Michael Ejekam has been involved in the creation of several malls, including the Ikeja City Mall and the Jabi Lake Mall, as well as the Abuja and Accra Malls. These kinds of projects are always exciting, as they show that investors have faith in the economy and they bring jobs and growth to the area. Although Michael Ejekam was not involved in the newest mall to open in Lagos, Nigeria, it’s still good news for local residents.
The Maryland Mall is Open
Onikepo Akande, President of Lagos Chamber of Commerce and Industry (LCCI) spoke at the inauguration celebration. “It is my sincere belief that this new mall will help to expose and grow the manufacturing and commercial potential of Lagos state and by extension, the national economy,” she said. Anchored by a Shoprite store, with many other venues for entertainment, shopping, and services, the location is expected to do quite well. Many businesses are eager to take up slots in the 7,700 square metre property, including companies like Stanbis IBTC Bank and The Place restaurant. Akande gives credit to the team behind the new development, explaining, “Indeed, retail is one of the cornerstones of trading and investment, and Purple Capital, the developers of Maryland Mall, have done extremely well to give Maryland a new lease of life through this retail investment.”
It’s a Unique Structure in a High-Volume Area
The Lagos State Ministry of Transport carried out studies of the area, highlighting traffic patterns and the best way to position things. It’s estimated that 5,000 cars will pass by every single hour, which will bring people naturally to the mall throughout the normal course of their days. Unlike most structures being built today, the Maryland Mall is built lengthwise, rather than reaching into the air. It also boasts a few unique features, such as an underground parking lot, which is the first one in the country. Developers has also included a massive 550 square metre LED screen on the front of the building, which is the largest in all of Sub-Saharan Africa. It’s estimated that the structure cost some $25 million to construct, and took roughly three years to bring to fruition, from the early investing stage through opening day. So far, it has been well-received by local residents, who have largely been treating visits as a family outing and appreciating the nice cool air conditioning.
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If you haven’t done so yet, please take a moment to bookmark the Michael Ejekam Blog. We’ll be adding all kinds of articles pertaining to retail, investment, and commercial enterprise throughout Nigeria and all of Africa. From time to time, we’ll also add in insights directly from Michael Ejekam, so expert advice and opinions on the market will always be at your fingertips.