Michael Chu’di Ejekam – Jabi Lake Mall Nigeria. Abuja, Nigeria’s capital, is a city on the rise. While bustling Lagos may be the best-known metropolis in the country, Abuja is catching up fast. With one of the most rapidly growing urban populations in
Nigeria it contains a mix of government professionals, business people, diplomats and expats – people with money to spend and increasingly sophisticated shopping tastes to match.
The shores of Jabi Lake – a scenic spot west of Abuja’s business district make a good spot for a new real estate project – Jabi Lake Mall, in progress since 2006. In 2011, Actis and its partner, Duval
Properties stepped in to invest US$120m to move this 25,000 square metres project forward to completion. Built to the highest standards and at least 25% more energy efficient than other buildings in the area, Jabi Lake Mall is expected to become Nigeria’s premier destination for shopping and leisure when it opens in September 2015.
- Date of investment – 2011
- Location – Nigeria
- Sector – Real Estate
- Deal type – Expansion
- Investment amount – US$33m
Continuing the approach that has made its other malls in Lagos and Accra so successful, Actis has brought together its West African and international advisers to create a top destination with a distinctly
With a five-screen cinema, a children’s play area, waterfront dining and water sports on the lake, Jabi Lake Mall will provide a leisure experience for couples, families and friends to relax and have fun.
Actis expects Jabi Lake Mall to create over 2,000 jobs whilst attracting more than 300,000 shoppers every month. It will significantly boost businesses in the local supply chain and offer more affordable goods
currently unavailable in Nigeria. Jabi Lake Mall also promises be a good place for international retailers
to launch their products to the African market. Recognising this opportunity, Shoprite, the South African supermarket chain, and popular appliances store Game, secured their positions as anchor tenants before construction began in November 2013.
Whereas stylish Abujians might once have travelled to Lagos for their weekend shopping and relaxation, they will soon be able to find urban buzz and glamour closer to home. Thanks to Jabi Lake Mall the planes flying from Abuja to Lagos on a Friday night may soon be a little emptier.