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Investors Are Making Millions from Shortlet and Rental Options in Victoria Island

The Real Estate market remains one of the safest and surest industries to invest in with a guaranteed return. In Nigeria, real estate is a serious business, with a big goldmine in the rental and shortlet options, and despite the unsteady economy, and rising inflation, many investors continue to smile at the banks.

However, in spite of this, it is very important to pay attention to the property location as this determines how much returns can be guaranteed. There are several locations where you can be rest assured of a good return on investment, one of which is Victoria Island, Lagos. With most major Nigerian and international corporations headquartered here, Victoria Island is one of Nigeria’s busiest centers of banking and commerce. The Island is filled with stylish nightclubs, bars, posh hotels, fine restaurants that serve both European cuisine and Nigerian staples, the Muson center and Terra Kulture arts center. It is not just the main entertainment, business and financial hub of Lagos state, Nigeria, it is one of the most exclusive and expensive areas to reside in.

To take advantage of the numerous opportunities that Victoria island has to offer, Periwinkle Condos Limited is introducing Atlantis Tower, a premium high rise condo, to savvy investors ready to enjoy the city’s benefits and experience what sophisticated living truly means.

Atlantis Tower is a 16 floors architectural beauty that is set to redefine the expectations of condo living in Nigeria to match Canadian and American standards. It consists of 1, 2 and 3 bedrooms condos, maisonettes and a penthouse. It is strategically located on Bishop Aboyade Cole street, a calm and serene area, away from the craziness of Lagos traffic, but easily accessible to major areas like Ikoyi and Lekki. With world class amenities, recreational facilities and 24hrs concierge services, Atlantis Tower gives a clear meaning of the Live, Work and Play Lifestyle.

A Fresh Buy-to-Let Opportunity

What makes the Atlantis Tower more attractive is that very few options in Victoria Island can match its features and amenities. The Condos provide investors with a fresh opportunity to capitalize on the lack of available quality short-term rental accommodation in Victoria Island, Lagos. With the flexibility to rent nightly, weekly, monthly (or longer), the 1 & 2 bedroom condos   are perfect for private and corporate tenants who are searching for an alternative to hotel accommodation with soaring room rates.

You can choose to rent out your condo full time, or simply during the periods of the year when you are not using it personally. With the help of on-site concierge management in place to take care of the day-to-day management on your behalf.

With that said, let’s show you a breakdown of your investment and how long it will take to recoup your initial cost:

ATLANTIS TOWER INVESTMENT ANALYSIS

1 (ONE) BED CONDOS ANALYSIS

LONG-TERM RENTAL SHORTLET 
VALUE: N100,000,000

ANNUAL RENT: N5,000,000

 

Rate: 5,000,000 / 100,000,000

= 5%

 

RESALE VALUE IN 2 YEARS

                 Properties at this location appreciate by at least 15% – 20% annually.

 

N100,000,000 * 30% (2years rate)

= N30,000,000

 

        VALUE IN 2 YEARS = N130,000,000

VALUE: N100,000,000

DAILY RATE: 65,000

DAYS: 30

                OCCUPANCY RATE: 50% / 6 MONTHS

 

65,000 * 30 DAYS = N1,950,000

                    N1,950,000 * 6 MONTHS (50% OCCUPANCY)

 

               Expected Income= N11,700,000 Annually

 

Rate: 11,700,000 /100,000,000

= 11.7% 

YR: 8.5YEARS

  2 (TWO) BED CONDOS ANALYSIS

LONG-TERM RENTAL SHORTLET 
VALUE: N190,000,000

ANNUAL RENT: N8,000,000

 

Rate: 8,000,000 / 190,000,000

= 4.2%

 

RESALE VALUE IN 2 YEARS

                   Properties at this location appreciate by at least 15% – 20% annually.

 

190,000,000 * 30% (2years rate)

= N57,000,000

 

VALUE IN 2 YEARS = N247,000,000

VALUE: N190,000,000

DAILY RATE: 120,000

DAYS: 30

      OCCUPANCY RATE: 50% / 6 MONTHS

 

100,000 * 30 DAYS = N3,600,000

              N3,600,000 * 6 MONTHS (50% OCCUPANCY)

 

                 Expected Income= N21,600,000 Annually

 

Rate: 18,000,000 /190,000,000

= 11.4% 

YR: 11YEARS

3 (THREE) BED CONDOS ANALYSIS

LONG-TERM RENTAL SHORTLET 
VALUE: N290,000,000

ANNUAL RENT: N12,000,000

 

Rate: 12,000,000 / 290,000,000

= 4.1%

 

RESALE VALUE IN 2 YEARS

                 Properties at this location appreciate by at least 15% – 20% annually.

