Added on 10th Oct 2013 ⋅ Posted in - Construction & Infrastructure
A firm, Tejuosho Property Development Company, on Wednesday announced that the construction of the new Tejuosho Ultramodern Market Phase 2, Yaba, will be completed in December.
The company???s Head of Sales and Marketing, Comfort Oluwadairo, said this during a press conference at the new market in Lagos on Wednesday. The development comes about nine years after fire gutted the market on July 29, 2004.
Oluwadairo said although sales of shops were ongoing, the project, which comprises over 1,660 shops in various sizes, underground parking and security would be available to shop owners by the end of the year.
She added that the entire property had been insured, saying it would be wise for shop owners to insure their goods after moving in.
She said, ???As you can see all around, we are putting finishing touches to the property and work is proceeding at a steady pace. We are satisfied with the progress.
???We are a wholly independent real estate development company and our agreement with the government is clear. We are to develop this property as a market and that is precisely our focus. Technology-assisted security will be available to shop owners by the end of the year.???
While fielding questions from journalists as regards litigation over the market, Oluwadairo said it was the Phase 1 of the market and not Phase 2 that was a subject of a court case.
She said, ???Phase 2 of the market is not involved in any court proceedings or litigation whatsoever that may slow it down or adversely affect shop owners.
???PTDC does not have any connection or relationship whatsoever with the Phase 1 or its developers.???
When asked about the former shop owners, who lost their goods in the 2004 inferno and were subsequently promised compensation by the Lagos State Government, Oluwadairo said the issue was between the state government and the shop owners and not the firm.
A special consultant for the project, Wayne Bushell, said the new market would enhance the landscape of the city.
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