Novare puts Lekki mall and three additional properties up for sale

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Novare puts Lekki mall and three additional properties up for sale
Novare puts Lekki mall and three additional properties up for sale

Novare Real Estate Nigeria Limited (NREN), a prominent institutional investor and developer, has recently put up four Grade A retail properties for sale in Lagos and Abuja.

These properties, as reported by Estate-Intel, encompass three retail malls and one mixed-use commercial property featuring office and retail spaces.

  1. Lekki Mall: Completed in 2016, this mall occupies a 21,000 m2 space along the Lekki-Ajah expressway and houses renowned brands like ShopRite, Genesis Deluxe, JED Lifestyle, and Miniso.
  2. Apo Mall Abuja: Situated in the Dutse area of the Federal Capital Territory (FCT), this mall spans 8,000 m2 and boasts a remarkable 97% occupancy rate as of June 2023. It hosts notable brands such as Megastores, PEP, BAFFI Furniture, Krispy Kreme, and Shoprite.
  3. Gateway Mall Abuja: Completed in 2017, this mall is located along the airport road in Abuja and occupies a 14,000 m2 area. It features renowned firms like BAFFI Furniture, Funworld, Genesis Deluxe Cinema, and EHA Clinics.
  4. Novare Central Mall: Situated in the Wuse Zone 5 area, this mall occupies an 11,000 m2 area and accommodates brands like shoprite, The Vue, Esteem Furniture, and Active Leisure.

The sale of these properties signifies Novare’s exit from Nigeria, as they are the company’s sole real estate investments in the country.

Novare Real Estate Nigeria Limited (NREN) is a commercial property development and management firm with over a decade of experience in property development and management across Nigeria and other Sub-Saharan African countries like Zambia and Mozambique.