By: Highcelebritysquard
Novare Real Estate Africa said it had invested the sum of $400 million in Nigeria since inception in 2012.
The chairman of the company, Prof. Fabian Ajogwu, said this at the sixth anniversary celebration of Novare Lekki Mall and unveiling of the anniversary logo on Thursday, in Lagos.
Ajogwu said that the company had over the last 10 years built strong portfolios of investments in Nigeria of about $400 million.
He added that the company would continue to play big and invest in the industry for economic growth and development.
“Today is very significant in our journey to mark six years of this particular mall and 10 years of our existence in Nigeria.
“Today, we are celebrating the sixth anniversary of this mall (Novare Lekki Mall), which has transformed the socio-economic dynamics of Sangotedo and its environs and that of Lagos.
“Our malls are testaments to our capital importation drive, which helps to support government’s desire for foreign direct investments.
“For instance, this mall we celebrate today was driven by foreign direct investment valued at N31.5 billion at the time of completion.
“To underscore this commitment as well as tap into the infrastructure development drive of government, the Novare Group has over the last decade built a strong portfolio of investments in the real estate sector running into millions of dollars,” he said.
According to him, the Novare Real Estate Africa portfolio includes Novare Apo Mall, Novare Central, Novare Gateway, all in Abuja, and Novare Lekki Mall.
He said the company’s impact remained strong in Nigeria with the creation of over 3,000 direct and indirect employment.
“Our impact as an organisation remains strong. Through our activities we have continued to support the growth of retail and commercial businesses.
“We have also continued to create jobs. Today, Novare employs more than 3,000 Nigerians through direct and indirect employment.
“These landmark contributions to national development were not by coincidence; they are the result of our belief in building a strong, viable and inclusive nation,” Ajogwu said.
He said that Novare would continue to invest in and help drive government’s diversification agenda.
He said that the company was celebrating a prosperity of purpose of investment and the resilience of our people and of the management in spite of the inherent challenges.
According to him, the mall is the largest shopping mall in Lagos, as well as in Nigeria by gross built area.
He noted that the company had survived different circles of difficulties.
Ajogwu said that the company would continue to be mindful of its stakeholders, core investors, host communities and the government, among others.
