Broll Nigeria, through its webinar event which was held yesterday, 25th June, is inviting international and indigenous retailers, investors and brokers to take up leasing opportunities at its latest commercial property, the Douala Grand Mall in Cameroon.
The Douala Grand Mall, scheduled to be launched this July is a commercial centre which boasts of 18,000 sqm of lettable area and is strategically located in the vicinity of the international airport in Douala, Cameroon’s economic capital.
With a catchment area of 4 million inhabitants and an estimated monthly footfall of 300,000 visitors, Douala Grand Mall aims to be the first destination shopping centre in Cameroon as well as the largest shopping Mall in Central Africa.
The mall welcomes retailers of all kinds from fashion and beauty stores to healthcare pharmacies, telecommunication providers, entertainment centres and restaurants. Already, it has acquired major anchor tenants including Carrefour, a major European hypermarket and Genesis Cinemas, a prominent regional cinema brand.
Speaking during the webinar, Lola Toye, the Retail Leasing Consultant, Broll Nigeria highlighted economic opportunities available in Cameroon to retailers:
- A resource-rich and geographically diverse country with a favourable business environment and a track record of resilient economic growth.
- A well-diversified economy with wholesale and retail trade as well as business services accounting for 50.2% of GDP, while agriculture, manufacturing and extractive industries account for 49.8%.
- Limited currency risk as Cameroon’s currency, Central African Francs, is pegged by the central bank to the Euro since the 1940s in order to control inflation and maintain stability.
- Political stability and favourable demographics with the median age of 19.8.
Also present at the webinar was Andrei Iosif, Development Manager of Actis - a leading investment company behind the development of the Douala Grand Mall.
Actis which has over 70 years of experience focused on private equity, infrastructure and real estate was also involved in the development of Ikeja City Mall, Accra Mall, Garden City shopping centre in Kenya and several commercial centres across Africa.
In his speech, Andrei expanded on key features of the commercial centre:
- Up to 160 fully customisable shops and 640 car parking spaces, including 340 spaces in a protected partial basement.
- Lifts, escalators and travelators.
- A security system programmed by Bentley Security, a London-based leading international security expert, in collaboration with G4S company and the local authorities.
- Environmental standard-compliant building design that boasts of an EDGE Green Building Certification awarded by the International Finance Company, from the World Bank Group.
He also stated that as the mall prepares to fully open within the fourth quarter of 2020, adequate preparations are being made to ensure that visitors can shop freely while staying safe from the coronavirus pandemic.
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