Joint Venture Residential Land in Lagos

*vacant 2plots for joint venture at chief natufe street off babs animashaun, bode thomas surulere* jv opportunity -- surulere, lagos land size: 1,026sqm location: surulere, lagos title: certificate of occupancy (c of o) condition: requires piling current value: ₦650,000,000 jv sharing formula: 50 / 50 important notes: proof of funds is mandatory. the owner insists on no bank funding to avoid project delays. facilitator's fee: 10% of land va...

Jv in ikeja gra location: oduduwa way size 550sqm title lagos cofo value 1.8m/sqm premium tbd proposal: blocks of flats and the owner wants a penthouse sharing 50/50 facilitators fee 10% id ...

*bareland for joint venture* *location:*ikoyi lagos *land area:* approximately 4,750 square metres fenced round land value---n12b proposal--- open *title document:* good and marketable non negotiable 10% facilitators commiss...

Prime jv opportunity: unlock high-yield residential gold in booming sangotedo! location: fountain springville estate -- a prestigious, gated, and serene community along monastery road (shoprite road), sangotedo, lagos. just minutes from the thriving novare mall (shoprite), with seamless access to lekki-epe expressway and the expanding lekki growth corridor. land size: generous 1,140 sqm of prime, dry, titled land -- perfectly positioned for maximum development potential. jv structure: straightforward 50/50 profit-sharing -- landowner brings the asset, you bring the expertise and capital. no complicated chains, no delays. why this is a developer's dream project right now: explosive growth zone -- sangotedo is lagos' next big real estate hotspot, rapidly transforming with surging demand for quality housing driven by lekki free trade zone expansion, infrastructure upgrades, and proximity to high-net-worth areas. high rental & capital appreciation -- build blocks of flats, luxury terraces, or premium apartments here and tap into strong tenant demand from professionals and families seeking serene, secure living with excellent resale upside. estate advantages -- gated security (armed/unarmed), tranquil ambiance, good road network, and exclusivity -- developed by reputable hfp engineering (same pedigree as vgc) -- creating an upscale, family-oriented haven that's only partially built-up, with rising values. prime accessibility -- direct benefits from nearby shoprite/novare mall, schools, and commercial hubs -- residents enjoy convenience without the chaos of central lekki. proven market momentum -- land and property values in sangotedo are climbing fast -- early movers are seeing exceptional roi as the area evolves into a premium residential destination. this is not just land -- it's a ready-to-profit canvas in one of lagos' fastest-appreciating corridors. properties like this don't linger! serious, capable developers only -- ready to move fast and close quickly. 10% facilitator's fee applies (split between developer and landowner). call/whatsapp now to secure your spot before it's gone: 0809 285 9925 act today -- opportunities in prime sangotedo are vanishing quickly...

Hottest joint venture in ikota gra exclusive brief land size: 2,355 sqm land value: ₦1 billion ️ title: c of o proposed development: high-rise block , luxury block of flats or duplexes ....ideal for premium residential investors. sharing formula: tbd facilitator's fee: 10% location: ikota gra -- one of the fastest-rising luxury corridors in lekki. this jv offers prime visibility, massive roi potential, and top-tier demand, a perfect opportunity for serious developers ready to move fa...

Joint venture opportunity direct to the developers size: 1960 sqm title: global certificate of occupancy location : abraham adesanya, lekki, lagos 10% facilitators fee purpose: 15 terraces. concept has been drawn and approved. construction 5 of units is already underway. we require a top-notch and trustworthy developer to build or an investor to finance the remaining 10. each unit of terraces is going at 135m at the completion profit sharing ratio: 66...

*ilasan joint venture deal*. land size: block e3 measuring 975sqm with the building on fully vacant to be demolished. location:14/8, ayodele adeleye street ilasan ikate elegushi. proposal: 18-20 nos block of 2 bedrrom flats wth bq each. premium:30m land value; 700k per sqm net. title: purchase receipt, survey and family deed. sharing ratio: 60 developer 40 to property owner. brokerage fee:10% on land value serous enquiries only for a good developer with a good track record of developments. ...

Jv opportunity -- surulere, lagos land size: 1,026sqm location: surulere, lagos title: certificate of occupancy (c of o) condition: requires piling current value: ₦550,000,000 jv sharing formula: 50 / 50 important notes: proof of funds is mandatory. the owner insists on no bank funding to avoid project delays. facilitator's fee: 10% of land va...

