Eko Atlantic City, Lagos
$18,000,000
| Property Ref: 3078419 | Added On: 06 Sep 2025 | Last Updated: 16 Sep 2025 |
| Market Status: Available | Type: Land | Total Area: 9,100 sqm |
NOTICE: *DIRECT DEVELOPER COMMUNICATION ONLY* (NO AGENTS- NO MANDATES)
JV OPPORTUNITY --- 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: Highrise development (up to 45 storeys) --- owner seeks highrise 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)
- Facilitator's fee: 7% (payable on successful completion/transfer per facilitator agreement)
Opportunity summary
A strategic JV opportunity to deliver a landmark highrise development in Eko Atlantic on a 9,100 sqm seafront plot. With a clear C of O and a preferred 45storey programme, this site is suited to a trophy mixeduse or residential tower development --- an ideal proposition for experienced international or domestic developers seeking a flagship asset on Lagos' premier reclaimed coastline. The asset offers scale to achieve a large GDV and market attention; the vendor is open to joint venture structures that combine land equity with developer capital and delivery expertise.
Key selling points
- Prime Eko Atlantic location --- prestige waterfront address with institutional-grade neighbourhood infrastructure and rising global profile.
- Sizeable landbank (9,100 sqm) sufficient for a highrise tower or multitower podium + tower configuration.
- C of O in place --- streamlines title risk (buyer to verify certified documents).
- Preferred 45storey 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 longhold asset for institutional investors.
Suggested development concepts (illustrative)
- Single 45storey mixeduse 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.
- Twintower podium + tower scheme: lower-rise commercial/retail podium facing promenade with two residential/hotel towers maximizing waterfront views.
- Branded hospitality + residences: 5star hotel operator + branded residences and private sky villas; strong positioning for HNWIs and business visitors.
- Premium office/gradeA commercial component combined with luxury residential where market appetite supports mixed use.
Commercial JV structures (typical options)
- Landforequity 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 / buildandsell: developer finances and constructs; landowner paid land value in cash (or phased payments) or a hybrid of cash + profit share.
- Buildtohold / longterm asset coownership: institutional JV with longterm income/asset management focus; rental yield sharing and professional property management.
- Phased parcel JV: subdivide the 9,100 sqm into phases for different product types and investors to optimise cashflow and derisk delivery.
Commercial considerations & facilitator fee
- Land value benchmark: US$18M (indicative) --- final valuation to be confirmed via independent appraisal.
- Facilitator's fee: 7% of the agreed transaction value / fee base --- payable on successful closing per facilitator agreement (confirm basis and timing in term sheet).
- No premium recorded (vendor indicates Nil) --- buyer should verify with relevant authorities to confirm absence of outstanding government premiums or obligations.
Planning, technical & statutory considerations
- Verify permitted height/FAR and design envelope with Eko Atlantic Authority and relevant Lagos State planning authorities --- 45 storeys requires early preapplication consultations.
- Coastal & marine engineering: confirm reclamation stability, shoreline protection, piling strategy and any special geology/geotechnical requirements.
- Environmental & flood resilience: EIA/SEA review, stormwater/drainage design and resilient podium/finishedfloor 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, presales 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.
Contact: Mr. Kola Adesina (EDBA)
All detailed documentation and commercial discussions will be provided on a confidential basis and subject to a signed NDA.
Serious proposals only.
*How we work*
Tell us your needs (budget, location, size).
Our team reviews your request and assigns a dedicated relationship manager.
We only source conflict-free land and properties with clear titles.
We conduct due diligence and arrange site visits.
Viewings are by appointments only
Finalize purchase, rental or lease with legal support.
*PLEASE FEEL FREE TO BROWSE OUR OTHER FEATURED PROPERTIES*
Ref: Daka
