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Royal Exchange Mall, Oshodi, Lagos
Royal Exchange mall is located along the Oshodi – Isolo expressway by Charity bus stop, our vision is to create a shopping environment for the middle class communities, intended to attract tenants selling affordable products. Construction works for the upgrade o f the existing plaza to the proposed mall commenced in the 1st week of December 2018 with a projection to launch the mall by the last quarter of 2019.
So far, we have attracted brands that have made commitments for spaces within the mall E.g. Film House Cinema (operators of IMAX) has committed for the entire second floor for five viewing auditoriums. Other interested brands include: CityDia, Medplus Pharmacy, MINISO, RedTag, PEP, Body Essentials and several other brands at different level of discussions. Other features of the mall will include a multilevel car park, escalators, and elevator.
Objectives of the Redevelopment are:
1. Create a shopping environment for the middle class communities. The mall is intended to attract tenants selling affordable products.
2. Create a grade B mall as a social infrastructure towards improving the social feel of the Oshodi environment.
3. Develop a functional mall by allocating shopping floors to segmented sectors to ensure full patronage irrespective of location within the Mall. E.g, ground floor for Anchor tenant, first floor for food court and last floor furniture and other gadgets.
4. Improve the earning capacity of the existing Royal Exchange Plaza.
TARGET MARKET ANALYSIS
- The location will also serve Island workers that forgot to do shopping before leaving the Island for Isolo-Ejigbo Axis
• The mall shall serve the Oshodi /Isolo/Ajao Estate market.
• The environment is made up of Medium–Low income residence with average buying capacities
• There is no current Shopping Mall with credible anchor retail outlet within any of the vicinities mentioned.
• Street Trading is gradually being phased out as people within the environment will appreciate a retail outlet within the environment.
• It is also in tandem with the Lagos State Government development plan for the Oshodi axis.
• Large retail outlet for the likes of Shoprite, game etc.