 

290,000,000 * 30% (2years rate)

= N87,000,000

 

VALUE IN 2 YEARS = N377,000,000

VALUE: N290,000,000

DAILY RATE: 200,000

DAYS: 30

              OCCUPANCY RATE: 50% / 6 MONTHS

 

            200,000 * 30 DAYS = N6,000,000

                     N6,000,000 * 6 MONTHS (50% OCCUPANCY)

 

                 Expected Income= N36,000,000 Annually

 

Rate: 36,000,000 /290,000,000

= 12.4% 

YR: 10YEARS

Now, we have taken it a step further by providing a flexible payment plan with no added interest that can be customized to each individual need. The only risk here is missing out on this amazing deal. A lot of investors are already taking advantage and securing their investments, so do not be left out.

For more information/details, Call/Whatsapp:

Tunde: 09081999908

Toochi: 09133379281

Shelia : 08034456595

HOW THE US CONSULATE HAS IMPACTED IT’S IMMEDIATE ENVIRON AND EKO ATLANTIC CITY AS A WHOLE

Eko Atlantic officially Nigerian International Commerce City, also known as Eko Atlantic City, is the new coastal city, being built on Victoria Island, Adjacent to Lagos, Nigeria to solve the chronic shortage of Real Estate in the world’s fastest-growing megacity. It is a focal point for investors capitalizing on rich development growth based on massive demand and a gateway to emerging markets of the continent.

       The US Consulate held its Groundbreaking Ceremony on the 31st of March, 2022 which housed many dignitaries from all over the world, and this officially marked the beginning of the modern consulate building. Moreso, the date for the commencement of construction of this project is yet to be released, but more so, it already has a good number of impacts in Eko Atlantic City, which include;

  1. The new consulate is said to provide a modern space for the largest consular operation in Africa, including improved public-facing interview and waiting areas,
  2. Upon completion, it is said to be the ‘Largest U.S. Consulate in the world, demonstrating the importance of the relationship between the United States and Nigeria,
  3. It has made Eko Atlantic city more desirable and will most likely spur other private investors to equally give this location another look,
  4. Due to its significance, it has given more credence to its immediate environment where it’s situated (phase 3), hence making it the most expensive and secured location amongst other locations in Eko Atlantic City.
  5. The placement of the US Consulate General office in Eko Atlantic city is expected to attract more major companies/businesses and foster business growth in the area as most of the buildings are residential,
  6. The project will directly benefit the Nigerian people, through the employment of approximately 2,500 Nigerian citizens, including engineers, architects, artisans, construction workers and admin staff, who will learn new technical skills and safety awareness that will help distinguish them in the local market and the likes.

With the above mentioned and more, you will agree with me that Eko Atlantic City is one of the most sought after in the heart of Lagos, as it has won the hearts of many due to its enormous features, not to mention its eccentric facilities.

BY: BUCHI EMEFIENE

BUSINESS DEVELOPMENT EXECUTIVE/PROJECT MANAGER

PHONE NO: 0906 000 4316

Dr Chiedu Nweke and Wife, Mrs Chinelo Nweke Bag Chieftaincy Conferment as Aare Atunluse and Yeye Aare Atunluse of Ikate Kingdom.

Our MD/CEO, The Obaji Awkuzu, Dr Chiedu Nweke, and his wife, Mrs Chinelo Nweke, were conferred with yet another chieftaincy title as the Aare Atunluse and Yeye Aare Atunluse of Ikate Kingdom, by His Royal Majesty, Oba Saheed Ademola Elegushi (Kusenla III) and The OONI Adimula of Ife Oba Adeyeye Enitan Ogunwusi (Ojaja II).

Top dignitaries, business partners, friends, family, and Periwinkle subscribers from Nigeria and beyond were in attendance.

The Chieftaincy title is an honour and appreciation for his contribution to property development and construction of residences that fit into the Lagos City Master Plan for Urban Development through The Periwinkle Group, according to the King’s speech.

On behalf of his family, Dr Chiedu Nweke, now known as Aare Obaji Awkuzu, expressed gratitude to everyone for the large turnout at the chieftaincy conferment. We shall never forget this experience, he said. “Friends and family, you were genuinely great, and we appreciate you all.

5 FACTS ABOUT EKO ATLANTIC CITY YOU DIDN’T KNOW.

The Eko Atlantic is a new city set to rise out of the Atlantic ocean just next to Victoria Island, in Lagos state. Eko Atlantic will also satisfy needs for commercial, residential, and tourist accommodations, with infrastructure in line with modern and environmental standards.