Joint venture developers delight in lekki scheme 2... location: lekki scheme 2 land size: 1000sqms land value: 300m proposal: open to the best proposal with good roi premium: 30million refundable (asking) sharing formula: 55/45 facilitators fee : 10% note: _we can close asap owner is available. #...

Closable joint venture @ banana island, ikoyi, lagos land size 7,000 sqm waterfront land. title:- federal c of o price:n3.5m/sqm premium:-nill proposal: highrise building facilitators' fee:- 10% of total land value net. procedure lol, company profile, detailed project proposal, proof of funds for the project and facilitators' fee's letter. note the land is also available for sale, 2,000sqm minimum sellable. awdo...

Joint venture opportunity -- banana island, ikoyi, lagos 7,000 sqm waterfront land federal c of o ₦3.5 million per sqm no premium high-rise development proposal also available for sale (2,000 sqm minimum) --- property overview - location: banana island, ikoyi, lagos -- africa's most exclusive waterfront residential enclave, home to nigeria's elite and international dignitaries. - land size: 7,000 sqm (waterfront). - title: federal certificate of occupancy (c of o) -- the highest form of title security in nigeria. - price: ₦3,500,000 per sqm. - total land value: ₦24,500,000,000. - premium: nil -- no upfront payment to landowner for jv. - proposal: high-rise building -- capitalizing on waterfront views and banana island's prestige. - facilitator's fee: 10% of total land value (₦2.45 billion) -- net. - jv sharing ratio: to be negotiated (typically 50/50 or as agreed). - sale option: also available for outright purchase -- minimum 2,000 sqm. - status: prime waterfront land, verified and ready for serious engagement. --- key highlights - ultimate banana island waterfront: 7,000 sqm of prime waterfront land -- a once-in-a-generation offering in lagos's most prestigious address. - superior title security: federal c of o provides absolute ownership certainty -- bankable, transferable, and ready for jv financing. - massive scale: at 7,000 sqm, this is one of the largest available waterfront parcels on banana island -- suitable for a landmark high-rise development. - no premium entry: zero upfront payment to landowner significantly lowers the developer's initial capital requirement -- a highly attractive jv term. - high-rise potential: waterfront location demands a iconic high-rise design -- maximizing views, density, and returns. - dual option: jv partnership or outright purchase (minimum 2,000 sqm) -- flexibility for different investor profiles. - rare offering: waterfront land of this size with federal c of o is virtually extinct on banana island. --- ️ development potential -- high-rise waterfront 7,000 sqm waterfront land is ideal for: - luxury high-rise residential tower: 20--25 floors of premium apartments, penthouses, and amenities. - mixed-use iconic tower: residential + boutique hotel + retail/restaurant with panoramic water views. - ultra-luxury condominiums: 40--60 units targeting ultra-high-net-worth buyers. - amenities: swimming pool, gym, spa, concierge, secure parking, waterfront promenade. estimated built-up area: approx. 35,000--45,000 sqm (depending on design and floor plates). target market: ultra-high-net-worth nigerians, diaspora buyers, international investors, diplomatic corps. --- market context metric value land size 7,000 sqm per sqm price ₦3,500,000 total land value ₦24,500,000,000 market range (banana island) ₦3.5m--₦6m/sqm waterfront premium +30--50% over inland plots federal c of o highest title security - per sqm benchmark: at ₦3.5m/sqm, this waterfront land is competitively positioned within banana island's current market range (₦3.5m--₦6m/sqm depending on waterfront access and exact location). - waterfront scarcity: true waterfront plots on banana island are exceptionally rare and command significant premiums. - federal c of o advantage: federal title provides the highest level of security -- a key differentiator for institutional investors and international buyers. - development upside: a well-executed high-rise waterfront development could achieve gross development value (gdv) of ₦50b--₦80b+, depending on unit mix and market conditions at completion. --- ️ jv structure (typical) party contribution sharing (negotiable) landowner land (federal c of o, valued at ₦24.5b) 40--50% of completed units/sales developer 100% construction funding 50--60% of completed units/sales - facilitator's fee: 10% of total land value (₦2.45b) -- net, payable upon successful transaction closure. --- procedure for interested developers submit the following documents: 1. letter of intent (loi) -- formal expression of interest and capacity. 2. company profile -- track record in luxury high-rise developments. 3. detailed project proposal -- architectural vision, unit mix, floor plans, financial projections, timeline. 4. proof of funds -- evidence of construction financing capability (minimum ₦20b--₦30b project cost). 5. facilitator's fee letter -- acknowledgment and agreement of facilitator fee terms. --- sale option: the land is also available for outright purchase -- minimum 2,000 sqm. serious buyers can acquire a portion of this prime waterfront asset. --- ideal for: top-tier developers with proven experience in luxury high-rise, waterfront projects; institutional investors seeking a flagship banana island development; ultra-high-net-worth individuals wanting to acquire a piece of banana island's most exclusive waterfront. a landmark 7,000 sqm waterfront opportunity on banana island with federal c of o -- available for jv or sale. this is the pinnacle of nigerian real esta...

