The Lake Basin Development Authority (LBDA) owned, Lake Basin Mall in Kisumu, Kenya is set to officially open its doors to the public in March this year after a two-year delay.
Mr. Evans Atera, LBDA Managing Director confirmed the reports and said the decision to open doors for operation activities was as a result of successful negotiations between the developer and anchor tenant.
Lake Basin Mall
The US $41.6m complex stands on an 80-acre piece of land at Mamboleo junction along the Kisumu-Kakamega Highway. Measuring about 60,000 square feet, the five-floor complex has 140 shops, a three-star hotel, showrooms, a doctor’s plaza, an amphitheater, children’s playing section and a parking area that can accommodate 335 cars. It is also largest in the Western Kenya region.
The building also has a bio-digester which will enable recycling of water and has been fitted with five-lifts at different areas and escalators which will serve the tenants and the clients who will visit the mall. 40% of the mall including a three star hotel has already been booked by French retail chain Carrefour, South Africa’s Shoprite and Botswana’s Choppies as the top bidders for the largest space.
”There are other tenants who can add up the figure to 70% but they have not committed themselves fully. We are very optimistic that once the anchor tenant is announced, we will have others taking up space. Bata and Sameer Africa have also expressed interest in the mall,” said Mr. Evans Atera.
The authority had come close to penning a deal with Tuskys Supermarket, but the retailer pulled out citing the construction of the Southern by-pass which, according to Tuskys, could obstruct the mall.
The mall is anticipated to raise over US $2.2m annually in rent and to create jobs for residents alongside boosting Kisumu’s image as an investment hub.