Peedeep Arcade Properties Tasks Stakeholders to Deepen Investment in Acada Arcade Shopping Mall

By Azeez Disu

The MD/CEO of Peedeep Arcade Properties Limited, Col. Kingsley Umoh (retd), has urged subscribers and stakeholders to deepen their investment in the real estate sector by referring more individuals to secure a property within burgeoning developments like the Acada Arcade shopping mall.

He disclosed this at the presentation of provisional allocation documents to subscribers held recently at the shopping mall. The mall, located opposite Lagos State University (LASU), is strategically positioned to be one of the biggest malls in the country. It is also a joint venture between his company and Post Service Housing Development Limited.

Col. Umoh (retd) highlighted the comprehensive nature of the Acada Arcade, emphasizing its vision as a modern market catering to a diverse range of business needs. “The facility would host all sorts of businesses you can think of. It will be a modern market with all you can think of. From office compartments and clinics to vegetable stalls, and others,” stated Col. Umoh.

Further underscoring the mall’s commitment to convenience and community, he pointed out the inclusion of a private and Peedeep-owned creche, designed to support nursing and working-class parents. He also elaborated on the accessibility of essential services, explaining that customers would have the luxury of obtaining pharmaceutical products and prescriptions directly within the facility.

He also reiterated the company’s dedication to providing both luxurious and affordable property options for all Nigerians, regardless of their financial standing.

Funmi Odetola, Head of Marketing, commented on the broader impact of such developments within the Nigerian real estate sector. She added that the mall is set to refine the real estate industry and create opportunities for various individuals to engage in business.

From the perspective of the Post Service Estate community, represented by Ore Ekundayo, Financial Secretary, Post Service Estate Resident Association, the Acada Arcade is a welcome addition. He noted the positive impact on residents who previously had to travel far to shop and can now benefit from a closer location.

“The project started some years back and it has really affected residents because most of them had their shops in Alaba market, but now that they have this one closer to them, it makes it easier and they are beginning to buy into the vision of why this place is built. So, as we speak, we have a lot of residents who have bought shops and we also have new subscribers,” stated Ekundayo. He also highlighted the appeal of the location, being very close to an army estate, which provides a sense of security and assurance for investors.

A subscriber, Adeleye Femi, expressed optimism regarding the project’s location and the potential for leveraging the proximity to LASU. “And why this opportunity is that it’s so true for LASU, and I know LASU is a known name and I want to believe even the LASU audience alone would give you that kind of leverage to be able to extend your tent and make your sales in a jiffy,” the subscriber remarked, emphasizing the strategic advantage of the mall’s positioning for business growth.

Col. Umoh also reflected on the public trust being built through this project, particularly given its connection to the army. He acknowledged the initial skepticism some might have had about civilian-army collaborations but highlighted the success of previous projects, such as “The Arena Market,” which he oversaw, as evidence of the army’s commitment to successful partnerships. “Public trust. That’s exactly what all of this is about,” Col. Umoh stated. “The arena has been the reason why we sell this project a little more easily because we keep drawing people’s attention to what the Army did at The Arena Market.”

He further explained that the project’s growth has been significantly fueled by subscriber investment, with support also received from banks, and expressed hope that the strengthening public trust in the army’s involvement will further facilitate participation.

The event and the statements from the stakeholders underscore Peedeep Arcade Properties’ commitment to developing a vibrant commercial hub at the Acada Arcade, fostering investment, and providing a convenient and luxurious environment for businesses and consumers alike.