₦airaland Forum

Alariiwo:
You call this development?

You went to snap one major road to deceive your likes.. What of the erosion gullies and death traps all over Anambra?
Go and reclaim those places from erosion if you want anyone to take you serious.

wizzyvibes:
Sorry. The 1.7 million per sqm. Are you certain its for rent or for sale, because that price is just ridiculous

abuzz33:
I saw that online and lo and behold it has been removed.

From ANSIPPA link I understand they have 86 shops ranging from 19sqm to 168 sqm and have so far rented out to Market Square, Kilimanjaro, Pizza Jungle, Medplus, Miniso, Pointek, Nett Pharmacy and Living Plus.

https://ansippang.substack.com/p/awkas-new-heartbeat-ikenga-mall-and

It has provision for 4 cinemas with 661 sqm sitting 400 people.

Considering that the developer Sundry Foodd spent 4.5 billion on the project (which was half built by the Obi administration) with returns spread over 25 years, it means they got it for a song. 180m in debt per year for roughly 7,000 sqm of lettable space works to 26,000 per sqm per annum and less considering Sundry Foods owns Market Square and Kilimanjaro which take up around 25% of total feasible area.

I expect that like Onitsha Mall they will adjust their rental rates away from typical mall rents which in Lagos is dollar linked at $800 - 1,000 per sqm per annum or N1-1.5m to realities that Awka is a much smaller economy and price at 150,000 - 200,000 per sqm per annum depending on the size of the store. A large branded retailer with a 100 sqm shop can bear N15m a year while a small pharmacy would be willing to pay N5m for a 25 sqm space. That's the only way they fill up the 80 shops remaining and draw in crowds of shoppers.

abuzz33:
I saw that online and lo and behold it has been removed.
From ANSIPPA link I understand they have 86 shops ranging from 19sqm to 168 sqm and have so far rented out to Market Square, Kilimanjaro, Pizza Jungle, Medplus, Miniso, Pointek, Nett Pharmacy and Living Plus.
https://ansippang.substack.com/p/awkas-new-heartbeat-ikenga-mall-and
It has provision for 4 cinemas with 661 sqm sitting 400 people.
Considering that the developer Sundry Foodd spent 4.5 billion on the project (which was half built by the Obi administration) with returns spread over 25 years, it means they got it for a song. 180m in debt per year for roughly 7,000 sqm of lettable space works to 26,000 per sqm per annum and less considering Sundry Foods owns Market Square and Kilimanjaro which take up around 25% of total feasible area.

I expect that like Onitsha Mall they will adjust their rental rates away from typical mall rents which in Lagos is dollar linked at $800 - 1,000 per sqm per annum or N1-1.5m to realities that Awka is a much smaller economy and price at 150,000 - 200,000 per sqm per annum depending on the size of the store. A large branded retailer with a 100 sqm shop can bear N15m a year while a small pharmacy would be willing to pay N5m for a 25 sqm space. That's the only way they fill up the 80 shops remaining and draw in crowds of shoppers.

ANSMEDIA:
Anambra country club at the Solution Fun City Awka

ANSMEDIA:
Ngozika estate road Awka

objpmb:
The reduction of interest or traffic on this thread is because of certain people with many monikers making mockery and insulting every reasonable lovers of Alaigbo in general.

ANSMEDIA:
Ngozika estate road Awka

abuzz33:
Lets be honest. Its not the South-Easts largest mall.


Polo Park (Enugu) - 22,530 sqm
Enugu Mall (Spar) - 22,350 sqm
Onitsha Mall - 12,100 sqm
Umuahia Mall - 11,000 sqm
Owerri Mall - 8,776 sqm
Ikenga Mall - 7,000sqm

kettykin:
The whole South East is migrating to first world cities, I predict that of we avoid any unnecessary, needless, useless civil war , South East will be a first world region in 5 to 10 years time.

kettykin:
The whole South East is migrating to first world cities, I predict that of we avoid any unnecessary, needless, useless civil war , South East will be a first world region in 5 to 10 years time.

abuzz33:
First world is not by talk. South East has to make the necessary investments in infrastructure and its not just roads but sewage, water, drainage, pavements, public bus systems. European cities have all these things and they are over 500 years old. Most SE cities are less than 60 years old but suffer from poor infrastructure and plain bad planning marked by chaotic buses and tricycles, dirty open gutters, non existent water supply and sewage, haphazard markets.

Ttipsy:
my thoughts exactly
Enugu, port harcourt, Onitsha, Owerri would have been on a different level both local and international but the war did them dirty

kettykin:
The whole South East is migrating to first world cities, I predict that of we avoid any unnecessary, needless, useless civil war , South East will be a first world region in 5 to 10 years time.

ANSMEDIA:
Beautiful city of Awka

wizzyvibes:
I fit beat person if I see this road one more time. The love for mediocrity dey always off me. Mstchewww

wizzyvibes:
I fit beat person if I see this road one more time. The love for mediocrity dey always off me. Mstchewww

ANSMEDIA:
Beautiful city of Awka