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ABA Mega Mall, Potential Biggest Mall In Africa by betterABIAstate: 8:01pm On Aug 09, 2015
Nigeria Is Building A $300 Million Smart Mall In Aba City


Paul Obanua, a 43 year-old Nigerian businessman, is on a quest to change the landscape of mall developments in Nigeria and, arguably, in Africa. Obanua’s current project, through his firm Greenfield Assets Nigeria Limited, is turning a 28–acre in Aba, the capital city of Abia State in Nigeria, known as a strategic trading hub in the southern part of the country, into what will be a purpose-built smart mall community with 100,000 square meters of retail space for shopping, a multiplex movie theater, bank, its own transportation system, a dry dock for wholesale distribution and more.

With a projected development cost of $300 million, Aba Mega Mall is expected to be the biggest shopping in Africa.

I recently caught up with Paul Obanua, CEO of Greenfield Asset Management, to get his take on Aba mega mall development, and how it can impact and encourage privately funded infrastructural development in Nigeria and Africa in the years to come.

How did the idea of building the biggest mall in Africa come about?

The mission of Greenfield Assets Limited is to renew sub-Saharan African cities, regenerate our communities and empower lives. In our quest to achieve this, one of the opportunities we identified is in the area of infrastructure development, especially retail infrastructure. This has encouraged us to pioneer the leapfrogging of Africa’s Historical Open Market Retail System to Smart Mall Infrastructure. Our goal is to transform the way in which Africans trade.

Rapid urbanization and Nigeria’s youth demography of about 70% of her population, have amplified the demand for a new shopping experience. Lagos with a population of over 20 million has just four standard Malls compared to 23 malls in Nairobi with a population of 3 million.

Aba has a long history as a major center of commerce and industry in Nigeria and its influence extends to such neighboring countries as Cameroon, Equatorial Guinea, Gabon, Central Africa Republic, Ghana, etc. The major shopping center in Aba is the Ariaria market built in the 1970s with the capacity for 20,000 shops; today it has become a sprawl of 120,000 shops. This and many other commercial centers are all busting at the seams as they have all exceeded their carrying capacity.


The amount of retail space required to meet present demand is in excess of 500,000 square meters and we envisage that Aba Mega Mall will go a long way to fill this gap.


What are the biggest challenges in embarking on such a large project?

The difficulty in raising local financing for capital intensive projects like this is one of the biggest challenges.

How many developers have you partnered with in developing the mall?

Greenfield Assets Limited is the sole developer of Aba Mega Mall though we have some equity and technical partners.

As things stand, how far long is the Aba Mega Mall development at present?

The first phase of 1,000 units of retail space has been completed. It was commissioned on the 26th of May 2015 and commercial activities commenced right after the commissioning.

The first phase has dovetailed into the second phase which includes a luxury mall, 100-room boutique hotel, 6-Screen Cinema, 10-megawatt Independent Power Supply, the first Dry Port in the South-East of Nigeria with a fully automated 30,000 sqm warehouse. By the time we are done, we would have invested over $300 million and achieved about 10,000 units of lettable space for commercial activities.

This is a rather large undertaking from a financial position, is Aba Mega Mall the largest investment Greenfield Assets ever made or is it one of many to come?

You are right; it is one of the many to come. We are going to have the Special Economic Zone, which will be an integrated city of business parks that will consist of manufacturing concerns, like automotive manufacturing, steel fabrication, leather works, petrochemical industries, Agri-business and ICT Park.

It will be a complete city that will be self-sustaining, because it will have an economic life of its own. That is coming with 300 megawatts power supply and excess will be transmitted to the national grid.

What are the immediate economic impact for the region and continent as a whole?

The development of Aba Mega Mall will have a multiplier effect on economic development and growth of the city and region, having positive impact on the economic advancement of the nation and indeed the entire continent.

Aba has the latent potential of competing with the biggest commercial hubs in the world in terms of volume of trade and industry. What it has lacked is the supporting infrastructure. Aba Mega Mall provides the right infrastructure which will act as a stimulant for the realization of this potential.

The development of the mall will help to nurture industries, for instance, the leather industry in Aba has suffered because of the lack of a conducive environment. Aba Mega Mall has provided a world-class trade environment with adequate facilities to help support the leather works industry and others.

Aba Mega Mall will ultimately create employment opportunities in excess of over 10,000 direct and indirect jobs.

What are your expectations on completion of this development?

We expect that we would have pioneered the leapfrogging of Africa’s Historical Open Market Retail System to Smart Mall Infrastructure and to stimulate the urban renewal of Aba city.

