South African retailers,Game Stores and Shoprite will battle for the retail market share at the newly opened mall, Waterfront Karen.
Shoprite which expanded its footprint in Kenya, with a new outlet at the Westgate Shopping Mall in March this year, has another outlet at the Garden City mall, making the Waterfront outlet its third outlet in the country.
For Game Stores, this will be its second outlet in the country adding to the current one at the Garden City mall along Thika road.
The Waterfront Karen signed South African retailer, Game Stores as its anchor tenant towards the end of last year. This development comes nearly a year since The Waterfront, Karen signed up Game Stores as the mall’s first anchor tenant.
The Waterfront Karen swung open its doors for business, earlier this month with a current occupancy of about 63 per cent. The Sh3 billion ($805,785) investment which is set on50 acres of land, promises to be the go-to lifestyle and wellness destination in East Africa, offering an unforgettable experience to everyone, every time.
Commenting on the signing of Shoprite, The Waterfront, Karen Director, Dr. David Muguku has said the choice of The Waterfront, Karen as the premises for Shoprite’s third store in Kenya affirms the mall’s unique retail proposition in the market.
According to Dr Muguku, Shoprite’s entry as a co-anchor tenant at The Waterfront, Karen signals renewed confidence in the local retail sector.
“Both Game Stores and Shoprite coexist in malls in South Africa very well and will continue to do soat The Waterfront, Karen.” He added. He said The Waterfront Mall in Karen isset to offer a world class shopping and lifestyle experience for everyone who comes through the mall’s doors with its over 200,000 square feet of retail galleries and restaurants, outdoor amenities and centered around a 3.5 acres man-made lake with a safe, dedicated track for running, walking and cycling.
According to a Cytonn investment’s report dubbed Kenya’s Retail Sector Report 2018, that was released in September this year, in 2018, Nairobi has a retail space of approx. 6.5mn SQFT, a 4.8 per cent increase from 6.2 mn SQFT in 2017, as a result of the opening of malls including South field Mall along Airport North Road, and expansion of Village Market, which added cumulative retail space of0.3 mn SQFT
According to Cytonn, the opportunity in Kenya’s retail market has attracted continental and international brands,spurring competition in the sector. As competition intensified, both chains drove aggressive expansion plans; often at the expense of their suppliers and share holders. Beyond the main larger chains, outfits like Tusky’s, Naivas and Ukwala appealed to the average customer with outlets close to matatu and buster minals.
The industry is currently well represented by both local and international franchises, some of which are highlighted in the table below. Key industry players include Carrefour Kenya (a franchise owned by Majid al Futtaim Group of the UAE), Tuskys, Nakumatt,Uchumi, Massmart (trading in Kenya as Game), Choppies (which acquired Ukwala Supermarkets), Naivas, and many local brands such as Mulley’s, Eastmart,Quickmart and Cleanshelf. The entry of Carrefour, Game, and Choppies has inpart been aided by the recent woes facing Nakumatt and Uchumi.
“Shoprite’s offering of butchery, bakery, deli, fresh food and groceries as well as the diversity and product range that Shoprite will bring on board will delight shoppers visiting The Waterfront, Karen”, Dr. Muguku adds.
Its ecological attraction,the water feature, will reduce dependence on mains water by incorporating sophisticated water recycling and storage system. This coupled with the use of natural light and ventilation as well as insulated roofs will ensure keep comfort utilities lower than other similar modern malls.
The Waterfront, Karen promises to be the go-to lifestyle and wellness destination in East Africa,offering an unforgettable experience to everyone, every time keeping the entire family entertained and allow you to reconnect with nature within minutes of your doorstep.
The Waterfront, Karen has over 1,000 parking bays to use within both open and basement parking,accessible from either Lang’ata Road or Karen Road. There are also designated family parking bays and disabled users allowing for easy access into The Waterfront, Karen.
The Waterfront, Karen has a world class multi-layered security system for its tenants, their assets and customers. Vehicular and pedestrian access into the mall has been secured through four major, convenient, spacious and high-tech scanning entrances along Karen Road and Lang’ata Road.
The Waterfront, Karen is located within the ‘Karen triangle’: the intersection between Lang’ata Road, Karen Roadand Ngong’ Road.
With substantial Government investment in improving the roads network in the area, Karen is set to become even more accessible; and The Waterfront will be right at the heart of this crosshatch of thoroughfare moving into and through the area with ease. Highways Authority (KenHA) has already begun works expanding the Karen-Kikuyu and Karen-Bomas roads, upgrading them to dual carriage standard. Additional lanes connecting Karen suburb to Ngong are also planned.