1,500.23 Sqm Joint Venture

Exclusive Joint Venture Opportunity -- Prime Land on Banana Island, Ikoyi, Lagos
1,500.23 SQM Land Value: ₦5M per SQM Proposed: Luxury High-Rise Development 50:50 Sharing Facilitator's Fee: 10%

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Property & JV Overview

- Location: Banana Island Estate, Ikoyi, Lagos -- Africa's most exclusive residential enclave.
- Land Size: 1,500.23 SQM.
- Title: To be verified (C of O / Governor's Consent expected for Banana Island).
- Land Value: ₦5,000,000 per SQM.
- Total Land Value: Banana Island Estate, Ikoyi, Lagos (≈ ₦7.5 Billion).
- Premium: To be discussed (payable upon JV contract signing).
- Proposed Development: Luxury high-rise with the following configuration:
- 1st & 2nd floors: Car park.
- 3rd, 4th & 5th floors: Block of luxury apartments.
- 6th & 7th floors: 4 units of 4‑bedroom maisonettes.
- 8th floor: 2 units of penthouse.
- JV Sharing Formula: 50:50 (landowner : developer).
- Facilitator's Fee: 10% of land value (≈ ₦750 Million), payable upon JV agreement.

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Key Highlights

- Banana Island Address -- Ultimate Prestige: The most sought‑after residential address in Nigeria -- home to billionaires, diplomats, and top executives. Unparalleled security, underground utilities, and waterfront living.
- Prime Land Value: At ₦5M per SQM, this reflects the scarcity and premium of titled land on Banana Island -- a sound investment with strong appreciation potential.
- Clear Development Proposal: A defined 8‑floor luxury scheme with parking, apartments, maisonettes, and penthouses -- providing a ready‑made vision for developers.
- 50:50 Equal Partnership: Transparent and balanced sharing structure aligns the interests of landowner and developer.
- Global Market Appeal: Properties on Banana Island attract international buyers and investors -- ensuring strong sales and rental demand.

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️ Proposed Development -- 8 Floors of Luxury Living

Floor(s) Use Details
1st & 2nd Car Park Multi‑level parking for residents and guests.
3rd, 4th & 5th Luxury Apartments Block of high‑spec flats (unit mix to be finalised).
6th & 7th Maisonettes 4 units of 4‑bedroom duplex apartments.
8th Penthouses 2 units of ultra‑luxury penthouses with private terraces.

Additional Options: The developer may propose alternative configurations (e.g., more floors, mixed‑use, branded residences) -- subject to landowner approval and planning consent.

Target Market: Ultra‑high‑net‑worth individuals, corporate executives, expatriates, and luxury investors.

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Location Benefits -- Banana Island, Ikoyi

- Unmatched Prestige & Security: 24/7 estate security, underground utilities, paved roads, and waterfront views.
- Proximity to Business Hubs: Minutes from Ikoyi, Victoria Island, and Eko Atlantic.
- High Demand, Low Supply: New developments on Banana Island are exceptionally rare -- ensuring strong pre‑sales and rental interest.
- World‑Class Infrastructure: Reliable power, water, drainage, and estate management.

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Financial Structure

- Land Contribution Value: ₦7.5 Billion.
- Premium: To be discussed (payable upon JV contract signing).
- Developer's Role: Provide 100% of construction financing, bank guarantee, project management, and sales/letting.
- Profit Sharing: 50% Landowner / 50% Developer -- after recovery of agreed development costs.
- Facilitator's Fee: 10% of land value (≈ ₦750 Million), typically paid from the landowner's share upon JV execution.

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Transaction Requirements for Interested Developers

This opportunity is strictly for capable, credible, and competent developers. Proof of capacity is required.

Interested developers must submit:

1. Letter of Intent (LOI) -- confirming interest and acceptance of the 50:50 sharing structure.
2. Company Profile -- with verifiable evidence of luxury high‑rise projects (8+ floors) completed on Banana Island, Ikoyi, or Victoria Island.
3. Proof of Funds -- bank statements or financing letters showing capacity for a project of this scale (estimated construction cost ₦10B--₦20B+).
4. Bank Guarantee -- ability to provide a performance guarantee as required.
5. Preliminary Concept Note -- initial design and timeline aligned with the proposed 8‑floor development or alternative vision.

Due Diligence:

- Upon signing an NDA and facilitator fee agreement, the facilitator will provide title documents, survey, and arrange a site inspection.

Ideal Partner Profile:

- A top‑tier real estate development firm with a proven track record in ultra‑luxury high‑rises on Banana Island or Ikoyi.
- Strong financial capacity and access to construction finance.
- Experience with high‑end residential developments targeting the global luxury market.

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Banana Island JV -- 50:50, 1,500 SQM, ₦5M/SQM, luxury high‑rise. A landmark opportunity for developers with proven capacity and vision.
Strictly for serious, qualified developers -- direct engagement only.