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Leading investment firm in Africa, Heirs Holdings, has signed an agreement with the Lagos State Development Property Corporation (LSDPC), to redevelop Falomo Shopping Complex in Ikoyi, Lagos to a shopping mall, an office complex and residential apartments. Speaking on the agreement the Managing Director of LSDPC, Mr. Biodun Oki, said: “The Falomo Shopping Mall’s redevelopment is long overdue. Our partnership with Heirs Holdings is in line with the state government’s urban redevelopment project and it bodes well for the state, the country and for the citizens. “Once this project is completed, we can all look forward to a new and improved landscape that will stimulate business activity in this area and beyond. Involving the private sector in our redevelopment agenda is the model for all future projects.” Chairman of Heirs Holding, Tony Elumelu, also said, “Redeveloping one of the country’s most iconic malls is part of our commitment to drive development and move Nigeria forward through our business activities. “In addition to financial services, oil and gas, and power, real estate and hospitality is another of our core sectors because it plays a critical role in a nation’s development. In particular, real estate development contributes not just visually but economically to the country’s progress. “We have other development projects in the offing. This include the Transcorp Hotels in Ikoyi, Lagos and Port Harcourt, which will commence this quarter now that we have secured the land. We are also expanding our existing property in Abuja and this is just the beginning of the mega plans we have to transform the Nigerian skyline.”