NAIROBI, Kenya, May 16 – Who is Fusion Group?
Fusion Capital is a private Equity House based in Nairobi and operating across East Africa. The group is mainly funded from the United Kingdom and Finland.
We therefore invest the capital in East Africa mainly in property where at the moment our assets and portfolios is in real estate investments.
General Overview- what Investment model does fusion Capital use
On the real estate side of things, we look at it from three levels where we either partner with landowners where the give us land and we bring in capital and develop, or we partner with developers. There is also an option where we bring in capital and do the developing all by ourselves.
Why Greenwood City Mall and what is the Source of Funds
Greenwood City Mall is a mixed-use complex which comprises of a shopping mall, apartments and office bloc. We are funding it through Equity where we are putting in our own capital into it. This is money raised from our pool of investors.
Strategy behind Investing in the Counties
We are keen on counties, but we are only going into those that we think we have a fast mover advantage, so the reason as to why Green Wood City would be in Meru is because at the moment there isn’t a competing mall.
Our observation is where you are trying to squeeze a second or a third mall in a small town then the second or the third tend to struggle.
How many projects have Fusion Done and are there so far?
On the property side we are talking about 14 projects across East Africa some of them in capital are quite huge so there are such as Kigali heights which is the region of $40 million, so about 13 of them across East Africa.
How will the Greenwood city Mall`s Impact Meru county and its environ?
We are looking mainly at the employment creation over the constriction period, having close to 200-300people employed and post construction we are talking of a minimum of a 1000 people getting permanently employed around the mall.
What is the Current occupation/Sign up/ lease status for the Mall?
We are in the regions of 40 percent occupancy; the target is to have it above 85 percent occupied by the time we open.
When will the Mall open its doors and what other plans are underway?
We are looking at November or early December for opening of the shopping mall component of the development.