Kenya: US$ 25m Kisumu shopping mall almost complete
A US$ 25m shopping mall which is being constructed in Kisumu, Kenya is nearing completion and is projected to be the largest of its kind in the region. It is anticipated to help push up the property value in the area.
The mega mall which is being constructed by the Lake Basin Development Authority is a 27,000 square metres expected to constitute of a five-star hotel, a regional resource centre, more than 1,000 housing units as well as a complex consisting of three office blocks. This is besides serving as the headquarters of the Lake Basin Development in Kisumu.
Nikon chooses Nairobi for debut showroom
Nikon, a Japanese manufacturer of high-end cameras, has opened a multimillion-shilling showroom in Kenya, marking the latest local venture by investors from the Asian giant.
The Tokyo-based company has invested in a Sh20 million showroom at TRM shopping mall on Thika Road, targeting the country’s photography enthusiasts and demand from the nascent film industry.
The tech firm, whose products include cameras, lenses, binoculars, micro-scopes and measurement instruments, currently has a presence in 30 African countries, but the Kenyan showroom is the first of its kind on the continent.
Kenya is building Africa’s biggest wind energy farm to generate a fifth of its power
Kenya set in motion the construction of Africa’s biggest wind power farm this week, near Laisamis, 550km north of Kenya’s capital Nairobi.
Known as the Lake Turkana Wind Power Project, the wind farm site covers 40,000 acres (162km2), which will be powered by the ‘Turkana Corridorwind.’ It is a low-level jet stream originating from the Indian Ocean and blows all year round.
The project will consist of 365 turbines and expected to achieve 68% load capacity factor, which will make it the most efficient wind power farm in the world.
MORE THAN 223 NEW SHOPPING CENTRES ARE EXPECTED TO BE OPENED IN AFRICA BY 2018
By the year 2018, more than 223 new shopping centres are expected to be opened across the continent and the total surface area (GLA), excluding South Africa, is expected to reach 10 million m² by the year under review.
According to Sagaci Research, a market intelligence firm dedicated to African markets, these new malls openings will provide more store opening opportunities for retail brands, especially in Egypt, Morocco, Nigeria, Kenya, Ghana, Angola, Zambia, Mozambique and Namibia where a large number of new malls are expected to open in the coming years.
