Aba Mega Mall project is private sector driven – Obanua

on September 30, 2013 / in Business, Finance 12:10 am / Comments

BY YINKA KOLAWOLE

Abia State government recently entered into partnership with a real estate investment and infrastructure company, Greenfield Assets Ltd, to develop the Aba Mega Mall, comprising of 5,830 ultra modern shops in Aba. In this interview, Group Managing Director, Greenfield Assets, Paul Obanua, gives insight into the significance of the project. Excerpt.

What is the Aba Mega Mall project all about?
The project is geared towards creating a commercial hub for the entire eastern and south-south regions of the country. It is designed to stimulate the urban renewal of Aba city, by providing a structured facility where trading and other commercial activities can be done in an orderly manner. Presently in Aba, every nook and cranny including the roads, drainages and streets, are trading posts. This project is an attempt to sanitise the city by giving the people of Aba a dignified trading centre, which from a survey conducted by us, the traders and dwellers in the city are eager to have it operational.

Are you constructing on virgin land or will already existing properties pave way for the project?

The construction has already begun and it is on a virgin land. The Aba Mega Mall would consist of 5,830 ultramodern shops and they will come in four sizes of 12sq meters, 16sq meters, 24sq meters and 48sq meters. Now the interesting part is that the facility will also have provisions for banks, security post, petrol station, 25,000 sq meters of climate-controlled warehouse space, restaurants and a massive parking space for over 5,000 cars. When completed, the mall facility management will require considerable manpower in excess of 20,000 direct jobs and over 100,000 indirect jobs.

What is the significance of this project to the people of Aba and Abia State in general?

The significance of the Aba Mega Mall project is that we are providing the most needed infrastructure for the South-East, South-South, and the entire country and even beyond our borders. We are talking Cameroon, Gabon, Togo, Ghana and the entire sub region of West Africa. At the moment there is no standard retail infrastructure in Aba. We are building a world-class retail facility, with 10MW 24 hour power supply, paved roads, clean sanitation, guaranteed security in order to create an atmosphere of world-class shopping centre with peace of mind. The availability of the mall would give the people an opportunity to grow their customer base, market share and profit, while regenerating the city, which becomes a win-win situation for the traders and the city.

An insight into the profile of foreign firms partnering Greenfield on the project

Q B Construction is a renowned Construction Company in the United States. They have done projects all over the US. There is JK Structures Limited, a Pan European company; they have the elevated concrete technology. JK Structures has been in existence for almost 30 years and were involved in the building of the Euro Disney.We are also involving local contractors. The competencies of our development partners are not in doubt, and we call them our development partners because they have some level of venture financing.

Does Greenfield have needed resources to ensure the mall does not become one of uncompleted government projects?

First of all, government does not intentionally fail in their projects but the level of bureaucratic bottleneck in the Nigerian system is the reason many projects fail. Secondly, the Aba Mega Mall project is private sector driven.

The Abia state government is encouraging private sector driven development; this is what governments all over the world do by creating an enabling environment, laws and support system to the private sector to assist in developing the economy of a state. Aba Mega Mall can never be one of the abandoned white elephant projects because before the project started we had attained what is called a financial close; this means that the money to build is already in place before we went to site.

Based on your experience, do you think that the PPP route is the way to go in the development of Nigeria?

Yes, it’s the way to go, but the various governments should endeavour to keep to agreements. The government alone does not have the money and all other resources to develop the country. Take a look at our national budget which is barely $30 billion (less than that of New York City Council 2014 budget of $70 billion) will not be enough to reconstruct all our federal highways as there are today. Hence governments across the country should do everything possible to encourage private investors and keep to PPP agreements.

What is Greenfield’s vision for the city of Aba in the next 10 years?
In the next one year we would have completed the mall and have it operational, after which we’ll then go into building the 1,000 hectares Free Trade Zone. On the other the hand, the various power projects in and around the city would have also become fully operational. Aba having the right infrastructure in place, in 10 years’ time will be comparable to places like Shenzhen and Chengdu in China. It will be a commercial/industrial hub for Africa in the next 10 years.

The idea of the project is to eliminate street trading. One of the causes of people trading on the street is the lack of funds to rent a decent shop. Does the Aba Mega Mall intend addressing this by making shops cheaper to rent?
I will tell you that street trading is not as a result of the inability to afford a shop but stems from lack of adequate retail infrastructure.

