Its recent deal with The Ascott Limited and plans to raise about N30bilion from the capital market as well partnership with Bank of Industry and other major financial institutions in the country to launch PurpleLekki by the end of this year, are expected to take the company to new heights.Purple Group is Nigeria’s institution at the forefront of real estate investment in the country.
“The Sukuk bonds were issued to finance the construction of 94 out of 112 housing units in an urban residential development of mainly 4 bedroom semi-detached maisonettes and penthouses, as well as 2, 3 and 4 bedroom apartments just off Freedom Way in Lekki Phase 1, Lagos, Nigeria,” the company said.
The new construction is backed by financing from the Bank of Industry and guarantees from Keystone Bank. 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. 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 occupants 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.
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