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Construction commenced in Nigeria’s capital city of Abuja on a new $68 million shopping centre, Novare Gateway Mall, scheduled to open during the third quarter of 2017.
Developed by Novare Real Estate Africa, the total size of the mall will be approximately 25 000m2. The development will be phased with an initial stage of 15 278m2.
The total cost for the first phase is forecast to be $68 million.
Speaking at the ground-breaking ceremony held recently, the Nigerian Minister of Federal Capital Territory (FCT) Alhaji Mohammed Bello said his administration would give all the support needed to make projects like Novare Gateway successful as they serve citizens, create employment and generate multiplier economic activities.
He also commended Novare Gateway for partnering with the Abuja Chamber of Commerce in executing the project by leveraging on local expertise, local information and local content.
Commenting on the project, Jan van Zyl, head of property development in Nigeria for Novare Real Estate Africa, “its modern infrastructure and facilities, mean that the shopping centre is perfectly situated to meet the needs of the growing Abuja community.
According to the latest PWC African Retail report, Abuja is set to experience a growth rate of 171% in terms of its population size up to 2030 – one of the highest figures on the continent.
With Shoprite as the anchor, the centre is located on the main 10-lane highway between Abuja’s Nnamdi Azikiwe International Airport, named after Nigeria’s first president, and the central business district.
Other malls in Abuja forming part of the Novare Real Estate Africa portfolio include the 8 267m2 Novare Apo mall, which is located approximately 18 km away from Novare Gateway to the south-east of Abuja. In the north, the 12 508m2 Novare Central, a mixed use centre consisting of retail space and A-grade offices, is also in progress. In Lagos, the 22 000m2 Novare Lekki mall, which is expected to commence trading in the middle of 2016.