NAIROBI, Kenya, Nov 27 – Village market has officially opened its doors to its extended mall in the wake of intensified competition from new malls.
The phase two built at a cost of Sh8 billion will have about 100 shops, a 215 room business hotel with a conference centre, 1000 car park, a 14, 000 square foot indoor playground for kids.
The mall also has a new food market, a 30,000 square feet gym, a hospital wing, a trampoline park, laser tag and 10 pin bowling.
Village Market Managing Director Hamad Ehsani says the move was necessitated by demand from the market.
“This is an addition to what the market is requiring, so we were just responding to what the market needed, “Ehsani told Capital FM Business at the launch over the weekend.
The mall is already at 95 percent occupancy and has attracted international brands that include South Africa’s gym brand Ignite Fitness and South Africa’s fashion brands Celio, Foschini and Markhams who are making their entry into the East African Market.
This comes as two new malls opened in close proximity to the village Market that includes Two Rivers Mall and Roslyn Rivera Mall.
Nairobi has close to 48 malls within the Central Business District and its outskirts along Thika, Ngong, Mombasa and North Airport Roads.
“I don’t see anything wrong in building new malls, but we really are not at the stage where we have sufficient demand for them. Some of the new malls that have come, have been affected, but over the period of time, the space will be absorbed due to the growing middle class,” he said.