Lagos is working
Source: http://mrstanleynwabia..com/2012/10/newtejuosho-shopping-complex-nearing.html

[size=13pt]NEW TEJUOSHO SHOPPING COMPLEX NEARING COMPLETION (PICTURES)
The new Ultra modern Tejuosho shopping Complex is slowly but certainly nearing completion. This project has been in the pipe-line for over ten years but it took a 'mysterious' fire outbreak at the old Tejuosho Market in 2007 before aggressive construction could commence. Five years down the line and the project is really beginning to take shape.

The New Tejuosho Shopping Complex is fully financed by First Bank of Nigeria Plc and is being undertaken by Stormberg Engineering Limited under the Public-Private-Partnership programme of the Lagos State Government for 25 years. The edifice sits on approximately 3.062 hectares and it is strategically located in Yaba.

The main shopping complex, when completed will provide major retail and wholesale market opportunities for the teaming Lagos population. The new complex encompasses 4,040 shop units of various sizes ranging from 9 metre squares to 12, 19, 23 and few larger units of 142 metre squares for banking and restaurant uses as well as Kee-Klamps. The shops units are arranged on four levels: Upper ground level, entrance level, level three and level four.

Prices of shop units range from N5.4 million or N600,000 per square metre with prospective buyers having the opportunity to pay by instalment. The new shopping complex, when completed will offer the following array of modern retail facilities and amenities: Multi level parking for over 720 cars, efficient internal traffic system and management, lifts and elevators for shoppers and cargos; serviced fire station, police station and uniformed security patrols.

Nigerian business men and women in the Diaspora interested in setting up shop in Nigeria SHOULD also take advantage of this property. It is a worthwhile investment.

This project is indeed a sight to behold and even though provision is already being made for a fire station; my prayer is that the Lagos State government ensures that an even more sophisticated fire prevention and protection facility is installed. I know what I’m talking about.

Oga Fashola, please take note o!

See Pictures below:[/size]

[size=13pt]More pictures[/size]
courtesy:http://mrstanleynwabia..com/2012/10/newtejuosho-shopping-complex-nearing.html

This is really nice. All markets in the country should be like this, unfortunately tomatoes sellers can't pitch tent here.

i hope they made provision for where Danfo drivers will park and load their passengers o!

feelamong: i hope they made provision for where Danfo drivers will park and load their passengers o!

Yaba bus stop. I believe the LRT will also have a train station there (the former rail line market).

This is obviously not for the middle class or low income earners... But what can anybody sells in this complex to justify the huge investment he/she has made in terms of rent? Definitely not Okrika wears or pepper.. ##just musing###
www.citypulseng..com

citypulseng: This is obviously not for the middle class or low income earners... But what can anybody sells in this complex to justify the huge investment he/she has made in terms of rent? Definitely not Okrika wears or pepper.. ##just musing###
www.citypulseng..com

I'm still trying to find the earlier reports on this project and the Oshodi project. If I remember correctly they intend to use the Jakande funding model, I.e. Tenants will be given a government guaranteed mortgage and will pay small sums per month or per year for a period of 10-25 years. Don't quote me on that, I'll try and find the previous stories.

If mortgage provisions are made...that would be nice....but how about the man-know-man prob for naija....wey be say na politicians and senior government workers wives, girlfriends and aristos go first get spot....na that one I no get

I hope it won't be as expensive as the New Oluwole Market on Lagos Island.

blink182: This is really nice. All markets in the country should be like this, unfortunately tomatoes sellers can't pitch tent here.

Exactly. I think this should be the model for all markets in Nigeria.

This one no be for poor man oh.. Na dis kain place one cup of garr! Dey sell for 2500naira.. If i get money,i go open shoppping complex for poor/middle class people cos na there money dey pass.. When cowbell release their N10 sachet milk,peak milk begin laugh them,not knowing that for every one tin of peak milk bought,1000 sachets of cowbell have also been bought by the poor...

Kslib: This one no be for poor man oh.. Na dis kain place one cup of garr! Dey sell for 2500naira.. If i get money,i go open shoppping complex for poor/middle class people cos na there money dey pass.. When cowbell release their N10 sachet milk,peak milk begin laugh them,not knowing that for every one tin of peak milk bought,1000 sachets of cowbell have also been bought by the poor...

FIRST HAIL THE GOVERNMENT. THEY TRIED ON THIS

Hope it's affordable sha?