We also look forward to replicating this model in all the major commercial cities in Nigeria and other sub-Saharan African countries.



http://www.forbes.com/sites/mfonobongnsehe/2015/07/21/the-nigerian-building-a-300-million-smart-mall-in-aba-city/

27 Likes 5 Shares

Re: ABA Mega Mall, Potential Biggest Mall In Africa by ladyF(f): 8:02pm On Aug 09, 2015
Nice

Ahh annn. Its [size=20pt] LadyF [/size] again hehehe. grin grin
Have a blessed week ahead. kiss

7 Likes 1 Share

Re: ABA Mega Mall, Potential Biggest Mall In Africa by Nobody: 8:07pm On Aug 09, 2015
Oohhh boy!!! Some people from a particular region won't like this news. It would feel like they stabbed them in the throat then shot them in the balls

123 Likes 5 Shares

Re: ABA Mega Mall, Potential Biggest Mall In Africa by BOWOTO(m): 8:13pm On Aug 09, 2015
lol
Re: ABA Mega Mall, Potential Biggest Mall In Africa by egift(m): 8:16pm On Aug 09, 2015
Nice development. More of these.

6 Likes 3 Shares

Re: ABA Mega Mall, Potential Biggest Mall In Africa by Beremx(f): 8:20pm On Aug 09, 2015
Am happy to hear good news like this from the Eyimba city.

Next is Abakaliki. I dunno what's happening in that state capital.

10 Likes 1 Share

Re: ABA Mega Mall, Potential Biggest Mall In Africa by Dreambeat: 8:21pm On Aug 09, 2015
Wow!So glad to hear this.Huge industrial estate next.Kudos to the initiators of this laudable project.

3 Likes 1 Share

Re: ABA Mega Mall, Potential Biggest Mall In Africa by Nobody: 8:21pm On Aug 09, 2015
How nice! Thanks to GOD "Nigeria" is progressing #teamonenigeriaWITHOUTBOKOHARAMISTS. Meanwhile, abeg wetin this baba dey do sef? I no just understand this regime walahi. Na so so low current dem dey give people, fuel scarcity still dey, no ministers, every where just SHURU(quiet). Chaiii!!!!! I am beginning to SO MUCH miss goodluck ebele jonathan i tell you. This regime is "SO BORING" i tell you. Mtcheeeeeew

7 Likes 2 Shares

Re: ABA Mega Mall, Potential Biggest Mall In Africa by Destined2win: 8:22pm On Aug 09, 2015
egift:
Nice development. More of these.

Your fraudulent act is haunting you on here grin

8 Likes

Re: ABA Mega Mall, Potential Biggest Mall In Africa by GenBloodykiIler: 8:22pm On Aug 09, 2015
Beremx:
Am happy to hear good news like this from the Eyimba city.


Next is Abakaliki. I dunno what's happening in that state capital.

yes biafra will always be better cheesy

42 Likes 1 Share

Re: ABA Mega Mall, Potential Biggest Mall In Africa by Destined2win: 8:23pm On Aug 09, 2015
GenBloodykiIler:


yes nice development more to come only if we can stop fraud and cheating on those that pays tax and vat grin

Abeg forgive his fraud

2 Likes

Re: ABA Mega Mall, Potential Biggest Mall In Africa by GenBloodykiIler: 8:28pm On Aug 09, 2015
Destined2win:


Abeg forgive his fraud

He's my son egift is my boy he's already forgiven cheesy

2 Likes

Re: ABA Mega Mall, Potential Biggest Mall In Africa by egift(m): 8:28pm On Aug 09, 2015
Nigeria is shining on, that is good. If Aba's commercial capacity is fully developed, it will be very good. I also recommend an industrial Leather Processing Plant, Plastic and Bottle recycling Plants. It will help medium-scale entrepreneurs to process materials for their various products and wears.

10 Likes 2 Shares

Re: ABA Mega Mall, Potential Biggest Mall In Africa by Nobody: 8:32pm On Aug 09, 2015
Mehn, Nnamdi Kanu made governors in the south east sit up. Now governors know the call of Biafra is loud and they have to brace up ....just in case

30 Likes 2 Shares

Re: ABA Mega Mall, Potential Biggest Mall In Africa by Udmaster(m): 8:37pm On Aug 09, 2015
Nice one.. The ewedu eating children of hate will soon try to derail this page.

10 Likes

Re: ABA Mega Mall, Potential Biggest Mall In Africa by DrOkoroafor(m): 8:39pm On Aug 09, 2015
Good news. But after building the mall, I hope they will put in time to employ able and professional workers to keep it evergreen and well-kept. Nigerians lack the sense of maintenance. . . very bad! Maintenance is one important key in developing a state.

21 Likes 1 Share

Re: ABA Mega Mall, Potential Biggest Mall In Africa by kettykin: 8:53pm On Aug 09, 2015
With the success of the Aba mega mall, development of other infrastructure will bring Aba at par with other fast developing commercial cities in Africa and elsewhere. The resilience and determination of igbos is all that is needed

15 Likes 1 Share

Re: ABA Mega Mall, Potential Biggest Mall In Africa by TimothyNkenu: 9:32pm On Aug 09, 2015
I just pray Nigerians begin to patronize Nigerian products.

We've been whitewashed to believe that everything from America is the best.

*drops mic*

13 Likes 1 Share

Re: ABA Mega Mall, Potential Biggest Mall In Africa by kennyman2000(m): 9:32pm On Aug 09, 2015
Good one..

