This Joint Venture is created for the development of a Vertical City at Water Corporation Road Oniru, Victoria Island annex.

Vertical City will have the following proposed features:

- Three Towers of 20 floors each of Ocean-view Vertical City on Oniru
Waterfront adjoining the Eko Atlantic sitting on 15,750sqm of land.

- 60,000sqm of development with 48,000sqm of lettable space while
12,000sqm is developed for circulation and services.

- Mixed use development of Commercial, Tourism & Leisure,
Business, and Residential spaces;

- Basement and about 4 floors of parking; 2 floors of Commercial
and business use; 2 floors of Tourism & Leisure; and 12 floors of residential spaces.

Other Completed and proposed project along the same road and roll includes Gtb Event Centre, Landmark Event Centre, Landmark Pwc, Lagos Water Corporation, D Venue Event Centre, Cedarewood Car Park/D.V, Total Coop. Warehouse, Atlas Engineering, Deluxe Properties, Deluxe Properties, Dorchester Tri. H, Trinity House, VERTICAL CITY, Grenadines.

Structure
This Joint Venture shall be achieved under the following structure:

1. A Joint Venture of 15 (fifteen) Investment Slots. An Investment Slot is
N260Million only. Minimum requirement to participate in this Joint
Venture is one Investment Slot. An Investor (Joint Venture Partner)
can take more than one Investment Slot.

2. This Joint Venture shall incorporate a Special Purpose Vehicle (SPV)
that shall operate the JV.

3. Each Investor (Joint Venture Partner) shall contribute the value of
their Investment Slots as to the JV as Equity Contribution.
N26.6Million of each Investment Slot (Equity Contribution) is
earmarked for Preliminaries.

4. This Investment Slot of N260Million entitles each Investor to 6.67% of
the shares of the SPV. Entire Investment Sum shall be due immediately
upon signing of JV Agreement and must be paid within 30 days.

Note for Investors:
An Investor who may not be able to afford an
Investment Slot may still invest in a Slot along side other
investors investing together in the same Slot. That Slot
does not truly become a Partner in this JV until their
cumulative investment reaches the N260Million Investment value for a Slot which qualifies that
Investment Slot as a JV Partner.
An Investor can take more than one Investment Slot.

5. The SPV shall wholly own all assets of the JV.

6. From the Equity Contribution, the SPV shall purchase the land for the
Vertical City at the purchase price of N3.5Billion. N400 Million shall be
retained for disbursements for all preliminaries.

7. Investors (JV Partners) shall pay a Participation Premium of 20% of
Purchase Price of the land to the Founding and Managing Partner of
this Joint Venture, FMT Prime Limited.

8. Investors (JV Partners) shall receive a Return on Investment of at least
25% per annum over four years.

9. Budget for Creation of Vertical City is N22Billion (all inclusive).

10. The funding of this Joint Venture is divided into two:
(A). Equity: This funds the Purchase of the 15,750sqm of
land & Preliminaries (architectural &
engineering drawings; Government approvals;
branding; marketing; sales office; site
preparation; advertising; initial engineering &
structural works etc)
(B). Pre-Sales: This funds construction works and other
ancillary expenditure.

11. Cost of Construction shall be raised from off-plan Sales (Pre-Sales) which
sums shall be warehoused in First Marina Trust Limited and shall not go
into any of the pre-construction costs.

12. Facility Management of Vertical City shall be done by a company to be
appointed by FMT Prime Limited.

Timeline:
November – December 2017: Signing of JV Agreement; Set up of SPV

January – June 2018:
a. Equity Contribution by Investors (JV
Partners)
b. Purchase of roughly 15,750 Sqm of
waterfront land
c. Preliminaries (Architectural & Engineering
Drawings, Government Approvals, Tenders,
Selection of Consultants, Contractors,
Branding, Marketing & sales consultations,
Set up of Sales Office; legalities; Soil Tests;
Piling works etc)
d. Pre-Sales Commences

January – April 2019:
a. Signing of Contract with Building Contractor
b. Between 30 to 40% Mobilisation of Building
Contractor (Fixed Contract Agreement)

April 2019 – 2021: Pre-Sales Continues (Off-Plan Marketing & Sales),
Road Shows, etc

December 2021: Completion of Construction of Vertical City.

January 2022: Handover to Homeowners.


For enquiry or want the presentation at your convenient time. You can Call or whatsapp 08055008638
or call. 08136565666

Good joint venture for any smart investor along Water corporation road, Oniru, Victoria island annex

Happy Easter

Slots are still available

Still available

This is a good investment

Joint venture still available

Available now

Ask us

Hello

Hi

Call us now

Hello

HI

Hello

Presentation can be done for you anywhere