Cocoa Mall set to redefine Ibadan retail experience

Retail shopping experience is set for a new definition in the ancient city of Ibadan, Oyo State, as the Cocoa Mall, located in a cosy environment in the city, opens officially in October this year with a few shops already open since August 1 while others are fitting out for commencement of business.

With the recent entry of big retail shops like Shoprite, Spar and Massmart into the country, Nigerian consumers have become aware of the benefits of shopping in a more conducive atmosphere as opposed to the usual rowdiness and tedium of the open market.

Mega stores, which was once available in western world, is now the future of retail market in Nigeria. Joining the league of mall but with a class is Cocoa Mall in Ibadan, Oyo state. With the mission to boost patronage of made-in-Nigeria goods, Cocoa Mall is set to excite consumers with the opening of state of the art edifice that house multinational brands.

The malls (Cocoa and Heritage) have the likes of Shoprite, Pep, Medplus, Ruff ‘n’ Tumble, Mr.Price, Cash N Carry, Bus Sen, Healthplus, cinema among others as anchor tenants and this, among other reasons, made it a sought-after to both buyers and sellers of quality products and services.

The determination of Cocoa Mall is to dominate the market in terms of footfall, sales volume, rental values and occupancy rates. The trend is expected to continue in the coming years.
Speaking on the mall, the possessor of the Cocoa Mall, a renowned architect and the developer, Tokunbo Omisore disclosed that the strategic location of the mall and its link to the Heritage Mall makes it a sought-after likewise the relatively affordable cost of acquiring spaces in the mall.

“Cocoa Mall is of international standard in terms of structure and pricing and it’s the first of its kind in Oyo State. The pricing is not just of space acquisition but also of the goods and services rendered by the residents which is an affordable development to the area. Though the mall is a huge investment, we have set reasonable time for return on investment on the project.

“The mall is 80 per cent allotted and paid for by prospective shop operators of repute in the growing country’s retail industry. We have multinationals and also those who are growing their businesses as occupants; these are people who are set to majorly project made-in-Nigeria goods”, he disclosed

He added, “other reasons for developing the mall are to create employment, tackle the rise of unemployment in Oyo state and bring back the good memories of days of Kingsway Stores, Leventis and UTC”.
The coming of many brands to be part of Cocoa Mall will create employment opportunities for the creative minds in the state. The number of people visiting the Mall on a daily basis opens doors for business owners to gainfully employ more hands in rendering worthwhile services to consumers.