New centre for Mozambique
A MULTI-MILLION RAND PROJECT WITH POTENTIAL FOR FUTURE EXPANSION The top-notch retail asset has a superb location in the port city.
Leading property developer and investor Atterbury has completed the first-phase development of the $20 million (about R258 million) Pemba Shopping centre in Mozambique’s northeastern port city of Pemba, the capital city of the Cabo Delgado province.
The centre officially opened to the public on June 29.
Pemba Shopping is a joint venture between Atterbury and TradeHold Africa.
It has created an 8 000m2 shopping centre, which is a top-notch development that adds a new level of retail convenience for the city.
The centre was officially opened by President Filipe Nyusi on June 28. The event was attended by the Mayor of Pemba, several community leaders and some 2 000 public supporters.
The new centre is one of three shopping centres that Atterbury is delivering across the African continent in 2017.
Atterbury developed the worldclass 18 500m2 modern Kumasi City Mall for its owners, Delico Kumasi Limited, which opened in Ghana in April.
In partnership with Tradehold, Atterbury is also developing the 27 000m2 Dunes Mall in Walvis Bay, Namibia, which is scheduled to open in October.
Pemba is anchored by a 3 500m2 Shoprite supermarket, the first of its kind in the city. OK Furniture and Pep also opened at the centre.
In addition, it features over 4 000m2 of retail space in some 20 stores, incorporating a food court to be opened in the near future.
The potential of a filling station will add even more convenience to the centre. Designed by architects Aevitas Group, the top-notch retail asset has a superb location, generous on-grade parking in 250 bays, security and guaranteed 24/7 power including reserve generators.
Cobus van Heerden of Atterbury Property Development says: “The city of Pemba has enormous economic potential and we are proud to invest in its future with this key development. Doing business in Mozambique, and in Pemba specifically, has been an immensely positive experience.”
Pemba Shopping is currently over 60% let and, since the official opening, interest from prospective tenants has sparked and a few offers are on the table.
An adjacent petrol station to be completed in the near future will add more convenience.
The new retail centre benefits from an excellent location with direct access from the city’s main ring road, just off the Av da Marginal.
It is also well positioned for local residents in an area that has been enjoying a population growth rate of 6.2% a year.
It is less than 3km from the city’s airport, at the heart of the city’s hotel and hospitality industry, and ideally situated to provide tourists with an outstanding shopping experience.
Pemba is also perfectly placed to benefit from massive business growth.
One of the biggest discoveries worldwide of offshore gas in the decade is in Mozambique’s Rovuma Basin, which is offshore from the port city.
Plans to explore these vast offshore gas resources are well advanced in line with the Rovuma Basin domestic gas tender, where the Mozambique government has selected Yara International, Shell Mozambique and GL Energy Africa to work on the gas development projects of the country.
The development includes 8 000m2 of future expansion potential.