Periwinkle Residences Limited is set to invest $20 million in the construction of a 15-storey luxury lifestyle condo in the Eko Atlantic City project.
This was disclosed by the Chief Executive Officer of the real estate firm, Chiedu Nweke, at the sign-off ceremony for the acquisition of 2,400 square meters of land at Eko Atlantic City.
According to Nweke, the company intends to make a statement that smart cities in Singapore and Dubai can also be replicated in Nigeria.
“The intention of the Pan Atlantis Condos was to challenge similar developments, the likes of which you find in Singapore and Dubai,” he said.
He explained that the journey started when the company, in 2009, met with the chairman of Eko Atlantic City and promised to collaborate with him to provide world-class luxury condos.
“We are not here to build run-of-the-mill condos; we want to send a clear message that there are also big players in Nigeria capable of doing big things.
“The project, which is primarily to project modern lifestyle, would be delivered in 30 months and is targeted at high-net-worth individuals and the diaspora, with the aim of driving foreign direct investment to the country,” he added.
The Managing Director, Eko Atlantic, David Frame, said, “The concept is to develop a world-class city matching global standards and to achieve that, we need to move as a team.”
The Chief Operating Officer, Tunde Olatunde, stressed that the company’s vision “is to build the biggest and tallest condos in Nigeria and Africa,” with the project expected to churn out luxury three-bedroom condos to be sold off in a flexible payment schedule, spread over 30 months.
Source: Nairametrics
