Merger of Purple Real Estate Income, Purple Real Estate Devt to accelerate growth

Purple Real Estate Income Limited (PREIL), Nigeria’s groundbreaking real estate investment platform, today announced the completion of a merger with Purple Real Estate Development Company Limited (PREDCO), the property development arm of Purple Group.

PREIL and PREDCO share the same mission of democratizing access to real estate investment and ownership in Nigeria by removing the barriers that prevent investors from owning real estate assets. As a combined company, the new entity will provide integrated ownership, investment, development, management, sale, lease and acquisition of high quality mixed-use facilities, including residential, commercial, hotel infrastructure and proprietary technology.

This merger lays the foundation for the next phase of Purple Group’s growth plan to accelerate the pace and scale at which it delivers targeted, premium and affordable lifestyle offerings in strategic locations across Nigeria – offering technology-based services and added value to customers and partners.

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

In his words, Co-founder and CEO, Purple Laide Agboola, Noted, “This merger creates the platform for the next phase of our growth, consolidating the assets of our real estate division and delivering operational efficiencies across our internal value chain, while positioning us to access and deliver new business opportunities at large. ladder. We know that there is a significant demand for modern and integrated property developments in Nigeria that meet the growing 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 catering to the needs of a new generation demanding much more from real estate.

About purple

Purple is Nigeria’s revolutionary real estate and financial services platform, at the forefront of a real estate revolution. With investments in the development, management and acquisition of top quality mixed-use properties and infrastructure across a wide range of sectors to democratize access to real estate ownership and investment, Purple breaks down the barriers that prevent investors to profit from asset appreciation.

PREIL began operations in 2014 and is responsible for the development of the Maryland Mall, a mixed-use Category A center which also boasts the largest outdoor LED screen in West Africa.

To learn more and join the Purple community, visit violet.xyz

For media inquiries, please contact

Emmanuel Balogun

ebalogun@africapractice.com

For investor inquiries, please contact:

Obinna Onunkwo

Investors@purple.xyz