1,525 Sqm Saka Jojo Street, Victoria Island, Lagos
Interested in this property?
Property Description
Prime Joint Venture Development Opportunity on Saka Jojo Street, Victoria Island, Lagos
1,525 SQM C of O Title Land Value: ₦3.7B Premium: ₦500M 50/50 Sharing 10% Facilitator Fee
---
Property Overview
- Location: Saka Jojo Street, Victoria Island, Lagos
- Land Size: 1,525 SQM
- Title: Certificate of Occupancy (C of O)
- Land Value: ₦3,700,000,000
- Premium: ₦500,000,000
- Total Land Cost: ₦4,200,000,000
- JV Sharing Ratio: 50/50
- Facilitator's Fee: 10% of land value (₦370,000,000) -- payable upon deal closure
---
️ Proposed Development Plan
- 9 Units of 2-Bedroom Maisonnettes
- 9 Units of 3-Bedroom Maisonnettes
- 2 Units of 4-Bedroom Penthouses
- Total: 20 luxury residential units
- Design: Modern, high-end finishes, secure parking, 24/7 power & water, premium amenities
---
Key Highlights
- Prime VI Location -- Saka Jojo Street is in the heart of Victoria Island's residential premium corridor
- Clear C of O Title -- No encumbrances, ready for immediate development
- Structured JV Offer -- Landowner brings titled land; developer funds construction and execution
- High-Return Project -- Luxury residential in VI commands premium sales/rental values
- Market-Ready Demand -- Strong interest from expatriates, executives, and high-net-worth individuals
---
Location Benefits
- Victoria Island Address -- Lagos' most prestigious business and residential district
- Walking distance to banks, embassies, restaurants, and corporate offices
- Excellent accessibility to Eko Atlantic, Ahmadu Bello Way, and Akin Adesola Street
- Secure and serene with existing infrastructure and high-end surroundings
---
Financial Breakdown
- Land Value: ₦3.7 Billion
- Premium: ₦500 Million
- Total Land Cost: ₦4.2 Billion (borne by JV structure)
- Facilitator's Fee: 10% of land value = ₦370M (paid by landowner upon closing)
- JV Sharing: 50/50 profit split after cost recovery
- Estimated Development Cost: To be determined by feasibility study
---
Joint Venture Structure
- Landowner Provides: Titled land at valued contribution
- Developer Provides: Full construction funding, project management, sales, and marketing
- Profit Share: 50% each after all costs and recovery
- Governance: Joint project oversight committee
---
Ideal Development Partner
- Established real estate developer with a strong portfolio in high-end residential projects
- Proven financial capacity to fund and deliver a 20-unit luxury development
- Experience in Lagos premium markets (VI, Ikoyi, Lekki)
- Ability to move swiftly from agreement to groundbreaking
---
Next Steps for Qualified Developers
- Submit company profile and relevant project experience
- Site inspection and title review
- Preliminary feasibility and design proposal
- JV term negotiation and agreement drafting
This is a clear, structured, and prime JV opportunity in one of Victoria Island's most desirable streets.
Only serious and capable development partners will be considered.
Property Details
| Property Ref: 3245165 | Last Updated: 10 Dec 2025 | Market Status: Available |
| Type: Residential Land | Total Area: 1,525 sqm |
Interesting Facts
You might be wondering if Victoria Island is an actual island based on its name. No, it is not right now, but it used to be.
Victoria Island was once completely surrounded by water until the colonial government sand-filled the eastern part to prevent mosquito breeding in the swampy area. It ended up with land areas connecting Victoria Island to Lekki Peninsula after it was sand-filled.
Leisure and Shopping
Victoria Island is home to the SPAR shopping mall, which is a one-stop shop for all of your retail needs. Goodies Supermarket is another well-stocked supermarket that sells a wide variety of items such as beverages, cosmetics, wine, toys, and so on. Other shopping options include Mega Plaza, Hubmart Store, Landmark Boulevard, XYLO, and Bijoux Mall.
Popular Estates
1004 Estate, the current largest single luxury high rise estate in Sub-Saharan Africa, is located on Victoria Island.
1004 Housing Estate is an 11-hectare housing estate with over 1000 apartments that was originally owned by the Federal Government before being purchased by private investors in 2007. The estate is located in the business and recreational district of Victoria Island.
There are four swimming pools on the estate for relaxation, as well as tennis courts for sports enthusiasts. The estate is also secure, and power is always available.
Day Life
Known for being an entertainment hub, Victoria Island has numerous places to hang out, eat, chill and have a great time.
Silverbird and Filmhouse cinemas are recommended for moviegoers. Oniru Beach, located on Victoria Island, is one of the most popular beaches in Lagos. Ocean Basket is the Mediterranean's seafood mecca. The Red Door Gallery is a must-see for art enthusiasts. It can be found within the Silverbird Galleria.
Kappadocia Lagos is Lagos' first and only cave restaurant. The architectural design creates the illusion that you are in a cave.
Night Life
In Victoria Island, the night is always young. Get your dancing shoes on and choose from any of the bubbling spots to experience the nightlife here.
If you live in Lagos, you have probably heard of Club Quilox. This is one of the hottest clubs in Lagos, and many celebrities frequent it.
Othello's Lounge is located in the heart of Victoria Island. Here you can get reasonably priced drinks and chops.
At LiVE! Lounge, you can expect to see live bands, karaoke, and comedy nights. They have both indoor and outdoor seating options, depending on your preference.
Schools
If you live on Victoria Island, you will not have to look far for good schools. American International School of Lagos is an international school that serves students from preschool to grade 12. Boston Academy, Crescent Schools, Cranberry School, White Oak Preparatory School, and Kuramo College are also popular primary and secondary schools. The Nigerian Law School and the Now Open University are also located on Victoria Island (NOUN).
Read the full area guide for Victoria Island (VI), Lagos.
Interested in this property?
Disclaimer
The information displayed about this property comprises a property advertisement. Nigeria Property Centre makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Nigeria Property Centre has no control over the content. This property listing does not constitute property particulars.The information is provided and maintained by Ac Valour International. Nigeria Property Centre shall not in any way be held liable for the actions of any agent and/or property owner/landlord on or off this website.
Marketed by
No 60 Chris Idowu Street Ejigbo Isolo, Isolo, Lagos, Nigeria
0803 XXXX Show Phone
08036503218
Registered 4 months ago
View all properties from this agent