AJVAJVLand & Development
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How it works

Built for the deal nobody else serves

Marketplaces sell land. Prospecting tools cold-call owners. AJV is the first platform where both sides of a joint venture are first-class users.

For landowners

  1. 1List your plot privately in 7 guided steps
  2. 2AI shows what it could become — in plain words
  3. 3Approve who sees it, compare benchmarked offers

For developers & investors

  1. 1Define your mandate once
  2. 2Matched, underwriting-ready plots come to you
  3. 3Model, propose and close in one deal room
JV structures

Structures that fit these numbers

Market intelligence content is shown in English in this version.

Joint Development Agreement — Area Share

☪ Sharia-OK
JDA (كات كارشيليغي / kat karşılığı analogue)

Owner grants development rights (JDA + limited power of attorney) but keeps title until handover. Developer builds entirely at own cost; the finished built-up area is split by an agreed ratio and each party sells or keeps its own units.

Owner share of built area
3050%
INPKEGAESA

Joint Development Agreement — Revenue Share

☪ Sharia-OK

Same grant of development rights, but the owner takes a percentage of gross sales revenue instead of units. Developer controls pricing and sales; escrow and audit rights are standard protections.

Owner share of gross revenue
2040%
INEGSAAEPK

Land-as-Equity SPV

☪ Sharia-OK

Owner conveys land into a new project company at an agreed value; that value becomes the owner's equity stake. Developer and investors contribute cash and expertise; profits distribute through a waterfall (capital back → preferred return → promote).

Owner equity of project
2050%
USGBDEAESAESFRCN

Ground Lease JV

Owner keeps the freehold and grants a 49–99 year lease. Developer builds and owns the improvements for the term, paying ground rent (often ~4–6% of land value, with resets). Land and buildings revert to the owner at expiry.

Ground rent (of land value, p.a.)
46%
USGBDEFRPTAE

Musataha

☪ Sharia-OK
مساطحة

A registrable in-rem right (up to 50 years, renewable) letting the developer build and own buildings on the owner's land — mortgageable and sellable. Buildings revert at expiry per contract. The Sharia-compliant workhorse of UAE/GCC land partnerships.

Annual musataha rent (of land value)
36%
AESA

Erbbaurecht (Heritable Building Right)

Erbbaurecht

German registered, inheritable, mortgageable right to own a building on another's land for 60–99 years. Owner receives indexed ground rent (Erbbauzins, ~1.5–4% of land value p.a.); at expiry the building is compensated (statutory minimum 2/3 of value for housing).

Erbbauzins (of land value, p.a.)
1.54%
DE

Permuta / Dation-style Unit Swap

☪ Sharia-OK
Permuta · Dação

Owner transfers the plot and is paid in finished units of the future building (typically 25–35% of buildable area), transferred at completion. Spain and Portugal's classic owner-friendly structure; taxed on both legs — structure with advice.

Owner share of built area
2535%
ESPT

Dation en Paiement

☪ Sharia-OK
Dation en paiement

French sibling of the permuta: the landowner is paid partly or wholly in finished premises. Often paired with a VEFA forward-sale of the remainder to institutions.

Owner consideration (of revenue)
2040%
FR

Promotion Agreement

☪ Sharia-OK

A promoter funds the planning application at its own risk. On consent, the land is sold on the open market; the promoter recovers costs plus a fee (~15–30% of net proceeds) and the owner keeps the rest. Aligns both parties to maximise price.

Owner share of net proceeds
7085%
GB

Option Agreement

☪ Sharia-OK

Developer pays a small option fee for the exclusive right (3–10 years) to buy the land after securing planning, at market value minus an agreed discount (typically 10–25%).

Purchase price (of market value)
7590%
GBUS

Forward Funding / Forward Sale

An institution buys the land day one and funds construction in draws (forward funding), or contracts to buy the completed building at a fixed price (forward sale). The developer earns a development margin; the owner usually exits cleanly at the land sale.

Investor discount to end value
515%
GBDEFRESPTUS

Development Management + Profit Share

☪ Sharia-OK

Owner keeps ownership and funds the project; the developer acts as development manager for a base fee (2–5% of cost) plus a promote (10–30% of profit above a hurdle). Effectively a JV without a land transfer.

Developer promote (of profit above hurdle)
1030%
GBUSAESACNDE

Landowner Mezzanine / Deferred Consideration

Owner sells to the developer's SPV but leaves 30–70% of the price in as a loan (second charge behind the senior lender) or as deferred payments tied to sales milestones — the owner becomes the project's mezzanine lender at ~8–15%.

Deferred portion interest (p.a.)
815%
GBUSAE

BOT / DBFOT Concession

☪ Sharia-OK

Mostly for public or institutional land: the developer designs, builds, finances and operates for 20–50 years, paying an upfront premium and/or revenue share, then transfers the asset back.

Grantor revenue share
215%
INEGCNSAPK

Net-Profit Joint Venture

☪ Sharia-OK

Parties define allowable costs, the developer builds and sells, and net profit (after defined costs, fees, finance and a profit waterfall) is split by agreed percentages, often with a preferred return and minimum guarantee.

