Residential land joint venture
Ajose Street, Mende, Maryland, Lagos
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.
abi sod...
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₦20,000,000
Kerantol Limited
+2347076888085