4,389 SQM Residential Land

Property Highlights 4,389 SQM development site Downtown Zone, Eko Atlantic City Victoria Island, Lagos Governor's Consent stated Proposed 2-block high-rise development Minimum 35 floors per block stated US$3,200 per SQM land value basis Premium stated as nil 30/70 sharing ratio stated Facilitators' fee of 10% Why This Property Deserves Attention The scale of the landholding and proposed high-rise configuration make this an opportunity that requires an institutional-style approach to due diligence. A 4,389 SQM site intended for two high-rise blocks involves more than the acquisition of development land. The prospective development partner would need to understand the planning framework, permitted gross floor area, allowable height, setbacks, parking requirements, infrastructure obligations, construction methodology and overall project economics. The proposed 30/70 sharing ratio is also a key commercial component. Before signing, both parties should have a clear understanding of exactly what the percentages represent and how development costs, proceeds, units, responsibilities and liabilities will be allocated. Development Perspective The stated proposal is for two blocks of a minimum of 35 floors. This should be treated as a development proposal until independently confirmed through the relevant planning and estate authorities. Before committing capital, the development partner should establish: Permitted land use Approved development density Maximum allowable height Gross floor area permitted Setback requirements Parking requirements Infrastructure obligations Environmental requirements Building approval requirements Fire and life-safety requirements Utility requirements Construction and access conditions Applicable Eko Atlantic City development regulations A professional architect, planning consultant, quantity surveyor, structural engineer and other relevant specialists should assess the proposed scheme before financial commitments are made. Financial & JV Considerations The stated land value basis is: 4,389 SQM × us$3,200/sqm = US$14,044,800 This represents the stated land value basis before considering other transaction, professional, development or financing costs. The proposed 30/70 sharing ratio should not be evaluated in isolation. A proper feasibility study should determine the total development cost and establish how the parties' contributions compare with their respective shares. The JV agreement should clearly address: Land contribution Equity contribution Construction financing Professional fees Statutory charges Development costs Marketing and sales responsibilities Unit allocation or revenue sharing Project management Decision-making rights Cost overruns Completion obligations Default provisions Dispute resolution Exit arrangements Transfer or assignment rights The stated 10% facilitators' fee should also be clearly documented, including who is responsible for payment, when it becomes payable and whether it is calculated on the land value, transaction value or another agreed basis. Investor / Development Partner Note Before entering into this JV, prospective partners should independently verify: Title --- Confirm the Governor's Consent and the landowner's legal interest. Land Area --- Verify the 4,389 SQM measurement through an approved survey. Development Rights --- Confirm the actual development potential of the site. Proposed Height --- Independently verify whether the proposed minimum 35 floors per block is permissible. Financial Feasibility --- Commission a professional development appraisal. Construction Costs --- Obtain current professional estimates. Market Demand --- Assess the target residential, commercial or mixed-use market, depending on the approved use. JV Structure --- Ensure the 30/70 arrangement is fully defined contractually. Fees --- Clarify the 10% facilitators' fee and all other transaction costs. Funding --- Confirm the funding capacity and financial obligations of all parties. Documentation The title is stated as Governor's Consent. This should be independently verified through appropriate legal and governmental channels. All title documents, survey plans, development approvals, planning information and JV documentation should be reviewed by qualified professionals before any binding commitment. Property Intelligence Beyond the Listing For a high-rise JV, the most important question is not simply the size of the land or the proposed number of floors. The central issue is whether the proposed development can be legally approved, technically delivered and financially justified under the agreed JV structure. The development partner should therefore obtain a detailed feasibility study before committing to the project. This should connect the land contribution, development rights, construction costs, financing structure, expected sales or income, project timeline and proposed sharing arrangement. Any proposed development parameters should remain subject to confirmation by the relevant authorities and the applicable development framework of Eko Atlantic City. Land Value Basis US$3,200 per SQM Indicative Land Value Basis: US$14,044,800 Premium: Nil --- stated Sharing Ratio: 30/70 --- stated Facilitators' Fee: 10% For Enquiries Call / WhatsApp: +234 907 301 3359 Website: www.zaharihub.com Zahari Properties ...Points in the right direction. Disclaimer: Development parameters, title status, land value, sharing ratio, premium and facilitators' fee are based on information provided for this listing. Prospective JV partners should independently verify ownership, title, development rights, planning approvals, permitted height, financial obligations, project feasibility and all commercial terms before entering into any agreement or making financial commitments.