Periwinkle Signs Deal for $150m, 20-Storey Royalties Abuja Tower

Periwinkle Empire has entered Abuja's real estate market with a $150 million, 20-storey luxury residential tower in the city's Central Business District. The company signed a consortium agreement with Prime Luxury Address Ltd on Tuesday, October 6, 2026, and received a formal handover of the project site the same day.

The development, named Royalties Abuja, sits directly opposite the United States Consulate. Al Mansour Contracting Limited will handle construction, and the project is targeting LEED certification for sustainability and energy efficiency.

What the developers are promising

Chairman of Prime Luxury Address Ltd, Dr Peter Adejoh, said the collaboration was designed to raise the standard of premium residential development in the capital. He said the project would generate employment for professionals, artisans and young Nigerians.

"Royalties Abuja represents more than another addition to the capital's skyline. It is a deliberate investment in quality, employment and the future of Abuja's real estate market," Adejoh said.

For Periwinkle Empire Chairman, Dr Chiedu A. Nweke, the tower marks the company's first significant move outside Lagos. Nweke, widely referred to as the "King of High Rise," said Abuja's strategic importance and its premium land locations made it a natural choice for expansion. He noted that the company's track record with high-rise developments in Lekki Phase 1, Lagos, had equipped it for this next phase of growth.

Contractor, advisers and project scope

After the agreement signing, both parties moved to the site for a formal transfer of the land to Periwinkle Empire and its main contractor, Al Mansour Contracting Limited.

The contractor's representative, Engr Wael Mansour, said the firm would apply international engineering and construction standards throughout the build. He added that the tower would incorporate modern design and finishing, with the project targeting LEED certification to meet sustainability, energy efficiency and environmental benchmarks.

Tunde Olatunji, Managing Director of Periwinkle Condos, described Royalties Abuja as one of the most significant residential projects the capital has seen, saying it would lift expectations around luxury, comfort and investment returns in the city.

Nollywood actor Ikechukwu "IK" Ogbonna attended the signing ceremony and welcomed the project, speaking about his broader interest in contributing to Nigeria's economy through real estate.

Detail Commercial Solicitors is serving as lead counsel on the transaction, while Deloitte has been appointed as financial and transaction adviser.

Jobs and the wider market

The developers said job creation remains a central goal, both during the construction phase and after the building is completed. They also expect the project to boost businesses and economic activity in the surrounding area.

Periwinkle Empire's move into Abuja follows its established presence in Lekki Phase 1, Lagos, where the company has built its reputation as a high-rise and luxury property developer.

For a capital where premium residential stock remains thin and expensive, a $150 million tower opposite a diplomatic mission signals that developers still see strong demand at the top end of the Abuja market. Whether that confidence spreads to mid-income housing, where the scarcity is most acute, is a different question.