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N13bn Alade Mall to be completed in 2018

Alade mall

The concessionaire of the Alade Mall in Ikeja area of Lagos State, Master Reality International Concept Limited, on Sunday said the proposed mall would cost N13 billion and would be completed in December 2018.

Mr Lai Omotola, the Group Managing Director of the company, who addressed newsmen on the Alade redevelopment project, said 114 indigenous and foreign brands had shown commitment to taking spaces in the mall.

The structure of the old Alade market was in July dismantled following government’s approval.

Its entire land area was fenced off, finally giving way for the construction of the proposed shopping mall.

Omotola said that the former occupiers had been relocated, adding that the essence of the relocation was to pave way for a modern structure that would meet the mega city status of the state.

Upon completion, he said the mall would be the first 24-hour live, work, shop, eat and entertain smart mall in Nigeria and West Africa.

He said that the layout plan included two level basement parking lots for at least 700 cars, a ground floor and three floors.

Omotola said the mall would have 214 shop spaces, a metro hotel, cinema, walk in clinic, an aquarium occupying two levels of floors, restaurants, game shops, offices and common areas of entertainment.

“We have consciously taken our time not just to build a mall but to build a signature edifice that everybody from far and wide will want to come and do a little bit of tourism.

“ It is our hope and aspiration that come December 2018, we will have unprecedented shoppers witnessing the opening of the Alade Mall,” Omotola said.

He said that discussions were ongoing with the state’s Ministry of Physical Planning to perfect traffic arrangement in that area, considering the traffic the impact of the mall would generate.

“If you look at our plan, we deliberately shifted the mall backward to create a service lane for the people coming into the mall and then we have three exits for people to come out, ” he said.

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