
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JV Structure & Market Context
Component Details
Land Contribution 2,000 SQM (valued at ₦1.7B)
Developer Role 100% construction funding
Sharing Ratio 50/50 of completed units/sales
Title Status Deed of Assignment -- developer to perfect to Gov's Consent
Per SQM Valuation ₦850,000
Proposed Development Blocks of Luxury Flats
- Per SQM Benchmark: Lekki Foreshore land with good title typically ranges from ₦800,000--₦1.1M/SQM. At ₦850,000/SQM valuation, this offers a fair entry point for a JV partnership.
- JV Appeal: 50/50 is a balanced split in this micro-market, incentivizing quality development while rewarding landowner contribution.
- Rental & Sales Demand: Lekki Foreshore commands premium rents and sales prices due to its exclusivity and proximity to key employment hubs.
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Next Steps for Interested Developers
1. Letter of Intent (LOI) -- Express interest and capacity.
2. Company Profile -- Demonstrate track record in luxury flat developments.
3. Proof of Funds -- Evidence of construction financing capability.
4. Site Inspection -- Physical viewing of the property.
5. Development Proposal -- Detailed concept, unit mix, floor plans, financial projections.
6. Meeting with Owner -- Direct negotiation and JV finalization.
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Ideal For: Established developers seeking a well-located JV opportunity in Lekki Phase 1's most desirable residential enclave, with a clear focus on luxury flat development.
A fresh 50/50 JV mandate on 2,000 SQM in Lekki Foreshore -- ready for serious engagement from capable developers.
Property Details
| Property Ref: 3365801 | Last Updated: 01 Mar 2026 | Market Status: Available |
| Type: Residential Land |
Interesting Facts
Who'd have guessed that Lekki Phase 1, one of Lagos' most luxurious neighbourhoods, was formerly a slum?
Leisure and Shopping
There are several types of shopping malls in Lekki Phase 1 if you want to go shopping. Restaurants, game centres, retail boutiques, cinemas, and other amenities are available at some malls.
Popular Estates
Lekki Phase 1 is a prime location for luxury estates because it is a well-planned residential government scheme. There are a number of private estates within its walls. Almost all of them are gated to ensure the safety of their occupants.
Day Life
Due to Lekki's affluent residents, the area has a lot of social hotspots. Weekends are usually jam-packed with visitors from all over who want to unwind after a long week at work. If you're looking to have a great time in Lekki Phase 1, you're definitely covered.
Night Life
Do you want to chill with the ‘Lekki Big Boys & Girls’? Then go nighttime exploring in Lekki Phase 1. Lagos is known as the city that never sleeps, and the residents of Lekki understand the assignment. They are always willing to show up at the local bars and clubs.
Schools
Aside from entertainment and recreation, Lekki Phase 1 provides quality education to its residents. It is home to some of Lagos State's most prestigious schools.
Read the full area guide for Lekki Phase 1, Lekki, Lagos.
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