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Developing a Shopping Mall in Nigeria Costs $4,109 Per Square Meter

Following the introduction and growth of modern retail across Nigeria over the last decade, more investors – international and domestic alike – are pouring capital into the development of shopping malls. An analysis of completed, planned and on-going shopping center developments illustrates that it costs these investors $4,109 per square meter to complete these malls. As the graphic below shows, malls in Lagos are slightly […]

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Development: The Mandarin, Victoria Island – Lagos

Name: The Mandarin; Location: Victoria Island, Lagos – Adebisi Omotola Close, Off Samuel Adedoyin Street; Floors: 6; Site Area: 3,400sqm; Use: Residential; Architects: pm + cdc associates; Sales & Marketing: J.S. Realty; Developers: Joint venture between LSDPC (Lagos State Development and Property Corporation) and Orangeline Design + Development Company; Expected Completion: Q2 2018. Through a new joint venture agreement, Orangeline Design and Development […]

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Resilient Africa is Investing $271m in 2nd Tier City Shopping Malls

Updated: 3rd August 2015 By year-end 2016, Resilient Africa is set to have invested $271m developing shopping malls in 2nd tier cities across Nigeria. The company, which was created through a joint venture with Resilient Properties – a leading South African REIT, Shoprite and Standard Bank, is attempting to establish a strong foothold in cities where little or no […]

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Let The Cladding Begin

As office developers in Lagos leave concrete focused designs behind to adopt proper curtain walls, glass cladding and floor to ceiling windows, they are ushering in a new era for the city’s property market and renewed hope for a more modern skyline. Projects like Heritage Place, The Wings, Madina Tower and more are changing the appearance of what’s on offer for new tenants/occupiers. Seeing as […]

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Development: Ramada Plaza Business Hotel, Lekki – Lagos

Name: Ramada Hotel Developer: Kunech Investments Limited Use: Hotel Rooms/Keys: 170+ Location: Ikota – Lekki Epe Express Way Expected Completion: Late 2015 In December 2013, the Hospitality Division of Kunech Investments signed a franchise agreement for their new hotel project on the Lekki-Epe Expressway. The project, called the Ramada Plaza Business Hotel is expected to be a 4 […]

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Ranked: The Top Contractors Changing Lagos’ Office Skyline [Infographic]

The amount of office space under construction continues to grow as developers increasingly make bets that the requirements for prime office space in Lagos will rise. Some of the contractors/construction companies helping these developers build their assets have emerged as market leaders and this infographic seeks to illustrate this. Based on available data collected, this infographic ranks the contractors changing […]

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Lagos State & Rendeavour enter Joint Venture for Mixed Use Project

Rendeavour, an African urban land developer, has signed a joint venture agreement with the Lagos State Government and Lekki Worldwide Investments Limited for a mixed-use land development within the Lekki Free Trade Zone. The multi-billion Naira project is said to include the development of world-class infrastructure while creating thousands of jobs. The firm’s development formula involves working with local developers, […]

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South African Investor Acquires 37.1% in The Wings Office Towers

Earlier this month, a South African property investment and development company named Pivotal entered into an MOU to acquire a 37.1% shareholding in the $104 Wings Towers office development in Victoria Island, Lagos. Pivotal will join Oando and RMB Westport as a new joint venture partner for this development, which intends to bring in 27,000 sq. […]

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Prime Office Completions in Ikoyi

As the first half 2015 begins to elapse, landmark office developments in Ikoyi including the BAT Rising Sun, Heritage Place (15,600sqm) and Temple Tower (15,000sqm) are slowly nearing completion. Last week, Heritage Place conducted its topping out ceremony with the Commissioner of Physical Planning marking a significant milestone and the obvious drive to fully clad and complete the building […]

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Development: Delta Mall – Effurun, Warri

Name: Delta Mall Location: Effurun, Warri – Delta State Size: 13,980 sq. m. Anchor Tenants: Shoprite, Jet, Mr. Price Expected Completion: Q2 2015 Developer: Resilient Africa Cost: $55m Investment interest continues to grow in 2nd tier cities as more developers like Persianas and Resilient Africa are keen on taking advantage of Nigeria’s undersupply of modern retail. Delta Mall, which is […]

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