₦7,200,000,000
Residential land joint venture
1600 SQM Joint Venture
Joint Venture Opportunity -- Off Femi Okunu, Lekki/VI Corridor, Lagos 1,600 SQM Federal C of O Land Value: ₦4.5M per SQM Proposed: 16 Floors, 24 Luxury Units Premium: ₦300M Equal Sharing (50:50) --- Property & JV Overview - Location: Off Femi Okunu Road, Lagos (prime Lekki Phase 1 - Land Size: 1,600 SQM. - Title: Federal Certificate of Occupancy (C of O). - Land Value: ₦4,500,000 per SQM. - Total Land Value: ₦7,200,000,000. - Premium: ₦300,000,000 (payable upon JV contract signing). - Proposed Development: 16 floors comprising 24 luxury units: - 8 units of 2‑bedroom flats - 10 units of 3‑bedroom flats - 4 units of 4‑bedroom (entire floor each) - 2 units of 5‑bedroom duplex penthouses - JV Sharing Formula: Equal (50:50) -- landowner : developer. - Construction Timeline: To be negotiated (estimated 2--3 years). --- Key Highlights - Premium Location: Off Femi Okunu -- a highly desirable street in the Lekki‑VI axis, close to Admiralty Way, Eko Atlantic, and major commercial hubs. - Federal C of O: Strong title requiring verification through Federal Ministry of Lands -- a mark of solid ownership. - Ultra‑Luxury High‑Rise: 16 floors with only 24 units means spacious, exclusive apartments -- each floor has limited units, with entire floors dedicated to 4‑bed apartments. - Clear Unit Mix: Diverse offering from 2‑bed to full‑floor 4‑bed and duplex penthouses -- appeals to a wide spectrum of high‑net‑worth buyers/tenants. - Upfront Premium: ₦300M payable at contract signing -- ensures serious, well‑capitalized developers. - Transparent 50:50 Partnership: Aligns interests for a balanced, profitable collaboration. --- ️ Proposed Development -- 16 Floors, 24 Units Floor(s) Unit Type Quantity Lower floors (e.g., 1--4) 2‑Bedroom flats 8 Mid floors (e.g., 5--9) 3‑Bedroom flats 10 Upper floors (10--13) 4‑Bedroom (entire floor) 4 Top floors (14--15) 5‑Bed Duplex Penthouse 2 Ground floor Lobby, parking, gym, pool, amenities -- 16th floor Rooftop lounge / garden -- Unit breakdown: 8+10+4+2 = 24 units. Target Market: Ultra‑high‑net‑worth individuals, corporate executives, expatriates, and luxury investors. --- Location Benefits -- Off Femi Okunu - Strategic Lekki/VI Corridor: Minutes from Admiralty Way, Ahmadu Bello Way, and the Eko Atlantic entrance. - Secure & Serene: Quiet street with excellent road network, drainage, and proximity to security posts. - Established Neighbourhood: Surrounded by luxury estates, banks, international schools, hotels, and embassies. - High Demand: Limited supply of new luxury high‑rise developments in this micro‑location ensures strong pre‑sales and rental interest. --- Financial Structure - Land Contribution Value: ₦7.2 Billion. - Premium (Upfront): ₦300 Million -- payable to landowner immediately upon signing the JV contract. - Developer's Contribution: 100% of construction financing, bank guarantee, project management, and sales/letting. - Profit Sharing: 50% Landowner / 50% Developer -- after recovery of agreed development costs. - Effective Landowner Consideration: Land value (₦7.2B) + premium (₦300M) = ₦7.5B equivalent, factored into the 50:50 split. --- Next Steps for Qualified Developers Interested developers must accept the terms (premium, 50:50 sharing, Federal title) as non‑negotiable. Submit: 1. Letter of Intent (LOI) -- confirming acceptance of all terms. 2. Company Profile -- with verifiable evidence of luxury high‑rise (12+ floors) projects in Lekki, VI, or Ikoyi. 3. Proof of Funds -- bank statements or financing letters showing capacity for a project of this scale (construction cost estimated ₦15B--₦25B+). 4. Bank Guarantee -- ability to provide a performance guarantee as required by landowner. 5. Preliminary Concept Note -- initial design and timeline aligning with the 16‑floor, 24‑unit specification. Due Diligence: - Upon signing an nda and agreeing terms, the facilitator will provide Federal C of O documents, survey plan, and arrange site inspection. - Title verification to be conducted through the Federal Ministry of Lands, Housing & Urban Development (Lagos or Abuja). Ideal Partner Profile: - Top‑tier real estate developer with proven record in luxury high‑rises (16+ floors). - Strong balance sheet and access to construction finance. - Experience with Federal C of O properties is advantageous. Clear terms. Prime location. Luxury high‑rise. 50:50 partnership. Serious developers only -- with proof of funds and track record.
