By Progress Godfrey
Periwinkle Empire has partnered Bozac Continental Limited and Legacy Automobile Limited in a joint venture to develop a luxury high-rise condominium in Banana Island, Ikoyi, Lagos.
The tripartite agreement, signed by senior executives of the three firms, will deliver a residential tower on a 3,000 square metre waterfront adjacent site at 101 Close, Off 1st Avenue, beside Ocean Parade Towers.
Speaking at the signing, Chairman and Chief Executive Officer of Periwinkle Empire, Dr Chiedu A. Nweke, said the partnership was built on long-standing relationships and shared values 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, Chairman and Chief Executive Officer of Bozac Continental Limited, Sir Patrick Ikechukwu Chibueze, described the collaboration as a deliberate move based on Periwinkle Empire’s track record.
He said, “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.”
Chairman and Chief Executive Officer of Legacy Automobile Limited, High Chief Sir Okey Ezibe, said the initiative was aimed at maintaining the status of Banana Island while creating lasting 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 execute the project, Managing Director of Periwinkle Condos, Tunde Olatunji, will lead the development, while Buildisa Construction FZE has been appointed as lead contractor, with company officials confirming that groundwork and design processes are already underway ahead of construction expected within the current fiscal quarter.
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