1. SIZE OF EKO ATLANTIC CITY –

The Eko Atlantic city is built on 10 million square meters of reclaimed ocean land. This is 5 times the size of Monaco. A total of 300,000 families would live in the metropolis, which would also employ 250,000 people.

2. EKO ATLANTIC CITY FOUNDATION

After land reclamation, the city is obviously built on water. Do you have any idea how much sand is dumped into the sea? 140 million metric tons of sand Yes! Dredging International, a Belgian corporation, has moved 95 million cubic meters of sand from the Atlantic’s bottom to achieve this feat.

3. INFRASTRUCTURES OF EKO ATLANTIC CITY 

Are you also thinking of becoming a resident of the EKO ATLANTIC CITY? Think no more, as you stand to enjoy so many perks as a resident of the city. See the benefits listed below:

• Independent 24/7 power supply ( I am sure everyone would love this).
• Water and wastewater treatment.
• Fiber-optic communication connections to every plot of land. (No more struggle with inefficient internet networks).
• The city delivers plots of land with a connection to utility services.
• Elevated street levels to also accommodate.
• A 10.2km long waterfront promenade. (Take a walk or morning run across the ocean view).
• 2 large marinas are connected by an internal waterway.

4. THE ACHITECTURAL DESIGNS OF EKO ATLANTIC CITY

This architectural marvel is the result of collaboration between two of the world’s most renowned architectural firms. The official designers of the EKO ATLANTIC CITY are AR+H ARCHITECTS and MZ ARCHITECTS. The former also creates one-of-a-kind architectural designs for high-quality constructions.

5. EKO ATLANTIC CITY PLAN

There are ten (10) districts in Atlantic City, namely:
Harbour Lights • The Harbour Lights is a location within Eko Atlantic that has high-rise structures that form a beautiful skyline.
Business District • The Business District is the project’s business hub, with a central boulevard extending 2 kilometers and 60 meters in width.
Marina District • The Marina District is a residential area as well as a social and recreational hub.
Downtown • In the Downtown district, living the city life has never been easier.
Eko Island • Eko Island is another residential location where you may live comfortably.
Avenues • As the name implies, the Avenues sector of Eko Atlantic is filled with major green avenues.

The Four Bridges region is a district of residential dwellings, recreation, and commercial activity, with a variety of lodging alternatives.

The Eko Drive district is a wonderful blend of residential and commercial, serving as a link between Lagos and Eko Atlantic.

Marina on the East Side

The East Side Marina is a collection of buildings and tree-lined alleys that houses a variety of stores, restaurants, and pubs.

Ocean View

The Ocean Front is primarily a residential area with tourism services and attractions.

Chiedu Nweke – Top 10 CEOs of 2021

 

Barrister Chiedu Nweke is managing director/CEO, Periwinkle Residences Limited, where he oversees the design, development, construction and administration of a wide variety of major premium and luxury housing developments and residential complexes in Nigeria. Crossing over from the courts to building castles, he drives the vision to build the most trusted brand in the real estate business in Nigeria.

He brings to the company’s leadership three decades of experience and expertise that cut across law practice, real estate development, investment, transportation and logistics, oil waste management and regulatory services.

Periwinkle Residences specializes in the development of premium, luxury residential properties, applying innovation and creativity to create long-term value for investors and partners. Its mandate is to provide secure housing and investment solutions to clients.

Nweke founded and shaped the company to run on the path of honesty, trust and customer satisfaction – which has paid off. In a space of four years, the company has become a market leader, setting the standard in Nigeria’s real estate industry.

His focus is the premium market in line with the conviction that providing clients with life-changing experiences is more important than building homes. In line with the market focus, Nweke established a subsidiary company – Periwinkle Condos Limited with the mission of providing luxury homes and investment opportunities to clients.

The results are stunning, which have distinguished him as a disruptor in the real estate business where his group controls a large share of the lifestyle estates market.

The company’s Periwinkle Lifestyle Estate is a lifestyle community with magnificent structures designed to match the highest expectations of comfort and luxury. Its Oxygen Apartments are the newest development in the exclusive lifestyle and serene water view of Lekki Phase 1 in Lagos.

Ixora Homes present unique residences that combine class, style, quality and innovation – all in the bid to match the taste and style of the high-end market.

Other development projects include magnificent villa homes designed to achieve perfect homes for elite living. The Chateau D’Avenue is another signature project located in the exclusive Periwinkle Lifestyle Estate.

From the onset, Nweke set out on a clear mission to create a ‘live, work and play environment in reference to which ‘Lifestyle Estate’ was named. The idea is that residents don’t have to go far to get to a shopping mall, church school or playground. He designed everything to be within easy reach.

