BusinessDay

Purple’s new devt excites market with 3 firms signed as anchor tenants

…partners Ascott to deliver short, long stay apartments

Purple Real Estate Income limited (PREIL), a real estate development and investment firm, says it has signed on Genesis Cinemas, Market Square and The Ventures Park as anchor tenants and partners at its new development in Lagos.

The new development, known as PurpleLekki, is scheduled to open in late 2022. It sits on 38,000 square metres and boasts a premium 157-unit mixed use facilities, comprising high quality residential, retail, entertainment, hospitality and co-working spaces aimed to respond to the growing demand for all-inclusive living.

PurpleLekki, according to PREIL authorities, backed by financing from the Bank of Industry and guarantees from Keystone Bank. It forms part of an the firms ongoing programme to build strategic alliances with domestic and international development partners to 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 called Purple Play.

In addition to modern private offices, department stores and boutiques, PurpleLekki will also offer a dedicated tech and data centre to support business tenants and enable collaboration among tech-empowered communities that require top-notch infrastructure that make Lekki an 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 experienced within a high-end hotel setting will be brought to the comfort of occupiers in their homes.

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.

“Purple has a mission and increased ambition to scale up investment and accelerate growth in Nigeria’s real estate sector,” Laide Agboola, Purple’s chief executive officer, said at the signing event with Ascott.

“PurpleLekki enables holistic living, encouraging inclusion and communities, best-in-class entertainment and productive atmosphere for work that enables social and economic mobility and opportunity,” he added.

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According to him, Purple is so much more than just a real estate company, explaining that they were shaping the future of the real estate market 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,” Agboola assured.

Ebele Enunwa, the chief executive officer of Market Square, noted that Market Square had fast become a household name and the go-to grocery retail store for Nigerians in need of products they could trust at a valued price.

He noted further that the Market Square story could not have been written without their partnership with Purple. “Signing this tenancy agreement to house our second outlet in Lagos signals the success of our first signing in PurpleMaryland and the next step of a progressive partnership that enables us to continue to meet Nigeria’s everyday needs,” Enunwa said.

Kola Aina, chairman, The Ventures Parks, noted that Nigeria is a nation where entrepreneurship abounds, pointing out however that talent could not pursue its goals or achieve its objectives, compete nor win big without an environment that harnesses home-grown potential.

“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,” he said.

The chairman of Genesis Cinemas, Nnaeto Orazulike, disclosed that he had stopped doubting the capability of Purple. “I am always amazed at their audacity; I trust their determination. We at Genesis Group are committed to building world class multi-use facilities in partnership with Purple,” he assured.

 

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