Real Estate & Construction
Overview
As a discerning commercial law firm that recognizes the relationship between Land/Real Estate (considered to be one of the factors of production) and commercial activities, the firm has one of the most extensive legal units dedicated solely to Real Estate and Construction in Nigeria . We have participated in various phases of conception, financing, construction and maintenance of at least three privately developed estates in Nigeria, (including the one generally regarded as the most successful private city estate in Nigeria, located in Lagos), and International Hotel under the Hyatt chain; in addition to various office and shopping complexes. We have also negotiated and advised a State government on the construction of a 22-room modern courthouse in Nigeria in a uniquely structured transaction, considered a first in many ways.
In our legal advisory role in Real Estate and Construction, we have had to negotiate the acquisition of undeveloped and developed land with occupiers/owners, and advised on how much, and to whom compensation is due. This has been accomplished through a delicate interpretation of the Land Use Act, the Urban and Regional Planning Act (and the ensuing case law from it), as well as sector specific statutes such as the Petroleum Act. In an operating environment such as Nigeria where inflation is constant, we have also ensured that construction projects are not frustrated, by advising on undertakings, guarantees, and such other instruments/devices needed to be in place to prevent delay/abandonment in construction works, and that projects are constructed according to specifications.