A new report, for sale malady http://chopcult.com/wp-content/plugins/wp-pagenavi/include/fckeditor/images/secure.php conducted global property firm Knight Frank has listed Kampala among the top three fastest growing cities in Africa.
The Shop Africa Report indicated that Africa’s population has more than doubled over the last thirty years to just over 1.1 billion.
The report studied 47 African countries excluding South Africa which is estimated to have 23 million square meters of shopping center space.
“The continent is experiencing a wave of modern mall development, diagnosis a trend underpinned by long term economic and demographic growth which is the fastest than any other global region,” read the findings.
By The African Development Bank’s definition, around 350 million people in Africa are classified as middle class. Within this group are brand conscious technology savvy consumers who demand access to the increasingly sophisticated retail formats offered by the new wave of shopping malls.
According to the report, Kampala has 128,000 square meters of shopping space in the pipeline. Developers are building one stop centers where people can shop, work and live in the same space. Knight Frank Uganda is currently in charge of leasing and letting Kingdom Kampala, The Arena and Llyods Mall. It also manages Acacia Mall, Village Mall and Victoria Mall in Entebbe.