UPDC commissions N5bn mall in Festac

UACN Development & Property Company (UPDC PLC) has commissioned its N5 billion mall in the  Festac area of Lagos state. The project which it flagged off two-and-a-half years ago was completed last month. It has such facilities as 500-car park bays, sewage treatment plant, water treatment plant, fire alarm and firefighting system, 24/7 CCTV surveillance […]

UACN Development & Property Company (UPDC PLC) has commissioned its N5 billion mall in the  Festac area of Lagos state.
The project which it flagged off two-and-a-half years ago was completed last month.
It has such facilities as 500-car park bays, sewage treatment plant, water treatment plant, fire alarm and firefighting system, 24/7 CCTV surveillance system, armed police patrol and independent power plant.
Speaking at the commissioning ceremony, UPDC Managing Director, Mr. Hakeem Ogunniran disclosed that the mall was developed by UPDC through the vehicle of First Festival Mall Limited, a joint venture between UPDC Plc, Africa Capital Alliance and UPDC Real Estate Investment Trust REIT.
He said Festival Mall project was conceptualized in 2011, generally due to absence of modern formal retail channels in Festac and its environs.
The mall was born out of UPDC‘s desire to create a destination point for Lagos State residents around Festac, Amuwo-Odofin, Mile 2, Ojo, Alaba, Orile and Okota to have an experience of a formal shopping mall.
The mall is located in a commercial/entertainment node that includes the newly built Golden Tulip Hotel & Conference Centre and The Residences, a block comprising 195 Condominiums.