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Garden City Thika Road
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streetwise
#41 Posted : Thursday, May 28, 2015 7:56:02 AM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
And now Muthaiga square next to mathare hospital WOW..real estate will one day go burst !!!!

Is there engough reseacrh supporting all thse mushrooming malls ?
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butterflyke
#42 Posted : Thursday, May 28, 2015 7:57:46 AM
Rank: Elder

Joined: 5/1/2010
Posts: 3,024
Location: Hapa
wa P wrote:
Lolest! wrote:
kiash wrote:
What is the future of these mall like ? Wazuan Experts mko wapy? i saw in some cities in the US where actually malls came from there are several that have become ghost malls.Customers stopped coming and so the traders had to close shop.Am just wondering how long this craze will last in Kenya and especially in Nai.Before the construction of garden mall, there used to be that kamall with Naivas next to where Nakumatt used to be. Then came TRM @roysambu. Now garden mall.There will be Naivas, Nakumatt and Massmart who will start the fight for customers.I hope this will be good for the customers but i do not know how long Naivas will last.Ask Uchumi jipange hapo kando .

Middo kless Kenians want to be seen to shop in malls hata kama ni shopping ya maziwa na mkate

We will pour on the malls, however many they are like mist-to utilise an african proverb


My take:
Junction is on high noon due to impossible access; its next stab on glory is when (if) Ngong road will be expanded.

Galleria: will thrive due to diaspora and Langata people. they are also diversifying into variety center (shops, sports...) and boy they have land!.

Garden City....accessibility may be an issue. Unless they attract customers from far flung areas, the immediate demography does not inspire much confidence.

Two Rivers and The Hub (Karen) will be the malls to beat.

....and to real estate investors - build something in Thika yawa (next to superhighway.)


Next to Two Rivers is Rosslyn Riviera....will be interesting to see how Riviera will thrive next to Two Rivers unless they target a specific niche of clientele...
Float like a butterfly, sting like a bee. - Muhammad Ali🐝
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Aguytrying
#43 Posted : Thursday, May 28, 2015 8:26:58 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Surely with this boom of construction soon a particular niche will be oversupplied. like a certain price range of residential houses. Malls will do well but only the best of the best will thrive
The investor's chief problem - and even his worst enemy - is likely to be himself
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chevapravatdumrong
#44 Posted : Thursday, May 28, 2015 9:21:10 AM
Rank: New-farer

Joined: 10/28/2012
Posts: 18
Location: Somewhere in the middle of nowhere
Taj mall (Embakasi) has been on 50% occupancy ever since it opened, almost 5 years now. Does the owner get any returns on this investment?
You find me offensive? I find you offensive for finding me offensive
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heri
#45 Posted : Thursday, May 28, 2015 9:43:17 AM
Rank: Member

Joined: 9/14/2011
Posts: 869
Location: nairobi
Has anyone been to the expansive watermark business park near Karen hospital. It opened mid last year and one year down the road what i see when i go there is about 30-40% occupancy

I think some of the investors are suffering

i cannot imagine what it would be like to be paying loans when you have 30% of the expected tenants . Not to mention that you may be forced to charge lower than intially budgeted to get better occupancy
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subaru
#46 Posted : Thursday, May 28, 2015 9:53:08 AM
Rank: Member

Joined: 3/15/2010
Posts: 391
Location: nairobie
chevapravatdumrong wrote:
Taj mall (Embakasi) has been on 50% occupancy ever since it opened, almost 5 years now. Does the owner get any returns on this investment?


sometime back we went to enquire about leasing a business room the goodwill was not good considering it was a start up so we bolted may be they were lowered
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MaichBlack
#47 Posted : Thursday, May 28, 2015 10:17:06 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
What will happen with time is that most of these malls will become markets/shopping centers/stalls like etc. The rents will be drastically reduced, the shop spaces will be occupied by kawaida businesses - Njung'e African Dishes, Makerenge wines and Spirits, Swenani Fish Inc., Wamunyota General Merchants (Transport, Plumbing, Photocopy, Cyber Cafe, Plots for Sale, Houses to Let, House girls to and from Dubai, Chai loko, Auctioneer, etc.). And life will go on. For tenants and customers!! For landlords/mall owners especially the ones buying the land at inflated prices, watalilia kwa choo!!! Some Malls of course will survive and will continue housing luxury stores and charging premium rent.

On a lighter note, the name "Mall" should be controlled! Every Tom, Dick and Mary (1/3 gender requirement) are calling whatever kind of building they come up with a mall. If there are shops, it is a mall!! I saw one next to the Weighbridge on your way to Thika calling itself Adva Mall or something like that! I was like "Seriously???".
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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MaichBlack
#48 Posted : Thursday, May 28, 2015 10:29:53 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
dunkang wrote:
TRM has way much better occupancy rate than Mountain Mall. Problem with TRM is excessive overcrowding with thousands of raia flocking in during the weekends and holidays. At times I even feel unsafe.

Garden City may try to keep us, RAIA we Githurai, away by charging exhobitantly especially that there are residences within the mall compound.

And BTW, why the heck is that Mobil Plaza thing at Muthaiga almost unknown and the way ni ya kitambo hapo.

Will not help one bit!! Most people who frequent malls are not there to buy anything - other than stuff from the supermarket and maybe a quick bite.

Next time you go to any mall try to observe. You can start with TRM next time you are there. The shops in the first and second floors selling clothes, perfumes, shoes, jewelry etc. hardly have any customers inside yet the corridors are full. A fellow from Githurai will not suddenly buy a pair of Clarks at 12,000/= yet he knows where he can buy a pair in Githurai at 1,200/= and the seller even throws in a pair of open shoes as a discount!

Watu wataenda Garden City kungethia tu kama kawaida even if a pair of socks is going for 2,000/=. Woe unto them (Garden City) if the 3 acre garden they've been talking about is freely/directly accessible by raia. Picknick destination mara hiyo hiyo. Na kulala chini ya kivuli!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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MaichBlack
#49 Posted : Thursday, May 28, 2015 10:38:25 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
By the way @dunkang for most mixed developments, the residential section is not part of the other sections per se. It is fenced off and access is through a manned gate. You don't go to the mall and all over sudden you have access to all sections including the residences! That would be a security nightmare.

I don't know how Garden Estate have done their design/plan but it would be stupid to have no controlled access to the residential area!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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streetwise
#50 Posted : Thursday, May 28, 2015 10:38:53 AM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
I think they should charge an entrance fee for any one who goes without purchaing goods worth ksh 1000.00.

This will sort the issue and they can pay me a commission for this advise
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