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Greenspan Mall, Naivas Supermarket Sign Lease Agreement

NAIROBI, Kenya, May 18 – The Greenspan Mall, Donholm, a fully owned subsidiary of ILAM Fahari I-REIT, and Naivas Supermarket have announced the signing of a lease agreement that will see the Kenyan homegrown retail chain set up a flagship outlet at the Mall as the anchor tenant.

According to the retailer, the store will occupy 57,000 square feet at the mall’s ground floor, offering shoppers the Food market shopping experience, which focuses on delivering everyday fresh produce that guarantees value for money.

Designed in partnership with a leading international retail design firm, the store will be a hypermarket, offering extensive fresh produce and FMCG products.

Importantly, an extensive range of electronics and general merchandise will also be on offer.

Speaking about this new development, Naivas Chief Commercial Officer, Willy Kimani said, “we are delighted at the prospect of opening a food market in Greenspan Mall, as it offers us an exciting opportunity to provide Eastlands shoppers the Naivas Foodmarket experience. We have not had this store format in the greater area, which has been a long-standing request by our shoppers; we are finally able to fulfill this with the new development.”

He added: “This is not just a story about the expansion of the retailer but a mark of resilience of the retailer in the prevailing business environment and reminder of the commitment of the organization to fill the gaps in underserved communities when it comes to Supermarkets. As a business whose DNA is Kenyan, we bear a responsibility to society and with each store opening, we do our small bit in fulfilling this through purchases from suppliers, offering direct and indirect employment, which ultimately uplifts the communities we set up shop in.”

Commenting on the development, The REIT Chief Executive Officer, Einstein Kihanda, said the move fits within the mall’s strategic objective to enhance variety for the shoppers.

He stated, “We are excited to welcome Naivas Supermarket on board as a partner whom we believe fits
perfectly within our growth and expansion strategy. The partnership has been motivated by the need to
continually offer shoppers at the mall a wide variety of brands, which confirms our sustained commitment to continue offering Greenspan Mall’s patrons a lasting experience all under one stable.”
We look forward to collaborating with our newest partner, existing tenants and the recently appointed

Property Manager, Messrs. Knight Frank Kenya Limited, on significant marketing and promotions investment to drive footfall to the mall and attract new tenants.

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The store is scheduled to open later in the year.

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