Joint venture development contract in akoka yaba lagos. newly out in the heart of akoka yaba, lagos. tunde bello estate akoka yaba proximity to unilag, fce and yabatech. is at yaba center where high demand is fast approaching... building specification: block of luxury flats land measuring 7064sqm. approximately 14plot by 500sqm per plot & 12plot by 600sqm. premium: no premium land value: 2.9b *facilitators' fee: 10% of the land value *sharing formula: to be discussed with the beneficiaries.* note : survey is available after loi, company profile and 10% letter for fee. the owner is still alive ️️️. its close to university of lagos, fce and yabatech. close to the akoka pako bust...

Quick joint venture: 650sqm at census close off bode thomas junction, surulere location: census close off babs animasaun land size: 650m² title: land certificate land value: n500m proposal: multiple luxury apartments. sharing ratio: tbd premium : n55m facilitator's fee: 10% of total land value. *videos: available on request* *survey plan: available on request* *inspection: call* *procedure* loi, company profile, detailed project proposal. proof of fu...

*joint venture at lekki phase 1* land size: 1,154.48sqm. title: lag ( cofo.& concent) land value: 1.8b proposal: good r. o. i. btw land owner and developer sharing formula: 50/ 50. facilitator's fees: 10%. survey available upon special request awd...

Joint venture opportunity -- lekki foreshore estate, lekki 1,026 sqm lagos c of o land value: ₦1 billion (₦974,658 per sqm) proposal: block of flats (g+3) 50/50 sharing ratio --- property overview - location: lekki foreshore estate, off freedom way, lekki phase 1, lagos -- a prestigious waterfront-adjacent residential enclave offering serenity, security, and proximity to lekki's best amenities. - land size: 1,026 sqm. - title: lagos state certificate of occupancy (c of o) -- the highest form of title security in nigeria. - land value: ₦1,000,000,000. - price per sqm: ₦974,658. - jv structure: 50/50 profit sharing between landowner and developer. - proposal: block of flats (ground + 3 floors) -- optimized for this prime location. - status: bare land, ready for immediate development. --- key highlights - prime lekki foreshore location: one of lekki phase 1's most exclusive neighborhoods, offering quiet, secure living with easy access to freedom way, chevron, victoria island, and the lekki-epe expressway. - superior title security: lagos c of o provides absolute ownership certainty -- bankable, transferable, and ready for jv financing without title perfection concerns. - optimal development scale: 1,026 sqm is perfectly sized for a g+3 block of flats -- maximizing density while maintaining quality and livability. - developer-friendly terms: 50/50 sharing with land valued at ₦974,658/sqm offers attractive economics for a well-executed flat project. - clear proposal: landowner is open to a block of flats -- a proven product type in this high-demand rental and sales market. --- ️ development potential -- block of flats (g+3) 1,026 sqm in lekki foreshore is ideal for: - luxury apartment block: ground + 3 floors of high-end flats. - estimated built-up area: approx. 3,000--3,500 sqm (depending on design and floor plates). - unit mix potential: - 2-bedroom flats - 3-bedroom flats (duplex-style or single-level) - select penthouses on top floor - estimated unit count: 12--18 luxury flats, depending on unit sizes and configuration. - amenities: secure parking, gym, concierge, landscaped courtyard. - target market: young professionals, expatriates, corporate tenants, and downsizing executives seeking luxury rental accommodation in a prime lekki location. --- jv structure & market context component details land contribution 1,026 sqm (valued at ₦1b) developer role 100% construction funding sharing ratio 50/50 of completed units/sales title status lagos c of o (perfected) per sqm valuation ₦974,658 proposed development block of flats (g+3) - per sqm benchmark: lekki foreshore land with c of o typically ranges from ₦900,000--₦1.2m/sqm. at ₦974,658/sqm valuation, this is competitively positioned. - title premium: lagos c of o provides maximum security and bankability -- a significant advantage over deed of assignment jvs. - jv appeal: 50/50 is a balanced split in this micro-market, incentivizing quality development while rewarding landowner contribution. - rental & sales demand: lekki foreshore commands premium rents and sales prices due to its exclusivity and proximity to key employment hubs. --- next steps for interested developers 1. letter of intent (loi) -- express interest and capacity. 2. company profile -- demonstrate track record in luxury flat developments. 3. proof of funds -- evidence of construction financing capability. 4. site inspection -- physical viewing of the property. 5. development proposal -- detailed concept, unit mix, floor plans, financial projections. 6. meeting with owner -- direct negotiation and jv finalization. --- ideal for: established developers seeking a well-located jv opportunity in lekki phase 1's most desirable residential enclave, with perfected c of o title and a clear focus on luxury flat development. a prime 1,026 sqm c of o parcel in lekki foreshore -- ready for a 50/50 jv partnership to deliver a landmark g+3 block of luxury fla...

