Growing demand for retail space in Kenya
The increasing purchasing power among Kenya‘s growing middle class is driving demand for the construction of more shopping centres.
In Nairobi the Junction Shopping Centre along Ngong Road is to be expanded at a cost of Ksh800 million (US$10 million) to meet the growing demand for space.
The modern expansion will host fashion and department stores, a banking hall, themed restaurants, cafés, a casino, gym, and a children’s play area. An additional 200 parking bays will also be built.
Confirmed tenants include the Deacons Group, Palacina Interiors, Lintons Beauty World, Safaricom and CFC Stanbic Bank.
International property firm, Knight Frank, is currently managing The Junction Shopping Centre and will be leasing space in the mall’s new extension.
“The new mall will offer bigger choice and variety for the target customers, all under one roof. It will be the shopping destination of choice for shoppers in the city,” says Ben Woodhams, managing director of Knight Frank Kenya.
Woodhams says there has been increasing demand for space in the city over the last three years, spurred by a resurgent economy.