2,300; Sqm Joint Venture Fabac Close, Off Ligali Ayorinde Street, Vi

Joint Venture Development Opportunity -- Off Ligali Ayorinde Street, Victoria Island, Lagos
2,300 SQM Fabac Close Proposed: 10 Floors of 3-Bed Flats & Maisonettes Land Value: ₦7.5 Billion

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Property & JV Overview

- Location: Fabac Close, off Ligali Ayorinde Street, Victoria Island, Lagos.
- Land Size: 2,300 SQM.
- Title: To be verified (C of O / Governor's Consent expected for VI).
- Land Value: ₦7,500,000,000 (≈ ₦3.26M per SQM).
- Proposed Development: 10 floors comprising 3-bedroom flats and maisonettes with luxurious finishes.
- JV Structure: Landowner contributes land; developer provides 100% construction funding and expertise. Sharing ratio to be negotiated.
- Facilitator's Fee: 10% of land value (₦750M), payable upon JV agreement.

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Key Highlights

- Prime Victoria Island Address: Ligali Ayorinde Street is a prestigious, low‑density residential/commercial enclave in the heart of VI -- close to Eko Atlantic, banks, embassies, and five‑star hotels.
- High‑Rise Approval Potential: A 10‑floor proposition suggests favourable zoning and significant development density -- ideal for luxury living with skyline views.
- Luxury Unit Mix: 3‑bed flats and maisonettes target the high‑end market -- professionals, expatriates, and families seeking premium finishes and space.
- Selective Developer Criteria: Preference for experienced island‑focused developers who can provide physical evidence of past projects on Victoria Island, Ikoyi, or Banana Island.

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️ Development Vision

- A 10‑storey luxury residential tower (or twin block) comprising:
- High‑spec 3‑bedroom flats (en‑suite, living/dining, balcony).
- Maisonettes (duplex units within the building) offering additional privacy and space.
- Ground floor lobby, parking, gym, pool, and 24/7 security.
- Backup power, water treatment, and premium finishes throughout.

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Location Benefits (Ligali Ayorinde / Fabac Close)

- Heart of VI: Minutes from Ahmadu Bello Way, Ozumba Mbadiwe, and the Eko Atlantic entrance.
- Secure & Serene: A quiet close off a main street -- offers privacy while remaining central.
- High Demand Location: Luxury apartments in this micro‑location command top rental and sales values.
- Nearby Amenities: Eko Hotel, Landmark Village, banks, restaurants, international schools, and diplomatic missions.

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Financial Structure

- Land Contribution Value: ₦7.5 Billion.
- Developer's Role: Provide 100% of construction financing, project management, and sales/letting.
- Profit Sharing: To be negotiated based on land value vs. total development cost.
- Facilitator's Fee: 10% of land value (₦750M), typically due from the landowner's share upon JV execution.

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Submission Requirements for Interested Developers

Qualified developers must submit:

1. Letter of Intent (LOI) -- outlining interest and high‑level approach.
2. Company Profile -- including track record and physical evidence of past luxury projects on Victoria Island, Ikoyi, or Banana Island (addresses, photos, completion certificates).
3. Proof of Funds -- bank statements or facility letters showing capacity to finance a development of this scale.
4. Source of Funds -- documentation to satisfy anti‑money laundering and due diligence requirements.
5. Preliminary Concept Note -- initial thoughts on design, unit mix, timeline, and JV structure.

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️ Critical Notes

- Preference given to developers with verifiable island experience. No exceptions.
- Land title and ownership will be verified during due diligence after a signed NDA.
- Facilitator is mandated -- agency fee agreement required before full disclosure.

Ideal Partner: A reputable real estate development firm with a portfolio of luxury high‑rise projects in Lagos's prime postcodes.

This is a high‑value, high‑calibre JV opportunity. Serious, qualified developers only -- with proof ready.