Lakeside mall promises sophistication in Abuja

Abuja, the heart of the Federal Capital Territory (FCT) of Nigeria as the seat of power is becoming the most attractive central nerve of the country with an average Nigerian/corporate entity aspiring to have a feel of city. This urge to be in Abuja isn’t only residing in the Nigerian people because foreigners are as […]

Abuja, the heart of the Federal Capital Territory (FCT) of Nigeria as the seat of power is becoming the most attractive central nerve of the country with an average Nigerian/corporate entity aspiring to have a feel of city. This urge to be in Abuja isn’t only residing in the Nigerian people because foreigners are as well coming to put stakes.
Apart from the tourism attractions in the FCT, many business inclined individuals and organisations will want to take advantage of a fast growing and prosperous city of the West African region with the high population growth rate of 5 percent to 9 percent per area.
Abuja is projected to witness 16 percent increase in population and households over the next three years.
This has resulted in rapid urbanisation, rising incomes, strong GDP growth and strong demand for quality assets making Abuja an extremely attractive location for various projects.
One of such key projects is the recent commencement of Jabi Lake shopping mall, a vibrant new 35-hectare mixed-use development worth $100million initiated by Actis.
Actis Director of Real Estate, Amanda Jean-Baptiste said apart from the promising feature of the Nigerian capital city, Abuja is a key market for South Africa retailers and this informed FCT as the best choice for such a project.
She explained that the Jabi Lake Mall’s location is strategic to capitalise on domestic and South African retailers, seeking expansion in West Africa, in addition to the increasing interest from European retailers.
The project which is a joint venture between Actis and Duval Properties, Jean-Baptiste explained has its development and construction managed by Laurus Development Partners, a portfolio company of Actis with the teams comprising MDS (architecture), Chapman BDSP (MEP); L&S Consulting (structural engineering), Davis Langdon and Tilliyard (quantity surveyors/cost consultants); and MIC Mobility in Chain (traffic consultants).
According to her, the mall’s catchment population is 2.1 million and is expected to grow to 2.5 million by 2015.
 She said, “Positioned in a prime area of Abuja – 10 minutes from the Central Business District and on the shores of Jabi Lake with excellent visibility from the main highway into Abuja (the Shehu Yar Adua Freeway), it is located in an area with infrastructure considered to be Nigeria’s best. It has a fast growing catchment area with significant retail demand and strong interest from anchors Shoprite & Game.”
Jean-Baptiste disclosed that Jabi Lake Mall is expected to be Abuja’s first one-stop leisure, restaurant and retail destination for both residents and visitors and the largest in Nigeria.
She noted that the two storey mall will feature contemporary architecture and a lakeside boardwalk with beautiful views over the water and cinemas, restaurants, cafes and children’s arcade.
 Jean-Baptiste said the project is aimed at meeting the desires of Nigerians who want a compelling retail experience with leisure facilities and high quality brands as a place to live, work, shop and get entertained.
She said, “For the duration of the construction, significant jobs will be created. We will also see an expansion of the retail supply chain, over 2000 jobs will be created during post construction and operation of the mall. We expect to see a significant procurement of local materials for construction.
“Finally, it will enhance commercial development in Abuja which will have multiplier effects in the economy. Local authorities are highly supportive of the project – the assistance and cooperation of the local authorities has been first rate which has allowed us to meet our delivery programme.”