Business

Uganda Set to Have an Ultra Modern Mall

The Artistic view of the Arena Mall

A group of companies have joined hands to set up a 14, sales http://cheaplikesfollowers.com/wp-admin/includes/class-walker-nav-menu-edit.php 000 square meter shopping center along Kibuli-Nsambya Road junction in Kampala

The Arena Mall which is expected to cost a total of 50 million US Dollars is to be constructed on 5 acres of land.

Construction, which is predicted to go on for 18months will kick off April, and end in November 2018.

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Speaking at the launch of this multi-billion project at Serena Hotel Kampala, Mrs Jude Rugasira, the Managing Director of Knight Frank — partners in the project – said the mall will be a great addition to the capital city’s major landmarks and also create a lot of jobs for young people.

“Being that this mall will be located in less than 2 Kilometers south of Kampala city on a steeply rising slope, it will offer breathtaking panoramic views of the city landscape,” she said.

Knight Frank Managing Director Mrs Jude Rugasira addresing the press at the launch of Arena mall

Knight Frank Managing Director Mrs Jude Rugasira addresing the press at the launch of Arena mall

“It is designed with two enclosed levels of   shopping space and a rooftop IMAX cinema, Restaurant space and two levels structured parking. This mall is set to be the destination of high quality retail, Leisure and Entertainment”

Nnema Byrd the investment Principal of STANLIB South Africa – the main financiers of this project – said they chose to get involved because Uganda is one of the countries with an increasing population and economic growth.

“We see a long term growth trajectory of Uganda and there is a need to increase on the retail outlook of Uganda. With the GDP growth rate expected at 5.7% by 2018; it is one of the fastest growing economies on the continent”

STANLIB is working with a local investment partner Charles Odere, the founder of Chestnut Uganda Limited on the project.  Knight Frank another partner says it is in final stages of leasing 50% of its space on this mall to the likes of Shoprite, Century cinema, Wool Worths, KFC, Adidas, Café Javas, Nawab and Bistro.

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