Bouygues Batiment International commercial success in Ajuba, Nigeria
On 14 March Bouygues Construction Nigeria Limited (BCNL) signed the contract for the Jabi Lake shopping mall in Abuja, the capital of Nigeria. Following the signing of the contracts for the Bonny Island Primary School and the British High Commission in Abuja, this is a further large-scale commercial success for our subsidiary. The new building, with a floor space of 32,000 m², will be located in the Jabi Lake business district, a particularly fast-growing development area. It consists primarily of a 2-level shopping arcade with room for around 100 shops and 14 restaurants as well as a mezzanine cinema and around 750 parking spaces. The shopping mall is expected to be open by the end of 2015. With this project, with a value close on USD 79.5 million (around EUR 57.6 million), BCNL is establishing itself as a major player on the construction market in Nigeria, which has the largest population in Africa and is the No. 1 economic power on the continent. The company is positioning itself here as a key partner for foreign private investors: for instance, the Jabi Lake shopping mall is being financed by Actis, a UK private equity firm. The flagship project that is the shopping mall could therefore serve as a showcase for BCNL’s know-how for future development projects around Jabi Lake.