Firm invests $400m in 10 years, plans expansion
Since its founding in 2012, Novare Real Estate Africa reported having made investments totaling 400 million dollars in the Nigerian market.
Prof. Fabian Ajogwu, the chairman of the firm, made this announcement on Thursday in Lagos, during the celebration of Novare Lekki Mall’s sixth anniversary and the presentation of the anniversary logo.
According to Ajogwu, the business has accumulated substantial portfolios of interests in Nigeria totaling over 400 million dollars over the course of the last ten years.
He went on to say that the firm has huge plans for the future and will continue to invest in the sector for the sake of economic growth and development.
“Today is a big day for us because it’s been six years since this mall opened and ten years since we’ve been in Nigeria.
“Today is the sixth anniversary of this mall (Novare Lekki Mall), which has changed the way the economy works in Sangotedo and the area around it, as well as in Lagos as a whole.
“Our malls are proof that we are trying to bring in more capital, which helps the government get the foreign direct investments it wants.
“For example, this mall was built with N31.5 billion in foreign direct investment.
“To highlight this commitment and leverage into the government’s infrastructure development initiative, Novare Group has created a robust portfolio of real estate investments,” he added.
Novare Apo Mall, Novare Central, and Novare Gateway, all in Abuja, are under Novare Real Estate Africa’s portfolio.
The firm has created over 3,000 direct and indirect jobs in Nigeria, he claimed.
“Our influence is strong.” Our actions have supported retail and commercial development.
“We’ve created employment.” Novare directly and indirectly employs 3,000 Nigerians.
“These major contributions to national growth weren’t a coincidence; they’re the product of our conviction in establishing a strong, sustainable, and inclusive country,” Ajogwu added.
Novare, he said, will keep putting money into and pushing the government’s diversification plan.
In spite of the difficulties, he added, the firm was enjoying a prosperity of purpose, investment, and the tenacity of its employees and its management.
He claims that, in terms of gross constructed area, the mall is the biggest in Lagos and all of Nigeria.
He pointed out that the business has been able to weather many storms.
Ajogwu assured the public, shareholders, and locals that the firm will always put its stakeholders first.
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