By Maduka Nweke
Peedeep Arcade Properties Limited (PAPL), owners of ACADA Arcade Shopping Complex in Ojo, Lagos, has announced new prices for shop units at the complex, effective August 17, 2026.
The company said the new pricing reflects prevailing economic realities and the need to deliver quality infrastructure and a sustainable commercial environment for subscribers.
The price increase was contained in a statement signed by PAPL’s Head of Marketing, Funmi Odetola.
According to the company, the review was driven by rising construction costs, statutory charges and ongoing infrastructure upgrades at the shopping complex.
Under the new price regime, ground-floor shop units will sell for N1.2 million per square metre, while first-floor units will cost N1.1 million per square metre.
The company said the prices are all-inclusive and reflect the expanded scope of construction and infrastructure development at ACADA Arcade.
“These prices are all-inclusive and reflect the enhanced scope of construction and infrastructure delivery at the Acada Arcade Shopping Complex,” the statement said.
PAPL also disclosed that key infrastructure projects are ongoing at the complex, including the installation of a transformer aimed at providing businesses with a more reliable and stable power supply.
“As part of ongoing development works, critical infrastructure—most notably the transformer installation project—is currently underway to ensure a reliable and stable power supply for businesses within the complex,” the company said.
PAPL assured subscribers and other stakeholders that it remains committed to transparency, quality delivery and creating long-term value.
“PeeDeep Arcade Properties Limited appreciates the patience, understanding, and continued trust of its subscribers and stakeholders. We remain steadfast in our commitment to transparency, quality delivery, and long-term value creation,” it said.
(The Sun)