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0860 22 55 84

 0860 22 55 84

Ikeja City Mall

By 28th February 2017Case Studies

Ikeja City Mall is a new A-grade retail shopping mall, only the 2nd development of its kind to have opened in Lagos and located in the Alausa district in Ikeja, Lagos.

The Mall has been developed to the tune of $100 million by Actis Property Fund, Gruppo Investments (a joint venture between the land owners and RMBWestport Properties) and Stanbic Bank.

Opened in December 2011, key tenants and retailers include Shoprite, Mr Price, Woolworths, KFC and Silverbird Cinemas.
In mid-2011, Gruppo Investments contracted with Servest Parking to provide a turnkey solution for the 740-bay parkade:

Approximately 135,000 parkers use the pay-parking facility per month.

Servest Parking is the lead parking tenant in the Ikeja development, and have signed a long-term lease/rental agreement (eight years plus five years), whereby Servest Parking rents the parking from Ikeja City Mall. The landlord is paid a fixed monthly rental plus a turnover clause and share of revenue.

Servest supplies and maintains the parking equipment, and pays for all parking operations costs, as well as managing all the day-to-day operations, revenue collection and traffic flow.

The scope of services with RMB Westport /ACTIS owners included the complete development of the Mall’s parking infrastructure, design of the entry/exit lanes, supply and installation of the state-of-the-art pay-on-foot parking control equipment, and set-up of the parking systems.
Servest Parking invested over $400,000 in the parking infrastructure and start-up at Ikeja City Mall and this includes the following services:

Equipment malfunctions are less than 0.1% of all transactions/cars processed through the parking

Process on average over 80,000 cars a month (about 2,500 a day)

Managed negotiations between the tenants and landlord on feasible parking tariffs

Establishing a Parking Help-Line to handle all public queries and assistance

Creating employment and opportunities

Servest Parking places huge emphasis on promoting local job creation and has achieved the following successes at Ikeja City Mall:

  • Created 65 new jobs
  • Over 90% of all people employed were from the local communities and had no formal employment or skill training
  • All staff were provided with formal training and continue to receive in-house training to improve service delivery
  • All our staff are uniformed and carry photo-ID name badges


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