Periwinkle Residences Limited: The Oxygen Condos and Ixora Homes Delivery Timeline

Periwinkle Residences Limited says it handed over 13 four-bedroom terraces at Ixora Homes, inside its Periwinkle Lifestyle Estate on Freedom Way, Lekki Phase 1, on 30 September 2022. That is the one completed handover the company has documented in public. The larger Oxygen (O2) Condos twin towers went on sale in October 2018, and in a site visit Estate Intel reported a target completion of Q4 2020. We could not find any public record of when the towers were actually completed. A profile of the founder in The Guardian's top-CEO series describes Periwinkle as having three projects "completed and delivered" and 16 under construction. Every figure on delivery comes from the company or from coverage built on its own statements. None has been independently tallied.

The company and its registration

The company's homepage displays RC 1368473 and gives its address as the Lagos Lagoon District, Lekki Phase 1. Anyone buying should look up that number on the Corporate Affairs Commission's public search to confirm three things: the exact registered name, the incorporation date and the current directors. Then check that your contract and receipts name that same entity. A related brand, Periwinkle Condos, runs its own website from 3 Bishop Aboyade Cole Street, Victoria Island (team page). Buyers should find out which legal entity is the party to their contract.

The Guardian says the Periwinkle brand was founded in 2017. The company lists more than a dozen developments under it. Some sit inside Periwinkle Lifestyle Estate (Oxygen Condos, Ixora Homes, Casa Lunaria). Others are in Ikoyi and elsewhere, and there is also a project in Awka, Anambra State, named Bethlehem City.

Who runs it

Chiedu Nweke is the founder and main public figure. The company's own Ixora handover release calls him "Founder & CEO". In October 2018 ThisDay named him Managing Director. On 14 March 2025 The Sun described him as Chairman of Periwinkle Residences Limited, Managing Director and CEO of Swampsea Construction Company Limited, and Chairman of Orange Island Development Company Limited.

A November 2021 ThisDay profile says Nweke is a lawyer who spent close to 26 years in dredging before moving into property development. It quotes him saying that Oba Saheed Elegushi, Kusenla III, invited him to take part in reclaiming a portion of Ikate Kingdom. The same profile describes Swampsea as the technical developer of Orange Island, a separate project. The profile does not tie the reclamation directly to the Periwinkle estate.

The Ixora release also names Victor Enyingwa as Head of Business Development and Marketing and Joy Anwana as Assistant General Manager. We found no public disclosure of shareholders, outside investors or lending banks for Periwinkle Residences Limited.

Partners

The homepage lists Viathan, Tsebo Cleaning and Hygiene, The Rare Gem, Solidar, Powerflow, Powerec, Arksego, Almansour and Alacarr as partners. It does not say what any of them does on which project. We found no named architect, main contractor or financier of record for the Periwinkle estate projects.

The delivery timeline

Oxygen (O2) Condos. ThisDay reported on 15 October 2018 that the twin East and West towers would each have ten floors. Prices were ₦45 million for a one-bedroom, ₦55 million for a two-bedroom and ₦85 million for a three-bedroom, with an ₦8 million initial deposit and a launch on 25 October 2018. Estate Intel later visited the site and described three things under construction:

- the twin towers, with 26 units in each

- 11 detached Villa Homes

- 13 Oxygen Terraces

It gave the completion date as "Q4:2020". The company's Oxygen Condos page now reads as though the building is finished, but it gives no completion date. The key question for any buyer or reseller here is when the certificate of completion and fitness for habitation was issued. The developer should be able to produce it.

Ixora Homes. The company's release reports that 13 luxury four-bedroom terraces were handed over on 30 September 2022, at a ceremony where Nweke said: "We wanted to make people homeowners, and today, we are glad to hand over the first set of properties to our subscribers." The number matches the 13 Oxygen Terraces Estate Intel recorded. That suggests the terraces were delivered roughly two years after the Q4 2020 target, though the release does not confirm that the two are the same units. We found no independent news report of the handover.

Casa Lunaria and the rest of the portfolio. Casa Lunaria is named on the company site and in The Guardian's profile. We found no public status report or delivery date for it, or for the Ikoyi and Eko Atlantic projects listed under the Periwinkle brand.

Title and permits

We found no public Certificate of Occupancy, Governor's Consent or Lagos State Physical Planning Permit Authority approval for any Periwinkle project. Some resale listings inside the estate on property portals mention a C of O or Governor's Consent. Those are claims by listing agents, not documents from the developer. Confirm the root title and survey for the specific plot or building, not only for the estate as a whole. Our guides on the difference between C of O, R of O and Governor's Consent and planning permits versus title in Lagos cover what to ask for.

Regulatory and legal record

As of September 2026, we searched Periwinkle Residences Limited, Periwinkle Condos and Chiedu Nweke against the Lagos State Real Estate Regulatory Authority, the Securities and Exchange Commission, the EFCC, court reporting, and Lagos building-control and demolition notices. None of those searches returned anything naming the company or its founder. That is a result of our search, not a clearance. LASRERA registration and Lagos court records need to be checked directly.

What a buyer should check

Periwinkle has a physical estate on Freedom Way, a documented handover by its own account, and a named founder with a long press record. The part that cannot be verified is the schedule. The towers were launched in 2018 with a 2020 target, and no public completion date has been given since. Before paying for a unit in any current Periwinkle phase:

1. Confirm RC 1368473 on the CAC portal, and find out exactly which Periwinkle entity is selling to you.

2. Ask for the certificate of completion for Oxygen Condos and the handover date of the terraces, as a benchmark for how long the developer takes to deliver.

3. Get the root title and planning permit for the specific building you are buying into.

4. Speak to current residents about handover, finishing and service charges.

The projects recorded so far are on the company's profile page. Bektu is a platform for comparing what a developer has announced with what it has delivered. For other Lekki Phase 1 developers, see our Lekki Phase 1 developer guide.