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Oodua group inaugurates N3bn shopping malls

By on November 1, 2013

The Oodua Group of Companies on Thursday at Dugbe, Ibadan, inaugurated two shopping malls worth N3 billion .

Mr Adebayo Jimoh, the Group Managing Director of Oodua Group of Companies, said that a total of N3 billion was invested in the construction of Heritage and Cocoa Malls.

‘‘The cost of construction of Heritage Mall was about N2 billion, while the cost of the redevelopment of Cocoa Mall was about N1 billion,

‘‘Sustainability of this kind of project is, however, very vital. Therefore, we have out-sourced the facility management of the malls to ensure that all their facilities are functional and are kept in good order,’’ he said.

Adebayo pledged that the shopping malls would be a model in terms of quality management and maintenance of facilities.

He, however, said that the project had already provided about 2,000 employment opportunities for people.

Adebayo said that the construction of Heritage Mall was wholly financed by Oodua Investment Company Limited, while that of Cocoa Mall was carried out by the company, in partnership with Frontline Developer Top Services Limited.

The News Agency of Nigeria (NAN) reports that the Oodua Group of Companies belongs to Oyo, Ogun, Ekiti Osun, and Ondo states.

In his speech, Gov. Abiola Ajimobi of Oyo State commended the conglomerate for opening two world-class shopping malls in Ibadan.

‘‘Oodua Investment Company has established one of the most attractive malls in the world. It is, indeed, part of the transformation agenda of the present government of Oyo State.

‘‘We are complementing what Oodua has done with the establishment of an ultramodern hotel and park at Agodi Gardens,’’ he said.

Ajimobi said that those who came for shopping at the malls would have a good place to stay at the hotel, while the park would serve as a relaxation centre for them.

He attributed the ongoing development of the state to the transformation and urban renewal agenda of his administration.

NAN reports that Gov. Kayode Fayemi of Ekiti, Gov. Ibikunle Amosu of Ogun and Gov. Olusegun Mimiko of Ondo State were represented at the event. (NAN)