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Mosunmola Mews Project

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olorunyomialatise
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65 views11 pages

Mosunmola Mews Project

Uploaded by

olorunyomialatise
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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CONTEMPORARY ISSUES IN

DEVELOPMENT FINANCE
(ESM 803)

21 MARCH, 2024
AN INVESTIGATION OF SOURCES OF
FINANCING MOSUNMOLA MEWS
PROJECT WHICH IS AT 37, OPEBI, IKEJA,
LAGOS.
BY

AZEEZ DOLAPO YUSUF


MOSUNMOLA MEWS ESTATE
This is a developing resudential estate which is located in a secured
neighbourhood in Opebi, Ikeja , Lagos.
It is a dual estate with 2 entrance and 2 exits
The project currently ongoing and it is designed to accommodate 33 units of 4
Bedroom town houses on a land area of approximately 7700 square meter.
The accommodation details of the Town houses are as follows:
Ground Floor: Sitting/ Dining area, Kitchen, Store, Visitor’s Toilet, Servant Quarters
Middle Floor: 2 No. Bedroom (ensuite)
Last Floor: 2 No. Bedroom (ensuite)
FACILITIES AND SERVICES
PROVIDED IN THE ESTATE
 Swimming Pool

 Gymnastic area

 Ample Parking space for all units

 Sewage treatment plant

 Water Treatment Plant

 Transformer

 2 No. 800kva Generator

 1.5Kva Solar inverter for each unit

 CCTV Survellance
DEVELOPER AND THEIR
ANTECEDENTS
This estate is being developed by POC Nig. Limited in
partnership with KayDee Investment Limited.
The developer has a previous record of the development of 24
No. 4 bedroom semi detached houses with 6 No. 3 bedroom
apartment known as Pocal Park Estate which is located at Dele
Adedeji Street, Lekki Phase 1.
The developer is also involved in the development of Sapphire
Garden Estate which is located at Km35 Lekki Epe Expressway
Awoyaya On 58hectares on land.
PROJECT COST AND SOURCES OF
FINANCE
The project is estimated to cost about 8billion Naira and in order to achieve this, the following are sources by which the project is being

financed:

1. Joint Venture Agreement: The developer entered into a joint venture agreement with a land owner who have a land suitable for the

said purpose and there was a memorandum of understanding between the two parties on the arrangement of the Joint Venture

agreement. The land is said to be approximately 7700 square meter which is about 4.5billion naira in value

2. The developer’s equity and cash available: After the acquisition of land, the developer started the project with his personal fund and

capital available.

3. Proceed from off-plan sale: Another source by which the developer uses in financing the project is by off-plan sale where buyers pay in

advance for the project which is yet to be started or not yet completed

4. Loan from bank using some of the physical assets belonging to the developer as collateral
PICTURES SHOWING THE STAGE OF
CONSTRUCTION
PICTURES SHOWING THE STAGE OF
CONSTRUCTION
PICTURES SHOWING THE STAGE OF
CONSTRUCTION
PICTURES SHOWING THE STAGE OF
CONSTRUCTION
THE END

THANK YOU

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