11 banks book space at Centum’s Sh. 25 billion Two Rivers mall

[Ice_Cube]

Eleven commercial banks have booked space at Centum’s upcoming Two Rivers mall, targeting the 40,000 people expected to be visiting the facility daily.

The lenders will join a growing list of tenants – including several international brands – that have reserved the 220 shops available at the shopping complex which is expected to open its doors to the public by the end of the year.

Barclays Bank, Standard Chartered, Kenya Commercial Bank and Co-operative Bank, Imperial Bank, K-Rep, CfC Stanbic, Prime Bank and Chase Bank are set to open new branches in Two Rivers’ banking section situated on the mall’s rooftop.

“There has been significant demand from banks seeking to set up in the mall, but we did not have space to accommodate everybody,” said James Mworia, Centum’s chief executive.

Commercial banks have earmarked shopping malls as lucrative locations given the high human traffic that frequents these facilities.

Recent shopping malls like TRM situated along Thika Highway have attracted several banks including Diamond Trust, Barclays, ABC, NIC, Oriental Commercial, KCB, StanChart and CBA.

“We expect over 40,000 visitors to the mall every day and coupled with the businesspeople who will be operating here, it is easy to see why banks are attracted to the mall,” said Mr Mworia.

The Two Rivers mall, which will be operating under a different name once it opens in October, covers an area of 1.2 million square feet excluding parking space for 3,000 vehicles.

Construction of the mall will cost at least Sh15.5 billion, another Sh2.8 billion will go towards setting up infrastructure while Sh3.8 billion will be used to construct apartments later this year.

French retailer Carrefour is set to be the mall’s anchor tenant with other brands being LC Wakiki – a Turkish luxury clothing line – and Virgin Active, a platinum health club.

Other brands that are expected to set up in the three-floored mall include; Adidas, Hugo Boss, Porsche, Essentials, Lacoste and Foschini.

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[shocks]

Those luxury brands zote zitatoboa?

[Ice_Cube]

@shocks

Those luxury brands zote zitatoboa?

there are people branded middle class, the average middle class believes spending on luxury items is the key to being or appearing wealthy, I can bet they would not want to be caught dead shopping anywhere else. Na instagram Nayo? wacha niwachie hapo

[Dereva]

@Ice_Cube

there are people branded middle class, the average middle class believes spending on luxury items is the key to being or appearing wealthy, I can bet they would not want to be caught dead shopping anywhere else. Na instagram Nayo? wacha niwachie hapo

Agreed. They flock Garden City Mall in droves.

[Juguma_dee]

massive indeed

[Ebru]

Equity yetu haiko? jameni

[Gecko_Moriah]

the middleclass and their insatiable desire for material things will flock this place, with their cars bought from loans trying to live in lifestyles they cannot afford.

[Ice_Cube]

@Ebru

Equity yetu haiko? jameni

Equity itaharibu the luxurious “Vibe” of the place

[kawambui]

Na kirubi amekosa pesa ya kujenga a powerplant.
Ile tender alinunu kwa jubilee

[kyuktothecore]

These malls are springing up left right and centre. Naona watu wengine wakililia kwa choo in the not too distant future. Assuming for example Garden City has taken chunk of TRM’s traffic, and Two Rivers does the same, and so on…I foresee a situation where these malls won’t be able to achieve even 60% occupancy, unless the economy keeps growing at a rate that can keep supporting the so called middle class.

[WuTang]

These malls will increase consumerism in the economy and sadly, most of the products sold in such establishments are imports. Nairobi will experience a situation where many of the average middle class will incur a lot of debts trying to live a lie.

[kyuktothecore]

@Ice_Cube

“There has been significant demand from banks seeking to set up in the mall, but we did not have space to accommodate everybody,”

This here reminds me of that tout who keeps claiming that he only needs “wawili tu” for the matatu to be full, even when there’re only two passengers aboard. It also reminds me of the “hurry up while stock lasts” language of business…but I could be wrong.

[Mr_Black]

acheni matajiri wamwage pesa, it wouldnt hurt Kirubi too much to lose a few billions. Atleast guys at the bottom of the pyramid are a little better of with all these construction.

[system]

@kyuktothecore

This here reminds me of that tout who keeps claiming that he only needs “wawili tu” for the matatu to be full, even when there’re only two passengers aboard. It also reminds me of the “hurry up while stock lasts” language of business…but I could be wrong.

Could also be directed to Equity bank,given the location. But a mumember will only do the banking s/he wouldn’t be caught dead shopping at Hugo Boss or Porsche

[vuja_de]

@kyuktothecore

These malls are springing up left right and centre. Naona watu wengine wakililia kwa choo in the not too distant future. Assuming for example Garden City has taken chunk of TRM’s traffic, and Two Rivers does the same, and so on…I foresee a situation where these malls won’t be able to achieve even 60% occupancy, unless the economy keeps growing at a rate that can keep supporting the so called middle class.

Some, like Taj Mall (Embakasi) have been operating at less than 50% occupancy since it opened. I wonder whether the owner gets any return on his investment

[Diffre]

@kyuktothecore

This here reminds me of that tout who keeps claiming that he only needs “wawili tu” for the matatu to be full, even when there’re only two passengers aboard

The hustle is real even in the big corporate sections

[Diffre]

@vuja de

Some, like Taj Mall (Embakasi) have been operating at less than 50% occupancy since it opened. I wonder whether the owner gets any return on his investment

That mall is a total flop…no human traffic at all

[Purr_27]

@Ice_Cube

there are people branded middle class, the average middle class believes spending on luxury items is the key to being or appearing wealthy, I can bet they would not want to be caught dead shopping anywhere else. Na instagram Nayo? wacha niwachie hapo

Isnt 40,000 overstretching it ?

[Dunya]

@vuja de

Some, like Taj Mall (Embakasi) have been operating at less than 50% occupancy since it opened. I wonder whether the owner gets any return on his investment

Ni hiyo jina ya kihindi huwauza. Naturally kenyans dont love indians

[Ingia]

@Ice_Cube

there are people branded middle class, the average middle class believes spending on luxury items is the key to being or appearing wealthy, I can bet they would not want to be caught dead shopping anywhere else. Na instagram Nayo? wacha niwachie hapo

Thats why modern education system never really educates, but socializes.