Case 11Real estate development in Nigeria
Permits, project finance and EPCM for a 30-storey mixed-use tower.
A 30-storey building combining offices and homes brings together regulators, lenders, contractors and future occupiers. We advised the developers across all of them.
- Client
- Property developers (confidential)
- Sector
- Mixed-use real estate
- Practice
- Real Estate & Construction
- Jurisdiction
- Lagos, Nigeria
The brief
Our clients were developing a 30-storey, multi-user building combining commercial and residential space. They needed counsel from the first permit through to financial close and construction.
Each workstream depended on the others: lenders would not commit without permits, and the construction contract had to fit the terms the lenders imposed.
Our advice
- 01
Permits and approvals
Securing planning and building permits, environmental approvals and the other consents required for a high-rise development.
- 02
Project finance
Advising on the financing structure and negotiating the facility, security and direct agreements with the lenders.
- 03
EPCM contract
Drafting and negotiating the engineering, procurement and construction management (EPCM) agreement, including scope, fees, performance standards, liability caps and the interface with trade contractors.
- 04
Land and title
Confirming title to the site and the consents required to develop and finance it.
- 05
Multi-user structure
Structuring the arrangements for shared ownership and use of the building, including service charges and the management of common areas.
Outcome
The developers moved forward with permits in place, financing documented and a construction contract aligned with their lenders’ requirements.