Purple Announces New Tenants In Purple Lekki To Expand Investment

Purple Real Estate Income Plc (“PREIP” or “Purple”), Nigeria’s breakthrough real estate investment platform, has announced that the group has signed a series of agreements with high-profile retailers and businesses including Tommy Hilfiger, Levis’, and Aldo – to become new tenants and partners at PurpleLekki – a new 38 square metre development responding to the growing demand for all-inclusive living and domestic retail.

The growing availability of brands like Tommy Hilfiger, Levis’ and Aldo is a response to urbanisation, as well as demand from Nigeria’s retail consumer market for more diversity in the domestic retail sector. NIgeria’s increasingly discerning consumers are seeking the world class retail, entertainment and lifestyle experience that Purple offers.

“PurpleLekki, scheduled to open in 2023 is a premier property in an attractive location offering a unique combination of lifestyle, entertainment and retail propositions. These commitments from high profile tenants demonstrate our on-going ability to attract top brands who see the potential in Nigeria’s retail market and Purple’s positioning within it”, said Laide Agboola, Chief Executive Officer, Purple.

Other new additions include businesses providing optometry, healthcare, pharmaceuticals, beauty and relaxation services including Medplus, Soteria Eye Clinic, Pharmacare, Salon De Parfum, and others – bringing the rising number of new tenants to 26 by the end of 2022.

Retailers join anchor tenants Genesis Cinemas, and The Ventures Park contributing to the high-quality residential, retail, entertainment, hospitality and co-working spaces creating new jobs and collaboration among tech-empowered communities – making Lekki an even more desirable place to work, live, and thrive.

The development will also launch Citadines, a suite of new serviced apartment offerings, where a commitment to customer service typical to luxury hotel settings will be brought to the comfort of occupants living at home.

As a testament to our popularity, PurpleLekki’s residences are sold out and the retail spaces are 98% let. This pioneering lifestyle management service will be delivered in partnership with The Ascott Limited, one of the world’s leading owners and operators of serviced residences and seeks to offer occupiers the extraordinary.

“Since 2016, Purple’s has led a progressive strategy to expand, upgrade and refine its portfolio of commercial and residential properties in major business areas, consolidating its leadership position in lifestyle centric mixed use developments.

The level of investor and retailer interest in the proposition at PurpleLekki is a strong endorsement of that model and we can’t wait to open our doors”, said Seyi Sowale, Group Executive Director, Purple.