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Smilebay Realties Limited

Smilebay Realties Limited

Chevron Dr 4, FL 2 Lekki, Lagos, Nigeria
10 years on Nigeria Property Centre smilebay.estateagentsng.com
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39 Active
35 For sale
1 For rent
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3 Areas

Areas covered

3 areas

Lekki 19 Ikoyi 11 Victoria Island (VI) 9

Listings

1–3 of 3

All For sale For rent Short let JV
3, 932 SQMS Mixed Use Land
Premium
1
₦15,728,000,000

Mixed-use land joint venture

3, 932 SQMS Mixed Use Land

Glover Road, Ikoyi. 3,932 SQM. Joint Venture. Planning Approved. Piling Already Completed. ₦4,000,000/SQM. No Premium. This Is Not Raw Land. This Is a Site That Has Already Cleared the Slowest Part of the Process. The problem There is a category of Lagos high-rise development conversation that most JV listings never actually reach --- the stage where planning approval is secured and the foundation work has already started. Most JV land offered to developers in Ikoyi is still theoretical. Survey pending. Approval pending. Premium undisclosed until a contractor has already spent weeks in negotiation. The genuine bottleneck for a high-rise contractor isn't finding land in Ikoyi --- it's finding land where the 12-to-18-month approval cycle has already been absorbed by someone else, and where the ground has already been tested and piled. This listing is that site. 3,932sqm on Glover Road, Ikoyi. Lagos C of O. Planning already approved for a 17-floor block of flats. Piling already completed. No premium attached to the land value. The question for a serious high-rise contractor isn't whether Ikoyi land is worth developing. It's whether this specific site --- already de-risked at the two stages that kill most JV timelines --- is worth committing to before another contractor closes it. The agitation Here is what the comparable market shows right now. A near-identical 3,900sqm parcel elsewhere in Ikoyi, also carrying an approved 17-storey high-rise development, is currently listed at ₦15,600,000,000 --- effectively the same size, the same approval status, priced at roughly ₦4M/sqm once premium and terms are factored in. A separate comparable, also close to 3,932sqm in a high-profile Ikoyi location, has been marketed as "closeable" at ₦15,728,000,000. This listing --- 3,932sqm at ₦4,000,000/sqm, no premium --- works out to approximately ₦15,728,000,000 in total land value, placing it directly inside the range both comparables above are asking for. The difference is what this listing has that a purely land-value comparison doesn't show: piling is already completed. On a 17-floor high-rise, piling is not a minor milestone --- it's the geotechnical and structural foundation work that typically consumes months of a project timeline and carries real risk if soil conditions turn out to be difficult. That risk has already been absorbed here. Every month a qualified high-rise contractor spends evaluating a still-theoretical JV elsewhere in Ikoyi is a month this site's timeline advantage compounds. Approval delays are the single most common reason Lagos high-rise JVs stall before a foundation is even poured. This one has already cleared that stage. The solution 3,932 square metres, mixed-use land, Glover Road, Ikoyi. Lagos State Certificate of Occupancy. ₦4,000,000 per sqm, no premium. Planning approved for a 17-floor block of flats. Piling completed. Survey available. Here is what each element actually delivers to the contractor evaluating this deal: Planning approval already secured. The single longest and most unpredictable phase of a Lagos high-rise JV --- Lagos State Physical Planning Permit approval for a 17-floor structure --- has already been obtained. A contractor stepping into this deal is not waiting 12-18 months before construction can legally begin. They are stepping in at the construction phase. Piling already completed. The geotechnical risk on a 17-floor structure is real and expensive to get wrong. Piling completion means the foundation engineering has already been tested against the actual soil conditions on this specific site --- not modeled from a neighbouring parcel's data. This removes a major source of budget and timeline uncertainty before the JV contract is even signed. No premium. The land value is the land value --- ₦4,000,000/sqm, disclosed upfront. No separate negotiation over a premium figure layered on top after due diligence has already consumed time and cost. Glover Road, Ikoyi. A residential and mixed-use street inside the same Ikoyi core that includes Bourdillon, Alexander, and Awolowo Road --- established infrastructure, established demand, not a developing axis with unproven absorption. Lagos State C of O, survey available. Title documentation ready for immediate solicitor review --- a straightforward due diligence process rather than a title chain requiring reconstruction. Why this beats the alternative JV sites currently on the market. The two closest comparable parcels --- both around 3,900sqm with a 17-storey approval --- are asking a similar or higher total land value without disclosing whether piling has been completed. A contractor evaluating those sites is still pricing in the foundation-stage risk this listing has already removed. At the same approximate land value, this is the site with less remaining execution risk. The call to action 3,932sqm. Glover Road, Ikoyi. ₦4,000,000/sqm. No premium. Approved 17-floor block of flats. Piling completed. This is not an offer for a corporate professional looking to buy a home. This is a JV slot for a high-rise contractor or developer with proven capacity to take a piled, approved site to completion. Call or WhatsApp Smilebay Realties: +234 901 517 4801. Serious high-rise contractors only. Survey and approval documentation available for immediate review. The approval is already granted. The piling is already done. The part of this project that usually takes a year has already happened. Land Type: Mixed-use Land --- Joint Venture Size: 3,932 sqm Land Value: ₦4,000,000/sqm (estimated market rate) Premium: Nil Title: Lagos State Certificate of Occupancy (C of O) Survey: Available Owner's Development Preference: 17-floor block of flats Planning Approval: Approved Current Status: Piling completed Contractors Preferred: Experienced high-rise contractors Agency Fee: 10% Location: Glover Road, Ikoyi, Lagos NPC Comparable Context: 3,900sqm parcel, Ikoyi, approved 17-storey high-rise --- ₦15,600,000,000 Closeable ~3,932sqm parcel, high-profile Ikoyi location --- ₦15,728,000,000 This listing: 3,932sqm, Glover Road, Ikoyi, approved + piled --- approx. ₦15,728,000,000 (₦4,000,000/sqm, no premium) Posted: 25 July 2026 Listed by: Smilebay Realties Limited --- Ref: #358-895-3

