Purple Group is poised to meet this need through the Purple Living concept that will see it providing premium and affordable housing units in choice locations around the metropolis starting with the unique Lekki and Maryland projects.
Purple Group brings a whole new concept into home ownership. The rising cost of rents in a cosmopolitan city, such as Lagos puts home ownership and real estate investment on the top list of priorities for an income earner. To ease the financial burden associated with a large ticket investment such as real estate investment, the whole Purple Living initiative incorporates structured payments which will further offer maximum customer satisfaction and an unbeatable long-term return on investment
Apart from providing much-needed housing units to bridge the estimated 18 million housing deficit in the country, the mixed-use development, which is an urban village plan of placing residences close to essential services and entertainment, is also a veritable means of wealth creation for savvy investors.
Many a time, ambitious pioneering projects face serious liquidity problems that may not totally ground the project, but would affect deadlines for completion thereby eroding profitability projections. The Purple Group has circumvented this problem by its strategic alliance with key financing institutions in both the public and private sectors.
A key partner is the nation’s premier financing institution, the Bank of Industry, which sees the huge potential for the economy on many fronts. Apart from addressing the important issue of housing shortages in the urban area, Purple Lekki will also provide a boost to the entertainment industry. This futuristic model will certainly play host for the shooting of many movies coming from the stables of the Nigerian film industry, Nollywood. This is in addition to the on-ground cinemas that will further increase the takings on domestic blockbuster movies.
Another key backer of this innovative project is Keystone Bank, a major player in the Nigerian banking sector. This private sector participant will certainly be on the lookout for how best to maximise the overall profitability of the project for all stakeholders.
In a bid to meet needs across a broad spectrum of investors, Purple Group has also issued Sukuk bonds to finance its property development. The bonds are halal products that meet the religious requirements non-interest bearing investment.
Given its professionalism and track record for meeting deadlines, Purple Group is set on delivering its first batch of Purple Living innovative developments on record time commencing Q2 2022.
The Purple Group commenced business in 2010 as an investment firm through synergies and continuous partnerships, delivering and creating lifestyle experiences through investments in superior mixed-use facilities, real estate, finance and entertainment across Nigeria.
* Mr. Olaide Agboola is the Group Chief Executive Officer of Purple Group