Richards, Investors Plan N300m Lekki Tech Complex

Grand plan for the construction of a mega shopping mall in the prime area of Lekki in Lagos may have begun in earnest, with conclusion of preliminary works by the promoters who are set for the actual turning of sod activities early next month.   

The project being midwife by Messrs Richards Infrastructures Limited has already received massive support of investors and Lagos State Government in a bid to decongest the ever busy Computer Village in Ikeja. 

It is located along the newly constructed Lekki-Epe Expressway, and directly in front of Abraham Adesanya Estate, in Ajah. It has proximity to the Lekki free trade zone and newly proposed Lekki International Airport.

Designed by the architectural firm of Gab A Associates, the complex is estimated to gulp N300 million. The proposed complex christened Lekki Technological Complex is projected to have 167 shops for show rooms, business offices, phone repairers and retailers. For out right purchases, each shop goes for N350, 000 per square meter.

Messrs SSL Project Limited has been picked as the main contractor.  According to the developer, foundation, filling and construction will commences in March 2014. Completion date is estimated for December 2014 and handover to shop owners will be in the first quarter of 2015. However, the contractor has been given project duration of 18 months.   
  

Among the private investors to the project is Messrs Asbeach Nigeria Limited. Discussions have also reached advance stages for other investors who are proposing to come in as off takers. They include Slot MTN, GLO, Samsung, Computer and Allied Dealers Association, Otigba branch. 

The investors have indicated interest to establish business outlets and experience centers in the mall. The Lagos State Government has already issued a Governor’s Consent on the land. Prospective shop owners will get title, which will be released upon full payment.
Payment can be in full or in mile stones, initial payment of 30 per cent and the balance due within eight months.

The Chief Operating Officer, Messrs Richards Infrastructures Limited, Mr. Dayo Oyedele told The Guardian that the complex is will be a one stop centre for individuals and corporate organisations that commute to Ikeja for their technological needs. He plans to use the project woo residents along the Lekki-Epe corridor. 

“Reality has shown that there is a huge development and population drift to the Lekki - Epe axis. The driving factors have been the Free Trade Zone and availability of undeveloped land. The Lekki axis is known for several elitist residential estates and communities such as VGC, Lekki phase 1, Nicon Town, Northern Foreshore, and Thomas Estate. There are other low income residential settlements such as Agungi, Ajah, Badore, and Osapa.” 

Oyedele disclosed that nature has strategically assembled major dealers and retailers of these items at Computer Village Otigba- Ikeja and Saka Tinubu in Victoria Island of Lagos. These markets are not planned with too many roadside minor players and chunks of major brands representatives occupying the residential houses that have been converted to shops and stores. “We are providing state-of the art centre and conducive environment for both the owners and shoppers.”    

On why the developer preferred the specialized development, he said: “The use of computers and other electronic gadgets for everyday life activities has become the order of the day in Nigeria. Electronic items like computers, phones, printers, photocopiers, cameras, Television sets and so many other gadgets and spares consumables.

The promoter is also planning Wi-Fi and Internet facility at a very cheap rate for all shop owners, business guests, ICT Training and development. Other features of the proposed complex include banking facility, eatery and lounge, ATM facility, constant power supply through standby generator, 24Hours security, ample parking space, adequate water supply, and toilet facility and warehousing facility.   

Oyedele confirmed that prior to the commencement of construction - bush clearing, excavation, sand filling, and perimeter hoardings have taken place at the site; said, there has been an upsurge in off plan sales and request by the several off takers. He added that the complex will be offering business growth and company expansion opportunity for small, medium and big Organisations, even start up companies as there will be access to a pool of several ICT dealers with diverse product line and the shops affordable with easy payment plan.