Glover Road Ikoyi, Ikoyi, Lagos Added today
1400 SQMS Land
Premium
1
₦6,500,000,000

Residential land joint venture

1400 SQMS Land

Banana Island, Ikoyi. 1,400 SQM. Joint Venture. ₦6,500,000,000 Land Value. ₦1,000,000,000 Premium. Federal Certificate of Occupancy. This Is Not a Home for a Renter to Buy. This Is the Plot a Developer Has Been Waiting For. The problem There is a category of Lagos real estate conversation that has nothing to do with escaping a landlord --- and this listing sits squarely inside it. Most JV opportunities marketed as "Banana Island" turn out to be undersized, poorly titled, or attached to a landowner whose sharing terms make the arithmetic unworkable before a single foundation is poured. Developers who have spent years circling this island for a genuine build slot know the actual bottleneck isn't capital. It's finding 1,400sqm, Federal C of O, on the island itself, from an owner who has already stated what they want built. This listing removes that bottleneck. The owner has already specified the outcome: a block of luxury flats, or luxury terrace houses with a penthouse. The title is Federal C of O --- the cleanest instrument available on this island. The land size is large enough to support a real development footprint, not a compressed one. The question isn't whether Banana Island is the correct address for a luxury residential development. It's whether this specific parcel, at this specific value, is the one worth committing construction capacity to before another developer does. The agitation Here is what the numbers on Banana Island JV land actually show right now. Recent comparable JV parcels on the island have valued land anywhere from roughly ₦850,000/sqm on older-dated listings up to ₦2.1M/sqm, ₦4M/sqm, and ₦5M/sqm on more recent 2026-dated JV offers --- a spread that reflects waterfront position, zoning, and how recently the parcel was valued. A 1,500sqm JV parcel currently listed elsewhere on the island values land at ₦5M/sqm for a total of ₦7.5B, proposing a mixed low-rise-to-penthouse structure comparable in ambition to what this owner is requesting. This listing --- 1,400sqm, ₦6.5B land value, ₦1B premium --- works out to approximately ₦4.64M per sqm before the premium is factored in. That places it inside the current Banana Island JV range, priced below the ₦5M/sqm comparable cited above, on a parcel large enough to support either of the two development formats the owner has already approved. The scarcity is not abstract. Banana Island's land supply for JV-ready parcels with Federal C of O --- as opposed to Lagos State C of O, or land still working through title perfection --- has been consistently limited, which is precisely why the JV structure exists at all: the owners holding this land are not selling it outright, and they are not releasing it to just any developer. Every month a qualified developer defers engaging this specific parcel, the risk isn't that the price falls. It's that another development partner with proof of capacity closes it first. The solution 1,400 square metres of residential land, Banana Island, Ikoyi. Federal Certificate of Occupancy. ₦6,500,000,000 land value. ₦1,000,000,000 premium. Owner-approved development path: a block of luxury flats, or luxury terrace houses with a penthouse. Here is what this parcel actually delivers to the developer who can close it: Federal Certificate of Occupancy. The strongest individual title instrument available under Nigerian land law, superior in registration standing to a Lagos State-issued C of O or a Deed of Assignment awaiting Governor's Consent. For a developer financing construction against this land, or presenting to institutional co-investors, a Federal C of O removes the single biggest source of delay and legal risk in a Lagos JV --- title uncertainty. 