1 Like

Re: ABA Mega Mall, Potential Biggest Mall In Africa by deebsman1(m): 9:32pm On Aug 09, 2015
Good, whether biggest or smallest, sha give them one and something nice, african's always backward with biggest, largest, whatever est tag

1 Like

Re: ABA Mega Mall, Potential Biggest Mall In Africa by Pavore9: 9:33pm On Aug 09, 2015
Nice development.

1 Like

Re: ABA Mega Mall, Potential Biggest Mall In Africa by MadCow1: 9:33pm On Aug 09, 2015
Mega Mall kwa..



Odikw risky

1 Like

Re: ABA Mega Mall, Potential Biggest Mall In Africa by VIPERVENOM(m): 9:33pm On Aug 09, 2015
dake40:
Nice one
Have fun
Somewhere in Lagos, a guy stumbles up to the
only other dude in a bar and asks if he could buy
him a drink. "Why, of course," comes the reply.
The first guy then asks,
"Where are you from?"
"I'm from Ebonyi," replies the second guy.
The first guy responds: "wow, I'm from Ebonyi
too! Such a small world.
" Yeah" muttered the second.
Curious, the first asks: "Where in Ebonyi are you
from?" "Afikpo South," comes the reply.
"I can't believe it, Me too! Wow wow wow! So we
are from the same village sef, please don't tell
me you left Afikpo for Lagos 15 years ago or I'd
just faint"
"Of course I did, I came to Lagos with my family
exactly 15 years ago. " The second guy can't help
himself so he asks,
"What school did you go too?"
"Comprehensive Grammar School Abakaliki ",
replies the first guy. "I graduated in 1998"
"wow! " screamed the second guy, I also
graduated from same school and was in the
same set as yours.
"What is your surname and what is your date of
birth " asked again the second dude in real
shock now.
" My surname is Ezeagu and I was born 28th
February 1980"
"This is becoming unbelievable!!!" You must be
my long lost brother!! , They shouted in union as
they hugged tightly and tears of joy streams
down their face.
About that time, in comes one of the regulars
and sits down at the bar.
"What's up with those two dudes crying?" he
asks the bartender.
"Nothing much," replied the bartender. "it is
the Ezeagu twins and they are drunk again!"
Lolz...cc friedplantain

[img]http://reactiongifs.me/wp-content/uploads/2014/04/vladimir-putin-laughing.gif[/img]

35 Likes

Re: ABA Mega Mall, Potential Biggest Mall In Africa by Nobody: 9:34pm On Aug 09, 2015
This means 'employment' for young Nigerians. Great move.

2 Likes

Re: ABA Mega Mall, Potential Biggest Mall In Africa by SirShymexx: 9:35pm On Aug 09, 2015
These folks and always claiming phantom titles. grin

How about shut up and build the darn thing before claiming the biggest in Ionosphere? undecided

16 Likes

Re: ABA Mega Mall, Potential Biggest Mall In Africa by RichDad1(m): 9:35pm On Aug 09, 2015
Good one
Re: ABA Mega Mall, Potential Biggest Mall In Africa by EazyBen(m): 9:35pm On Aug 09, 2015
i will like to read that book..**Do one things everyday that scare you**

6 Likes

Re: ABA Mega Mall, Potential Biggest Mall In Africa by Unsad(m): 9:35pm On Aug 09, 2015
Nigga already living my dream, I'll top what yur doing when I'm done with school , Osun sef go turn Lagos

2 Likes

Re: ABA Mega Mall, Potential Biggest Mall In Africa by dake40(m): 9:36pm On Aug 09, 2015
Nice one



Have fun


Somewhere in Lagos, a guy stumbles up to the
only other dude in a bar and asks if he could buy
him a drink. "Why, of course," comes the reply.
The first guy then asks,
"Where are you from?"
"I'm from Ebonyi," replies the second guy.
The first guy responds: "wow, I'm from Ebonyi
too! Such a small world.
" Yeah" muttered the second.
Curious, the first asks: "Where in Ebonyi are you
from?" "Afikpo South," comes the reply.
"I can't believe it, Me too! Wow wow wow! So we
are from the same village sef, please don't tell
me you left Afikpo for Lagos 15 years ago or I'd
just faint"
"Of course I did, I came to Lagos with my family
exactly 15 years ago. " The second guy can't help
himself so he asks,
"What school did you go too?"
"Comprehensive Grammar School Abakaliki ",
replies the first guy. "I graduated in 1998"
"wow! " screamed the second guy, I also
graduated from same school and was in the
same set as yours.
"What is your surname and what is your date of
birth " asked again the second dude in real
shock now.
" My surname is Ezeagu and I was born 28th
February 1980"
"This is becoming unbelievable!!!" You must be
my long lost brother!! , They shouted in union as
they hugged tightly and tears of joy streams
down their face.
About that time, in comes one of the regulars
and sits down at the bar.
"What's up with those two dudes crying?" he
asks the bartender.
"Nothing much," replied the bartender. "it is
the Ezeagu twins and they are drunk again!"



Lolz...cc friedplantain

10 Likes 1 Share

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