Joint venture opportunity -- lekki foreshore off freedom way 2,000 sqm deed of assignment 50/50 sharing ratio land value: ₦1.7 billion (₦850,000 per sqm) proposal: blocks of luxury flats --- property overview - location: lekki foreshore estate, off freedom way, lekki phase 1, lagos -- a prestigious waterfront-adjacent residential enclave offering serenity, security, and proximity to lekki's best amenities. - land size: 2,000 sqm. - title: deed of assignment (developer to facilitate perfection to governor's consent). - land value: ₦1,700,000,000. - price per sqm: ₦850,000. - jv structure: 50/50 profit sharing between landowner and developer. - proposal: blocks of luxury flats -- designed for maximum roi in this prime location. - status: bare land, ready for immediate development. --- key highlights - prime lekki foreshore location: one of lekki phase 1's most exclusive neighborhoods, offering quiet, secure living with easy access to freedom way, chevron, victoria island, and the lekki-epe expressway. - substantial scale: 2,000 sqm provides excellent flexibility for a landmark residential development -- rare in this established locale. - developer-friendly terms: 50/50 sharing with land valued at ₦850,000/sqm offers attractive economics for a well-executed luxury flat project. - clear proposal: landowner is open to blocks of luxury flats -- a proven product type in this high-demand rental and sales market. - strong title pathway: deed of assignment provides a clear path to governor's consent -- a standard process that enhances bankability. --- ️ development potential -- blocks of luxury flats 2,000 sqm in lekki foreshore is ideal for: - luxury apartment block: 15--20 high-end flats across 4--5 floors. - unit mix potential: - 2-bedroom flats - 3-bedroom flats (duplex-style or single-level) - select penthouses on top floor - amenities: secure parking, gym, concierge, landscaped courtyard. - target market: young professionals, expatriates, corporate tenants, and downsizing executives seeking luxury rental accommodation in a prime lekki location. --- jv structure & market context component details land contribution 2,000 sqm (valued at ₦1.7b) developer role 100% construction funding sharing ratio 50/50 of completed units/sales title status deed of assignment -- developer to perfect to gov's consent per sqm valuation ₦850,000 proposed development blocks of luxury flats - per sqm benchmark: lekki foreshore land with good title typically ranges from ₦800,000--₦1.1m/sqm. at ₦850,000/sqm valuation, this offers a fair entry point for a jv partnership. - jv appeal: 50/50 is a balanced split in this micro-market, incentivizing quality development while rewarding landowner contribution. - rental & sales demand: lekki foreshore commands premium rents and sales prices due to its exclusivity and proximity to key employment hubs. --- next steps for interested developers 1. letter of intent (loi) -- express interest and capacity. 2. company profile -- demonstrate track record in luxury flat developments. 3. proof of funds -- evidence of construction financing capability. 4. site inspection -- physical viewing of the property. 5. development proposal -- detailed concept, unit mix, floor plans, financial projections. 6. meeting with owner -- direct negotiation and jv finalization. --- ideal for: established developers seeking a well-located jv opportunity in lekki phase 1's most desirable residential enclave, with a clear focus on luxury flat development. a fresh 50/50 jv mandate on 2,000 sqm in lekki foreshore -- ready for serious engagement from capable develope...