1,400sqm on Banana Island itself. Not an adjacent axis, not a "Banana Island-adjacent" address used loosely by other listings. This is land on the island the entire luxury Lagos market treats as the ceiling reference point --- the address every other Ikoyi and VI comparable gets measured against, not the reverse. Owner-defined development brief. The owner is not asking a developer to guess what will be approved. Luxury flats, or luxury terrace houses with a penthouse, are already the stated preference --- which shortens the negotiation phase considerably compared to a JV where design intent is still undefined. ₦6.5B land value against a market range of ₦4M--₦5M/sqm on comparable 2026 JV parcels. At approximately ₦4.64M/sqm, this parcel sits inside --- and below the top of --- the current range for genuine Banana Island JV land, before any premium negotiation. ₦1B premium. Disclosed upfront, not buried in a facilitator's fee structure discovered mid-negotiation. A developer evaluating this deal knows the full cost basis before committing time to due diligence. Why this beats the alternative JV parcels currently circulating. Several Banana Island JV listings on the market right now carry ambiguous or undisclosed premiums, Lagos State C of O rather than Federal, or land sizes too small to support anything beyond a compressed low-rise. This parcel discloses its premium, holds the stronger title, and sits at a size that supports a genuine luxury block or terrace-with-penthouse format --- the exact profile that has driven the strongest resale and rental yields on the island over the past several years. The call to action 1,400sqm. Banana Island, Ikoyi. Federal C of O. ₦6,500,000,000 land value. ₦1,000,000,000 premium. Development path: luxury flats or luxury terrace houses with penthouse. This is not an offer for a corporate professional looking to stop renting. This is a JV slot for a developer, construction firm, or family office with the capacity to execute a Banana Island-grade build and the documentation to prove it. Call the agent, or send your company profile for survey review, via Smilebay Realties: +234 901 517 4801. Serious developers only. Proof of construction capacity required before terms are discussed. The island doesn't release land like this often. The title is already Federal C of O. The brief is already written. The developer who closes it hasn't been decided yet. Land Type: Residential Land --- Joint Venture Size: 1,400 sqm Land Value: ₦6,500,000,000 Premium: ₦1,000,000,000 Title: Federal Certificate of Occupancy (C of O) Owner's Development Preference: Block of luxury flats, or luxury terrace houses with penthouse Security: Security/gateman Location: Banana Island, Ikoyi, Lagos NPC Comparable Context (Banana Island JV/land market, 2026): 1,500.23sqm JV parcel, Banana Island Estate --- ₦5,000,000/sqm (₦7.501B total) 2,300sqm JV parcel, Banana Island (mixed zone) --- ₦4,000,000/sqm + ₦300M premium 1,900sqm JV parcel, Banana Island (corner piece) --- ₦2,100,000/sqm This listing: 1,400sqm, Banana Island --- approx. ₦4,640,000/sqm + ₦1B premium Posted: 24 July 2026 Listed by: Smilebay Realties Limited --- Ref: #358-722-7

