Assessment of Shopping Mall Development and Its Impact on Traditional Market Property Values in Enugu State

This study assesses the impact of modern shopping mall development on rental values and occupancy rates of properties in traditional markets in Enugu State, South East Nigeria. The proliferation of enclosed shopping malls in major Nigerian cities has raised concerns about the competitive displacement of established open market traders and the associated decline in traditional market property values. The study employs a comparative descriptive approach, collecting rental value and occupancy data from 120 shops in Ogbete Main Market and 80 stalls in Shoprite Mall and Enugu Mall over a three-year period. Structured interviews were conducted with 40 traditional market traders, 20 mall retailers, and 15 estate surveyors. Analysis compares average rental growth rates, vacancy trends, and trader footfall between both property categories. Findings show that traditional market rental values have remained relatively stable over the assessment period but occupancy has declined at the periphery of Ogbete Market, particularly in sections selling electronic goods and fashion that directly compete with mall offerings. Landlords in peripheral market sections report increasing difficulty in securing and retaining paying tenants. Mall properties continue to attract premium rental rates and very low vacancies. However, the majority of traditional market traders report continued preference for market-based commerce due to lower overhead costs and the retention of bulk buyers. The study concludes that the competitive impact has been sector-specific rather than universal, recommending targeted market upgrading investments to maintain competitiveness. Keywords: shopping mall, traditional market, property values, retail competition, Enugu.