Alade Mall To Cost N13b, To Be Completed In 2018

ALADE MALLAlade Mall, Ikeja
  • Alade Mall To Cost N13b, To Be Completed In 2018

The concessionaire of Alade Mall in Ikeja, Lagos State, Master Reality International Concept Limited, yesterday said the proposed mall would cost N13 billion and would be completed in December 2018.

The Group Managing Director, Lai Omotola, said 114 indigenous and foreign brands had shown commitment to renting spaces in the mall.

The News Agency of Nigeria (NAN) reports that the structure of the old Alade market was in July dismantled, following government’s approval.

Its entire land area was fenced off, finally giving way for the construction of the proposed mall.

Omotola said the former occupiers had been relocated, adding that this was to pave way for a modern structure that would meet the state’s mega city status.

Upon completion, he said the mall would be the first 24-hour live, work, shop, eat and entertainment smart mall in Nigeria and West Africa.

He said the layout plan included two level basement parking lots for at least 700 cars, a ground floor and three floors.

Omotola said the mall would have 214 shop spaces, a metro hotel, cinema, walk in clinic, an aquarium occupying two levels of floors, restaurants, game shops, offices and common areas of entertainment.

“We have consciously taken our time not just to build a mall but to build a signature edifice that everybody from far and wide will want to come and do a little bit of tourism.

“It is our hope and aspiration that come December 2018, we will have unprecedented shoppers witnessing the opening of the Alade Mall,” Omotola said.

He said discussions were ongoing with the Ministry of Physical Planning to perfect traffic arrangement.

“If you look at our plan, we deliberately shifted the mall backward to create a service lane for the people coming into the mall and then we have three exits,” he said.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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