Banana Island, Ikoyi, Lagos
2, 000 SQM JV Land Parcel B,
Premium
2
₦1,800,000,000

Residential land joint venture

2, 000 SQM JV Land Parcel B,

You Know What Lekki Foreshore Has Done to Property Values Over the Last 2 years? The Question Is Whether You Were On the Right Side of That Trade? The problem There is a very specific feeling that hits a certain type of Lagos professional in a very specific moment. It happens when you're at a dinner --- maybe a colleague's housewarming, maybe a client lunch at a rooftop in Lekki Phase 1 --- and someone mentions what they paid for their plot three years ago. And then mentions what it's worth today. The number is not modest. You smile. You calculate quietly. You file it under "I should have moved on that." This is not a singular moment. It has happened to you --- or someone exactly like you --- multiple times in the last ten years, on the Chevron corridor, on Eko Atlantic, on Old Ikoyi, and now, systematically, in Lekki Foreshore. The people sitting on the gains are not smarter than you. They did not have better information. They had one thing: they acted when the play was visible and the entry was still accessible. That window is narrowing in Lekki Foreshore. But it has not closed. The agitation Here is the uncomfortable arithmetic of inaction. Lekki Foreshore Estate, Lekki Phase 1, is not an emerging area. It is not a bet on a corridor that might develop. It is a functioning, gated, high-demand estate with direct access to Admiralty Way --- one of Lekki's primary arterial roads --- and a second access gate that keeps it insulated from the chaos of the main expressway. Infrastructure is built. Roads are new. The estate is already in high demand and under-supplied. Land in this estate is not being manufactured. The parcels are finite. And the developers who spotted this early have already built, sold, and moved on to their next project --- taking their profit with them. What remains is exactly this: a 2,000 square metre plot in Parcel B. Ground floor plus three storeys of buildable height. The kind of footprint that in this location translates directly to a multi-unit residential development --- the type that, sold or let at current Lekki Phase 1 rates, produces returns that make most other asset classes look sluggish. Every month this plot sits unleveraged is a month of compounding that does not happen for you. Every month a developer who sees this clearly instead of you gets to structure the deal, build the project, and take the upside. The land does not wait for anyone. Neither does the right partner. The solution This is a Joint Venture proposition. The landowner brings the asset: 2,000 sqm of titled residential land, Parcel B, Lekki Foreshore Estate, Lekki Phase 1. The location is established. The road network is newly built. The two-gate access --- one directly to Admiralty Way --- means the estate has both security and connectivity. This is not off-plan aspiration. This is a real, titled plot in a functioning, high-demand estate. You bring the development capital and construction capability. The structure is clean: JV Premium: ₦50,000,000. This is your entry --- the consideration paid to the landowner to secure the joint venture partnership on this plot. Sharing Formula: 50/50. Half of whatever you build is yours --- whether you sell, let, or hold. On a 2,000 sqm plot at G+3 in Lekki Phase 1, the built-out value on exit is not speculative. Properties in this estate and this corridor are transacting. The comps exist. The demand is documented. Now do the maths on your half. Here is what the deal structure actually means in practice for a developer with the right construction cost basis: You build a G+3 residential block on 2,000sqm in Lekki Phase 1. You take 50% of the units. You sell or let at prevailing Lekki Phase 1 rates --- rates that have appreciated consistently through every macro cycle Lagos has absorbed in the last fifteen years, including devaluations and global slowdowns. Your ₦50 million JV entry unlocks a land position that, acquired outright, costs ₦1.8 billion. You are not buying the land. You are partnering on it --- and taking half the product that comes off it. That is the structure. Access is immediate. Two gates into the estate. Admiralty Way connectivity. The buildout can begin as soon as the JV agreement is executed and the premium is paid. The title documentation is available for due diligence. This is not a verbal arrangement or a handshake deal dressed in a property listing. The legal framework is in place. Your solicitor can review it before you commit anything. The call to action This is not a listing for someone who needs to think about it for three months. The ₦50 million JV premium to secure a 50% stake on 2,000sqm in Lekki Foreshore --- with the road network built, the estate in high demand, and direct Admiralty Way access --- is not priced to sit. A developer who runs these numbers once knows what this means. A high-net-worth individual looking to diversify from financial assets into Lagos real estate knows what this corridor has historically done. If you are a developer with active capacity, an investor with capital seeking a structured Lagos land play, or a corporate professional who has been meaning to enter the real estate development space with the right partner and the right asset --- this is a direct conversation. Call or WhatsApp Smilebay Realties: +234 901 517 4801 Come with your questions. Bring your solicitor. Run your numbers. Because the professionals who built wealth in Lekki Phase 1 over the last decade did not do it by being slow when a clear opportunity was in front of them. Joint Venture 2,000 sqm Residential Land Parcel B, Lekki Foreshore Estate, Lekki Phase 1, Lagos Land Value: ₦1,800,000,000 JV Premium: ₦50,000,000 Sharing Formula: 50/50 G+3 (Ground Floor + 3) Dual Gate Access Admiralty Way Connectivity Rapid Value Appreciation Corridor Listed by Smilebay Realties Limited Ref: 3486392

