Periwinkle, Partners Sign Joint Venture For Luxury High-Rise In Banana Island
Periwinkle Empire has entered into a joint venture with Bozac Continental Limited and Legacy Automobile Limited to develop a luxury high-rise condominium in Banana Island.
The tripartite agreement, formalised at a signing ceremony attended by top executives from the three firms, will see the construction of a premium residential tower on a 3,000-square-metre waterfront-adjacent site located off 1st Avenue, near Ocean Parade Towers.
Chairman and CEO of Periwinkle Empire, Chiedu A. Nweke, described the partnership as a natural progression of long-standing relationships among the parties. He noted that trust, shared vision, and the company’s reputation for delivering quality developments played a key role in sealing the deal.
Similarly, Patrick Ikechukwu Chibueze, Chairman of Bozac Continental Limited, said the collaboration was a deliberate choice, citing Periwinkle’s track record in delivering landmark projects. He expressed confidence that the development would transform one of the most sought-after plots in Banana Island into a standout structure.
Also speaking, Okey Ezibe, Chairman of Legacy Automobile Limited, emphasised that the project is designed to maintain the exclusivity and prestige associated with the location while delivering long-term value.
To oversee execution, Managing Director of Periwinkle Condos, Tunde Olatunji, will lead the development team, while Buildisa Construction FZE has been appointed as the lead contractor.
Company officials revealed that preliminary work, including design finalisation and groundwork, is already underway, with construction expected to commence within the current quarter.
The project is set to feature ultra-luxury apartments, exclusive resident amenities, and sweeping waterfront views, positioning it as one of the flagship developments in Lagos’ high-end real estate market.
