In addition, the company is requesting N50 billion in damages for claims of malicious sponsorship against its management.
"Sunrise Estate had cautioned the public against purchasing the plots 580 & 581, Kugbo District, Abuja, being marketed by Promiseland Estate, in a notice of litigation sponsored on various news outlets."
The public is hereby warned not to deal with Promiseland Asokoro Hilltop or any other person advertising to sell lands in LOTS 580 & 581 as they risk losing their money and may be sentenced to prison for contempt of court, according to a portion of the advertisement.
In response, Promiseland asserted that, in contrast to Sunrise's assertions, Promiseland Estate was not currently embroiled in any legal proceedings concerning Plots 580 & 581.
Given that Sunrise's disinformation could damage the company's reputation, the accusers were urged to come forward with supporting documentation.
"We issue a challenge to those making accusations against our company to present verifiable proof of any legal action.
"Our business interests and reputation are harmed by this misinformation."
The company issued a further warning, saying that it will not put up with unfounded allegations that harm its brand and bottom line.
"We are bringing legal action against the individuals disseminating these lies.
"Our goal in suing for N50 billion in defamation damages is to establish a precedent that will not be broken for unfounded allegations.
We implore the people to ignore the baseless accusations while we watch the legal proceedings take place. Promiseland Estate is sure that we will be vindicated and the truth will come to light.
Promiseland also advised potential customers to rely on reliable information rather than be influenced by unfounded allegations.
Promiseland Estate owners are steadfast in our resolve to do all business with the utmost integrity.
"At Promiseland Estate, our mission is to use real estate investing to lift people out of poverty and into prosperity.
For the benefit of everyone, both in Nigeria and the diaspora, we are dedicated to constructing 100,000 houses over the course of the next ten years and offering seamless housing solutions through creative investment plans.
"We are steadfast in our commitment to honesty, reliability, and sustainability. We'll keep creating neighborhoods that support social, economic, and environmental well-being.
"We have prioritized our clients' needs over the past ten years and promise to uphold the highest standards in all of our business dealings," the statement continues.
"We are still accepting new subscribers and clients at our offices and phone numbers," it stated.