Laurus to Develop 323 KSF Retail Project in Nigerian Capital
- May 15, 2014
Construction on Jabi Lake Mall, a 323,000-square-foot retail development in Nigeria’s capital Abuja, is underway, according to project and development manager Laurus Development Partners.
Jabi Lake Mall is the first phase of an ambitious 86-acre multi-phase, multi-use project, set to rise on the eastern shore of Jabi Lake. The site is owned by Duval Properties Ltd., a Nigerian L.L.C. focused on real estate investments via acquisition and development. Duval Properties is part of the joint venture Jabi Lake Mall JV, the project’s developer. Private equity real estate investor Actis, known for investing exclusively in emerging markets and Laurus Development Partners, a developer of environmentally sustainable and aesthetically, socially and functionally relevant projects are also part of the partnership. The latter two are also involved in the development of One Airport Square, West Africa’s first green commercial building.
The highly anticipated project broke ground at the start of 2014 and completed site preparations work in the first quarter, enabling general contractor Bouyges Construction Nigeria to start construction in March. With a planned opening in October 2015, foundation work is on track and progressing at steady stream, according to Laurus.
The waterfront destination shopping mall is being developed on the eastern shore of Jabi Lake, just five miles away from Abuja’s business center. The two-story Class A retail center, the first of its kind in Abuja, will feature a contemporary design and architecture, courtesy of South-Africa-based MDS Architecture. MDS has extensive experience in designing malls for the African market. Some of its most recent works include the Mall of Mozambique in Maputo, Mozambique, Mall of Zimbabwe in Harare, Zimbabwe and the Mall of the North in Polokwane, South Africa.
Jabi Lake Mall will feature 323,000 square feet of retail and entertainment space across two levels. Over 100 shops, cafes and fast-food outlets will cluster around a triple height promotion court offering expansive views of Jabi Lake, overlooked by the fast-food court featuring outdoor seating with lake views. The mall will further comprise a five-screen movie theater, an outdoors restaurant and café dubbed Boulevard, children’s play facility and a pedestrian-friendly and child-safe lakeside boardwalk. Anchor tenants include Africa’s leading retailer Shoprite, which pre-leased 53,800 square feet and Game, a discount retailer of general merchandise and non-perishable groceries, which will be opening its fourth Nigerian store at the mall. A two story parking facility will provide 733 car spaces.
By 2015, Jabi Lake Mall’s primary trade area will have a population of 352,502, the secondary trade area 1,123,043 and a total trade area of 2,405,186.
Further companies involved in the project include structural engineers L&S Consulting of South Africa, traffic consultants MIC of Milano, Italy and UK-based quantity surveyors Aecom and MEP and environmental engineers ChapmanBDSP. Leasing is being handled by DI Leasing and local CBRE affiliate Broll Property Services Ltd.