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Festival Hotel, FESTAC

On 1st January 2020, UPDC relaunched its 471 room Hotel in Festac (formerly Golden Tulip Hotel) with a new name “Festival Hotel and Conferences” and a strong new management team.

As the second-largest conference hotel in Lagos, strategically located on the mainland, our focus will be on developing and harnessing the conferencing and leisure facilities of the hotel and upgrading the rooms to an international 3-star standard in order to grow business from local and international corporates and professional groups.

The Hotel is part of UPDC’s “Festival” Live, Work, Play ecosystem in Festac which also includes The Residences – a block of 170 units of 1 and 2 bedroom apartments, and Festival Mall which is anchored by Shoprite and Genesis Cinema.

The hotel is targeted at MICE (Meetings, Incentives, Conferences and Events) clients, and offers a variety of restaurants and bars; wellness facilities including a gym, tennis and squash courts, jogging and cycling tracks, and a sauna and spa. our growth strategy for the hotel is to adjust from 471 rooms to a more realistic offering which will meet the current hotel demands of our target clientele.

Festival Mall, FESTAC

Festival Mall is a multi-tenanted shopping mall located in the upscale residential estate, Amuwo Odofin, in Lagos. Its offering includes Shoprite as the supermarket anchor, entertainment, food & restaurants, fashion, health & beauty and home goods & lifestyle. The total gross lettable area (“GLA”) is c.10,816 square metres.

Festival Mall is the only major shopping mall in its primary catchment area and is the right size for the population. The mall benefits from synergies with the adjacent Festival Hotel (formerly Golden Tulip Hotel).

It is well-positioned to offer convenience and a mix of leisure and entertainment.

The asset was developed as a joint venture between UPDC, Capital Alliance Property Investment Company (CAPIC) and the UPDC REIT, collectively “First Festival Mall Limited”.

Gross Lettable Area (GLA): 10.816 square meters

Completion Date: 2016

Victoria Mall Plaza 2, (VMP 2) - VI, Lagos

Victoria Mall Plaza (Phase 2) is a 15-storey office complex with a lettable space of 7, 858 sqm, located on Bishop Aboyade Cole Street, Victoria Island, a prominent location in Lagos.

KPMG, a professional service firm has been the anchor tenant since the building was launched in 2013, occupying the building as their head office. The building, often referred to as KPMG Tower, has facilities which consist of water treatment plants, two stand-by 1,000 KVA generators, closed-circuit television installation and a central cooling system.

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Confirmation/Acknowledgements:

  • No guarantee of availability of property until payment received in full
  • Buyer is responsible for payment of fees to any agent engaged by Buyer
  • Buyer shall make and rely upon its own inquiries and shall satisfy itself in all respects in relation to the title and property conditions
  • Payment for the property shall be made only to UPDC’s designated account. UPDC has not authorized any agent to collect payment on its behalf.

  • START
  • FILL YOUR DETAIL
  • CONFIRMATION

Confirmation/Acknowledgements:

  • No guarantee of availability of property until payment received in full
  • Buyer is responsible for payment of fees to any agent engaged by Buyer
  • Buyer shall make and rely upon its own inquiries and shall satisfy itself in all respects in relation to the title and property conditions
  • Payment for the property shall be made only to UPDC’s designated account. UPDC has not authorized any agent to collect payment on its behalf.
  • In the unlikely event that UPDC does not commence the development within 12 months of receipt of the holding deposit, the holding deposit will be refunded to the buyer.