Purple Real Estate Income limited (“PREIL”), Nigeria’s breakthrough real estate investment platform, has signed agreements with Genesis Cinemas, Market Square and The Ventures Park to be the anchor tenants and partners at the PurpleLekki, a new development scheduled to open in late 2022.
The 38,000 square metre Purple Lekki will encompass a premium 157-unit mixed-use development that blends high-quality residential, retail, entertainment, hospitality and co-working spaces to tap into the increasing demand for all-inclusive living.
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The new construction is backed by financing from the Bank of Industry and guarantees from Keystone Bank.
Daily Trust reports that it forms part of an ongoing programme to build strategic alliances with domestic and international development partners to construct and deliver premium assets in prime locations.
Located on Freedom way, in Lekki Phase 1, Lagos, the development will feature a selection of new restaurants and concept bars, among other means of entertainment or relaxation, as part of the firm’s experiential offering, Purple Play.
In addition to modern private offices, department stores and boutiques, PurpleLekki will include a dedicated tech and data centre to support business tenants and enable collaboration among tech-empowered communities that require state-of-the-art working infrastructure – making Lekki an even more attractive place to live, work and thrive.
The development also includes Citadines, a new serviced apartment offering for occupiers, where a commitment to customer service ordinarily experienced within a high-end hotel setting will be brought to the comfort of occupiers living at home.
This unique living experience will be delivered in partnership with The Ascott Limited, one of the world’s leading owners and operators of serviced residences.
Chief Executive Officer, Purple, Laide Agboola, at the signing event and a tour of the project reaffirmed Purple’s mission and increased ambition to scale up investment and accelerate growth in Nigeria’s real estate sector.
He said, “PurpleLekki enables holistic living, encouraging inclusion and communities, best-in-class entertainment and productive atmospheres for work that enable social and economic mobility and opportunity.
Purple is so much more than just a real estate company; we are shaping the market for real estate in the future and helping to define how a new generation wants the world to be. In Purple, you have a partner ready to realise a vision that creates space for us all.”
Chief Executive Officer, Market Square, Mr Ebele Enunwa explained that the tenancy agreement to house its second outlet in Lagos “signals the success of our first in PurpleMaryland and the next step of a progressive partnership that enables us to continue to meet Nigeria’s everyday needs.”
Chairman, The Ventures Parks, Kola Aina, said, “We are delighted to leverage the PurpleLekki property development as we upgrade and scale our offering across the country and beyond to support the success of a new wave of startups, technopreneurs, and innovators that bring about the world of tomorrow today.”
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