Joint venture opportunity -- banana island, ikoyi 4,947.766 sqm prime residential land c of o title land value: ₦4,000,000 per sqm (₦19.79 billion total) proposal: flats, maisonettes & penthouses on 6 floors --- property overview - location: banana island, ikoyi, lagos -- africa's most exclusive waterfront residential enclave. - land size: 4,947.766 sqm (approximately half a hectare of prime banana island land). - zone: residential area -- surrounded by lagos's most elite homes and residents. - title: certificate of occupancy (c of o) -- the highest form of title security. - land value: ₦4,000,000 per sqm. - total land value: ₦19,791,064,000 (approx. ₦19.79 billion). - proposal: luxury flats, maisonettes, and penthouses across 6 floors. - jv structure: open to partnership between landowner and capable developer. --- key highlights - ultimate banana island address: the most prestigious residential address in nigeria -- home to billionaires, captains of industry, and diplomatic elite. - massive scale: at nearly 5,000 sqm, this is one of the largest available development parcels on banana island -- a true landmark opportunity. - superior title security: c of o provides absolute ownership certainty -- bankable and ready for jv financing. - premium residential zone: surrounded by existing high-value homes, ensuring immediate prestige and long-term value appreciation. - 6- floor development potential: flats, maisonettes, and penthouses -- a mix that caters to different luxury buyer profiles while maximizing returns. - rare offering: land of this size on banana island is virtually extinct -- this is a generational opportunity. --- ️ development potential 4,947.766 sqm -- 6 floors of luxury residential - total built-up area: approx. 20,000--25,000 sqm (depending on design and floor plates). - unit mix potential: - luxury 2/3/4-bedroom flats - spacious maisonettes (duplex-style units) - premium penthouses with private terraces - estimated unit count: 40--60 luxury units, depending on unit sizes and configuration. - amenities: swimming pool, gym, concierge, secure parking, lush landscaping. - target market: ultra-high-net-worth nigerians, diaspora buyers, expatriates, diplomatic corps. --- market context metric value land size 4,947.766 sqm per sqm valuation ₦4,000,000 total land value ₦19.79 billion market range (banana island) ₦3.5m--₦6m/sqm jv sharing to be negotiated - per sqm benchmark: at ₦4m/sqm, this land is competitively positioned within banana island's current market range (₦3.5m--₦6m/sqm depending on waterfront access, exact location, and plot characteristics). - scarcity value: parcels exceeding 4,000 sqm in banana island's residential zone are exceptionally rare -- most have been developed or subdivided. - development upside: a well-executed luxury development on this site could achieve gross development value (gdv) of ₦40b--₦60b+, depending on unit mix and market conditions at completion. --- ️ jv structure (typical) party contribution sharing (negotiable) landowner land (c of o, valued at ₦19.79b) 40--50% of completed units/sales developer 100% construction funding 50--60% of completed units/sales - facilitator's fee: applicable as agreed with introducing agent. --- requirements for interested developers 1. letter of intent (loi) -- formal expression of interest. 2. company profile -- track record in luxury, large-scale developments. 3. proof of funds -- evidence of construction financing capacity (minimum ₦15b--₦20b project cost). 4. development proposal -- preliminary concept, unit mix, architectural vision, financial projections. 5. site inspection -- physical viewing of this landmark parcel. 6. jv negotiation -- direct engagement with landowner to finalize terms. --- ideal for: top-tier developers with proven experience in ultra-luxury, large-scale residential projects; institutional investors seeking a flagship banana island development. a once-in-a-generation opportunity -- nearly 5,000 sqm of c of o--titled land on banana island, ready for a world-class luxury residential development. serious and capable developers only. this is the pinnacle of nigerian real esta...

