Safaricom scheme to open Sh4.2b mixed-use mall in May

Safaricom Pensions Scheme has announced its Sh4.2 billion mall-cum-residential development in Machakos County will officially open in the next six months.

The Scheme’s board chairman Joseph Ogutu said Tuesday the real estate development located in Athi River, dubbed Crystal River, is scheduled for opening next May.

“The investment by our 5,000 members is part of an array of projects planned from our Sh7 billion financial war chest that we believe addresses a need that is yet to be met in Machakos county. We seek to serve Lukenya, Mololongo and Konza City communities upon completion in mid-2017,” he said.

Mr Ogutu added that with demand for housing in Machakos county estimated at 1,500 units annually, its Crystal River development would provide 398 housing units for 2,000 people and shopping space for an average of 100,000 visitors daily.

The mall, whose anchor tenant is Naivas supermarket, has also attracted other brands to set up shop including Mater Hospital, Bata and the Java coffee house chain.

The 200,000 square feet mall will house 100 shop outlets, 1,000 parking slots for shoppers, seven restaurants, a conference facility as well as a children’s play facility that will be operated by an international children’s park company.

The three-bedroomed residential units built on a cluster of five-storeyed apartments holding a total of 260 units will retail for Sh8 million, 56 units of three bedroomed town houses Sh13.5 million while four bedroomed townhouses will cost Sh14.5 million.

The Safaricom pension scheme is now in its fifteenth year also holds a 28 per cent stake in the luxurious Mandharini golf and holiday homes currently under development in Kilifi county.