Tanzania’s first shopping mall on track

Posted On Wednesday, 29 November 2006 02:00 Published by
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Anchored by two of South Africa’s retail stalwarts – Game and Shoprite – the 19 000m² Mlimani City mall became Tanzania’s first fully-enclosed, air-conditioned shopping centre when it opened mid November says Broll chief executive officer Arnold Meyer.

Property-Housing-Residential

‘While considered modest in size by South African standards, the development of this mall has created huge excitement among Tanzanians – and particularly the almost 30 000-strong South African expatriate community,’ says Meyer. ‘The mall is over 80% let and includes Truworths and Vodacom among its blue-chip tenant list.’

Broll is at the forefront of shopping centre development, leasing and management in several African countries. In addition to the Palms Centre opened in Nigeria in April, Broll is also responsible for leasing of the 25000m² Accra Mall in Ghana. In all three instances these developments have been the first-of-their-kind in markets that are rapidly growing in affluence.

Broll’s non-South African property portfolio accounts for almost one third of the R35-billion under management.

‘Our move into foreign markets is in harmony with our local clients’ needs and our own growth aspirations,’ says Meyer. ‘As local organisations move into Africa they have a need for a variety of property-related services, because of our existing relationship we become the natural choice. Also our association with CB Richard Ellis – the world’s largest property services company – brings opportunities from global businesses.’

‘Significantly however, we have taken a measured approach and in all cases entered into strategic relationships with local players. We envisage partnerships where all parties gain. An important factor has been our ability to offer skills training at our in-house property academy and the results to date have been extremely pleasing.’

The mall at Mlimani City is the first phase of a larger project which includes; a residential component of 55 apartments, a further 10 000m² to 12 000m² value centre and 13 000m² office park. Clearly the continent’s growing GDP is creating opportunities on many fronts.

Last modified on Monday, 14 April 2014 19:28

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