Broll secures major shopping centre tender

Posted On Monday, 12 September 2005 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

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.

 

Property-Housing-Residential

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

Most Popular

Balwin Properties announces R9 billion Munyaka Crystal Lagoon development in Waterfall, Midrand

Feb 06, 2020
Munyaka Crystal Lagoon
JSE listed Balwin Properties, a developer that cares about environmentally responsible…

2020 Commercial Property Themes –Electricity supply and cost will be a key wildcard for the Commercial Property Sector this year

Jan 23, 2020
John LoosFNB
Will electricity supply reliability and cost increases become a key issue again in 2020?

Nedbank’s facilitation of the Barloworld-Khula Sizwe transaction highlights the bank’s commitment to transformation in the commercial property sector

Jan 24, 2020
Nedbank Barloworld Khula Sizwe
Nedbank’s facilitation of the Barloworld-Khula Sizwe transaction highlights the bank’s…

All the insurance you need as a homeowner

Jan 23, 2020
Carl Coetzee CEO of BetterBond
As a new home-owner, you are going to need three types of insurance – at least one of…

The Harri launches in Cape Town's thriving East City Precinct

Jan 23, 2020
The Harri Cape Town
The Harri offers 39 stunning studio and two-storey penthouse apartments, blended with…

Please publish modules in offcanvas position.