Ikeja City Mall, Nigeria

Completed development projects

Location: Lagos, Nigeria
Sector: Retail
Size (GLA): 22 645m2
Catchment population: 4 Million
Anchor tenant: Shoprite, Silverbird Cinemas

Until 2016, the Ikeja City Mall (IMC) was the largest shopping centre in Lagos, Nigeria. The Ikeja City Mall is a sleek, ultra-modern centre situated in the heart of the city. Boasting 22 645m2 of retail and entertainment space on 5.14 hectares of land, the Ikeja City Mall is the place to be with more than 800 000 visitors per month.

Nigeria’s haven of shopping

The Ikeja City Mall is anchored by two main tenants: Shoprite, which occupies 4 400m2 of the property, and Silverbird Cinemas, which is the most comprehensive entertainment facility currently available in Lagos. Popular restaurants, bars and cafés add to the entertainment value of the centre, and there is also a kid’s entertainment arena for the younger shoppers. Hairdressing and beauty salons take care of luxury grooming requirements and 30 line stores give shoppers plenty to do with time spent at Ikeja City Mall. Approximately 4 million people reside in the catchment area with an estimated buying power of US$2.5-billion.

Hyprop Investments: Actis, RMB Westport and Paragon sell Nigeria's Ikeja City Mall to Hyprop and Attacq

Actis (a leading emerging markets investor), RMB Westport (a notable sub-Saharan Africa real estate investment management and development group) and Paragon Holdings (a leading Nigerian investor group) confirmed the sale of Ikeja City Mall to the South African Real Estate Investment Trust (REIT), Hyprop Investments Limited (Hyprop) and Attacq Limited (Attacq), a JSE-listed real estate capital growth fund.

Are you interested in letting property in Nigeria? Get in touch