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Periwinkle Empire has entered into a tripartite joint venture with Bozac Continental Limited and Legacy Automobile Limited to develop a luxury high-rise condominium in Banana Island, Ikoyi, Lagos.
The agreement, signed at a ceremony attended by senior executives of the three firms, will see the development of a residential tower on a 3,000 square metre waterfront-adjacent plot located at 101 Close, Off 1st Avenue, beside Ocean Parade Towers.
Speaking at the signing, the Chairman and Chief Executive Officer of Periwinkle Empire, Dr. Chiedu A. Nweke, attributed the seamless execution of the deal to the long-standing relationship among the parties.
“What made this agreement exceptionally smooth is the simple fact that all the chairmen here are friends before business partners. Beyond that, the reputation of Periwinkle Empire as a developer that delivers what it promises is what attracted these distinguished parties to us. This is not just a transaction; it is a meeting of trust, vision, and longstanding mutual respect,” he said.
Also speaking, the Chairman and Chief Executive Officer of Bozac Continental Limited, Sir Patrick Ikechukwu Chibueze, said the decision to partner with Periwinkle Empire was deliberate and strategic.
“We did not simply seek any developer. We sought Periwinkle Empire because of their proven track record in delivering iconic structures. Legacy Automobile Limited and ourselves are confident that this land, one of the finest remaining plots in Banana Island, will now host a masterpiece,” he stated.
On his part, the Chairman and Chief Executive Officer of Legacy Automobile Limited, High Chief Sir Okey Ezibe, said the partnership was designed to preserve the prestige of the location while delivering value.
“We came with our representatives because this agreement is meticulous and far-reaching. Periwinkle Empire has our full backing. This will be a development that Banana Island will point to with pride for generations,” he added.
To drive the project, the Managing Director of Periwinkle Condos, Tunde Olatunji, popularly known as “Mr. Condos,” has been appointed to lead the development alongside his team, while Buildisa Construction FZE will serve as the lead contractor.
Also present at the event were members of the Periwinkle Empire delegation, including the Group Chief Financial Officer, Patience Adama; the General Manager of Periwinkle Condos, OnyeBuchi Emefiene; the Group General Manager, Victor Enyingwa; and the Group General Manager, Commercial, Engr. Kumar Das.
Officials of the company disclosed that groundwork and design finalisation had commenced, with construction expected to begin within the current fiscal quarter, adding that the project would feature ultra-luxury condominiums, private amenities, and panoramic waterfront views.
Periwinkle, partners seal deal for Luxury High-Rise Condo in Banana Island
