Broll secures major shopping centre tender

Posted On Monday, 12 September 2005 02:00 Published by eProp Commercial Property News
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Broll Nigeria has secured a five-year tender to provide property management services for the first-ever regional shopping centre in Lagos, Nigeria, The Palms Shopping Centre.

 

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Broll Property Group (South Africa) CEO, Arnold Meyer, says Broll commenced operation in Nigeria in October 2004, in line with its strategy to enter the West African market. “In addition to winning the tender for The Palms Centre, the opening of Broll offices in Lagos has resulted in our being awarded Tinapa Trade-free City and other projects,” he says.

The Palms Shopping Centre, which is co-owned by majority partner, Actis Private Equity, a leading private equity investor in emerging markets, is scheduled to open at the end of the year. It is being built on Victoria Island in the Lekki Peninsula district.

Meyer says Game, Shoprite and Nu Metro are the anchor tenants at The Palms. “Together, Game and Shoprite will fill more than 50% of the space at the centre, which boasts a gross lettable area (GLA) of 20 000m²,” he says.

Meyer says winning the tender is a positive step for Broll as it continually looks to expand its footprint and the services it offers in other African markets.

Mike Williams of Actis says the company is pleased with its achievement, as The Palms is the first property development project of this nature completed in a difficult environment. “The Actis team and all involved have done exceptionally well to bring this project to fruition. It has been a challenging process, but with the lessons learned and experience gained, we believe we have established a good platform and positioned the Actis property business well for future development and investment plans in West Africa,” he says.

Last modified on Wednesday, 16 April 2014 13:03

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