@ poster, SHOPPING MALL or MARKET ?

citypulseng: This is obviously not for the middle class or low income earners... But what can anybody sells in this complex to justify the huge investment he/she has made in terms of rent? Definitely not Okrika wears or pepper.. ##just musing###
www.citypulseng..com

that is no problem, high net worth individuals or those with access to loans simply buy as many stores as they can then in turn rent it out to okrika seller or whoever for the normal 2 years rent.

mall mall mall everywhere. and they say there is no money in Nigeria.
Crap.

a1solution: FIRST HAIL THE GOVERNMENT. THEY TRIED ON THIS

hail who? No be dem dey try to burn dat place and they succeeded,

I no fit locate oga ik shop again or bra section! . Kudos to d govt

You guys should not waste your time on MORTGAGE.... The shopping complex have been long occupied even before the commencement of the construction of the building. A m talking of as far back as 2009... each unit was Leased at cost above #1million....

Before lagosians begin to celebrate the completion of a multi purpose modern market, they should inquire how much a shop space goes for....I can place a bet that the cheapest space there would go for over a million naira.

Its one thing to build a market, its another thing to make it affordable to the average man.

publisher: Lagos is working
Source: http://mrstanleynwabia..com/2012/10/newtejuosho-shopping-complex-nearing.html

No generator ? No air conditioning ? Bull$hit

CrazyMan: Before lagosians begin to celebrate the completion of a multi purpose modern market, they should inquire how much a shop space goes for....I can place a bet that the cheapest space there would go for over a million naira.

Its one thing to build a market, its another thing to make it affordable to the average man.

average man! Average man! When will the average man becoma rich!? There is no average man until he sees himself as average. The 'average man' should use this opportunity and become rich even if it means borrowing a good debt.

dplordx: Still not an Awoist project
At the end of the day, someone with stolen $$$ can buy the entire mall...
And the poor people whose family are even called "the tejuoso" will be told to go back to Ijebu!
Fashola has done good, but his approach to government is rottenly and extremely capitalist. This isnt a fuken business. This is a goddamn government!!!!
For the rich and the poor!!

You sound like an advocate for the poor but you do not even understand what the trade terms on the project is. The project is PPP and the investors are the determinants of the price that their shops should go for. It is not a State Sponsored Project. Its stated as First Bank credit project by the private sector. Government is simply a regulator. If you are so concerned about the poor, you should go to the market and teach them how to secure loan from the banks to buy the stalls.

a1solution: FIRST HAIL THE GOVERNMENT. THEY TRIED ON THIS

hail who? The ones wey plan to burn dat place twice at night ? And people get goods inside

Billyonaire:

You sound like an advocate for the poor but you do not even understand what the trade terms on the project is. The project is PPP and the investors are the determinants of the price that their shops should go for. It is not a State Sponsored Project. Its stated as First Bank credit project by the private sector. Government is simply a regulator. If you are so concerned about the poor, you should go to the market and teach them how to secure loan from the banks to buy the stalls.

You stole em from me bro. My exact thoughts!

Sophisticated rubbish,why can't Fashola accommodate the poor in his decision making,all he does is favour the rich and leave the poor to rot away. More than 3000 traders were displaced from that site with promise of allocating shops to them on completion of the new shopping mall but that has not been the case as the shops were leased to wealthy Nigerians for millions of naira per unit,who is fooling who.

tosrich: You guys should not waste your time on MORTGAGE.... The shopping complex have been long occupied even before the commencement of the construction of the building. A m talking of as far back as 2009... each unit was Leased at cost above #1million....

I dont think this is correct. i know its a leasehold interest that would be granted through first bank the financier in cooperation with LASG. shops are to be leasased for 25yrs renewable upon expiration of sizes ranging from[b] 6m2, 9m2, to 12m2[/b] etc in lock up shops and open stalls. the lowest for the 25yrs lease is N6million

Emmy9ite: average man! Average man! When will the average man becoma rich!? There is no average man until he sees himself as average. The 'average man' should use this opportunity and become rich even if it means borrowing a good debt.

Even in American there are average people everywhere,its not a Nigeria thing.

blink182: This is really nice. All markets in the country should be like this, unfortunately tomatoes sellers can't pitch tent here.

my thoughts too. wondering how the government intends for people living under minimum wage to pay for it when its finished.

chucky234: Sophisticated rubbish,why can't Fashola accommodate the poor in his decision making,all he does is favour the rich and leave the poor to rot away. More 3000 traders were displaced from that site with promising allocating shops to them on completion of the new shopping mall but that has not been the case as the shops were leased to wealthy Nigerians for millions of naira per unit,who is fooling who.

To be honest with u, these shops/stalls arent for the poor, even though there would be mortgage facilities available. But if one would pay N6m in 25 years, it means u must be making at least N500,000 profit per annum cos u have to pay bank interest at about 18% per annum if not more