FOREMOST real estate firm, UAC Property Development Company (UPDC) Plc, last weekend commenced the construction of a N5billion retail outlet, known as Festival Mall, located beside Golden Tulip Hotel, Festac Town, Amuwo Odofin Local Government Area of Lagos State.
The project, according to the developer, was conceptualized in 2008, and it became imperative due to the lack of proper and formalized retail channel in Festac and its environ.
Also, UPDC’s desire to create a destination point for Lagosians within that region, which will offer a complete and sustainable environment for work, hospitality, recreation and an experience of a formal shopping mall, also led to the birth of Festimal Mall.
The mall will provide delightful shopping experiences to residents of Festac Town, Mile 2, Crystal Estate, Anchorage Estate, Okota, Navy Town and its environ.
The total land area for the combined facility is 8.778 hectares, of which 3.2 hectares representing 36 per cent of the total land was earmarked for the proposed shopping mall. It has a gross buildable area of 12,722sqm, 10,071 square metres of leasable space, comprising of 4,508sqm of retail line shops, 1,035 of F&B shops, cinema of five viewing screens and 3,320sqm of anchor space.
Speaking at the sod turning of the mall last weekend, Chairman, UPDC, Mr. Larry Ettah, said, when they acquired Durbar Hotel in 2002 under the privatization programme of the Federal Government of Nigeria, their goal was to take over an edifice that was once a national pride and re-create it as a tourist destination that will reshape the entire landscape of Amuwo Odofin and indeed Lagos state.
According to him, a part of that dream was achieved in July 2011, with the formal commissioning of Block A of the facility as Golden Tulip Hotel and Conference Centre with 349 rooms adding that an additional 120 rooms will added to the hotel in due course.
On the mall, Ettah said: “This ground breaking ceremony today represents another significant stride in the journey embarked upon by our company in 2002. Let me reiterate that we are committed to creating a best in class mixed development on this site – comprising of offices, residences, shopping and complimentary recreational facilities.
In line with UPDC’s mission of creating comfortable living and business environments for our customers, we believe that Festival Mall will provide delightful shopping and entertainment experiences to the teeming populace of Lagos, especially the residents of Festac Town, Amuwo Odofin, Mile 2, Okota, Isolo, etc. The complex, when completed will also generate further employment opportunities for thousands of people besides reshaping the socio-economic landscape of this area of the state.”
In his comment, Chairman, Amuwo Odofin Local Government Area, Mr. Adewale Adebowale Ayodele, expressed delight for such project to be sited in his domain, saying it will bring more development along the axis, pledging his support to the mall.
“This is a major development within our neighborhood, which will further add to the investment opportunities in FESTAC, and we shall do all within our reach to ensure smooth construction of the project. No doubt, a project of this magnitude will reduce unemployment rate in this Local Government Area and we shall do all to promote it. At our level, we are working to ensure that the business environment is investment friendly so that we have more infrastructure development in this local council.”
Managing Director, UPDC, Mr. Hakeem Ogunniran, said the project has 18 months construction period, which means by December 2014, the mall would be opened for shoppers.
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