Rethink the concept of shopping malls in Kenya

It’s not a secret that a majority of the newer malls in Kenya are losing tenants and finding it hard to maintain 90 to 100 per cent occupancy. This can be attributed to a sluggish economy, reluctance by tenants to open outlets in new premises where the customer traffic is not assured as well as the high costs required to open new outlets.

However, some of the older malls are thriving and have added new wings that tenants are eager to occupy. This raises the question; why this difference yet both the old and the new malls operate in the same business environment? What have the older mall owners identified as key factors in operating successful malls? Why are malls in countries such as South Africa and China doing well, yet they are in close proximity to each other?