Development: Calabar Mall, Calabar – Cross River – Real Estate Market Data and Research for Nigeria and other African Countries | estate intel

Development: Calabar Mall, Calabar – Cross River

Calabar Mall Spar, Calabar - Cross River. Image Source: Calabar Blog. July 2016.

Earlier this year, The Artee Group, owners of the Spar Franchise in Nigeria, took to Cross River State in a bid to expand its presence in the country. After the acquisition of c. 30,000 m2 of land from the Calabar cultural centre in 2014, the Artee Group completed and opened the 5,000m2 hypermarket in July 2016.

Spar Calabar is the largest outlet in the franchise in Nigeria, which includes 10 outlets spread out across Lagos, Abuja, Port Harcourt and now Calabar. Artee Group explained that they decided to invest in this hypermarket as part of their aggressive growth strategy for 2016. By the end of 2016, the group to plans for Spar to become a 5 city operator with over 40,000m2 of retail space from 12 stores. New locations include Abia, Enugu and Asaba.

  • Developer: Artee Group, Owner of Spar Franchise;
  • Use: Retail – hypermarket;
  • Size: c. 5,000m2 of Retail Space;
  • Size of land: 30,000m2;
  • Cost of land: N232 million;
  • Opening Date: 6th July 2016.
Calabar Mall Spar, Calabar - Cross River. Image Source: Calabar Reporters. July 2016.

Calabar Mall Spar, Calabar – Cross River. Image Source: Calabar Reporters. July 2016.

Calabar Mall Spar, Calabar - Cross River. Image Source: Calabar Blog. July 2016.

Calabar Mall Spar, Calabar – Cross River. Image Source: Calabar Blog. July 2016.