Superior Homes Kenya PLC, the developers of iconic Greenpark estate, is set to build a retail frontage commercial centre to be built at a cost of Ksh 350 million.
The developer will break ground for the 3,500 square meters- commercial centre in the second quarter of 2021 and will be completed in 2022.
The commercial centre, to be situated at the front of the Greenpark Estate, will provide a shopping outlet for the growing number of residents of Greenpark estate now nearing 700 families.
It will also give a one-stop shopping opportunity for the travellers along the busy Nairobi – Mombasa Highway, which is currently under expansion.
The on-going construction of the Nairobi Expressway, which is targeted to rid Mombasa Road of the notorious traffic snarl-ups, is also expected to attract more residents to the Mlolongo, Kitengela and Athi River areas.
“Our concept to launch the retail frontage is attributed to the relatively high occupancy for residents and motorists along the Nairobi-Mombasa highway with high consumer purchasing power,” said Superior Homes Chief Executive Shiv Arora.
He added that the Expressway will be a game changer, as the anticipated traffic-free infrastructure will play a major role in providing ease of accessibility of the retail centre to both the residents of Greenpark and the general public.
“The commercial centre, a first concept in Mavoko County, will comprise of convenience stores, small outlets, dry cleaners, offices, banks and supermarkets and everything that the community needs to be sufficient.”
The project is part of the year’s re-evaluated business model approach for the real estate developer as it bounces back to recovery following the impact of COVID- 19 that affected the real estate sector last year.
Research has shown that most developers have resolved to concentrate on the delivery of well-located small and medium-sized convenience shopping centres instead of the popular mega-malls.
Nairobi has the greatest volume of modern retail floor space in the sub-Saharan and continues to be a development hotspot.