When the developers of PurpleLiving facility set out for the housing market in Nigeria, the drive was not just to contribute to solving the country’s housing deficit by providing homes for Nigerians, but also to offer Nigerians opportunity for wealth creation.
The relatively upscale facility which is being developed by Purple Group is situated in the heart of Maryland in Lagos where the group’s flagship development, the PurpleMall , formerly called Maryland Mall, is also located.
“With PurpleLiving, which was designed to help to address the 20 million housing deficit in the country and create wealth, we provide Nigerians with an opportunity to own premium, gated, and affordable homes in the heart of Maryland and Lekki with flexible payment plans,” Laide Agboola, the Group’s CEO, revealed.
Homes are essential, according to the group who are out to deliver 1000 homes. They explained that the ongoing Covid-19 pandemic has pointed to the reality that more corporate workers and entrepreneurs are spending more time at home. This has, in turn, brought about the need to invest in new homes or secure their savings in real estate investments over other financial instruments.
Agboola, who gave these hints at a Nigeria Real Estate Market Outlook meeting hosted by Northcourt Real Estate in Lagos recently, informed that Purple was working to facilitate homeownership and real estate investment while preserving standard living.
“With rising rents in Lagos, structured payments have also been created, which will offer customer satisfaction and an unbeatable long-term returns on investment,” he said.
“With Purple Living, investors are given the opportunity to make fortunes from their property investment. Essentially, discerning investors could generate huge returns from their investment in property as well as create a portfolio of property investment with a view to building wealth,” he added.
Agboola pointed out that Purple is focused on providing top facility management and services while developing more properties that fit into future smart-cities. Developments are to follow an urban village model, mixed-use assets where residences are in close proximity to essential and entertainment facilities.
“Purple will help transform the landscapes of urban communities and place Nigeria at the forefront of development in Africa,” he assured.
Purple Living consists of three major projects. First are the Nano apartments right in the heart of the current mixed-use ‘Urban Village’ facility called Purple Lekki which is also currently under construction in Lekki Phase 1 and expected to be completed between Q4 2021 and Q1 2022. It comes fully serviced with proximity to commercial cities and other communal social amenities.
The Macro apartments are premium and modern residences situated on the mainland and consists of one, two and three bedrooms.
The Urban apartments are strictly residential and gated developments also within the Lagos metropolis. These developments will be a mix of fully detached duplexes, semi-detached duplexes, pent apartments and 3 and 4 bedroom apartments.
The Nigeria Real Estate Market Outlook event also had in attendance other top business executives and investors including CEO of Northcourt, Tayo Odunsi; Director of Actis, Funke Okubadejo; CEO Dutum Construction, Temitope Runsewe; and Associate Director at Ernst & Young, Sandra Momah.
Purple Group, formerly known as Purple Capital was founded in 2010 as an investment firm creating lifestyle experiences through investments in superior mixed-use facilities, real estate, finance and entertainment across Nigeria. The company has the vision to shape the future by redefining the real estate industry globally.
