Follow Us on Google
By Maduka Nweke
PeeDeep Arcade Properties Limited (PAPL), developers of the Acada Arcade ultramodern shopping complex in Lagos, have announced a new pricing structure for shop units within the project, reflecting the impact of rising construction and infrastructure costs.
The revised prices apply to shop units at the Acada Arcade Shopping Complex, located along the LASU–Ojo axis, and will take effect from January 2026. The company said the review affects both ground floor and first-floor units and follows a reassessment of prevailing economic conditions.
In a statement made available to Daily Sun, PAPL explained that the price adjustment was necessitated by increasing construction costs, statutory charges, and ongoing infrastructure upgrades required to deliver a functional, sustainable, and high-quality commercial environment. The company assured subscribers and investors that the review was carried out with value preservation in mind.
“The price review is driven by prevailing economic realities, including rising construction costs, statutory charges, and ongoing infrastructure upgrades required to deliver a functional and sustainable commercial environment,” the statement said, adding that the company remains committed to delivering commensurate value on all investments.
Speaking on the new rates, the Head of Marketing at PeeDeep Arcade Properties Limited, Mrs. Funmi Odetola, disclosed that ground floor shop units will now sell for N1,000,000 per square metre. According to her, the new price represents a 25 percent increase and covers construction cost escalation, Value Added Tax (VAT) of 7.5 percent, and infrastructure contributions of 7.5 percent.
She added that first-floor shop units will be priced at N900,000 per square metre, reflecting a 28.5 percent increase, also inclusive of construction cost increases, VAT of 7.5 percent, and infrastructure contributions of 7.5 percent.
Describing the project as a premium commercial development, Odetola said, “The Acada Shopping Arcade is an exceptional piece of real estate for exceptional clients. It is a showcase of affordability and luxury, to give Ojo and its environs a redefined modern market with an opportunity for a value-driven investment for investors and stress-free patronage away from the crowd for all its customers.”
She noted that the shopping complex is designed to offer a blend of functionality and modern convenience, with facilities such as optimum security, excellent drainage systems, accessible road networks, a green market concept, and other supporting infrastructure aimed at enhancing business operations and customer experience.
“These prices are all-inclusive and reflect the enhanced scope of construction and infrastructure delivery at the Acada Arcade Shopping Complex,” Odetola said.
She revealed that key infrastructure works, including transformer installation, are already underway to guarantee stable and reliable power supply for businesses within the complex.
She concluded by appreciating the patience and trust of subscribers and stakeholders, stressing that PeeDeep Arcade Properties Limited remains committed to transparency, quality delivery, and long-term value creation.
