Construction works for the to-be largest mall in Mount Kenya region is set to begin following the ground breaking on Tuesday this week. The Cedar Mall, which will be located in Nanyuki town, Laikipia County and along Rumuruti Road, will be constructed on a 12, 000 square meters of land.
The project will be undertaken in two phases. Phase one of construction will deliver 12,000 Sqm of retail space. Kiloran managing partner Andrew Gartrell said Phase one of the project will open on September 2016. He said it will be the first project for the company in the country. The development will entail construction of restaurants, outlets that will host international retailers such as Chandarana Food Plus, and a food court.
When completed, it will also have Car parking spaces, stand-by generator and other facilities.
The Cedar Mall project comes in the wake of growing demand for retail space, despite large malls and commercial development projects already on course. A number of companies are funding retail developments across the country, including development of Two Rivers, a 830,000sqm development set to hose the largest mall in sub-Sahara (sitting on 62,000 square meters) Africa with exclusion of South Africa. It will be based at Runda/Gigiri area, Nairobi area and construction has already kicked off.
“This development will bring greater convenience to the residents of Nanyuki and beyond and is directly in line with our 2012-2016 expansion strategy that focuses on counties,” said Frank Ireri, the chief executive of HF.
The construction project is co-owned by Kiloran Development Group which is an investment vehicle for British nationals – and the Housing Finance. Housing Finance will be contributing US8.8m (Ksh.820 million) while Kiloran will contribute the rest.