For those familiar with the Awolowo Road terrain the popular Falomo Shopping complex has been closed for renovation for some months now. Following the closure construction was has also begun and we now hear they want to turn the complex to a modern shopping mall. The Falomo Shopping Mall redevelopment project is apparently a private-public sector agreement between Heirs Real Estate Limited, a wholly owned subsidiary of Heirs Holdings, and the Lagos State Development Property Corporation (LSDPC). Heirs Holding is owned by Business Mogul, Tony Elumelu. I do not have details yet on when the redevelopment will be completed and when the terms of the partnership. Will update as soon as I get more info.
Speaking at the site tour, the Managing Director of LSDPC, Mr. Biodun Oki, said: “The Falomo Shopping Mall’s redevelopment is long overdue. Our partnership with Heirs Holdings is in line with the state government’s urban redevelopment project and it bodes well for the state, the country and for the citizens. Thisday