Kisumu: Controversial Sh4b mall finally opens : The Standard

Traders who had booked space at the Sh4.2 billion Lake Basin Mall in Kisumu can now move in. This is after a meeting of the Lake Basin Development Authority Board endorsed partial occupation of the facility -after a two-year wait. “We have decided that clients can move in and settle down to business as we work on completing the remaining work and to officially open the mall,’’ said board chairman Calvince Owidi yesterday. He said the board had inspected the facility and found it fit for use.

SEE ALSO :Uasin Gishu County given two weeks to open Eldoret Market

The opening of the mall, whose budget is under probe by the Ethics and Anti-Corruption Commission, has delayed for more than two years. The mall was projected to raise about Sh230 million annually in rent, with the authority saying recently it had closed deals with major anchor tenants. French retail chain Carrefour, South Africa’s Shoprite and Botswana’s Choppies are said to be among the top bidders.  Creditors had threatened to have the mall auctioned to recover debts. Yesterday, Owidi told the Press there was no need to keep buying time after Treasury sorted out issues that were causing delay.

Related Topics

TradersLake Basin MallLake Basin Mall in KisumuEthics and Anti-Corruption Commission