Owner share of net profit
2050%
AESAINEGGBUS

Gross-Revenue Joint Venture

☪ Sharia-OK

Owner takes a percentage of gross sales/rental/operating revenue, escrow-controlled, often tiered by threshold with a minimum guaranteed payment.

Owner share of gross revenue
2040%
INEGSAAE

GFA-Based Joint Venture

☪ Sharia-OK

Approved GFA is allocated between parties as building/floor/unit entitlements, with value-equalisation and conversion from GFA to NSA/NFA at an agreed efficiency ratio.

Owner share of GFA
3050%
INAESAEG

NSA / Saleable-Area Joint Venture

☪ Sharia-OK

Split defined on net saleable/leasable area by use (residential/retail/office/hotel) rather than gross GFA, isolating the owner from efficiency risk.

Owner share of NSA
2545%
INAEGB

Ready-Stock Partnership

☪ Sharia-OK

Owner receives completed, income-ready assets (villas, apartments, offices, hotel rooms, warehouses, parking) of defined type/size/floor/view/value at a handover date, value-equalised against the land contribution.

Owner share as finished units
2545%
AESAINEG

Fixed Land Price

☪ Sharia-OK

Land bought at a fixed price, paid upfront, deferred, by milestone, from project sales/finance, in annual instalments or a cash-and-units mix, secured by escrow and (if deferred) a profit/interest rate.

Deferred-portion rate (p.a.)
012%
AESAINGBUSEG

Land-Cost Multiple

☪ Sharia-OK

Owner receives an agreed multiple of the initial land value (e.g. 1.25×, 1.5×, 2×) as final entitlement, split cash/units on a payment schedule with a security package; implies a target annualised return.

Land-value multiple
1.252%
AESAIN

Hybrid Partnership

☪ Sharia-OK

Any combination of cash, annual rent, upfront premium, GFA/NSA/ready-stock, net-profit or gross-revenue share, equity, preferred return, minimum guarantee and public-service/infrastructure obligations tuned to both parties.

Blended — components vary
00%
AESAINEGGBUSDE

Long-Term Commercial Lease

☪ Sharia-OK

Fixed/escalating/indexed/turnover rent (or base + turnover) with an upfront premium, rent-free development period, renewal, assignment, sublease and financing rights, and development/handover/reinstatement obligations.

Base rent (of land value, p.a.)
48%
AESAGBUSDEIN

Build-Own-Operate-Transfer (BOOT)

☪ Sharia-OK

Private party finances, builds, temporarily owns and operates the asset, then transfers ownership to the authority at concession end; lenders and grantor hold step-in rights and residual-value/handback terms are defined.

Grantor revenue/premium share
215%
INEGSAPKCN

Build-Own-Operate (BOO)

☪ Sharia-OK

Private party builds, permanently owns and operates under licence/regulation with no transfer; land rights, tariffs, service standards and government oversight are set by contract/regulation.

Regulated return / tariff basis
615%
USGBSAAE

Build-Transfer-Operate (BTO)

☪ Sharia-OK

Private party builds and immediately transfers ownership to the authority on completion, then operates under an operating agreement for a fee against performance standards.

Operating payment / fee
28%
CNINSA

Design-Build

☪ Sharia-OK

A single contractor takes design and construction under one contract — fixed-price, cost-plus, GMP, two-stage, fast-track or contractor-led — with optional consultant novation and early-contractor involvement.

Contractor margin (of cost)
515%
AESAUSGBINEG

Design-Build-Finance (DBF)

☪ Sharia-OK

Contractor designs, builds and finances construction, with the authority repaying via deferred/milestone payments at an agreed financing rate against a completion certificate.

Financing rate (p.a.)
49%
SAAEEGIN

Design-Build-Finance-Operate (DBFO)

☪ Sharia-OK

Private party designs, builds, finances and operates for the concession, paid via availability payments, user charges or government payments, subject to performance deductions.

Equity IRR (target)
815%
GBSAAEIN

Design-Build-Finance-Operate-Maintain (DBFOM)

☪ Sharia-OK

Full-lifecycle PPP: private party designs, builds, finances, operates and maintains — including lifecycle replacement — under a performance regime with service KPIs and handback/residual-life obligations.

Equity IRR (target)
814%
GBUSSAAE

Design-Build-Operate-Maintain (DBOM)

☪ Sharia-OK

Private party designs, builds, operates and maintains, while the authority (or a third party) funds the capital — bundling delivery and operations without private finance.

O&M fee / margin
310%
USSAAE

Public-Private Partnership (PPP)

☪ Sharia-OK

Long-term contract where the private party delivers and/or operates a public asset/service under a payment mechanism (government-pay, user-pay or hybrid) with a defined risk-allocation matrix.

Equity IRR (target)
815%
GBSAAEINEGUS

Concession

☪ Sharia-OK

The authority grants a private party the right to operate (and often build/rehabilitate) an asset and collect user charges for a defined period, paying a concession fee/revenue share and transferring the asset back at expiry.

