- Novare Real Estate Nigeria Limited, a retail property investor, is selling its properties in Lagos and Abuja
- The properties for sale include three retail malls (Lekki Mall, Apo Mall Abuja, and Gateway Mall Abuja) and one mixed-use commercial property
- No explanation has been provided while the company is looking at selling some of its prime properties
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One of the leading institutional investors and developers in Nigeria, Novare Real Estate Nigeria Limited (NREN), has announced plans to sell some of its eye-catching properties.
The properties, which include Lekki Mall, Apo Mall Abuja, Novare Central Mall, and Gateway Mall, are located in Lagos and Abuja.
Novera time in Nigeria
Novare has a decade of experience in property development, and management across Nigeria and other countries in Sub-Saharan Africa.
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Though no official reason has been given by the developer for this move, Estate Intel, reports that the sale signifies Novare’s exit from Nigeria as they are the only real estate investments the company has in the country.
Insights on the four malls up for sale
Lekki Mall, which was completed in 2016 located along the Lekki-Ajah Expressway is the largest retail mall in Lagos.
When the firm first completed the mall, it was named Novare Mall before it was renamed to Lekki Mall.
Among the brands accommodated within the mall are ShopRite, Genesis Deluxe, JED Lifestyle, Miniso, and others.
Also, Apo Mall is located at Dutse area of the FCT and a home to renowned brands such as Megastores, PEP, BAFFI Furniture, Krispy Kreme, and Shoprite.
While Gateway Mall was completed in 2017 and is situated along the airport road in Abuja,.
The mall is host to several firms such as BAFFI Furniture, Funworld, Genesis Deluxe Cinema, EHA Clinics, and more. BusinessDay reports.
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