Sh4.2 billion mall to open in Kisumu after two-year delay
A Sh4.2 billion shopping complex is set to open in the next two months.
The complex owned by the Lake Basin Development Authority (LBDA) was completed two years ago.
The building stands on an 80-acre piece of land at Mamboleo junction along the Kisumu-Kakamega Highway.
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Already, 40 per cent of the space has been booked, which includes a three-star hotel. The complex's opening has been shrouded in controversy including threats to have it auctioned in order to recover debts incurred during its construction.
Yesterday, officials from LBDA announced that the complex will be opened after successful negotiations with the anchor tenant.
Speaking in Kisumu, LBDA Managing Director Evans Atera said French retail chain Carrefour, South Africa’s Shoprite and Botswana’s Choppies are the top bidders for the largest space.
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“The mall is 40 per cent booked although the figure could be well over 70 per cent if we include tenants who are a bit skeptical and are yet to commit themselves fully," said Mr Atera
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“We are very optimistic that once the anchor tenant is announced, we will have others taking up space.”
The authority had come close to penning a deal with Tuskys Supermarket, but the retailer pulled out citing the construction of the Southern by-pass which, according to Tuskys, could obstruct the mall.
According to Atera, the mall has been projected to raise about Sh230 million annually in rent. It will also create jobs for residents, besides boosting Kisumu's image as an investment hub.
Measuring about 60,000 square feet, the five-floor complex has 140 shops, a three-star hotel, showrooms, and a parking area that can accommodate 335 cars. Bata and Sameer Africa have also expressed interest in the mall.
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Lake Basin Development AuthorityMamboleo junctionKisumu