773SQM Land

Proposed Joint Venture Development -- Ajose Street, Maryland, Lagos

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Land Information

Location: a parcel of land measuring 773 sqm at Ajose Street, Maryland, Lagos.

Current Value: ₦200m.

Purpose: Open

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Developer Requirements

1. Premium:
Open to discussion (can be waved off, depending on how discussion goes)

2. Facilitator's Fee:

A Facilitator's Fee of 10% of land value is payable by the Developer to the Facilitator at agreement execution.

3. Proof of Funds:

Developer must provide documented evidence of financial capacity to fund the full construction within 24 months.

Acceptable proof: bank statements, financing offers, or audited accounts.

4. Project Scope:

Open to discussion

However. design and quality of construction must meet Lagos State Building Control Agency (LASBCA) standards.

Quality finishing (tiles, POP ceilings, standard kitchen/bathroom fittings, parking space).

5. Duration:

Maximum project duration: 24 months from commencement date.

6. Sharing Formula:

Upon completion, allocation of flats/units shall be shared as follows:

Landowner: 40%

Developer: 60%

Allocation details to be set out in the formal Joint Venture Agreement.

7. Title & Approvals:

Landowner guarantees valid title and assists with Governor's Consent.

Developer responsible for building plan approval, permits, and environmental compliance.

8. Insurance & Risk:

Developer shall insure the project against fire, building collapse, and third-party liability during construction.

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Expression of Interest Submission

Interested Developers should submit the following:

Company profile (CAC documents, track record of similar projects).

Proof of funds.

Proposed project design concept.

Confirmation of acceptance of Premium, Facilitator's Fee, and Sharing Formula.
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For more information visit kerantol.com

NB: In case you own a property and you want to sell, lease or rent it out or do a JV very fast, you can talk to us.