Banana Island, Ikoyi, Lagos
₦19,791,064,000
| Property Ref: 3370127 | Added On: 03 Mar 2026 | Last Updated: 03 Mar 2026 |
| Market Status: Available | Type: Land | Total Area: 4,947 sqm |
CLOSEABLE JOINTVENTURE OPPORTUNITY --- BANANA ISLAND, IKOYI (ULTRAPREMIUM RESIDENTIAL)
Headline
A transformational JV on Banana Island --- 4,947.766 sqm of vacant, developable land in one of Lagos's most exclusive residential enclaves. A rare, highimpact opportunity to deliver luxury flats, maisonettes and penthouses with commanding market appeal.
Quick Facts
- Location: Banana Island, Ikoyi, Lagos --- prime residential pocket
- Size: 4,947.766 sqm (single contiguous parcel)
- Title: Certificate of Occupancy (C of O) --- bankable, verifiable and financingfriendly
- Land value (basis for JV): 4,000,000 per sqm --- Implied land value: 19,791,064,000 ( 19.79 billion)
- Proposed product: Luxury flats, maisonettes and penthouses over 6 floors (conceptual)
- Sharing: 50 : 50 (landowner : developer) --- headline commercial split
- Premium: Nil --- no upfront premium required
- Facilitator's fee: 10% of total land value (payable as agreed)
- Animations & visual concept pack: Available on request for qualified parties
Why this is exceptional
- Iconic address: Banana Island rankles at the top of Lagos's hierarchy of prestige --- immediate trust, demand from HNWIs, expatriates, diplomats and corporate executives, and exceptional resale/rental appetite.
- Strategic scale: Nearly 5,000 sqm on Banana Island is extremely rare and enables a signature scheme --- flagship penthouses, private gardens, generous parking and premium amenity stack.
- Bankable title: C of O gives lenders and institutional partners confidence for structured finance and presale strategies.
- No premium: Owner contribution as land (no premium) accelerates deal close and enhances project IRR for the developer.
- Straightforward commercial split: A clean 50:50 sharing formula provides a compelling foundation for rapid negotiation and mobilisation.
Development potential & market fit
- Product focus: Ultraluxury apartments, maisonettes with private terraces, and duplex penthouses --- product tailored to Banana Island's topend market.
- Density & design: 6floor massing offers efficient yields while preserving exclusivity; ample podium parking, landscaped courtyards, concierge services and private lift access to premium units.
- Revenue channels: Forsale luxury units, serviced penthouses, branded residences or a mixed model combining sales and rented premium units for recurring revenue.
- Brand opportunity: Site suitable for a marquee developer or luxury brand seeking a landmark Banana Island project.
Suggested JV mechanics (example structures)
- Landowner: Contributes land valued at 19.79B (basis).
- Developer: Provides capex, design, construction, sales & marketing, and project management.
- Sharing: Net project proceeds shared 50:50 after costs and agreed developer's fees; specific cost allocation, carveouts and waterfall to be agreed in Heads of Terms.
- Facilitator fee: 10% of agreed land value --- timing and payment milestones to be agreed and captured in the facilitator agreement.
Process, qualification & next steps
This is a closeable, highvalue JV reserved for proven developers and institutional partners:
1. Expression of Interest + Company Profile + Evidence of Track Record (completed luxury projects)
2. Proof of Funds or Developer Financing Partners (prequalification)
3. Sign NDA receive full data room (C of O, survey, concept animations, site particulars)
4. Site inspection and technical briefing for qualified parties
5. Submission of commercial JV proposal (delivery programme, funding plan, preferred split details)
6. Agree Heads of Terms Execute JV Agreement Mobilise
Why act now
Land of this scale and title on Banana Island is virtually nonexistent on the open market. For a discerning developer or institutional JV partner, this parcel offers the platform for a landmark project that commands premium pricing, strong presales potential and durable capital appreciation.
Confidential enquiries only
Qualified developers and investors should submit their expression of interest and proof of capacity to receive the data pack and arrange a confidential viewing. Animations and conceptual schemes available to prequalified parties on request.
Seize a Banana Island legacy --- build the address that defines Lagos luxury.
#daka
