₦airaland Forum

IGBOSON1: Eastern retail business upbeat as Capital Alliance, Anambra unveil Onitsha Mall

Retail business in the eastern part of Nigeria is in upward momentum as African Capital Alliance (ACA), a leading private equity investment firm in Nigeria, in collaboration with Anambra State Government are perfecting arrangements to open a retail mall in Onitsha by the second quarter of 2015.

Known as Onitsha Mall, the retail outlet which would be anchored by Shoprite, a well known South African retail brand that currently dominates retail business in Nigeria, will contain about 51 stores of various sizes. Construction work on the mall has reached 64 percent completion and would be 100 percent completed before the proposed opening date of 2015.

Research has shown that Onitsha is the fifth fastest growing city in the world with the biggest market in West Africa known as ‘Onitsha Main Market’. It is the economic nerve centre and the gateway to the eastern part of Nigeria. It is known to be a major commercial city in the South-East Nigeria, and according to the promoters of the mall, these were part of the reasons they chose to situate the multi-million naira project in Onitsha.

Also, Onitsha Mall will offer a serene shopping experience to retailers and customers with features such as 12,100 square meters of net lettable space; 24 hours electricity and security; over 500 parking bays; six local and international restaurants; central air conditioning; ATM gallery and an average of five stores reserved for banks.

According to the developer, the lucrative business environment, which provides huge investment opportunities for investors, is another major reason for building Onitsha Mall that would be the first of its kind in the city.

Obi Nwogugu, representative of African Capital Alliance, told those who attended the 0nitsha Mall Retailers Forum held in Lagos recently that the vision of Anambra State government and ACA for the Onitsha Mall was to build an infrastructure that would attract private capital into the state.

Nwogugu, who noted that Anambra State was ranked second in telecommunications disposable income and highest in commercial and microfinance banks branches in the Eastern Nigeria, also said that the city recently attracted investment worth $120 million from South African Breweries, which is currently planning to double its investment due to the success of the business.

“Onitsha Mall is a development project sponsored by African Capital Alliance and the Anambra State Government while Diamond Bank is the debt financier of the project. In terms of safety of lives and property, the state has recently received a significant investment in security equipment and personnel in the city, which created an enabling environment for business to thrive,” Nwogugu added.

Explaining the basis for the construction work, Chuka Okoye, project manager, Pro-M Limited, who stated that the construction work currently being handled by Akiota Works Limited, which took over from the former contractor, Technics Construction Company, assured that the project would be completed before the opening date of May 2015.

He slated February 1, 2015 as the proposed date for all the tenants to start occupying their spaces as the beneficial occupation shall be granted to tenants to commence their shop fit-outs, which is expected to take 30 to 60 days before the opening date.

“The mall, which would be managed by Broll Nigeria Limited on completion, is located at the old Anambra Broadcasting building at Park Street, off Awka Road in Onitsha. The road leading to Park Street has been dualised and resurfaced with traffic lights by the state government to accommodate the volume of human and vehicular traffic on the road at the take-off of the mall,” Okoye explained.

Chuka Uroko

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=newssearch&cd=2&cad=rja&uact=8&ved=0CCUQqQIoADAB&url=http%3A%2F%2Fbusinessdayonline.com%2F2014%2F09%2Feastern-retail-business-upbeat-as-capital-alliance-anambra-unveil-onitsha-mall%2F&ei=gQYrVJLVIsyu7Abu7IDYCQ&usg=AFQjCNH3U11y_eHdW-IiG7KykRPrIWr8KQ

is this recent?

hushmail: u mayb right bt if we truly Abia to progress then Ihejirika shld be invited to do d needful

you cant force one to become what he is not interested in...the other person i am interested in is alex otti but my fear is he might not be well known at the grassroots...NB i dont think there is anything wrong with this ogah guy...you can read his profile and i do not think he has held political office before...he is actually more on the ground than ihejirika.

iwonbaoko: I am annoyed at the LIES because these same people go abroad and continue to lie giving us all a bad name. All the Negative publicity we suffer is probably down to these folk

londoner there you go...i told you so lol

hushmail: who is uche ogah?

What is his pedigree?

