As one of the factors of production, we recognize the intrinsic value of real estate to any business. We also recognize the role of infrastructure and project finance to Nigeria’s economic development and industrial growth. As a result, we have a vast team of dedicated lawyers with extensive experience and track record in supporting the entire spectrum of these activities, ranging from the acquisition, compensation, financing of real estate to perfection of titles across Nigeria. Other activities include negotiation, structuring, documentation and review of project, support, security and financial agreements.
Babalakin & Co. negotiated, documented and handled all regulatory compliance issues in respect of the concession and ancillary agreements for the Murtala Mohammed Airport Terminal 2 (MMA2), the first Nigerian public infrastructure to be operated under a Build, Operate, Transfer (BOT) arrangement. We also negotiated and documented the concession of the first and longest Federal highway in Nigeria.
We have participated in the various phases of conception, financing, construction and maintenance of at least, three privately developed estates in Nigeria (including the most successful private city estate in Nigeria), two international hotels under the Hyatt and IHG chains as well as various office and shopping complexes. We have also negotiated and advised a State government on the construction of two modern multi-storey court houses in Nigeria in a uniquely structured transaction considered a first in many ways.
We have had to negotiate the acquisition of land with owners/occupiers and advised on how much and to whom compensation is due. This has been accomplished through a careful interpretation of the Land Use Act, the Urban and Regional Planning Act (and the ensuing case law from these laws), as well as sector specific statutes where land acquisition is pivotal to the activities, such as the Petroleum Act and the Electric Power Sector Reform Act. We also advised the Infrastructure Concession Regulatory Commission on the proposed bill to amend its enabling statute.
We negotiated, documented and handled all regulatory compliance issues in respect of the concession and ancillary agreements for the Murtala Mohammed Airport Terminal 2 (MMA2), the first Nigerian public infrastructure to be operated under a Build, Operate, Transfer (BOT) arrangement.
Real Estate, Infrastructure and Construction