Kenya’s largest shopping complex opened in Nairobi on Friday, putting the Kenyan capital on the forefront as a leading destination for shoppers, officials said.
The Two Rivers Mall, a US$800 million project, expected to host 50,000 shoppers daily, opened doors at a ceremony flagged off by President Uhuru Kenyatta.
“Our master plan is to establish satellite cities like this one,” said Nairobi Governor Evans Kidero.
After opening its first phase earlier, a US$270 million complex, Two Rivers Mall, attracted international shopping brands as well as local retail brands.
Currently, Two Rivers Mall houses five-star hotels, recreation facilities and financial services facilities, including 10 banks and 20 restaurants.
“This investment shows the possibility and potential that exists,” said President Kenyatta, noting that the project was a sign of Kenya’s financial sector maturity.
The project is partially backed by local bankers, 38% Chinese investors and Old Mutual Group, which is expected to hold 50% of the stake when it is completed.
