The Lagos State government has officially launched an urban renewal project in Iyana-Iba, located within the Ojo local council, aimed at enhancing business activities, upgrading infrastructure, and improving the overall quality of life for residents.
The Platinum Shopping Complex project, backed by key stakeholders such as the Lagos State Development and Property Corporation (LSDPC), Ojo local council, Almera Global Investment Services, First Trust Mortgage Bank, and MGE Realty Limited, is strategically positioned close to the Specialist General Hospital, the state’s university, and the planned Lagos Rail Mass Transit Purple Line.
Governor Babajide Sanwo-Olu, at the groundbreaking ceremony, emphasized that the complex is part of a larger effort to revitalize the area. “We are not only focusing on improving transportation infrastructure but also enhancing the fiscal infrastructure. Many markets operate informally on the roads, and this project aims to formalize this space. Our goal is for the people of Ojo to experience development akin to other parts of Lagos,” he stated.
The project, which is slated to be completed in 18 months, aims to provide affordable housing and commercial spaces for local businesses. Governor Sanwo-Olu assured residents that the project would be closely monitored to ensure its completion before the end of his administration and that prices would remain affordable for the community.
The Platinum Shopping Complex will feature more than 1,290 shops developed in four phases. Depending on their location, prices for the shops are set at N16 million for a 20-year lease. The complex will offer modern amenities, including spacious shops, ample parking, and round-the-clock security.
Odu Celestine, Sales Team Lead for Platinum Projects, explained that the project was designed to organize local trade and reduce congestion on the roads by providing structured and modern spaces for traders. “We want to make Lagos safer and cleaner by offering traders better spaces to operate,” he said.
Oladipupo Olukunga, Senior Public Affairs Officer for LSDPC, described the Platinum Shopping Complex as a transformative hub for the community. He noted that the complex would replace the informal roadside shops and shanties currently in the area, offering a well-structured facility to complement existing markets like the Trade Fair Complex.
Addressing concerns about affordability, Olukunga assured that the units were designed to be accessible to a broad spectrum of traders, with the help of financial partners and contractors to ensure affordability despite current economic challenges.
