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Greenspan Mall located along Savannah Dakar road in Donholm, Nairobi is one of the oldest shopping malls in Kenya.
Opened in 2012, the four-storey mall serves residents from various parts of Embakasi including Umoja, Donholm and Buruburu.
The mall is home to over 60 outlets, including international brands and local retailers, among them Java House, Aga Khan Hospital, Bata, Chicken inn, Pizza inn, Standard Chartered Bank, Bank of Africa, Safaricom Shop and Naivas Supermarket, among others.
Greenspan Mall owners
Greenspan Mall was fully owned by South Africa Stanlib Investments through its investment vehicle ILAM Fahari I-Reit, famously known as The REIT Manager. ILAM Fahari I-REIT was the first NSE-listed real estate investment trust in Kenya which owns and manages income generating real estate for the benefit of its investors.
The company provides regular distributions to investors, underpinned by commercial leases and allows anyone to invest in a portfolio of large-scale properties.
Little-known billionaire behind Sh2 billion Galleria Shopping Mall
ILAM Fahari I-REIT mainly invests in Retail shopping centers, Mixed-use developments, and commercial and residential properties.
The firm, managed by ICEA Lion Asset Management (ILAM), acquired Greenspan Mall in July 2015. It had identified the mall as the main property for its listed Real Estate Investment Trust (REIT) offered to the public two months ago.
The transaction was estimated to take Sh2 billion of the Sh3.6 billion raised during the initial public offering.
The acquisition was completed through a share purchase agreement, whereby the REIT gained full control of Greenspan Mall Limited, the company that owns the assets and adjacent parcels of land.
Apart from Greenspan Mall, the company also owns Signature International, Bay International and 67 Gitanga.
In 2020, Fahari I-REIT, which recently delisted from the Main Investment Market Segment of the Nairobi Securities Exchange (NSE) was acquired by Philip Ndegwa family through ICEA Lion Asset Management.
