Topping out ceremony holds for Alliance Place
July 18, 2016 – Edimara Properties Limited, a developer of office accommodation in Lagos, today held a topping out ceremony to celebrate the completion of the structure of Alliance Place, an innovative Grade A office building situated in the prime commercial center of Ikoyi, at 33A Alfred Rewane Road (formerly Kingsway Road), Ikoyi, Lagos. Alliance Place, which has been under construction for a year, has now reached its full height of twelve levels and is scheduled to open later this year. Already, more than 50% of the office space has been committed to tenants.
Once completed, Alliance Place will boast eight floors of flexible office space and meeting rooms, four floors of multi-level parking, a light and airy reception area and a ground floor cafe. Contemporary and international elements along with select African accents will be incorporated into the style of this ultra-modern structure, which will employ green, sustainable development features, including smart technology in its building management systems and services delivering low occupancy costs to its tenants. A high performance glass curtain wall, interior finishes with a contemporary look and feel will also be provided for ease of maintenance and high level user-friendly security and access control systems will be given top priority for tenants and visitors. Finally, a circular traffic management system will be built in to enhance safety and accessibility to and within the building.
Office spaces are designed with high efficiency and flexibility, affording modular spaces ranging from 200 square meters up to 920 square meters on each floor. The building’s central location in Ikoyi will also afford premium access to luxurious hotels including Southern Sun and the Wheatbaker as well as recreation facilities such as the prestigious Ikoyi Club, the Polo Club and the Lagos Boat Club.
The project is being executed by a distinguished team of consultants: Greenhouse Inc. Limited (Project Managers), Ngonyama Okpanum & Associates (Architects), Arup (Civil & Structural Engineers), KOA Consultants (Mechanical & Electrical Engineers), Natuhab (Regulatory Consultants) and HOS Consult Limited (Quantity Surveyors) and Melcon M (HVAC Engineers).
The main building contractor is BCL Limited, which brings 25 years of experience in the Lagos construction arena and utilizes leading edge methodologies to ensure that budget, quality and delivery programs are met.
Edimara Properties Limited is a joint venture between ACA Holdings Limited and Samges Investments Limited.
ACA Holdings is the investment holding arm of African Capital Alliance (ACA), a leading international investment firm focused on structuring and managing investments in various sectors in Sub-Saharan Africa. Since its formation in 1997, ACA has attained capital commitments of over $1billion from investors.
Samges Investments Ltd is a unit of Oasis Group Ltd, an investment holding company operating in asset management, property development, packaging and manufacturing.
CEO of ACA speaks at the 18th annual EMPEA Conference
May 10, 2016, Washington DC, United States – CEO of ACA, Cyril Odu, participated in a panel discussion themed “Creating Value and Maximizing Opportunities” during the 18th Annual Emerging Markets Private Equity Association (EMPEA) Global Private Equity conference, which held in Washington, DC, United States.
In his remarks, Cyril shared various strategies for creating value for portfolio companies, highlighting that deep sector knowledge is critical to finding the right path to value creation.
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CEO of ACA speaks at the 13th annual AVCA Conference
April 27, 2016, Addis Ababa, Ethiopia – CEO of ACA, Cyril Odu, participated in a panel discussion themed “Delivering Alpha in a Time of Uncertainty,” during the13th Annual African Venture Capital Association (AVCA) conference in Addis Ababa, Ethiopia.
The panel, comprising of a diverse group of fund managers, shared various investment strategies for tackling current uncertainties in Africa triggered by economic headwinds such as falling commodity prices and currency volatility.
The Annual AVCA Conference is AVCA’s flagship event, which provides an important platform for private equity and venture capital professionals to discuss the most pertinent investment opportunities and issues facing the continent.
Please click here to view highlights of the conference.
Onitsha Mall opens for business in Southeast Nigeria
April 14, 2016 – African Capital Alliance (ACA) today announced the opening of Onitsha Mall, the premier formal retail shopping center in Onitsha.
Onitsha Mall was developed through a public-private partnership arrangement made between ACA and the Anambra State Government and is built on a 40,000m2 site within a mixed-use precinct in the GRA of Onitsha. Other establishments in this precinct include a Park Inn by Radisson Hotel, a 1,500-person convention center, an office complex and high/medium income residential units.
The first class retail mall is anchored by South African retail giant, Shoprite, and provides 12,000m2 of net lettable space for a retail mix of health, fashion, food, beauty, sports equipment, electronics, entertainment, telecoms and banking. It also boasts of six local and international restaurants, central air-conditioning and 500 parking bays to ensure a comfortable and convenient shopping experience for consumers in Onitsha and its environs. The facility is managed by Broll Nigeria Limited.
Commenting on the opening, Mr. Obi Nwogugu of ACA stated: “Onitsha is a major center of commerce in Nigeria; it has the highest concentration of banking activity when compared to the rest of Anambra and Imo State combined, and it has the third highest number of mobile call volumes after Lagos and Abuja. The mall not only creates jobs and a tax base for the state, but it also improves the quality of life for residents of Onitsha and the surrounding towns.”
The mall was officially opened during a ribbon-cutting ceremony performed by His Excellency, the Executive Governor of Anambra State, Chief Willie Obiano, who thanked ACA for being a credible and capable partner in the development of the landmark mall, stating that it “enhanced the status of Onitsha as the epicenter for commerce in Nigeria.”
Onitsha Mall was funded through ACA’s first real estate fund, a $165 million private equity fund.
ACA facilitates PE workshop for SEC Nigeria
March 24, 2016, Lagos, Nigeria – African Capital Alliance (ACA) facilitated a one-day private equity training workshop for forty management staff of the Securities and Exchange Commission of Nigeria (SEC).
The training was organized in line with ACA’s external impact objective to improve the private equity regulatory climate in the Nigeria.
During the training, ACA provided participants with an extensive overview of the Nigerian private equity industry and discussed ways to create a more regulatory-friendly environment for private equity’s growth in Nigeria.