M a r k e t N e w s

Nigeria: U.S.$44 Million Owerri Mall to Give Huge Boost to Retail Sector

Posted on : Tuesday, 29th March 2016

The Nigerian retail sector is taking a big leap forward, with the unveiling of Owerri Mall in the Imo State capital - courtesy of a South African-based property developer - Resilient Africa.

The property, located at Egbu Road, housing 45 trading outfits including Shoprite was commissioned last week by the Imo state Governor, Rochas Okorocha.
The project was in partnership with Messrs Somachi Investment Limited, a company owned by the Chairman of Owerri Mall Development Company, Herbert Chikwe, which provided the land, and Messrs Terrestria Group, Median group and Tidllock group.
Sitting on 9,950 square meters of land, the total cost of construction was $44 million. Shoprite is the Anchor tenant with a ground land area of 3,500square metres and has also commenced trading activities.
Chairman of Owerri Mall Development Company, Chief Herbert Chikwe said his "long struggles and perseverance to build a modern market 35 years ago, has manifested even bigger and more magnificent contemporary mall, comparable to the best anywhere in the world".
Chikwe said Owerri Mall is his contribution to Owerri city's development. "Owerri Mall is an attractive shopping destination to the lower, middle and upper-income levels effecting centrality, accessibility and visibility.
"The finished product of the Owerri Mall Shopping Centre, not only meets, but exceeds all our expectations, it is with pride that pioneer and landmark Shopping Mall is presented to the Owerri Community", he said.
Imo State Governor, Rochas Okorocha, expressed satisfaction with the project."
Managing Director of Resilient Africa, Mr. Jason Buhr, said they were encouraged by Imo government's cooperation in developing the trading centre, adding that they have 10 other projects in Nigeria to be completed in about two years.
The Centre manager of Owerri Mall Development, Mr. Bayo Anifowoshe said they have built a world-class property, equipped with all safety gadgets and facilities.
He noted that the Owerri Mall development project has provided direct jobs to 2,000 persons, and would engage hundreds of others in supplying business.
"The Owerri Mall, apart from all the needed comfort, also provides the necessary security. Its 24 hours uninterrupted security, not limited to human personnel, but also complimented with electronic devices".

Source : allafrica.com
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