EKO ATLANTIC

Project: Joint Venture Opportunity --- Prime 9,100 sqm Land Parcel, Eko Atlantic

Note: Images are for illustration purposes


Quick overview

- Asset: Land parcel for JV development
- Size: 9,100 sqm
- Location: Eko Atlantic (seafront/reclaimed land) --- premium Lagos waterfront district
- Preferred concept: High?rise development (up to 45 storeys) --- owner seeks high?rise scheme partner
- Land value (indicative): US$18,000,000
- Title: Certificate of Occupancy (C of O) --- documents to be provided for verification
- Premium: Nil (seller indicates no additional premium payable)

C of O in place --- streamlines title risk (buyer to verify certified documents).
- Preferred 45?storey scheme aligns with market demand for trophy residential, serviced apartments, branded residences and premium office/hotel components.
- No premium indicated --- simplifies commercial negotiation (confirm with solicitor and government records).
- Strong exit options: luxury apartment sales, serviced apartments, hotel operator sale/lease, or long?hold asset for institutional investors.

Suggested development concepts (illustrative)

- Single 45?storey mixed?use tower: luxury residential apartments (1--4 bed), duplex sky villas/penthouses, podium retail and F&B, branded hotel or serviced residences on lower/mid floors.
- Twin?tower podium + tower scheme: lower-rise commercial/retail podium facing promenade with two residential/hotel towers maximizing waterfront views.
- Branded hospitality + residences: 5?star hotel operator + branded residences and private sky villas; strong positioning for HNWIs and business visitors.
- Premium office/grade?A commercial component combined with luxury residential where market appetite supports mixed use.

Commercial JV structures (typical options)

- Land?for?equity JV: owner contributes land valued at US$18M into an SPV; developer contributes design, finance, construction and marketing. Profit/share split to be negotiated (examples: 60:40 developer:landowner, 55:45, or bespoke waterfall returns depending on land valuation and risk).
- Forward sale / build?and?sell: developer finances and constructs; landowner paid land value in cash (or phased payments) or a hybrid of cash + profit share.

Environmental & flood resilience: EIA/SEA review, stormwater/drainage design and resilient podium/finished?floor strategies.
- Utilities & infrastructure: confirm capacity for power, water, sewage, telecoms and district utilities; coordinate service reinforcement if required.
- Transport & access: road connections, emergency access, parking requirement and loading/service arrangements.
- Statutory approvals: building permit, environmental permits, fire & safety, and any Eko Atlantic-specific compliance protocols.

Financial & delivery considerations (high level)

- Early feasibility recommended: architectural massing, preliminary GFA estimate, QS cost plan and market sizing to determine GDV and profitability.
- Construction complexity: deep foundations/piling and marine considerations will influence cost and programme --- allow contingency.
- Sales & exit strategy: branded marketing for premium buyers, pre?sales strategy for cashflow, JV governance for pricing and release strategy.
- Timelines: feasibility & approvals (2--6 months), detailed design & procurement (4--8 months), construction (36--48 months depending on scope), phased sales throughout construction.
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