New retail opportunity, shopping experience coming as Asaba Mall opens in 5months

Opportunity for prospective retailers and a new shopping experience for shoppers are coming the way of the residents of Asaba and environs as the $45 million Asaba Mall readies for delivery in the next five months of this year.

The mall which sits on a gross floor area of approximately 9,500 square metres with approximately 7,500 square metres lettable space is located at the popular Interbau Roundabout where Summit and Okpanam Roads intersect, just by the flyover in Asaba, the Delta State capital.

A project promoted by Resilient Africa (Pty) Limited which is a joint venture between Shoprite and Resilient REIT, Asaba Mall has 39 shops of various sizes with the anchor shop spread out over 3,000 square metres already taken up by Shoprite—the South African retail chain.

The mall is targeted at retailers who operate locally, nationally and internationally and trade on a wide range of goods and services such as boutique, entertainment, furniture, household goods, fashion, IT and electronics among others and for this class of retailers, opportunity is beckoning.

The retail facility is the third in the country by Resilient Africa after Delta Mall and Owerri Mall, located in Warri and Imo State respectively, and covers a land area measuring 50,000 square metres. Construction commenced on the mall in June 2015 and has so far achieved 75 percent completion.

While Resilient Africa (Pty) Limited, Delta State Government and Bayol Development Company Limited are the equity owners of the mall, Formwork Nigeria Limited is the main contractor and the professional team comprises a list of well known companies.

These include WSP for mechanical and electrical engineering, Pro-M for air-conditioning and mechanical services and Profica as project manager. Messrs NWS Nigeria Limited are the project quantity surveyors and LYT Nigeria Limited are the Architects. Broll Property Services and Bullnet Brokers are the joint leasing agents.

Eddie McDonald, CEO, Resilient Africa, explained in a statement in Lagos at the weekend that the choice of Asaba for the mall was based largely on demographic factors, a strategic and commercially viable location and the average disposable income of the residents among others. It was also largely driven by the desire of Shoprite to establish a foothold in Asaba.

McDonald stressed that some other major cities in the country, namely Port Harcourt, Benin, Uyo and Abeokuta, have been slated for the location of Malls under their brand.

Asaba Mall is proposed for lease and the regular lease term is two years while the rents can be conveniently paid quarterly to ease cash flow for the retailers. The mall is conceived and planned to be finished from floor to roof to international standards for which the commercial brand is known globally.

Similarly, the range of facilities including central air-conditioning and back up electricity generators and others that will be provided are exclusive and state-of-the-art. Security is assured with smart, eagle-eyed personnel working closely with electronic gadgets while ample parking space is available for retailers and shoppers alike.

McDonald revealed that a Tenants’ Forum had been slated for August 24, 2016 in Lagos, adding that an invitation was extended to potential tenants to make contact with any of the leasing agents to indicate their interest.