“I imagined that people who will live here won’t need to go too far to do their jogging, bicycle riding or whatever recreational activity they want. We’ve provided everything within the estate,” he said.

Nweke refers to himself as a project man in reference to his passion for creating new developments. That precisely is what led him to cross over from law to real estate.

His landing place was dredging business – where he made his mark as one of the pioneers of massive dredging in Lagos. His final cross over point was Lakowe Lakes in 2009 where he was hired by Golf Estate developers for dredging.

He recalls that “when we were about to conclude the Lakowe project, the beauty of it all, I told myself that this is an opportunity for me to do something in real estate in Lagos. And that was how we applied to the Lagos state government for a concession that led to Orange Island, then Periwinkle.”

His Periwinkle Estate emerged from reclamation of wasteland with lots of shanties that nobody imagined could become the Periwinkle of the present day. According to him, Orange Island and Periwinkle emerged from the backwaters of Elegushi, Ikate water logged shanties, marking a turning point that led to the development of a multi-billion naira prime real estate that stands today as a choice destination.

The estate, he said, has afforded his company the opportunity to express itself in terms of infrastructure, structural construction and the style of buildings on display.

Periwinkle Residence has a number of ground-breaking real estate projects to its name across Nigeria. Nweke is promising that many more are in the process of rollout.

His focus remains the provision of premium and first-class residences that feed clients and investors with premium smart homes in upscale neighbourhoods crafted for the ultra-modern lifestyle.

Nweke holds a degree in law and also obtained a Master’s degree in law LLM from Lagos State University. He advanced further to a PhD programme at the University of Nigeria.

Prior to venturing into the real estate industry, he was managing director/CEO, West African Waste Management Limited, an oil waste treatment company servicing major oil and gas companies. He was also a key contributor to both Shenker Shipping Limited and Lintel Shipping Limited.

He is a member of several professional bodies and sits on the board of several multinational companies.

He is quite optimistic about sustaining the growth and prosperity of the real estate industry well into the future. However, he considers the government’s role quite critical in terms of providing the necessary conducive environment for sustained investment inflow into the industry.

Source: https://thetop10magazine.com.ng/chiedu-nweke-top-10-ceos-of-2021/

SOUTH AFRICA – REAL ESTATE MARKET SET TO EXPERIENCE A REVITALIZATION IN 2021

 

South Africa’s residential real estate market is the largest component of the South African property market, comprising most property assets within the country. Despite the economic and political turmoil faced by the country in 2019, followed by a pandemic-plagued 2020, many signs point to the fact that the South African property market will experience a revitalization in 2021. Read more “SOUTH AFRICA – REAL ESTATE MARKET SET TO EXPERIENCE A REVITALIZATION IN 2021”

Exclusive Interview with our managing Director/CEO on How to Harness Opportunities in Real Estate

YOU HAVE SOARED HIGH IN BUSINESS, ACHIEVING MUCH AND BUILDING A LEGACY, BACKED UP WITH A SOLID ACADEMIC QUALI- FICATION. CAN YOU EXPOSE US TO HOW YOUR EDUCATIONAL BACKGROUND INSPIRED YOUR JOURNEY IN REAL ESTATE?

My name is Chiedu Nweke; I am a lawyer. I have a degree in Law, with an LLM from Lagos State University. Currently, I’m concluding my Ph.D. at the University of Nigeria. I am a project person. I have been in dredging for close to 26years now. At some point, I was working at Baran in Bayelsa state, and in 2009, we were invited to Lagos to create the Lakowe Lakes Golf Estate. I was one of those that pioneered massive dredging in Lagos. When we were about to conclude the Lakowe project, the beauty of it all, I told myself that this is an opportunity for me to do something in real estate in Lagos. And that was how we applied to the Lagos state government for a concession that led to Orange Island, then Periwinkle. Read more “Exclusive Interview with our managing Director/CEO on How to Harness Opportunities in Real Estate”

Periwinkle Condos signs new land deal in Eko Atlantic City

Periwinkle Condos Limited is set to sign the acquisition of new land in Eko Atlantic City, Wednesday 23rd June 2021

Leading real estate developer and luxury lifestyle provider, Periwinkle Condos is set to sign land acquisition in Eko Atlantic City, Victoria Island, Lagos on Wednesday 23rd June 2021 and announces its readiness to begin the construction of Pan Atlantis Tower on this land.

Read more “Periwinkle Condos signs new land deal in Eko Atlantic City”

Get in touch

our address

3/4 Bishop Aboyade Cole Street, Victoria Island

phone number

(234) 907 230 4789

email address

info@periwinklecondos.com

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