The construction of the second phase of the Two Rivers project in Nairobi, Kenya is set to commence soon; this is according to the developer- Two Rivers Lifestyle Company Ltd.
Also read:Kenya’s Two Rivers Mall opens doors to the public
The developer expounded that 108 apartments are projected to be constructed and will cost an estimated amount of US$ 37m with the construction beginning in June this year.
This news barely comes after the grand opening of phase one- Two Rivers Mall which took place on Valentine’s Day and is currently the biggest mall in East Africa. The mall is located in the leafy suburbs of Runda neighbouring Gigiri, Muthaiga and Nyali and spans 62,000 sq metres.
Big international brands like the Turkish clothing line LC Waikiki is projected to open its second and biggest store in Kenya at the mega mall, where it will take up 10,000 square metres of space. Other brands include, French retailer Carrefour as well as Virgin Active which is a platinum health club founded by the famous Richard Branson.
The overall amount needed for the construction of the project is estimated at US$ 154m with the apartments on phase two and infrastructure costing US$ 37m and US$ 56m respectively.
Two Rivers project is fully owned by Two Rivers Lifestyle Company Ltd and is being undertaken by Aero-Technology International Engineering Corporation (CATIC) in collaboration with several local sub contractors.
However, Two Rivers Lifestyle Company Ltd is partly owned by NSE-listed Investment Company- Centum where it has a 58 per cent shareholding. Other shareholders are AVIC International which owns 38 per cent and ICDC owning 14 per cent. Centum Group is expected to move its offices to the mall following completion of the first phase.
