The Royalties: Why we’re building 20-storey luxury apartment in Abuja — Peter Adejoh

Chairman of Prime Luxury Address, Peter Adejoh, has explained that the decision to develop a 20-storey luxury residential apartment in Abuja is driven by the need to create an iconic landmark, attract investment and contribute to the transformation of the Federal Capital Territory.

Adejoh spoke during the unveiling of The Royalties Abuja, a proposed 20-storey luxury residential development being promoted by Prime Luxury Address in partnership with Periwinkle Empire.

He said the project was strategically located in an area surrounded by major landmarks, including the American Embassy, Canadian Embassy and World Trade Center.

According to him, the location was carefully selected because of its potential to support a landmark development.

“Location is everything. Location is everything. And if you follow the trajectory of Periwinkle Empire, if you go to Lagos, their locations are… they don’t build everywhere. And for Prime Luxury, we too, we don’t build everywhere. We identify key locations.”

Adejoh said the project would contribute to the transformation of Abuja’s skyline while aligning with efforts to attract investment and develop the city.

“The Royalties Abuja is going to be an iconic project that is going to contribute and change the skyline of Abuja. We are keen into the transformational agenda of the government to empower, to transform the city centre, and to make sure we’re able to attract good investment.”

He described the development as a major private-sector investment that would provide luxury apartments in one of Abuja’s prime locations.

Beyond housing and investment, Adejoh said the project would also create employment opportunities for young people during its construction.

“We’re talking of a 20-story building. A lot of youths will be empowered there. A lot of families will be fed from monies that will be paid to workers who are going to work on this site.”

He added that the project had engaged a competent contractor with experience in high-rise developments.

The contractor, Wael Al-Mansour, said construction was expected to take between 36 and 48 months, subject to the completion of the final design and necessary approvals.

Al-Mansour also called on the government to create a more enabling environment for private-sector investment through improved access to funding and lower interest rates.

He said the purchasing power of Nigerians was also critical to the success of luxury housing developments.

“The more money circulating, the more money in the pockets of Nigerians, the better the projects are funded.”

The Royalties Abuja brings together Prime Luxury Address as the landowner and project visioner, Periwinkle Empire as development partner and ALM Engineering & Contracting Limited as contractor.