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Home Companies Corporate Updates

Merger of Purple Real Estate Income, Purple Real Estate Devt  for growth acceleration

NM Partners by NM Partners
June 14, 2022
in Corporate Updates
Merger of Purple Real Estate Income, Purple Real Estate Devt  for growth acceleration
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Purple Real Estate Income Limited (PREIL), Nigeria’s breakthrough real estate investment platform, today announced the completion of a merger with the Purple Real Estate Development Company Limited (PREDCO), the real estate development arm of the Purple Group.

PREIL and PREDCO share the same mission of democratising access to real estate investment and ownership in Nigeria by breaking down the barriers that prevent investors from owning real estate assets. As a combined company, the new entity will deliver the integrated ownership, investment, development, management, sales, leasing and acquisition of superior multi-use facilities, including residential, commercial, hospitality infrastructure and prop-tech developments.

This merger establishes the foundation for the next phase of Purple Group’s growth plan to accelerate the pace and scale at which it provides targeted, premium and affordable lifestyle offerings in strategic locations across Nigeria – delivering technology-enabled services and value-addition to clients and partners.

RelatedStories

G.Jayeola Okuazun, General Manager, Ventures Park; Chinonye Nwatu, Area Operations Manager, Sundry Markets; Laide Agboola, Chief Executive Officer, Purple ; Nafisah Abubakar, Director, Ventures Park, Seyi Sowale, GED – Finance and Strategy, Purple.

Purple Real Estate Group releases it’s unaudited results for the first quarter ended 31 March, 2022

July 13, 2022

The new entity enhances Purple’s ability to scale the business and access appropriate financing to fund a strong pipeline of new projects, expand current services and better deliver against the growing demand for experience-driven solutions that meet the evolving needs of how communities now live and work.

In his remarks, Co-Founder & CEO, Purple Laide Agboola, noted, “This merger creates the platform for the next phase of our growth, consolidating the assets in our real estate division and delivering operational efficiencies across our internal value chain, while positioning us to access and deliver new, large scale business opportunities. We know that there is significant demand for modern, integrated real estate developments in Nigeria that meet the increasing demand for projects that support modern lifestyles, integrating residential, commercial, entertainment and technology solutions. Purple is more than just a real estate company, Purple is a real estate revolution delivering the needs of a new generation demanding much more from property.”

About Purple

Purple is Nigeria’s breakthrough real estate and financial services platform at the forefront of a real estate revolution. With investments in the development, management, and acquisition of superior multi-purpose properties and infrastructure across a wide range of sectors to democratise access to real estate ownership and investment, Purple is breaking down the barriers that prevent investors from the gains of appreciating assets.

PREIL commenced operations in 2014 and is responsible for developing the Maryland Mall, a Grade-A mixed-use centre that also boasts the largest outdoor LED screen in West Africa.

To discover more and join the Purple community, visit purple.xyz

 For media inquiries please contact

Emmanuel Balogun

ebalogun@africapractice.com

For investor inquiries please contact:

Obinna Onunkwo

Investors@purple.xyz


Follow us for Breaking News and Market Intelligence.
Tags: Purple Real Estate DevtPurple Real Estate Income
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

Related Posts

G.Jayeola Okuazun, General Manager, Ventures Park; Chinonye Nwatu, Area Operations Manager, Sundry Markets; Laide Agboola, Chief Executive Officer, Purple ; Nafisah Abubakar, Director, Ventures Park, Seyi Sowale, GED – Finance and Strategy, Purple.
Corporate Press Releases

Purple Real Estate Group releases it’s unaudited results for the first quarter ended 31 March, 2022

July 13, 2022
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