Saturday, 2 December 2017

Abuja’s newest Shopping Destination, Novare Gateway Opens for Business

Novare Gateway
Shoppers in Nigeria’s capital city, Abuja, will be spoilt for choice with the opening, on Thursday, this week, of Novare Gateway – a modern lifestyle centre, offering an enticing combination of shops, restaurants and entertainment.

The centre incorporates 15,000 square metres of space occupied by 60 stores, and is conveniently situated with parking for over 600 cars.
Located on the main 10-lane highway between Abuja’s Nnamdi Azikiwe International Airport and the central business district, and with modern infrastructure and facilities, Novare Gateway is perfectly situated to meet the needs of the growing Abuja community.

The Mall has Shoprite as the anchor, and the centre’s tenant mix includes international and local brands, covering fashion and fashion accessories, restaurants, electronics, health and beauty, furniture, home improvement, telecommunication, entertainment, cinemas, as well as banks and ATMs.
Some of the tenants that would join Shoprite are: Sholly Optical; Studio 24; Yobella Kids Zone; PEP Stores; Fun World; Genesis Cinema; Buka Restaurant; Payport; Minso; Medplus; Nett Pharmacy; Gumbabay; Nucleus Lunge; BLK; and Genesis QRS.
According to the Chairman of Novare Real Estate Africa, Professor Fabian Ajogwu, SAN, Novare Gateway is Novare Real Estate Africa’s third retail and commercial development in Nigeria, and to date their largest in Abuja.
The centre, he said was developed at a cost of US$68 million and includes a second phase that would in future see another 10,000 square metres added to accommodate 33 more shops.
Commenting on the Novare Gateway Mall opening, Professor Ajogwu, stated that “the mall transcends the over $68 million of foreign direct investments in it and creates over 5,000 jobs through direct and indirect employment from the development stage until completion and commencement of operation.”
Also at the press briefing was Mr. Derrick Roper, Chief Executive of Novare Equity Partners, who said, “We’re very proud to have completed Novare Gateway. This is our largest project so far in Abuja, contributing to infrastructure development, sustainable job creation, trade and consumer demand for a modern shopping experience.”
Other malls in Abuja owned by Novare Equity Partners include the 8,267square metre Novare Apo mall located about 18km from Novare Gateway to the south-east of Abuja. Similarly, in Abuja Novare is developing a 12,508-square metre Novare Central office park, a mixed-use centre, consisting of retail space and A-grade offices.
In Lagos, Novare developed the 22,000 square metre Novare Lekki mall, which commenced trading in August 2016. Novare Lekki was awarded Real Estate Deal of the Year by The Lagos Chamber of Commerce & Industry (LCCI) at its 2016 commerce and industry awards in July this year.
The awards celebrate companies in the business community of Nigeria “who have excelled in their various fields of endeavour, delivering social impact, causing change in the economic landscape and delivering on promise in 2016.”
The group has a 7-year track record of successful real estate development in retail and commercial property in sub-Saharan Africa outside of South Africa.
Jan van Zyl, Managing Director of Novare Real Estate Africa said: “Our thanks to our business partners and associates in Nigeria who helped to make this development a reality.
“Novare has built a team with unrivalled expertise in investment
management, property development and facility management. “Our ability to successfully develop and manage modern retail and commercial facilities is based on a hands-on approach and on-the-ground presence that ensures that we deliver for tenants and investors.”
Novare Fund Manager is a private equity fund manager with a strong track record of managing investments in the real estate sector, both retail and commercial, exclusively in sub-Saharan Africa outside of South Africa. Novare Fund Manager manages the Novare Africa Property Fund I and II, domiciled in Mauritius and funded predominantly by South African pension funds.

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