KINSHASA | Congo Futur Shopping Mall | 3 Fl | Under Construction

[Pius]

Name: Congo Futur Shopping Mall
Project Owner: Congo Futur
Location: Intersection Avenue Mont des Arts and Avenue de la Libération / Gombe



Courtesy of Groupe Congo Futur

[Pius]

[kaps76]

Good to see that this building finally has a name. I am impressed with Congofutur, in about 10 years, they are probably the largest real estate investor in the country with all these projects.

From their website, I saw they have another project called Riverside, two tween tower of 25 storeys along the river. Anyone has info about that?

[BUTEMBO21]

Congo Futur Construction est une promotrice innovatrice de la propriété avec une approche fraîche au développement, se concentrant sur la construction des bâtiments (bureaux et appartements) d’architecture modernes et innovateurs. Pour prendre une part active dans
la modernisation et le développement du pays, Congo Futur a déjà initié plusieurs projets ambitieux, dont le Future Tower (tour multi-fonctionnel de 11 étages située sur le Boulevard du 30 juin au centre-ville de Kinshasa), la Crown Tower (immeuble commercial de 15 étages située au croisement du Blvd du 30 juin et l'avenue Batetela), le Paradise (8 immeubles résidentiels de 6 étages chacun, situé sur l'avenue du 24 Novembreen face de l'ISC), et le RiverSide en construction le long du fleuve (tours jumelles de 25 étages chacune composées de bureaux et appartements). Ces divers projets, en ligne avec les «5 Chantiers» du Président de la RD Congo, est signe de notre engagement à apporter une contribution
dans la résolution du problème de logements et de location de bureaux dans la
capitale, ce qui fait de nous un acteur dynamique et un partenaire de choix
dans le secteur de la construction.

I had no idea about these towers of 25 Storeys.


But yeah, I'm impressed with these guys with their Impressive architecture taste.

[Pius]

Congo Futur is the largest commercial company in the DRC and its role in the national economy will keep growing as it focuses its strategy on occupying a huge market segment (real estate) that has been hitherto neglected by major investors due to false security reasons. Congo Futur represents a new breed of companies, mostly from the South, that are revolutionizing the notion of risk assessment: they have a more realistic view of investment risk based on empirical knowledge of the target country as opposed to theoretical knowledge, cherished by most Western companies, based on prejudices. That is why I believe that companies such as Congo Futur, Rakeen, Hawckwood Properties, Modern Construction, etc. have a great future because, in spite of all “Congopessimism” flying around, the African future economic prosperity will start in the DRC and, as it is in real life, first come, first served.

[BUTEMBO21]

Someone must be blind or prejudiced to ignored Congolese awakening Estate market. If it wasn't for the instabilities in east. We would be seeing double + of whats in Bukavu , Goma and Butembo estate boom.

The prices for land alone in these cities is shocking and mind blowing when you compare them to prices in 2000.

[screenshotartist]

All we need is a couple of more Congo-futur-like companies just to spice up a market competition to speed the progress, quality and quantity; and the country shall move toward development


Here is a clearer shots of the Congo futur Mall in Kinshasa




Uploaded with ImageShack.us

[BUTEMBO21]

I like Highrise malls than the flat out ones.


Yes we need more companies like that. Like Claude Ibalanky (Owner of Nandos in Kinshasa) said , Congolese needs to think big. Stop thinking small businesses.

A really stong Estate would from Goma, Bukavu and Butembo. I'm sure if not the wars that keeps screwing people there, we could see much more Estate companies.

[soyous_2040]

nice project

[Pius]

Originally Posted by BUTEMBO21

Like Claude Ibalanky (Owner of Nandos in Kinshasa) said , Congolese needs to think big. Stop thinking small businesses.

The problem is not the absence of big projects, but rather the lack of financial means to materialize them. The major obstacle to full-blown economic recovery is the predatory nature of local banks’ lending policy. How do you expect businesspeople to invest in big projects when local banks are lending money requiring interest rates up to 35% in a time frame of 12 months? All big projects underway are either self-funded or funded by non-local banks. Instead of futhering, local banks are ruining the chances of a speedy economic recovery.

[BUTEMBO21]

Originally Posted by Pius

The problem is not the absence of big projects, but rather the lack of financial means to materialize them. The major obstacle to full-blown economic recovery is the predatory nature of local banks’ lending policy. How do you expect businesspeople to invest in big projects when local banks are lending money requiring interest rates up to 35% in a time frame of 12 months? All big projects underway are either self-funded or funded by non-local banks. Instead of futhering, local banks are ruining the chances of a speedy economic recovery.

