A Multi-million dollar Shopping Mall is set to be constructed in Ikeja area, Nigeria; this is after the Local Government of the area settled their disputes with the residents.
Multi-million dollar Shopping Mall
The mega mall expected to cost US$50m will be constructed on the same location as the old Alade market after the structure was dismantled and the whole land was fenced off to indicate that the land will fully be used on the mall construction.
Master Reality International Concept Ltd is the company that took over the old market after the Lagos State Government and the President-General of Association of Commodity Market Women and Men, Chief Folashade Tinubu-Ojo, authorized the shopping mall.
Tinubu-Ojo applauded the government and the market concessionaire for the mega and much anticipated redevelopment plan of the market.
According to the developer, the new mall dubbed Alade Market will stand magnificently on four floors and upon 1.5 hectares of land.
The new development which has been designed to contain 530 cars, will equally offer business spaces or shops with sizes ranging from 11 square meters for the smallest to 500 square meters for the largest so that it accommodates different sizes of business operations. The developer intends to attract some anchor tenants with the 500square meters size shops.
The project which is being conceived by Ikeja Local Government will encompass some unique features like a massive aquarium, ultra-modern games that promises lots of fun and adventure for children, a crèche and a mini clinic for health and safety intentions.
The development of the mall has been stalled severally for the past 11 years due to the intense resistance of the present Alade Market traders for unselfish reasons.
Master’s Reality International Concepts limited in 2010 won the contract to develop the modern Mall through an open bidding process.
In recent years, there has been mushrooming of malls in several countries in Africa mainly due to a burgeoning middle class and changing lifestyle in the continent. Mega malls in Africa includes: South Africa’s Mall of Africa, Kenya’s Two Rivers mall and Hub Karen also in Kenya.