News - Periwinkle Condos


An off-plan property simply means a property that is planned but has not been built or, if building has started, has not been completed. They are properties that are under development and construction. Buying off plan means committing to purchasing a property before it has been completely built. Both residential
and commercial real estate can be bought off plan. Often this means making a commitment from project conception i.e., from when the property is just a sketch on paper or a 3D image on computer. However, this is not always the case as an off-plan property can also be one on its way to being built: maybe the foundation has just been completed or it’s yet to be plastered.

When you buy an off-plan property, it means that you are buying into the concept and design of the development with hopes that the project execution process will be a favorable one and the end product matches your expectation. You are also trusting that the developer has the values declared or portrayed to deliver on agreed deliverables. Building a house that can stand the test of time requires great precision and accuracy from top-notch professionals who can be held accountable. The dearth of such professionals and the rigors of building a house from scratch can sometimes be a tall order for an individual. For homebuyers who do not wish to go through the rigors of building from scratch, the off-plan property
becomes a preferred option. It offers the opportunity for some personalization while taking away the stress of building by yourself.


1. Flexible payment plans: instead of paying a lumpsum, off plan properties allow you to stagger your payments in a manner that ensures you maintain your liquidity throughout the construction period. Most developers charge only a 10% – 20% initial deposit and permit the home buyers to settle the 90% during construction which takes between 24 and 36 months. This eases the burden of raising capital, allowing you to plan your finances.

2. Capital appreciation: Off plan properties offer capital gains. How? You will be buying the property at its present price and because real estate increases in value over time, your home or your apartment will increase in value as construction progresses. By completion, your residence will be valued at a higher price than you bought it for, granting you significant capital gains. Furthermore, many off-plan developments tend to be situated in neighborhoods that are just developing and such developments tend to enhance the overall value of the neighborhood
especially if they are large. This type of scenario leads to appreciation in the value of properties in that neighborhood with the result that by the time the development is being completed the value of the properties within same tend to be significantly higher than the value at which they were bought off plan thus resulting into capital appreciation.

3. It is brand new: Off plan means you’ll eventually be owning a brand-new home, built with best-in-class materials, modern-day fixtures, and with up-to-date architectural provisions such as smart home capabilities or energy efficient appliances. Everything being brand new means you will not incur any maintenance costs in the immediate future, thereby saving you costs in the long
run. In case you are buying property as an investment, brand new homes also attract tenants who are often willing to pay a premium to live in new spaces which translates to more rental income.

4. Custom finishes: Another benefit of off plan purchases is the possibility it creates for one to make modifications to the building design at the early stages of construction and to also have finishes or building components specified to one’s taste and preferences. Developers can allow changes in the unit layout, and you can determine finishes in advance, such as your home’s color scheme, fittings, and your preferred type of furniture if applicable.

5. Choice Location: A further benefit conferred by off plan property purchase is the opportunity to pick one’s preferred location within a particular development especially if one is able to key into the development at an early stage. This is as opposed to the case of an already built-up property that has its location already fixed. This means that one can decide exact location of unit, floor or wing of whichever property he intends to buy.

Finally, one of the best benefits of purchasing off-plan properties from the Periwinkle Brand is that notwithstanding the likely appreciation in property values over the construction period, prices tend to be locked in at the level at which the buyer enters into the transaction. This simply means that instalments made on any of our properties bears no additional interest even as construction
progresses and value increases.

Whether you are looking to buy property as an investment venture or as a homeowner, off plan developments are a great option. What you need is a trustworthy and reliable developer that will enable you realize these gains and we do hope the information herein is enough to convince you it’s well worth a

Azuka Chinaza Sheila
Phone no: 08034456595

PAN ATLANTIS: Eliminating the Grey Areas between Luxury and Premium Properties.

The true definition of a dream house differs from one person to the other, some attribute it to the interiors, facilities or amenities, location etc. But what exactly describes a luxury home in Nigeria?

Luxury, as the word implies is similar to class, elegance and style. Luxury homes are homes that beget elegance, style and class to an individual.

The true features of a luxury property are; serenity, good security, smart home features, surreal views and amenities. Most properties boast of being luxury, but are they? The key differences always lie in the quality of the aforementioned features.

Here at Periwinkle Condos Limited, we have taken a step further from the norm, to provide our partners  with the best of the world class amenities and services expected of a true luxury property.

Below is a comparative analysis of our project PAN ATLANTIS TOWER and its competitors in Eko Atlantic City.

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:



VALUE: N100,000,000

ANNUAL RENT: N5,000,000


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

= 5%



                 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% 



VALUE: N190,000,000

ANNUAL RENT: N8,000,000


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

= 4.2%



                   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



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% 



VALUE: N290,000,000

ANNUAL RENT: N12,000,000


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

= 4.1%



                 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% 


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


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.



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.


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.


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.


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.


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.


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.


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.




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


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”

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(234) 907 230 4789

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