Despite tough economic conditions, an estimated 20 000 shoppers descended on Novare Lekki, the largest shopping centre in Nigeria’s most populous city, Lagos, when it opened for trade on 25 August 2016.
Novare Lekki was developed by Novare Real Estate Africa at a project cost of $83 million and boasts 22 000 square meters of gross lettable area and is largest shopping mall in Lagos
With Shoprite and Game as anchor tenants, the mall has close to 100 shops, including restaurants and five Genesis cinemas, as well as 1 000 parking bays. Other tenants include Pep, Swatch, Levi’s, Spur, Nike, Sports World, Medplus Pharmacy and Standard Chartered Bank.
Represented by his Special Adviser on Commerce, Mr Benjamin Olabinjo, who spoke on his behalf at the opening of the mall, the Governor of Lagos State, His Excellency Mr Akinwunmi Ambode, said there was a need to create an enabling environment for commerce to flourish.
He said the multi-million dollar mall was testimony to foreign direct investment inflows into Nigeria as a result of investor friendly reforms.
Other speakers at the opening ceremony were the Chairman of Urshday, Professor Fabian Ajogwu, SAN, and Novare Equity Partners CEO, Mr Derrick Roper.
The new centre is easily accessible from the Lekki-Epe Expressway for residents from the Lekki Peninsula area, for which it is the primary retail node situated close to the Pan Atlantic University, Lagos Business School and Lakowe Lakes Golf and Country Estate.
Novare Lekki is a development of the Novare Africa Property Funds, which have a mandate to develop and manage modern retail and commercial facilities across sub-Saharan Africa, excluding South Africa.
Derrick Roper commented that Novare Real Estate Africa has a strong track record of successful retail and commercial property development in Africa.
“Our newest project, Novare Lekki, incorporates the latest elements in modern shopping centre design to provide visitors with state-of-the-art facilities in a user-friendly, safe and pleasant environment,” he said.
Given high levels of interest in the new centre, the opening celebrations spanned the weekend with a range of activities, including an entertainment show on the Saturday afternoon.