Trading is a commercial decision geared towards wealth creation. So when you’re talking of such economic decisions, you are looking at a venture where the intention is to make profit. Trading is not a social activity, neither is it born out of communism. Every trader is a capitalist and so the interest of a capitalist is to engage in a sustainable venture that offers growth and profit. In effect, if you have a commercial facility where people can grow their business and make more sustainable profit, they’ll go there. Why would anyone want to remain on the streets if there’s an alternative location where customers consider more accessible, secure, orderly, healthy and conducive to do business; wouldn’t the traders rather have their trading outlets there?

http://www.vanguardngr.com/2013/09/aba-mega-mall-project-private-sector-driven-obanua/

Wow! This mall will be a massive boost to the economy of not just Aba, but Abia State as a whole.

Any wise profit investor in the world should invest in southeast nigeria for quick returns on investment. The very hospitable south east have numerous large markets and cities, affordable high quality brillant hardworking man power, low corruption, very low crime rate, huge volume of money in circulation, easy access to other markets and cities in close proximity, availability of affordable social and economic infrastructures. Already eagle eyed investors around the world are coming to this investment friendly, secure and hospitable Igbo region of south east. Make that wise decision to invest in South East Nigeria Today

Under T.A orji? Mtchew...pipe dream

The Abia state government is encouraging private sector
driven development; this is what governments all over
the world do by creating an enabling environment, laws
and support system to the private sector to assist in
developing the economy of a state.

That line has been over-used by lazy Governors.

This would encourage others to start investing in the East.



.

Good, Rome was't built in a day.

We will get there very soon.



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Over 5000 shops,? The largest mall in the world is in China and it has 2000 shops.

Mall of Dubai has 1000 shops and these jokers are talking about 5000 shops? How do you build and manage 5000 shops?

Its nit even a mall sef, its market with stalls..... smh...

agbameta: Over 5000 shops,? The largest mall in the world is in China and it has 2000 shops.

Mall of Dubai has 1000 shops and these jokers are talking about 5000 shops? How do you build and manage 5000 shops?

Its nit even a mall sef, its market with stalls..... smh...

ok we have heard.
Next.........

https://www.youtube.com/watch?v=Z1maxT9emA8

[size=15pt]Aba Mega Mall Project[/size]

[size=18pt]Abia partners Greenfield Assets on world-class mega mall[/size]

Leading real estate investment and infrastructure company, Greenfield Assets Limited, in consortium with its development partners from Canada, US and UK, was recently granted the development lease agreement right to build the Aba Mega Mall by the Abia State government.

The Aba Mega Mall is a spirited effort by the Abia State government under Governor Theodore Orji to utilise the entrepreneurial spirit of the average Aba resident to its advantage by encouraging development of modern shopping centres as decent alternatives to what obtains at the present.

To be erected on 23 hectares of land, in 12 months, the Aba Mega Mall would consist of 5,830 ultramodern shops which will come in four sizes of 12 sq. metres, 16 sq. metres, 24 sq. metres and 48 sq. metres.

The facility will also have provisions for banks, security post, petrol station, 25,000 sq. metres of climate-controlled warehouse space, restaurants and a massive parking space for over 5,000 cars.

The Abia State governor, Theodore Orji, said that when completed, the mall would be capable of “generating employment opportunities, as the new businesses and the mall facility management will require considerable manpower in excess of 20,000 direct jobs and over 100,000 indirect jobs”.

According to him, “The conception and realisation of the need to build a modern mega shopping mall in the city is a part of my administration’s drive to transform the landscape of Abia through our Urban Regeneration Policy, thereby providing a decent life for the people of the state.”

The governor, while extolling Greenfield as a company that seeks to empower the lives of the people, said, “If you want to see Aba, you have to bend down to discover it. Greenfield came, bent down and discovered Aba, unlike others in the past who have come standing.”

Speaking at the signing ceremony, CEO Greenfield Assets, Paul Obanua, said to develop the mega mall, the company would be working with its development partners, one of which is JK Structures UK Ltd to introduce cutting edge concrete building technology.

“Tried and tested in various parts of the world, the technology, for example, was used in developing the Euro Disney, Paris, the largest amusement park in Europe,” said Obanua.

“This system entails the use of three dimensional galvanised steel meshes reinforced with galvanised wire beam and alleviated concrete. The JK Structures system can deliver top quality mass housing and other civil works in a fraction of the time it takes using conventional building methods,” he further said.

