PROJECT

Projects

Summary of Investment Information

Project Number

33877

Company Name

ACTIS JABI LAKE MALL DEVELOPMENT COMPANY LIMITED

Date SPI Disclosed

Sep 25, 2013

Country

Nigeria

Region

Africa

Projected Board Date

Oct 28, 2013

Environmental Category

B - Limited

Status

Active

Last Updated Date

Nov 30, 2016

Department

Regional Industry - MAS Africa

Industry

Tourism, Retail and Property

Previous Events

Approved : Dec 30, 2013
Signed : Feb 17, 2014
Invested : Feb 26, 2014

Sector

Construction and Real Estate

Project Description

Actis Africa Real Estate Fund 2 LP (“AR2” or the “Sponsor”), an existing IFC client, is a closed-end private equity fund dedicated to investments in real estate companies and projects in East, West and Southern Africa, excluding South Africa. The Sponsor is undertaking a greenfield development of a shopping mall of international standard in Jabi Lake, Abuja, Nigeria (“the Project”). The Project will help to alleviate the supply gap of high quality retail space in Abuja. At completion the Project is expected to provide approximately 31,000 square meters of business infrastructure.

Duval Properties Limited (“Duval”), as local partners, will co-sponsor the project by contributing land for the development; and AR2 will be the majority owner of the Project.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation