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Nairobi Metro Region Projects and construction in the Nairobi Metropolitan Region


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Old February 15th, 2013, 07:59 AM   #61
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Nakumatt wants to be here

Additional information on SE9 post of 07th January 2013

Retail giant Nakumatt is seeking to reclaim lost market share on Thika superhighway after it signed an agreement to occupy space in an upcoming mall to be known as Garden City.

The 50,000 square-metres mall will be built near East Africa Breweries Limited (EABL) on a 32-acre piece of land and about 200 metres from where one of its its stores stood before the 2008 demolition to make way for the road.

The mall will be completed in two years and will make the superhighway the centre of competition among top supermarkets including Uchumi, Tuskys and South African retail giant Massmart—which has also booked space in the Sh12.6 billion Garden City.

Completion of the Sh30 billion-road has seen multi-billion shilling shopping malls spring up as real estate investors and retailers seek to tap into a growing middle class with a limited choice of leisure activities.

READ: Supermarkets take competition to Thika superhighway

“We are excited about the opportunity to serve our customers once again in this area as we continue to expand our services and promote our brand across the region,” said Atul Shah, the managing director of Nakumatt.

“We welcome the development of the retail mall within Garden City as this is an area that has been massively underserved by retail services and is now set to benefit from the arrival of many renowned international and local brands,” added Mr Shah in a statement.

The Garden City mall will be bigger than Sarit Centre which measures 30,000 square-metres, Junction Mall at 26,000 square-metres and Westgate Mall (30,000 square metres).

It will house 15 catering units; a cinema hall, an exhibition hall, an events arena, and a children’s play area within a 3-acre central park.

A residential scheme, including 420 apartments and townhouses, will be developed following the launch of the retail centre, offering retail chains a steady flow of consumers backed buyers from outlying estates.

The multi-billion shilling centres emerging on the superhighway, including Mountain Mall, which is 100 metres away from Garden City, offer a concentration of well-heeled shoppers, which is acting as an attraction for the top supermarkets.

Uchumi Supermarkets look set to feel the pinch of the rivalry as new entrants increasingly look at residents on the hinterland of the superhighway, partly because its outlet is housed on a smaller building.

Uchumi sits next to where the Nakumatt store was demolished, meaning that it will face off with Tuskys, which will be housed at the Moutain Mall —opposite Garden City — and Nakumatt that will have an outlet at Thika Road Mall. Uchumi is planning a revamp of its outlet dubbed ‘Jipange’ to match the rivals.

The boom is attracting well-known brands like Massmart, fashion group Foschini and a Mauritian retailer.

“Leasing agent Knight Frank is working with top local and foreign brands to fill the 120 remaining stores in what will become East Africa’s largest retail centre,” said PE fund Actis, which owns Garden City.

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Old February 19th, 2013, 04:16 AM   #62
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Garden City leases out 70pc space
http://www.businessdailyafrica.com/G...z/-/index.html


http://www.businessdailyafrica.com/G...z/-/index.html

Quote:
Property manager Knight Frank has already let out more than two-thirds of the upcoming Garden City real estate development on Thika Road even before groundbreaking of the project has taken place.

The development was initially supposed to start in December with completion targeted for May 2014.

We are currently at 70 per cent on gross leasable area on a pre-let schedule,” said Mr James Muriu, the retail portfolio manager at Knight Frank in an interview.

Mr Muriu said the residential segment will be developed as part of the first phase while commercial office towers will be developed in the second.

The development is being undertaken on a 32-acre piece of land that was bought from East African Breweries by London-based private equity fund Actis for an undisclosed amount.
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Old February 19th, 2013, 01:23 PM   #63
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Quote:
Originally Posted by èđđeůx View Post
Thanks eddeux!

That's great news for the retail sector. More indication that middle class is growing.
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Old May 10th, 2013, 10:33 AM   #64
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IFC to inject Sh4bn in Thika Road shopping mall
Business Daily
9 May 2013
Quote:
The International Finance Corporation (IFC) is negotiating to inject Sh4.1 billion ($49.8 million) in Garden City Mall, a shopping complex conceptualised by private equity firm Actis.

The investment will be in form of a loan and equity stake in Actis, according to an IFC disclosure note seen by the Business Daily. Actis says that Garden City Mall, a development along the Thika Super Highway, will be the region’s biggest shopping complex.

Actis has said Garden City will cost $150 million (Sh12.6 billion) over five years.

“Construction is expected to commence in June 2013 and IFC is considering a loan of up to $40 million and providing up to $9.8 million in equity to the project,” says the IFC note.

Ground breaking for the multi-billion shilling project was planned for December 2012, and completion projected for May 2014. Actis is developing Garden City Mall on a 32-acre site that previously belonged to East African Breweries Limited.

The private equity firm’s plan is for a shopping complex consisting of 50,000 square metres of retail mall, commercial premises, 500 homes, and a four-acre central park.

The disclosure note says that a two-storey shopping centre with 35,800 square metres of space is to be first constructed, with an option of expanding the space by 12,000 square metres.

The disclosure note adds that 421 units are to be constructed and 3.4 acres of serviced land sold to sub-developers at a later date.

At 35,800 square metres of lettable space, the first phase of Garden City will still be the region’s biggest when compared with other shopping malls. The Village Market has 19,500 square metres of retail space that would make Garden City nearly twice as big.

Actis is developing Garden City through its Africa Real Estate Fund II that raised $278 million (Sh23 billion) in October.

“Actis’s 10-person real estate team has already established a visible portfolio for the fund with developments in Kenya, Ghana, Nigeria and Zambia. These include Ghana’s first green office building One Airport Square in Accra and East Africa’s largest retail centre, Garden City in Nairobi,” said Actis at the time.

In a previous interview, Actis head of East Africa Michael Turner said that between $30 million (Sh2.5 billion) to $40 million (Sh3.4 billion) from the Actis Africa Real Estate Fund II would be used for Garden City, indicating room for additional funding.

The IFC is already an investor in the Actis Africa Real Estate Fund II which assures it an indirect investment in the Thika Road complex.
This new proposal would, however, give it a direct entry through the loan and equity investment.
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Old June 13th, 2013, 07:58 PM   #65
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The place where this project is located had some abandoned apartment blocks. They have now been demolished. Expect construction to begin soon.
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Old June 20th, 2013, 07:38 PM   #66
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Construction of
Sh20bn city
property to begin
in July


Construction on a multi-billion
shilling property development on
Thika Road will commence next
month.
A statement released to newsrooms
on Thursday by Actis, a private
equity firm backing the project,
said that construction of phase one
on Garden City will begin in July.
This is against earlier estimates
that had indicated that construction
would begin this month.
“The firm has recently received
authorisations from the National
Environment Management Authority
(NEMA) and the [County] Council of
Nairobi paving the way for
construction,” read part of the
statement.
Garden City is a Sh21.3 billion
($250 million) property
development that incorporates a
50,000 square meter retail mall, at
least 600 residential units and a
park.
The project is located on a 32-acre
piece of land previously owned by
East African Breweries Limited.
Garden City Mall is expected to be
the largest retail outlet of its kind
in the region and has already
drawn the interest of various
international investors.
In February, Actis indicated that it
had already achieved commitments
that would guarantee 70 per cent
occupancy of the mall.
In its statement, Actis provided a
list of 44 tenants who are ready to
occupy the mall once it opens in
November 2014.
Garden City Mall will house Game
Discount World’s first outlet in
Kenya as the South African retail
giant makes its foray into the
Kenyan market.
The South African company will
compete directly with
Nakumatt and Zucchini
GreenGrocer who will also be
occupying space in the mall.
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Old June 21st, 2013, 02:50 PM   #67
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Garden City Park

Quote:
The 3 acre Central Park is at the heart of Garden City. A green, tropical oasis overlooked by apartments and the dining verandas and terraces of the Mall, the Park offers visitors and their families to take time out and enjoy the setting.

There will be chill out areas, picnic areas, play areas for children, places for art and sculpture, water terraces, a showcase for tropical plants and trees, and an events programme where cultural activities, exhibitions, musical and theatrical shows will create a heart and soul to the whole of Garden City and will become a part of the best that Nairobi has to offer.


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Old June 21st, 2013, 02:53 PM   #68
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Garden City Offices







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Old June 21st, 2013, 02:56 PM   #69
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Garden City Mall

Quote:
The mall at Garden City will be the largest in East Africa and will showcase the best and widest range of Kenyan and International brands, many of them new to Kenya. The retail offer will include the best fashion stores, shoes, accessories and jewellery boutiques, supermarket and fresh food outlets, contemporary home wares, chemists, sports ware, everyday essentials, new concept stores, children's retailers and banks.

Garden City Mall will offer the largest range of cafes, restaurants, bars and al fresco dining in Nairobi, and there will be a choice to dine on large verandas overlooking Garden City Park, or grab freshly prepared food and dine on terraces amongst the trees.

The design concept fully embraces the ideal climate that Nairobi has to offer. Gone is the idea of an air conditioned centre, and instead the design is sustainable, comprising low energy buildings with light and airy covered shopping arcades, courtyards, balconies and verandas, full of fresh air.

Garden City Mall combines the best of international contemporary design and best practice, whilst celebrating the arts and crafts of Kenya's heritage, work is being carried out by some of the best artists from Kenya to create a unique place that showcases their work integrated into the Architecture and landscaping of the project.
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Old June 21st, 2013, 11:03 PM   #70
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This and the Two Rivers projects, makes Nairobi, y'all know the speil
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Old June 29th, 2013, 05:36 AM   #71
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Absolutely stunning renders!
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Old June 29th, 2013, 03:27 PM   #72
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Originally Posted by ZKB9 View Post
Absolutely stunning renders!
Wow stunning. Can't wait for it to be complete
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Old July 8th, 2013, 11:26 PM   #73
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Old July 9th, 2013, 01:43 AM   #74
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Thanks! I'm looking forward to this being completed.
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Old July 9th, 2013, 08:25 PM   #75
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They're buying the land that all of those homes sit on for the project?
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Old July 9th, 2013, 10:02 PM   #76
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Nooo, they just showed those homes for the sake of it lool. The project will be located somewhere along the Thika highway.
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Old July 10th, 2013, 04:00 AM   #77
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They're buying the land that all of those homes sit on for the project?
I guess it was just to emphasize the catchment area for the mall. Flying above the northern suburbs.
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Old July 10th, 2013, 04:57 AM   #78
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Quote:
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Nooo, they just showed those homes for the sake of it lool. The project will be located somewhere along the Thika highway.
Quote:
Originally Posted by Kenguy View Post
I guess it was just to emphasize the catchment area for the mall. Flying above the northern suburbs.
Oh well in that case they could've just showed a digital rendering or model of the mall.
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Old July 20th, 2013, 01:58 AM   #79
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Change title to U/C. Work on the foundation has started.
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Old July 20th, 2013, 09:40 PM   #80
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The excavators on site are too many;-)
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