Truly abia is a mess bt caused by abians

i recall in 2011 aba boys refuse to vote just cos there was no candidate they could identify wt

now Ihejirika is d most promising to lead Abia to d promised land

all dis knocks he is receiving r from enemies of Abia progress

support Ihejirika 4 better Abia

i dont think ihejirika is interested in being a governor.

londoner: Why are you so annoyed, by the prospect?

If there are subsistance farmers in Igboland, then the soil can produce food, right?

Unless of course you are saying that there are no subsistance farming in the SE?

Even if they have to improve soil quality they can. Jos suffers from soil erosion, yet they have fertile land and produce very good produce.

Let SE try and be at least self sufficent.

I just don't get why you sound so annoyed and even angry about it. Dubai was also built in the desert as well as Eko Atlantic City, which is being built on reclaimed land from the sea. I'm sure the plans were criticised at some point also.

This is 2014, where soil erosion can be dealt with.

i am suprised you actually want to argue with him as if he actually cares.

abagoro: http://www.businesswire.com/news/home/20140925005275/en/Shares-ENTRADE-Energiesysteme-AG-oversubscribed

wow thats good.

abagoro: Not just Aba but the entire Nigeria. The beauty of it is that State Government will not pay the investors but they make profits from managing waste and converting same to energy. If the 1st phase in Owerri succeeds, Entrade will experience a revolutionary boom across Nigeria. Their shares in Germany is sold out.

how do you know about their shares?

abagoro: And Imo State setting the pace as Entrade (German waste to energy firm) moves to Imo

ENTRADE Energiesysteme AG has received a major order for the establishment of a state-wide energy and waste management system from Imo State, a statement said on Monday.

Under the agreement, which has been concluded with  Governor Rochas Okorocha, ENTRADE will initially set up 200 energy and recycling stations in the state capital, Owerri. This part of the planned project is to be completed by the end of 2015, followed by the optional construction of up to 2,300 further regional supply centres throughout the entire state. ENTRADE will operate these centres itself, both processing waste and then selling the electricity which is generated.

The aim is to build up a comprehensive power-supply network, based on the micro biomass generators developed by ENTRADE with an individual electrical output of 20 kW. These are to be fuelled mainly with bamboo pellets.

“This fast-growing raw material could for the most part solve our current power-supply problems”, Prof. Okee Okoro from the state’s Ministry of Energy and the Environment said.

“This pioneering project is therefore highly significant not only for our federal state but for the entire country of Nigeria.”

http://businessdayonline.com/2014/08/imo-state-agrees-energy-waste-contract-with-germany-firm/

abia state(aba and environs) need this type of investment.

story...political talk

nice.

i just do not know who will salvage abia from this mess....i guess abia residents must have to decide whether to live like human beings or animals by february next year.

haha.....my guy ochendo global deserves to be shot...pure and simple

standupguy: Aba started off very very well but like you said poor infrastructure, power and anti people policy's has kept the city from growing.
My father used to be a major distributor of philips electronics assembled in Aba in the 70s.
I have an uncle too who had more than 5 factories in Aba in the 70s up till the mid 90s, factories making (crown cock for nbl, nails for carpenters,processing of plastics raw materials, make shoe sole, and assembling electronics). All factories are dead today but only one.

Like you said hospitality is an industry of its own but i am talking about that man in ariaria making shoes refining his products to world class expanding to an industrial scale.

t a orji no dey see u

100Cents: Yes on a silly state.

Have they ever made news like you hear Anambra, Abia, Imo and Enugu every time ?

Are they allergic to good news and development ?

so according to you being in the news whether good or bad means nothing is happening there abi?have you being there?mehn enough of this egoistical and ignorant comments

100Cents: Is that a state ?

Wonder who their governor is.

what a stupid comment

Meringe: Imagine people like T. A . Orji receiving National Award. I hate Gej for this.

that is one of the worst things one has to witness or watch.

Dibiachukwu: My problem, Igbo unemployment issue is very complex given that there are small businesses here and there; everywhere in Igboland. Solving this problem needs a proper economic technician. Igbos have the capital floating around and wasting. What we need is a trustworthy, respect commanding leadership. We lack leadership. All igbo leaders are sellouts. When want to talk economy in Igboland. I will go the way of strong banks. State owned. Bond and shares selling. Encouraging igbos to bank with these banks. Responsible mortgage and lending scheme. None of them have thought of this. They are busy riding bicycle accross our dirt filled streets and gutters.

state owned banks?