Lekki Foreshore Estate, Lekki Phase 1, Lekki, Lagos

About Smilebay Realties Limited

Mission statement It is from the extensive research undertaken from our firm that we have mapped out strategies to eradicate the previous modus operandi of real estate agencies in Nigeria as well as the challenges faced by developers, buyers and investors in real estate. Vision It's within our vision, the eradication of the non-professional model of estate management and sharing a more innovative and trendy strategy that suits clients of the internet age. It is out of our unique experience in the real estate market that we decided to become a buyer based real estate listing website where buyers can get directly connected to real estate developers and sellers without going through chains of real estate agents who do not have intention behind their agency services. We decided to build a brand from the mistakes of our competitors to suit real estate buyers who need direct communication with the developer/seller of the property a potential buyer is interested in. We have had over 12 years of solid experience with buyers and sellers here in Nigeria and we have a deep client base of real estate developers who build and sell brand new homes here in Nigeria. Our staff base is mostly IT consultants who understand the art of selling goods and services over the internet with internet lead generation systems as much as we have staff who do the leg work and physical scouting of properties from real estate developers and sellers willing to list with us. We also have the foundational staff who are educationally qualified in real estate and financial education which ensures that clients make the best financial decisions. Smilebay Realties Limited is a real estate firm that engages in the business of real estate here in Nigeria. We are commissioned agents that directly connect real estate buyers to real estate developers and sellers in Nigeria. We ensure that our clients are able to find and successfully purchase their genuine dream home without long chains of real estate agents. Smilebay Realties Limited is a registered company with cac, RC: 1080825 and we are legitimately positioned to help buyers and sellers make their real estate transactions successful. Our clients Real estate buyers. Real estate developers/sellers. Short let property owners (vacation homes) Vacation homes guests.
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