Shoppers at Nakumatt supermarket. The retailer has confirmed it will be the main tenant at Green Square Mall in Kericho. Photo/FILE
What you need to know:
Green Square Mall, along the Nairobi–Kisumu Highway, will cost Sh500 million and host 20 shops on completion in 2016.
It will have a gross leasable area of 9,807.9 square metres comprising of 20 shops on two floors.
Retailer Nakumatt has confirmed that it will be the main tenant at the mall.
Kericho is set to get its biggest shopping complex with the construction of Green Square Mall.
The mall, along the Nairobi–Kisumu Highway, will have a gross leasable area of 9,807.9 square metres comprising of 20 shops on two floors on completion in 2016. The project is worth Sh500 million and is being financed by KCB.
The mall’s developers said that they are targeting the county’s growing middle class and customers passing through the town which is not well served by malls that house diverse shops and other outlets.
“Green Square Mall has been developed to be a one-stop-shop that will suit all family needs, for both customers and travellers along the road to dine, shop, bank and relax, all under one roof,” said Chris Ng’eno, director of developer Green Square Mall.
County officials say that demand for modern shopping facilities is also being driven by the growth of industries in the region, expansion by companies, universities opening campuses and NGOs setting up shop.
“Yet many Kericho residents still have to travel to Nairobi to get household items and enjoy a coffee cafe lifestyle and eateries. They will now have the services within their reach,” said Charles Birech, Kericho executive for trade, industrialisation, co-operative management, tourism and wildlife.
Retailer Nakumatt has confirmed that it will be the main tenant at the mall.
The project is being managed by Limojade Management while Dunhill Consulting will be the letting agent. Dunhill is also the letting agent for Thika Road Mall.
Growth of pockets of the middle class in counties, coupled with infrastructure development, has opened an opportunity for retailers and mall developers over the last few years.
Buffalo Mall, a Sh700 million complex, is being constructed in Naivasha Town. Developers said that the fast growing population in the town, which is underserved by modern retail shops, is the reason the mall is located on the Nairobi-Nakuru highway.
Property management firms say there is demand for retail space even in Nairobi County where most shopping malls are concentrated.
“The retail sector in Nairobi has been characterised by low vacancies and steady demand, especially for new and more diverse retailers,” said the 2013-2014 Broll report.
The property management firm also found that in 2013 shopping malls attracted the highest rental yields when compared with other properties.
