Lekki Mall, Three Others For Sale As Novare Plans Exit From Nigeria
Novare Real Estate Nigeria Limited (NREN), a prominent institutional investor and developer, has put up Lekki Mall and three other grade-A retail properties for sale.
The other three are Apo Mall, Gateway Mall and Novare Central Mall all in Abuja . The sale of these properties signifies an intention to exit Nigeria, as they are the company’s sole real estate investments in the country.
Lekki Mall, completed in 2016 occupies a 21,000 m2 space along the Lekki-Ajah expressway and houses renowned brands like ShopRite, Genesis Deluxe, JED Lifestyle, and Miniso.
Apo Mall Abuja is situated in the Dutse area of the Federal Capital Territory (FCT) covering 8,000 m2 and boasts a remarkable 97 per cent occupancy rate as of June 2023. It hosts notable brands such as Megastores, PEP, BAFFI Furniture, Krispy Kreme, and Shoprite.
Gateway Mall Abuja was completed in 2017 and is located along the airport road in Abuja. It occupies a 14,000 m2 area and features renowned firms like BAFFI Furniture, Funworld, Genesis Deluxe Cinema, and EHA Clinics.
Novare Central Mall: Situated in the Wuse Zone 5 area, this mall occupies an 11,000 m2 area and accommodates brands like ShopRite, The Vue, Esteem Furniture, and Active Leisure.