Concession fee / grantor share
220%
EGINSAAEPKCN

Rent-to-Own

☪ Sharia-OK

Occupier/operator leases land, buildings or assets with rent partly crediting toward an eventual purchase at a pre-agreed price, transferring ownership once conditions are met.

Rent (of asset value, p.a.)
510%
AESAEGUS

Lease-Develop-Operate (LDO)

☪ Sharia-OK

Private party leases an existing asset/land, develops or upgrades it, and operates it for the lease term, paying rent and often a revenue share; the asset stays with the authority.

Rent + revenue share
312%
INSAAE

Lease-Develop-Transfer (LDT)

☪ Sharia-OK

Like LDO but the developed asset transfers to the authority at the end of the lease rather than continuing to be operated by the private party.

Rent + capex recovery
310%
INSA

Rehabilitate-Operate-Transfer (ROT)

☪ Sharia-OK

Private party rehabilitates an existing (often distressed) asset, operates it to recover investment plus return, then transfers it back to the authority.

Operating revenue share
520%
EGINPK

Rehabilitate-Own-Operate (ROO)

☪ Sharia-OK

Private party rehabilitates and then permanently owns and operates the asset under regulation — no transfer back.

Regulated return
615%
USGBSA

Operate-and-Maintain (O&M)

☪ Sharia-OK

Private operator runs and maintains an asset for a fee (fixed and/or performance-based) against KPIs; no capital or ownership transfer.

O&M fee (of opex)
28%
AESAUSGBIN

Management Contract

☪ Sharia-OK

Operator manages the asset/business for a base management fee plus an incentive fee tied to performance, with the owner retaining ownership and most operating risk.

Base fee (of revenue) + incentive
28%
AESAEGUSGB

Government Availability Payment

☪ Sharia-OK

Authority pays the private party a periodic availability payment provided the asset is available and meets performance standards, insulating the private side from demand risk; deductions apply for unavailability/underperformance.

Availability payment (equity IRR)
712%
GBSAAEUS

Government Revenue Guarantee

☪ Sharia-OK

Authority guarantees a minimum revenue/traffic/occupancy/purchase level (with upside sharing above a band), de-risking demand for the private party; take-or-pay and capacity payments are cousins.

Guaranteed floor (of base case)
6090%
INSAEGCN

Offtake Contract

☪ Sharia-OK

A creditworthy offtaker (often government) commits to buy the project's output — power, water, treated waste, capacity — at an agreed tariff for a long term (power/water purchase or take-or-pay agreements), underpinning project finance.

Contracted tariff (equity IRR)
814%
SAAEEGINPK

Asset Recycling / Monetisation

☪ Sharia-OK

Authority leases or concessions a mature, income-producing public asset to private investors for an upfront capital sum, recycling the proceeds into new infrastructure while retaining ownership and reversion.

Investor yield
612%
USAEINSA

Sale and Leaseback

Owner sells the asset to an investor and immediately leases it back on a long lease, freeing capital while retaining use; rent, term, buyback options and repair obligations are the key terms.

Lease yield (of asset value)
59%
USGBDEAESA

Cost-Plus Contract

☪ Sharia-OK

Contractor is reimbursed actual costs plus an agreed fee/margin; suits uncertain scope but shifts cost risk to the client, often capped or converted to GMP.

Contractor fee (of cost)
512%
USGBAESA

Guaranteed Maximum Price (GMP)

☪ Sharia-OK

Contractor guarantees a ceiling price; costs below the cap are shared (pain/gain), costs above are borne by the contractor — blending cost-plus transparency with price certainty.

Savings share to owner
5080%
USGBAESA

Turnkey Contract

☪ Sharia-OK

Contractor delivers a fully complete, ready-to-operate facility for a fixed price, handing over the 'key' — maximum single-point responsibility including commissioning.

Contractor margin (of cost)
818%
AESAEGINPK

Engineering-Procurement-Construction (EPC)

☪ Sharia-OK

Contractor delivers engineering, procurement and construction under a lump-sum turnkey contract with performance guarantees — the infrastructure/industrial delivery standard.

EPC margin (of cost)
815%
SAAEEGINPKCN

EPC + Finance (EPCF)

☪ Sharia-OK

EPC contractor also arranges/provides construction finance, repaid by the client over time — combining lump-sum delivery with a financing package.

Blended EPC + finance rate
612%
EGPKSACN

EPC Management (EPCM)

☪ Sharia-OK

Contractor manages engineering, procurement and construction as the client's agent for a fee, with the client holding the works contracts and cost risk directly.

EPCM fee (of cost)
38%
AESAUSGBIN

Unsolicited Proposal

☪ Sharia-OK

A private party proposes a project the authority did not tender; the authority evaluates it and, if it proceeds, either negotiates directly (with protections) or takes it to competition — often via Swiss Challenge.

Proponent advantage / cost recovery
00%
INEGPKSAAE

Swiss Challenge

☪ Sharia-OK

After an unsolicited proposal, the authority publishes it and invites competing bids; the original proponent gets a right to match (or is compensated) if a better bid emerges — combining origination incentive with competitive tension.

Right-to-match threshold
00%
INPKEGPH