March 03, (THEWILL)- Years after Tayo Amusan changed the shopping landscape in Nigeria by building The Palms Shopping Mall, he is set to replicate the same feat with an arena that will rival what is currently available at the Eko Hotel and Suites, the Eko Convention Centre which is the only housed arena that seats only a few thousands.
Amusan’s groundbreaking project, a 12,000-capacity arena to be located in Victoria Island, Lagos, is expected to gulp $100 million at completion. The ambitious venture to be dubbed ‘The Arena,’ will mark a significant milestone in Nigeria’s entertainment and sports sector and catapult Lagos to the forefront of the global events space. The state-of-the-art facility which will feature a hotel and ample parking space is expected to be completed for use by December 2025. The humongous project conceived by a consortium led by Amusan’s Persianas Group, in collaboration with the Nigerian Sovereign Investment Authority, Live Nation, Oak View Group, Yinka Folawiyo Group, Adino Capital, and MBO Capital, was designed by Yazgan Design Architecture and will be executed by Sinerji İnşaat/Sinerji Construction. The groundbreaking ceremony of the project was conducted by the Lagos State governor, Babajide Sanwo-Olu. Known for acquiring retail supermarkets such as Shoprite Holdings, operators of Shoprite supermarkets in Nigeria, Amusan is on the boards of several Nigerian companies, including Garages Limited, Southern Petroleum Limited, African Paints Nigeria Limited. He is also the chairman of Resourcery Limited.
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