Connect with us

Business News

Shoprite to be anchor tenant at new city mall

Published

on

Loading...

[ad_1]

Companies

Shoppers at a Shoprite outlet.
Shoppers at a Shoprite outlet. FILE PHOTO | NMG 

South African retailer Shoprite is set to take up space at a new mall under construction off Nairobi’s Uhuru Highway.

The firm in a statement Tuesday said leases have been signed with Nanyuki Cedar Mall developer Kiloran Development Group, which will see it take up 4,000 square metres as an anchor tenant at the shopping complex.

Loading...

The new mixed use property, dubbed The Beacon, will be 28,500 square metres (306,771 square feet).

It is located to the east of Uhuru Highway towards Bunyala Road roundabout.

“Shoprite has signed up with Kiloran for a flagship store of almost 4,000 square meters in the iconic development ‘The Beacon’ located in the centre of Nairobi,” said the firm.

The emerging retail chain giant, which operates 2,811 outlets employing 148,000 people, opened 158 new stores in 2017 across 14 countries creating 4,254 jobs.

Its expansion into the Kenyan market comes as a positive development in a sector that has in recent months seen a host of retail chains close shop under mounting debts.

Nakumatt, which was until a few months ago the country’s biggest retailer, has been the worst hit.

[ad_2]

Loading...
Advertisement
Loading...
Loading...

Facebook

Loading...

Trending