Owerri (Owere) City Developments

[Madubaymi]

[Madubaymi]

[Arinze]

They just built that, interesting. A more flattering look might have been a better choice though.

[Madubaymi]

Shoprite to storm Owerri with $500m investment
FRIDAY, 13 APRIL 2012 09:05 BEN EGUZOZIE

Shoprite
Governor Rochas Okorocha’s recent foreign business trips appear to have started yielding fruits with an agreement by a consortium of global shopping chain that include South Africa’s Shoprite, US’ Wallmart and Topright Ventures Limited, in which Annie Okonkwo is a major stakeholder.

Okonkwo said in Owerri on Wednesday that an ultra- modern shopping mall worth $500 million would be built in Owerri, the now emerging effervescent capital of the state.

According to Okonkwo, the new shopping mall will be built by a consortium led by Topright Ventures and in partnership with Shoprite, Wallmart and other notable global supermarket chains.

He stated that the project becomes feasible owing to the conducive environment and infrastructural development which Governor Okorocha’s ‘Rescue Mission’ administration has provided for investment flow into the state.

“Governor Okorocha is massively building roads, hospitals and schools that have obviously made the state attractive for foreign investors,” said Okonkwo.

He stated that it was for what Okorocha has done, that “we are going to build a shopping mall in Imo State; and this will be about a $500 million investment.”

According to the senator, the investors have been all reached.

“In fact, many firms in big shopping mall business have shown interest, because Imo State governor is leading the way in providing the amenities and infrastructure to enable others, mostly those in the private sector contribute in developing the state,” said Okonkwo.

“The shopping mall will be built by a group of companies led by Topright Ventures with other partners like the Wallmart of USA, Shoprite of South Africa and other world supermarket big chains,” Okonkwo explained.

Shoprite recently announced a $10 billion Africa expansion, with Nigeria being one of the countries to witness the organic growth.

[Madubaymi]

This potential development could put the Enugu Polo Park Mall in the shade. $500million (N98billion) investment in retail? hmmmm...Incredible or incredilous?

[Rdokoye]