Nigerian Firm Launches $150m 20-Storey Royalties Abuja Condominium Project
- Periwinkle Empire signed a consortium agreement with Prime Luxury Address Ltd on October 6, 2026, to develop a luxury residential tower in Abuja's Central Business District
- The 20-storey Royalties Abuja project is valued at over $150 million and sits opposite the United States Consulate in the capital
- Al Mansour Contracting Limited will handle construction, with the project targeting LEED certification for sustainability and energy efficiency
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Periwinkle Empire has announced its debut in Abuja's real estate market through a $150 million, 20-storey luxury residential tower to be built in the city's Central Business District.
The company formalised its entry on Tuesday, October 6, 2026, when it signed a consortium agreement with Prime Luxury Address Ltd and received a formal handover of the project site. The development, named Royalties Abuja, is located directly opposite the United States Consulate.
Source: Original
Royalties Abuja: What the developers said
Chairman of Prime Luxury Address Ltd, Dr Peter Adejoh, said the collaboration was designed to raise the standard of premium residential development in the capital. He added that the project would generate employment for professionals, artisans, and young Nigerians.
"Royalties Abuja represents more than another addition to the capital's skyline. It is a deliberate investment in quality, employment and the future of Abuja's real estate market," Adejoh said.
For Periwinkle Empire Chairman, Dr Chiedu A. Nweke, the project marks the company's first significant move outside Lagos.
Nweke, widely referred to as the "King of High Rise," said Abuja's strategic importance and its premium land locations made it a natural choice for expansion. He noted that the company's track record with high-rise developments in Lekki Phase 1, Lagos, had equipped it for this next phase of growth.
Following the agreement signing, both parties moved to the site for a formal transfer of the land to Periwinkle Empire and its main contractor, Al Mansour Contracting Limited.
Construction and advisory team
The contractor's representative, Engr Wael Mansour, said the firm would apply international engineering and construction standards throughout the build.
He added that the tower would incorporate modern design and finishing, with the project targeting LEED certification to meet sustainability, energy efficiency, and environmental benchmarks.
Tunde Olatunji, Managing Director of Periwinkle Condos, described Royalties Abuja as one of the most significant residential projects the capital has seen, saying it would lift expectations around luxury, comfort, and investment returns in the city.
Nollywood actor Ikechukwu "IK" Ogbonna, who attended the signing ceremony, welcomed the project and spoke about his broader interest in contributing to Nigeria's economy through real estate.
Detail Commercial Solicitors is serving as lead counsel on the transaction, while Deloitte has been appointed as financial and transaction adviser.
Source: Getty Images
The developers said job creation remains a central goal, both during the construction phase and after the building is completed. They also expect the project to boost businesses and economic activity in the surrounding area.
Periwinkle Empire's move into Abuja follows its established presence in Lekki Phase 1, Lagos, where the company has built its reputation as a high-rise and luxury property developer.
Where Nigerians can still buy plots from N3.5m
Legit.ng earlier reported that for Nigerians hoping to own land in Lagos or Abuja, the assumption is often that purchasing a plot in either city now requires tens of millions of naira.
Current property asking-price data, however, paints a more complicated picture.
Source: Legit.ng
