Construction of shopping malls in Nigeria has increased substantially while there is a decrease in mall construction in South Africa a report by Broll Property has revealed.
The report states that Nigeria has over 100,000 m2 of leasable area in modern-format shopping centres and, with a population of over 170 million people, will be adding another 180,000 m2 of retail space by the end of 2016.
Nigeria has lagged behind shopping mall development seen in other countries; however, there are now several large malls under construction.
The emergence development of malls in many African countries like Nigeria and Kenya reflects trends on the continent, a growing middle class and changing lifestyles.
Kenya has also been on the limelight with the emergence of malls that have attracted international investors, enhancing the country’s economy.
In Kenya Two Rivers Mall will be opening soon. It is poised to be the largest in East and Central Africa.
Broll Property Group is one of Africa’s leading commercial property services companies with offices in South Africa and operations in Angola, Cameroon, Ghana, Indian Ocean Islands, Ivory Coast, Kenya, Malawi, Mozambique, Namibia, Nigeria, Swaziland, Uganda and Zambia.
