Britam Properties is to construct a new 12,000 square metre mall in Kileleshwa, Nairobi.
The project will cost $115m and will include offices, serviced apartments and a hotel as well as the mall, despite supply of office space in Kenya outstripping demand by up to three hundred thousand square metres in 2016. Britam have opted for a mixed use mall as “there is pent up demand in Kileleshwa and there are no malls in that proximity” says Britam’s Managing Director Benson Wairegi.
Britam, which is lowering investment in the money markets and starting to invest in real estate, has already bought land worth $96m for its property development projects.
