The demand for shopping centres in Lagos has led to a surprise change in plans in the construction of the multi-billion naira Victoria Mall Plaza, a mixed-use complex being built by UACN Property Development Company Plc (UPDC), the Daily Independent reports.
The N5 billion facility features commercial, residential and recreational areas as well as a car park.
UPDC is constructing the project in phases with the first 12 storey block of 36 apartments already in an advanced stage of construction. Phase II comprises a 15 floor office complex, phase III a shopping mall with car park and phase IV another residential complex.
A survey that reveals the high demand for modern shopping malls in Lagos has however caused UPDC to change their plans and jump straight to the construction of the shopping mall complex.
The Daily Independent quotes UPDC managing director, Abdul Bello saying that the company has discovered from a survey that there is a significant demand for shopping mall facilities in Lagos and decided to take hold of the opportunity.
He said that construction on the office complex will be halted and that the company is immediately starting with work on the shopping mall.
Bello added that the residential complex (phase I) is nearing completion and that sample units have already been prepared for prospective buyers.