Joint venture opportunity -- lekki phase 1 proper 1,154.48 sqm lagos c of o land value: ₦1.8 billion prime location high roi potential 50/50 sharing (tbd) --- property overview - location: lekki phase 1 proper, lagos -- the gold standard of lekki living, offering unmatched prestige, security, and proximity to the peninsula's best amenities. - land size: 1,154.48 sqm. - title: lagos state certificate of occupancy (c of o) -- the highest form of land title in lagos. - land value: ₦1,800,000,000. - price per sqm: ₦1,559,000 (approx.). - jv structure: profit sharing between landowner and developer (ratio to be negotiated -- typically 50/50). - proposal: high-roi residential or mixed-use development. --- key highlights - lekki phase 1 proper: not phase 1 extension or fringes -- this is core lekki phase 1, commanding premium value and instant recognition. - superior title security: lagos c of o provides absolute ownership security -- bankable, transferable, and ready for financing. - substantial scale: 1,154 sqm offers exceptional flexibility for a landmark development -- rare in this built-up, high-demand location. - prime demographics: surrounded by high-net-worth residents, corporate headquarters, and luxury amenities -- ensuring strong demand for completed units. - jv flexibility: open to negotiating a win-win structure with a capable developer. --- ️ development potential 1,154 sqm in lekki phase 1 proper is ideal for: - luxury apartment block: 15--20 high-end flats across 4--5 floors. - terrace duplex cluster: 6--8 luxury terrace units. - gated mini-estate: 4--5 detached or semi-detached villas. - mixed-use development: ground-floor retail/offices + residential above (subject to approvals). --- market context metric value land size 1,154.48 sqm land value ₦1,800,000,000 per sqm valuation ₦1,559,000 market range (lekki ph1) ₦1.5m--₦2.2m/sqm jv sharing to be negotiated (50/50 typical) - per sqm benchmark: at ₦1.56m/sqm valuation, this land is competitively positioned within lekki phase 1's current market range (₦1.5m--₦2.2m/sqm depending on exact street and plot characteristics). - scarcity factor: plots of this size with c of o in lekki phase 1 proper are increasingly rare -- most have been developed or subdivided. --- next steps for interested developers 1. letter of intent (loi) -- express interest and capacity. 2. company profile -- demonstrate track record in luxury developments. 3. proof of funds -- evidence of construction financing capability. 4. site inspection -- physical viewing of the property. 5. development proposal -- concept, unit mix, financial projections. 6. jv negotiation -- agree on sharing ratio and terms with landowner. --- ideal for: established developers seeking a flagship jv opportunity in lagos's most prestigious residential address; investors wanting exposure to lekki phase 1's prime real estate market. a rare 1,154 sqm c of o parcel in lekki phase 1 proper -- ready for the right developer to create something exception...

*quick joint venture: 650sqm at census close off bode thomas junction, surulere* location: census close off babs animasaun land size: 650m² title: land certificate land value: n500m proposal: multiple luxury apartments. sharing ratio: tbd premium : n55m facilitator's fee: 10% of total land value. survey plan: available on request inspection: call procedure loi, company profile, detailed project proposal. proof of fu...

Joint venture partnership at bourdillon road, lagos. this jv is opened for a proven capable financier & developer for the construction of high-density/high-rise top notch luxury apartments. plot size: 4417 sqm title: federal government certificate of occupancy. value of the land: n4m/ sqm the type of development required: high density/high-rise mix of 40 units of contemporary top luxury 4-bedroom maisonettes with 2 staff quarters & 2 kitchenettes per unit *plus* 6 units of 5-bedroom penthouses with 2 staff quarters & 2 kitchenettes per unit with modern facilities & amenities. height: 25 floors or more permissible by lasg building authorities but without crowding. sharing formula: developer 65% landowner 35%. facilitators' fee: 7% of land value (not negotiable) premium: n1b not negotiable other prerequisites: architects: paradigm/rumis. (developers may present their architects & designs but if both parties disagree on the designs, it will be outsourced to paradigm/rumis.) construction firm: elalan, cappa & d'alberto, etc. in-house builders will be considered if the standard/portfolio (in ikoyi) matches those of the preferred contractors. all sub-contractors (windows, doors, electrical consultants, mechanical consultants, etc) to be mutually agreed upon & selected by both parties before execution of the jva. proof of availability of funds to start & finish the project (eg., bank statement or guarantee or whatever the institution you plan to use). detailed finishing documents: landowners will provide detailed finishing documents to be applied to their units & common areas if finishing documents by the jv partner is not mutually agreed up...