Mulk Holdings invests $40 million in Nigeria shopping mall

Dubai: Mulk Holdings, a UAE-based conglomerate, is investing $40 million to develop a duty free shopping centre in Lagos, Nigeria, according to a company statement on Wednesday.

The company has signed a contract with retailer Suzanne Group to develop the mall at the National Theatre of Nigeria.

“Mulk Holdings is adopting aggressive strategies to expand its core business, while diversifying into other sectors like retail, commodities, health care and energy solutions. Our vision 2020 is an ambitious initiative, which involves serious investment into both our existing businesses and diversification into sustainable industries,” Shaji Ul Mulk, chairman of Mulk Holdings, said in a statement.

Mulk Holdings has operations in primarily four sectors — construction, renewable energy, plastics and health care. It has net worth of Dh2 billion.