Source; BusinessDay

[img]http://1.bp..com/-ikDR1_L6ElY/UhKXENlkJtI/AAAAAAAAAG0/kVzAVObWdFU/s640/ABA+MEGA+MALL.jpg[/img]

agbameta: Over 5000 shops,? The largest mall in the world is in China and it has 2000 shops.

Mall of Dubai has 1000 shops and these jokers are talking about 5000 shops? How do you build and manage 5000 shops?

Its nit even a mall sef, its market with stalls..... smh...

Anytime SW is launching a project they release the design plan with graphic illustrations and interactive media and artists impression.

Im not going to ask because i know it doesnt exist, but Ibos are a easy ride for political scams. This project is what we cal boju-boju, oloro m'bo.

Agba, ask dude to show you illustration of the proposed mall.

Horus,

Is that the image of the "biggest mall in Africa"?

What is its size in square footage?

Mayor_of_Lagos: Horus,

Is that the image of the "biggest mall in Africa"?

What is its size in square footage?

I dont know the size in square footage. The images posted are from the video but this is only four pictures. To have a real idea of the size you should wach the video; this mall is huge.

Mayor_of_Lagos: Horus,

Is that the image of the "biggest mall in Africa"?

What is its size in square footage?

That's not a mall, it's a regular market with stalls...

When you see them use words like MEGA, MASSIVE, HUGE, WORLD CLASS, just lmao or lol @ their comedy..

According to the article, QB construction in the US is building the mall and they've done a lot of work in the US and other places....

Check my next post on QB construction via scambook.com. A scam documentation website...

Umu awo,wetin concern una? @topic.Aba shall rise again...a wonderful project indeed...cant wait to get one office there.

Horus,

I watched the media. Thats a concept, not a project.

You can create any concept and submit it to govt as a business model. Then you get it into media to push for marketing and subscription. Audience will see what is possible and subscription to the idea will grow. Its a gamble that the popularity will force govt to adopt the idea and therefore secure it for capital financing, more likely through bond offering considering its scale to the local market.

Its a beautiful piece and so far exist as a concept judging from the article. This will be a way forward for SE if they pull it off and a magnet to rally resettlement for the land.

Check out the concept owner.

http://www.paulobanua.com/profile.php

agbameta:


That's not a mall, it's a regular market with stalls...

When you see them use words like MEGA, MASSIVE, HUGE, WORLD CLASS, just lmao or lol @ their comedy..

Mayor_of_Lagos: Horus,

I watched the media. Thats a concept, not a project.

You can create any concept and submit it to govt as a business model. Then you get it into media to push for marketing and subscription. Audience will see what is possible and subscription to the idea will grow. Its a gamble that the popularity will force govt to adopt the idea and therefore secure it for capital financing, more likely through bond offering considering its scale to the local market.

Its a beautiful piece and so far exist as a concept judging from the article. This will be a way forward for SE if they pull it off and a magnet to rally resettlement for the land.

Check out the concept owner.

http://www.paulobanua.com/profile.php

Ol'boy you don blow wind show fowl yansh o! The guy seems to be trying to get into politics or attain some political office. He is Deltan, does not seem to have even attended any rated university in Nigeria but LBS and a few courses in China and US, and he will organize the construction of 5,000 shop market in Abia? What is in Abia, are they richer than his home state of Delta or Orji has told him he will finance it? Question, questions, questions! An established brand could be believable but the pedigree of this man is unknown to me at least! But if anyone wanted to construct a real mega anything at a cost of a few billion (mostly bank money, I guess) which bank will give you money in Nigeria to go and build in Abia while neglecting Lagos, Abuja, PH, Ibadan, Ogun where the money really is? Their GDPs and IGRs are much higher than all the states in SE and above Abia. Does he want to spend 100 years to pay bank the loan?

QB Construction, owned and operated by Early Mckinley of Lakeland, Florida, took $69,000.00 from my family in promise and contract to begin construction on a new residential home for my family. Early Mckinley then took $50,000.00 of the money for his own personal use and I only ended up with some footers that he didn't even pay for. The subcontractor billed me and I ended up paying for that out of my pocket to keep the liens from being filed on my property. When the first subcontractors mobilized on the project, which were the concrete guys, to do the footers and foundation, Early asked for more money. When I replied that I had given him the money for that he replied, that he had taken the first $50,000.00 for himself and he hadn't been on the job 30 days and the footers was the first task, which only costed $10,000.00. So he basically just took my money and didn't perform any construction.

http://www.scambook.com/report/view/256584/Q-B-Construction-Complaint-256584-for-$69,000.00




That's the world famous US contractor building the so called MEGA Mall...



smh....

