23 C
Kenya
Thursday, October 22, 2020

East Africa’s biggest mall to open in Nairobi next month

Must Read

Why single rentals will make you good money in urban areas

Single Rentals: In urban areas, developers of single-room houses have been gaining better returns and demand compared to two-bedroom...

Nyeri Residents Set to Benefit From Equity and Society Supermarket Partnership

Society Supermarket a franchise network of retail supermarkets with branches inLimuru, Naivasha, Thika, and Meru among others has entered...

Jambojet Begins Intercounty Direct Flights From Mombasa To Kisumu And Eldoret

Jambojet Begins Intercounty Direct Flights From Mombasa To Kisumu And Eldoret Regional low-cost carrier Jambojet has commenced direct flights from...

Nairobi’s biggest mall, Two Rivers, is expected to open its doors next month following two previous postponement brought about by an expansion of the original retail space.

The shopping complex was initially to cover a total of 1.2 million square feet of land but this has increased to 1.7 million square feet.

The main reason for the expansion is a move to increase the lettable space from the original 460,000 square feet to over 700,000 square feet, according to the investment firm which is a significant shareholder in the mall.

“The additional time has been due to this over 50 per cent increase in scope of the mall driven by demand from additional retailers,” Fred Murimi, director of Centum Capital, said.

Centum Capital is in charge of development and execution of investment opportunities for the firm, with the multibillion shilling Two Rivers being the flagship project.

The shopping mall sits on 11 of the 102-acre property situated along Limuru Road, in close proximity to the affluent neighbourhoods of Runda, Nyari, Gigiri and Muthaiga in Nairobi.

The firm plans to have Mr Price Apparel, Mr Price Home, Bossini and Adidas stores at the shopping complex.

Other brands that are expected to set up in the three-floored mall include Adidas, Porsche, Essentials and Foschini as well as nearly a dozen banks including Sidian Bank, Prime Bank and Standard Chartered.

The mall will have 207 shops. Construction of the mall will cost about Sh15.5 billion, the apartments Sh3.8 billion while infrastructure will cost Sh5.8 billion, according to Centum.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

190,412FansLike
11,005FollowersFollow
214FollowersFollow
297SubscribersSubscribe
WhatsApp
Telegram

Latest News

DIB Bank Kenya Awarded Best Islamic Bank in Kenya at the Islamic Finance News Awards 2020

DIB Bank Kenya Awarded Best Islamic Bank in Kenya at the Islamic Finance News Awards 2020 DIB Bank Kenya Limited...

Land vs car: Which one should come first?

Land vs car: Investments either in a piece of land or a vehicle is all about buyer preference. But there has always been a...

DIB Bank Kenya Awarded Best Islamic Bank in Kenya at the Islamic Finance News Awards 2020

DIB Bank Kenya Awarded Best Islamic Bank in Kenya at the Islamic Finance News Awards 2020 DIB Bank Kenya Limited (DIB) secured a prestigious win...

Coca-Cola Enhances Consumer Access to its Beverage With a Home Delivery Service

Coca-Cola Enhances Consumer Access to its Beverage With a Home Delivery Service  The Coca-Cola system partners in Kenya have today launched a new home delivery...

Mwananchi Credit Picks Jalang’o as brand ambassador

Mwananchi Credit Picks Jalang’o as brand ambassador Mwananchi Credit Limited has signed up Felix Odiwuor Kodhe, popularly known as Jalang’o, as its brand ambassador. During the...

More Articles Like This