Real estate development company Periwinkle Empire has announced plans to construct a 20-storey luxury residential tower in Abuja, marking its entry into the Federal Capital Territory’s property market.

The proposed development, named Royalties Abuja, is estimated by its promoters to be worth more than $150 million and will be undertaken in partnership with Prime Luxury Address Limited.

The project is planned for Abuja’s Central Business District, at a location the developers described as opposite the United States Consulate.

The partnership was formalised on Tuesday, October 6, 2026, during a consortium agreement signing ceremony and the official handover of the project site.

Speaking at the event, Chairman of Prime Luxury Address Limited, Dr Peter Adejoh, said the partnership was intended to deliver a premium residential development while creating economic opportunities within the Federal Capital Territory.

According to Adejoh, the project is expected to generate employment during construction and provide opportunities for professionals, contractors, artisans and other workers involved in the building industry.

“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,” he said.

He explained that the collaboration with Periwinkle Empire was informed by a shared interest in developing high-end residential properties capable of meeting demand within Abuja’s premium housing segment.

Chairman of Periwinkle Empire, Dr Chiedu A. Nweke, described the project as an important milestone in the company’s geographical expansion.

Nweke said Abuja’s status as Nigeria’s administrative capital, together with its residential property market and investment prospects, influenced the decision to establish a presence in the city.

He noted that the company’s experience in developing residential properties in Lagos would guide its approach to the Abuja project.

Periwinkle Empire has previously undertaken luxury residential developments in Lekki Phase 1, Lagos, and is seeking to extend its operations into another major Nigerian property market.

According to Nweke, the proposed tower is intended to combine contemporary residential design with construction and engineering practices suited to a high-rise development.

Following the signing ceremony, representatives of the development partners proceeded to the project location for the formal handover of the site to Periwinkle Empire and its appointed main contractor, Al Mansour Contracting Limited.

The handover marked another stage in preparations for the proposed development.

A representative of Al Mansour Contracting Limited, Engr Wael Mansour, said the contractor would apply international engineering and construction practices in delivering the project.

He explained that the proposed development would incorporate modern architectural design, engineering systems and finishing standards.

Mansour also disclosed that the developers were targeting Leadership in Energy and Environmental Design (LEED) certification, an internationally recognised green building rating system.

LEED certification assesses buildings against sustainability-related criteria, including energy performance, water efficiency, materials and environmental considerations.

However, the intention to obtain certification does not mean the project has already achieved that status.

The developers did not provide details of the certification level being pursued or the timetable for completing the assessment.

Managing Director of Periwinkle Condos, Tunde Olatunji, said Royalties Abuja was being positioned as a major addition to the capital’s luxury residential property market.

Olatunji put the proposed development value at more than $150 million, describing the project as part of the company’s efforts to expand its portfolio of high-end residential properties.

He expressed confidence that the development would attract interest from buyers seeking premium accommodation in Abuja.

The projected investment value and expectations of future returns are the developers’ estimates and have not been independently assessed.

Nollywood actor Ikechukwu “IK” Ogbonna, who attended the ceremony, also welcomed the initiative.

Ogbonna spoke about his growing involvement in real estate, describing property development as an area through which private investors could contribute to economic activity.

The developers also identified Detail Commercial Solicitors as lead legal counsel for the transaction, while Deloitte was named as financial and transaction adviser.

According to the project promoters, the proposed tower is expected to support economic activity through demand for construction materials, professional services and labour.

They said employment opportunities could also arise after completion through building management, maintenance and other services associated with residential developments.

Although the partners indicated that construction would proceed to its next phase, they did not disclose a definite completion date, the number of residential units planned or the timetable for delivering the development.

Further details of the project’s financing structure, regulatory approvals and sales arrangements were also not provided in the announcement.

For Periwinkle Empire, Royalties Abuja represents an attempt to extend its high-rise residential development activities beyond Lagos and establish a presence in the Federal Capital Territory.

The developers said the project would focus on meeting demand in Abuja’s premium property segment while contributing to construction-related employment and business opportunities.