Way to go SE..keep moving in this direction and you will reinvent your land.

Please, tell the developers to not forget a fire station for the mall. A mall that size will suffer huge loss if there is fire outbreak and no quick response on hand to control spread.

I believe that since Ariaria market has more than 50 to 100 thousand shops, then this one is possible. Its just a matter of moving few lines to the complex.

Just take a look yourself. Scum.

You all take turns saying rubbish about the SE and giving unwarranted advice to Igbos to "develop their regions" (whatever that means since all places outside Lagos and Abuja, maybe PH, are no better). When the opportunity comes you start giving reasons why this should not be allowed in the SE.

Ha! When the highest concentrations of cash in banks have been found to be in Aba and Onitsha, outside the major cities of Lagos, PH and Abuja, the investor has nothing to worry about.

Sloan:


Ol'boy you don blow wind show fowl yansh o! The guy seems to be trying to get into politics or attain some political office. He is Deltan, does not seem to have even attended any rated university in Nigeria but LBS and a few courses in China and US, and he will organize the construction of 5,000 shop market in Abia? What is in Abia, are they richer than his home state of Delta or Orji has told him he will finance it? Question, questions, questions! An established brand could be believable but the pedigree of this man is unknown to me at least! But if anyone wanted to construct a real mega anything at a cost of a few billion (mostly bank money, I guess) which bank will give you money in Nigeria to go and build in Abia while neglecting Lagos, Abuja, PH, Ibadan, Ogun where the money really is? Their GDPs and IGRs are much higher than all the states in SE and above Abia. Does he want to spend 100 years to pay bank the loan?

Abagworo: I believe that since Ariaria market has more than 50 to 100 thousand shops, then this one is possible. Its just a matter of moving few lines to the complex.

Thats true if the parties to the contract are genuine, not scammers.

These guys are building "the biggest mall in Africa"; have they ever built anything in their professional career that is worth referencing? What does their career portfolio look like?

nnenna.1:
Just take a look yourself. Scum.

You all take turns saying rubbish about the SE and giving unwarranted advice to Igbos to "develop their regions" (whatever that means since all places outside Lagos and Abuja, maybe PH, are no better). When the opportunity comes you start giving reasons why this should not be allowed in the SE.

Ha! When the highest concentrations of cash in banks have been found to be in Aba and Onitsha, outside the major cities of Lagos, PH and Abuja, the investor has nothing to worry about.

Nenna, we wish you well but we have a stake in making sure money is invested well so a true development will happen to pull you out of our land. The billions that will go to scammers would end up forcing more migrants out of Abia into Lagos. So our interest, concern and critic is justified.

agbameta: Over 5000 shops,? The largest mall in the world is in China and it has 2000 shops.

Mall of Dubai has 1000 shops and these jokers are talking about 5000 shops? How do you build and manage 5000 shops?

Its nit even a mall sef, its market with stalls..... smh...

when jesus said he will destroy and rebuild the jeruselem temple people like you laughed at him. So nothing is impossible let's just wait and see, God is really coming to rescue we, the Abians. One thing i love about T.A orji is that he has never said anything he will not do, though is works are minimal but most are what he said and he do them to an end.

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B2 mario: when jesus said he will destroy and rebuild the jeruselem temple people like you laughed at him. So nothing is impossible let's just wait and see, God is really coming to rescue we, the Abians. One thing i love about T.A orji is that he has never said anything he will not do, though is works are minimal but most are what he said and he do them to an end.

Emotions, sentiments and holy ghost don't build anything without human competence, honesty and credibility.

The contractor for the largest mall in Africa is scam company with total yearly sales of $800,000. That's less than a million worth of work.

So, who is corning who? You people need to get off your emotional soap box and start using your brains for a change...

geeez:

To understand the level of their mentality better, see what they claim is an ultra modern market

https://www.nairaland.com/1437620/abia-state-new-ultra-modern

My friend stop showing us the height of your illiteracy and tribalism, that market is just a timber market at ahiaeke umuahia. And he built up to 3 new modern markets in umuahia, the new timber market, the spear parts market a.k.a mgbuka and umuahia main market. And for your information shoprite has commence the building of its branch in umuahia.