Kenyan developers are now focusing on the markets in the county regions to construct shopping malls; this is according to analysts and realtors.
The analysts argue that the urban areas especially Nairobi has now been filled with so many shopping centres which target the middle class market.
During the 2016 East Africa Property Investment Summit (EAPIS), Britam Asset Manager Chief Economist, Mr. Kenneth Kaniu confirmed the reports and said that apart from the Two Rivers Mall which is scheduled for opening sometime this year, there will be no more space for retails in Nairobi.
“Beyond the Two Rivers Mall expected to open by the end of this year 2016, no further retail space will be required in Nairobi.
He further pointed out that some places for instance Naivasha, Nakuru, Kisumu, Nanyuki and Mombasa present brilliant prospects for malls that range between 1,000 to 10,000 square feet.
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A business park is set to be constructed alongside Garden City mall in Kenya’s capital Nairobi its developers have announced.
The owners of the property dubbed The Garden City Business Park (GCBP) have proposed to divide the land into 10 plots and develop offices on two of them and further lease out the rest for predetermined use. It is planned to occupy 23.5 acres of land along Thika Road and will encompass unique facilities like business hotels, a hospital and offices.
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