TheCable

Purple Real Estate Income Limited (PREIL) has signed an agreement with Genesis Cinemas, Market Square and Ventures Park to be the anchor tenants and partners at PurpleLekki, a mixed-use centre scheduled to open this year. 

An anchor tenant is an occupant of a retail shopping centre that brings in a significant enough volume of customers to drive business for other tenants in that retail centre.

In a statement on Tuesday, the company said the 38,000 square metres Purple Lekki, located in Lagos, will encompass a premium 157-unit mixed-use development that blends high-quality residential, retail, entertainment, hospitality and co-working spaces.

Laide Agboola, chief executive officer of Purple, hosted the signing event to mark the occasion and led a tour to showcase the project.

In his remarks, he reaffirmed Purple’s mission and increased ambition to scale up investment and accelerate growth in Nigeria’s real estate sector.

“The development also includes Citadines, a new serviced apartment offering for occupiers, where a commitment to customer service ordinarily experienced within a high-end hotel setting will be brought to the comfort of occupiers living at home,” the statement reads.

“This unique living experience will be delivered in partnership with The Ascott Limited, one of the world’s leading owners and operators of serviced residences.”

Also speaking at the event, Ebele Enunwa, chief executive officer of Market Square, said, “the company has fast become a household name and the go-to grocery retail store for Nigerians in need of products they can trust at a valued price.

“However, the Market Square story could not have been written without our partnership with Purple.

“Signing this tenancy agreement to house our second outlet in Lagos signals the success of our first in PurpleMaryland and the next step of a progressive partnership that enables us to continue to meet Nigeria’s everyday needs.”

On his part, Kola Aina, chairman of Ventures Park, said, “We are a nation where entrepreneurship abounds, but talent cannot pursue its goals or achieve its objectives, compete nor win big without an environment that harnesses home-grown potential.

“As such, we are delighted to leverage the PurpleLekki property development as we upgrade and scale our offering across the country and beyond to support the success of a new wave of startups, technopreneurs, and innovators that bring about the world of tomorrow today.”

Nnaeto Orazulike, chairman of Genesis Cinemas, said the company remained committed to building world-class multi-use facilities in partnership with Purple.