The private sector is not relenting in contributing to the mega city status of Lagos State. Across the real estate sector, especially in the retail mall sub sector, it is a common sight to behold mega, ultra-modern plazas.
In furtherance of this trend, a real estate firm, Messrs Masters Reality International Concepts Limited, has unveiled plans that will change the face of shopping malls in Ikeja.
The firm hopes to replicate the American ‘Silicon Valley’ concept in Lagos with the construction of an Information Technology (IT) Mart within the central business district of Ikeja.
The Mall, to be known as “Ikeja IT House”, is slated for completion within 18 months after securing approval from the Lagos State government.
The IT mart is planned as a three-storey building, to be built on three acres of land situate at Simbiat Abiola Way, Ikeja, Lagos.
It will also come with 1, 800 shops; a multi-storey car park for 280 vehicles, banking hall, and an IT laboratory, among other facilities.
The IT laboratory will be a place where theoretical understanding of practical work is first understood. When completed, it will be a hub for IT needs in the country, including a research and development centre to provide solutions to IT problems.
The Group Managing Director/ Chief Executive Officer, Masters Reality International Concepts Limited, Mr. Lai Omotola, said the project, for which international funding has been secured, will cost N5 billion, noting that at this time of the country’s history, entrepreneurs that will come out with new projects to boost the economy is what is needed.
“We have international funding for the project already; you are aware that local banks are no longer lending money to developers. IT content is the nation’s next crude oil; almost 10 billionaires in the world have something to do with IT,” he said.
Already, Omotola explained, the project, had received comprehensive endorsement of all global brands, adding that both local and international brands have indicated interests to be part of the project.
“Our company is pioneering the value chain end of IT. The initiative will bring Nigeria to global recognition as an IT powerhouse. It is about building our own silicon valley. The mall will serve as a specialised operation of IT and compete globally. It will bring Nigeria to global recognition as IT power house,” he explained.
This post was syndicated from The Nation