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Who Owns Two Rivers Mall and Other Shopping Centers in Nairobi

Nairobi became the official home of central and east Africa’s largest shopping mall with the launch of the Two Rivers Mall on Feb 14, 2017. The Two Rivers Mall is a great architectural masterpiece that has put Kenya on par with Dubai and South Africa. Initially, Two Rivers mall was scheduled to open in October 2015 then the date was pushed to March 2016 and later Feb 2017 due to construction delays. The development is located on Limuru Road and covers 65,000 square meters making it the largest mall in Kenya. People often wonder who owns two rivers mall. The owner of two rivers mall is Two Rivers Lifestyle Company Ltd which comprises of a coalition of several investors including Centum Group (58%), Aviation Industry Corporation of China-Avic (39%) and ICDC (3%).

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The Two Rivers Mall consists of a shopping centre, a three-star hotel, a five-star hotel, office blocks, jewellery dealers, office park and medium density residential apartments. Two Rivers mall was developed and managed by Athena Properties Ltd, a subsidiary of Centum. Chris Kirubi is a billionaire businessman who is a major shareholder in Centum and owns two rivers mall. James Mworia, the Chief Executive Officer, heads Centum. Chris Kirubi is also a deejay and owner of Capital FM, and as of January last year, his fortune was estimated at 22 billion Kenya shillings according to Forbes. Now that it is evident who owns two rivers mall in Kenya, the mall generates Sh2.3 billion in annual rental income.

Garden City Mall

Garden City was one of Kenya’s first integrated retail, residential, and office development projects to offer over 400 apartments, family villas and duplexes, a modern business hotel, a shopping mall, a children’s playground and state-of-the-art medical centre. Actis is a well-known private equity firm based in London created in 2004, came up with the idea to develop Garden City development with over 400 apartments and 60,000 square meters of office space. Actis invested Sh2.5 billion in the Garden City Mall. According to Garden City, approximately Sh31.6 million will be saved annually from power bills due to its solar carport/hybrid system. There are 3,300 solar panels installed on the first car park shade that generates 1,256- megawatt hours annually.

The Junction

The Junction mall is also owned by Actis and is situated at the junction of King’ara road, Ngong Road, and Naivasha Road. The mall is quite spacious and offers 256,000 square feet of floor space with more than 100 stores from local as well as international brands. Junction has been operational for the past 11years and provides customers with a distinctive lifestyle experience all under one roof. The mall has cinema complex, food courts, fashion stores, a supermarket and space/play area for children.

Village Market

Village Market is a large entertainment and shopping recreation complex that offers products and services of different categories. Village Market is owned by an Iranian named Hamed Ehsani and his brother Mehraz Ehsani. The two brothers established the shopping mall in 1992 with only ten shops in the establishment. Since then, the Village Market has expanded and accommodates almost 150 outlets on three levels with an outdoor food court as well as a health and fitness centre. There is also an expansion plan set to add 80 more units to the establishment to serve as the best recreational and shopping experience in Gigiri. Village Market has more than 35 shops that sell accessories, fashion wear, and footwear. The mall also has an exclusive Diplomat supermarket whose commodities are exempt from VAT and duties.

Apart from Village Market, Mehraz designed the Tribe hotel which sits adjacent to the mall. The Ehsani family also runs a business empire with the sons of Hamed, Soha and Hooman Ehsani. In 2014, they travelled to Dubai to receive an award for the newest business addition to the family business known as Palm Valley which was named the Best International Residential Development at the 2014/15 International Property Award.

Galleria

Galleria is a vibrant and modern shopping mall located in the suburbs of Karen in Nairobi. Galleria has an estimated value of 2 billion Kenya shillings owned by Trevor Kanja whose family runs a real estate investment known as Nairobi Homes. The shopping mall covers 12 acres of land and is one of the best entertainment and dining destinations that targets mainly clientele residing in Langata, Rongai, Karen, Ngong, South C, South B and Nairobi West. Galleria has three floors, which are occupied by The Nairobi Hospital, Bata, KFC, Java, ArtCaffe just to name a few. The shopping mall also has a modern brewery distiller known as Serville Brewery and Lounge. This shopping mall has approximately 550 parking bays

Sarit Centre

Sarit Centre was established in 1983 and is owned by Sobhagayachand Vidhu Shah and his friend Maneklal Rughani, who were also running the Text Book Centre. The two owners came up with the idea of putting up the mall after Rughani visited the Brent Cross Shopping Centre located in London. Currently, the mall is under refurbishment that will see 20,000 square feet added to the 50,000 square feet that the shopping mall offers to accommodate the high demand for retail space.

Sarit Centre is located in Westlands, Nairobi and on average 25,000 people visit the premises per day. The mall has several food courts, a 300-seater cinema, banks, Textbook Centres and an expo space that accommodates approximately 50 stands.

Westgate shopping mall

Westgate was established in 2007 and is operated by Westgate Shopping Mall Management. Westgate is owned by an Israeli company known as Sony Holdings. In fact, if you walk around the shopping mall you will notice that there are several Israeli outlets. According to the Business Daily, Sony Holdings is owned by Vishiali Madan and Alex Trachtenberg. Westgate is considered as one of Nairobi‘s fines shopping mall with millions of local and international visitors. The shopping mall covers 350,000 square feet of retail space, with over 90 stores and a Planet Media Cinema complex. Westgate provides a variety of entertainment options for the whole family.

All the stores at Westgate open from 9:00 a.m. until 8:00 p.m. Some of the restaurants and entertainment outlets are open until midnight. The shopping mall is located in Westlands along Mwanzi Road which is convenient for people to access from the city centre and its environs. As a result, apart from convenience, shoppers are assured of an enjoyable shopping experience in a relaxed environment. Westgate also has ample parking that caters for more than 550 cars.

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However, the mall experienced a horrific incident on September 21, 2013, when a terror attack left 68 people dead and over 200 casualties injured. In 2014, Sony Holdings hired IRG which is one of the best Israeli security companies to provide and train security personnel operating in the mall. On July 18, 2015, the mall reopened with almost 90 percent of the previous tenants retaining their leases.

Source: Tuko.co.ke

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