Lekki remains one of Lagos’ fastest-growing real estate corridors, driven by rising residential demand, expanding infrastructure, and increasing investor confidence. Within this high-growth environment lies a rare joint venture (JV) land opportunity strategically located off Freedom Way, Lekki, on the highly desirable Richmond Drive. This property presents an excellent option for credible developers seeking to deliver a profitable high-rise residential project in a prime urban setting.
Strategic Location Advantage
The land is situated off Freedom Way, one of Lekki Phase 1’s most important access roads, known for its connectivity to Admiralty Way, Bisola Durosinmi-Etti Drive, and other major commercial and residential nodes. Richmond Drive is a well-established street, surrounded by modern developments, serviced apartments, corporate offices, and lifestyle destinations.
This location benefits from:
- Easy access to major business districts
- Proximity to shopping malls, restaurants, and leisure hubs
- A secure, fully built-up neighborhood
- Strong appeal to professionals, expatriates, and high-income residents
These factors combine to make the area ideal for high-density residential development with strong market demand.
Land Size and Development Potential
The property measures 2,500 square meters, a generous land size that supports high-rise construction and efficient architectural planning. The land’s layout and topography make it suitable for vertical development, allowing developers to maximize unit count and optimize returns.
With increasing land scarcity in Lekki Phase 1, plots of this size are becoming increasingly rare—further strengthening the investment appeal of this opportunity.
Secure Title and Documentation
The land is backed by a Governor’s Consent, ensuring:
- Clear ownership
- Legal security
- Ease of verification and transfer
- Bankability for financing and JV structuring
This title status significantly reduces risk and allows developers to proceed with confidence through planning, approvals, and construction phases.
Land Valuation
The land carries an estimated value of ₦2.5 billion, reflecting its prime location, title security, and suitability for high-rise residential development. Given current market trends in Lekki, well-executed developments in this area continue to enjoy strong sales velocity and rental demand.
Proposed Joint Venture Development
The preferred development concept for this property is high-rise blocks of flats, which may include:
- Luxury apartments
- Mid-to-high-end residential units
- Serviced apartments
- Rental-focused residential projects
With Lekki’s growing population of professionals and investors seeking modern living spaces, this development type aligns strongly with market demand and long-term profitability.
Joint Venture Structure
The proposed JV arrangement is structured to encourage collaboration and commercial viability:
- Developer: 60%
- Land Owner: 40%
This sharing formula reflects a fair balance between land value contribution and development execution, making it attractive to experienced developers with the technical and financial capacity to deliver quality projects.
Professional & Facilitation Fees
A 10% professional / facilitation fee applies to this transaction, covering coordination, documentation support, and deal facilitation.
Why This JV Opportunity Stands Out
This property offers several compelling advantages:
- Prime location off Freedom Way, Lekki
- Large land size suitable for high-rise development
- Clear and verifiable title (Governor’s Consent)
- High demand residential corridor with strong ROI potential
- Fair JV sharing structure
- Semi-direct deal for smoother negotiations and faster closure
Inspection and Enquiries
This opportunity is open to serious developers and institutional investors seeking a high-quality JV project in Lekki.
Contact / WhatsApp: 08034139285
Reach out to request further details, discuss development proposals, or schedule an inspection.
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