Muguku Family Wealth: The Muguku family has opened an upmarket Sh. 3 billion shopping complex in Nairobi. The complex is known as Karen Waterfront and its anchor tenant is South Africa’s retail giant, Game.
In an interview with the Business Daily, David Muguku said the 200,000 square feet property occupying 13 acres of land “will host the publicly listed SA retailer on the ground floor as well as chemists, fashion stores, a tyre centre, a grocery store, an art gallery with several spaces reserved for commercial banks and wellness centres.
Retail shops, restaurants, a book store and salons will sit on the upper floor with the next two phases on part of the 50 acre land reserved for development of high-end residential apartments, offices and a hotel”.
“We had 500 workers during construction and are happy that with 110 internationally branded stores and restaurants, more Kenyans have been employed to offer various services. We are still in talks with more international brands and will be making major announcements soon,” he said.
The live-work-shop project was built by Chinese contractor, CJRE East Africa, which is a subsidiary of the China Railway Group Company.
The Waterfront Karen has over 1,000 parking bays to use within both open and basement parking, accessible from either Lang’ata Road or Karen Road.
“Every measure has been taken to ensure that security checks at The Waterfront Karen’s entrances do not interfere with the smooth flow of traffic along the two roads, especially during the forthcoming festive season,” added Dr. Muguku.
He added that The Waterfront Karen – which is set on 50 acres of land, promises to be the go-to lifestyle and wellness destination in East Africa, offering an unforgettable experience to everyone, every time.
“The Waterfront Karen has exploited the wide space it occupies to provide space for would-be shoppers to exercise. It has a dedicated 1.2 kilometres walking, cycling, and jogging track.”
The Waterfront Karen is located within the “Karen Triangle”: the intersection between Lang’ata Road, Karen Road and Ngong’ Road.
A man-made lake that sits on a space of 3 acres complemented by 5 acres of landscaped lakefront is situated right at the heart of The Waterfront Karen.
Beyond enhancing the natural environment, the lake was also created to act as the mall’s main water storage and recycling area. This way, the Waterfront Karen will considerably reduce its reliance on water supplies from public utility companies.
This not only makes sense ecologically but also makes huge financial sense, especially considering that as much as 75 percent of the water bills that consumers pay in Nairobi constitutes sewerage costs.