Your right, very right.

But our banks are not even private. they are all still public. Only RawBank is private.
However; the bureaucracy is the biggest killer.

[Pius]

Originally Posted by BUTEMBO21

But our banks are not even private. they are all still public. Only RawBank is private.
However; the bureaucracy is the biggest killer.

No, on the contrary; all banks operating in the DRC are in private hands. Here is a non-exhaustive list thereof:

Banque Congolaise (BC)ex-Union des banques congolaises
ex-Union des banques zaïroises Filiale de :
Swift Developments International
Capitaux de particuliers http://www.congobank.com
Banque Commerciale du Congo (BCDC)ex-Banque Commerciale Zaïroise Filiale de :
Fortis http://www.bcdc.cd
Banque de Commerce et du Développement (BCD) Entreprise privée
Banque internationale pour l'Afrique au Congo (BIAC) Filiale de:
Groupe Elwyn Blattner http://www.biac.cd
Banque internationale de crédit (BIC) Filiale de:
BSG Investments
DSI Investment Banking Services Inc.
Capitaux de particuliers http://www.bic.cd
Citibank - RDC Filiale de :
Citibank
Ecobank - RDC Filiale de :
Ecobank Transnational Incorporated
First International Bank - RDC Filiale de:
First Bank
Access Bank - RDC Filiale de:
Access Bank
Fransabank - RDC Filiale de:
Fransabank
Procredit Bank - RDC Filiale de:
ProCredit Holding AG
Rawbank Filiale de:
Groupe Rawji http://www.rawbank.cd
Stanbic Bank Congoex-Grindlays Filiale de:
Standard Bank of South Africa
Trust Merchant Bank (TMB) Entreprise privée en partie spécialisée dans la micofinance http://www.trustmerchantbank.com
Afriland First Bank - RDC Filiale de:
Afriland First Bank
Invest Bank Congo Entreprise privée
Mining Bank of Congo Filiale de:
IFC Metropol Finance Banque d'investissement dans le secteur minier

Yes, red tape is the second biggest problem facing prospective investors in the DRC, although the situation in this regard has improved considerably in the last 12 months.

[BUTEMBO21]

Thanks .

The red tape in this country is insane. the whole situation (Security especially) is still a sad story. Not good for business or economy.

[Pius]

[hsark]

nice project does any one know how many sqm it is ?

[ILOVERDC13]

Any update or pictures on the projects

[Pius]

This project has been on hold for quite a while. Congo Futur seems to have given priority to the completion of Crown Tower, which is unfortunate because this shopping mall would give Gombe three original malls ( with Rakeen and Congo Trade Centre). This will enhance the attractivity of the commune.

[jjmutax]

Hi, I have been following your threads for a while now when i was living abroad, came back to Congo and still read your brilliant update.
I finally decided to take part in these discussion. Through my work, i met with one of Congo Futur Sales Directeur. Sorry to disapoint some of you but this building here, athough the render say so, is not a shopping center. It is a home product center. They whole building will sell home product from the simple chair, bed, living room, ready-to-assemble furnitures, home accesories and appliances just like a B&Q or an IKEA.
Now for those who like the shopping center idea, they are also building one at the moment around the river, but this project is not advertise on the site.
Good day to all.

[musiccity]

Welcome to SSC RDC jjmutax!

Glad to have someone currently in Congo.

And thanks for the information

[Pius]

Originally Posted by jjmutax

Hi, I have been following your threads for a while now when i was living abroad, came back to Congo and still read your brilliant update.
I finally decided to take part in these discussion. Through my work, i met with one of Congo Futur Sales Directeur. Sorry to disapoint some of you but this building here, athough the render say so, is not a shopping center. It is a home product center. They whole building will sell home product from the simple chair, bed, living room, ready-to-assemble furnitures, home accesories and appliances just like a B&Q or an IKEA.
Now for those who like the shopping center idea, they are also building one at the moment around the river, but this project is not advertise on the site.
Good day to all.

Welcome to SSC jjmutax and thanks a million for the info. Since you are in touch with one of Congo Futur’s directors, would you please, if possible, convey him the following message: we at SSC are fascinated by the pionnering work they are doing in real estate sector in the DRC, but they need to improve their communications policy. I personally tried several times to get in touch with them in order get some info about this very shopping center and the 25-storey twin towers project, Riverside, but to no avail. At least they need to update their website.