BlackTechnology: The rate at which we build industries is slow especially when we compare it with Mbakwe's era.

mbakwe's era industries were being built by govts and they collapased later due to obvious reasons.

ebankole and shagariabacha if two of you cannot read then keep quiet.

OkijaAmaka: YEA, if we will get the accurate census of Igbo cities and towns, we will first of all discard anything from hatefilled and tribalistic Nigeraia Government.

i think by landmass Enugwu is the biggest followed by Aba.

Onitsha is populated but the layouts and environs are very close to one another, then Asaba, Nnewi and Ekwulobia are there taking away its population, Onitsha has many towns to contend with but its populated.

I have not been to owerre wela shaa

not sure how nnewi and ekwulobia are taking population out of onitsha as the two towns have thriving economies of their own independent of onitsha.

thwarrior72: Ndi Enugu destroyed this thread, let them no worry..ubosi nta anyi achuo na owere nchi. Nwata si na nne ya agaghi arahu ula, agaghi arahu nke ya

abeg forget this sentimental thought....chino destroyed the thread simple

OkijaAmaka: People are missing daily in MM now, miscreants are also having their field day as well.

The market need to be mordernize walahi, thank God they are now moving to some of their permanent sites.

Abada people will be staying under bridge, Iweka have move to Ogbaru and Obosi, some markets are in Ogbunike, Oba and Ogidi...Anambra is progressing to God, the state with 3rd highest concentration of commercial banks in Nigeria show how economically vibrant the state is, she is listed among those that controll 85% monetary movement in Nigeria too.

UBA have 6branches in PH Rd Fegge Onitsha, they have 8 in New MKt Rd alone, imagine those in Nnewi, Ekwulobia, Ihiala, Awka them

Anambra is economically xploding , i wish i have the buck to invest in Tourism and real estate sector, thses two are my target because the increase in middleclass in Anambra State is the fastest in Sub Sahara African.
Boko Haram insurgent in North is causing the property market in Anambra to skyrocket, my mom told me how they rented my fomer room out to a Northern returne family, i cant believ how much buck they made out it, she told me people are everywhere looking for rooms to rent esp those from North.

miscreants having a field day in onitsha market?i thought they said obiano has taken care of them?what about the said cctv cameras in the market?is it for fancy?

spyder880: Owerri Great buildings, I think this is a private development.

looks like another hotel in owerri is about to be opened...just wish there can be a law banning erecting of hotels within owerri capital territory

whitecat1: As brutal as the comments sound, I say right on the money! Nigeria is not a country and my consolation is I'm Yoruba in Nigeria. May this forced marriage be broken!

broken by who?keep waiting forever.

HYBREED: for a player of his age , that amount is a very good one. The serie A don't earn much. Imagine the highest paid player in the league roma's danielle de rossi earning 100k per week while obi mikel earns 35k more. And italian players are not as taxed like their english counterpart. So the money to many of them is a good earn.

that age na football age na

how low italian league has fallen....for a club in the calibre of lazio to be paying such for a player they play regularly like onazi....people that are saying the amt is big do not seem to realize that as at late 80s to late 90 no league could compete with serie a in wages...that period the best players in the world headed to italian clubs especially milan,inter,juve,roma,florientina,lazio,parma....italian league has really dipped.

VAQAXY: They are using CCECC for the reconstruction and expansion of Upper-Iweka to Zik's junction. Anambra uses other contractors apart from IDC. I have seen IDC completed projects like the bridge I posted up there, they are equally very good!

that pic looks like TAMAD works.

VAQAXY: Anambra uses the following contractors: CCECC, CCC, RCC, IDC, INTERBAU etc..

which road did they use CCECC?i hope you know there construction is like julius berger's works..........wonder how idc would be building those flyovers in awka.

Sagamite: You are a cretinous, mentally-ill person!
So computer graphics is your idea of tell us the shithole called Nigeria has "built" world-class hospital?
You are an absolute cretin!

lol

iwonbaoko: That is an opinion but the facts are there Imo has a greater GDP

sophistory

iwobaoko there is far more economic activities in abia and anambra than imo oil or no oil.