Nakumatt has stepped up its engagement with local property developers to maintain a constant supply of retail stores letting space. The retailer, which recently embarked on a strategy to expand its operations in all the 47 counties in the next five years, has acknowledged that lack of suitable property developments to house modern retail outlets in various counties remains a major drawback to retail development.
Speaking in Kericho town during the groundbreaking ceremony for the proposed Kshs500 million Green Square Mall, along the main Nairobi-Kisumu-Busia highway, Nakumatt Holdings Managing Director, Mr Atul Shah, said, the retailer’s commitment to establish its operations in all counties can only be achieved with the support of property developers willing to invest at counties.
Nakumatt’s corporate growth strategy which is based on a leasing model, he said, is heavily reliant on the availability of suitable property developments to house its supermarkets or hypermarkets. “As a progressive retailer, our requirements for a constant supply of modern shopping space built to the highest standards present an opportunity for property developers such as Green Square Mall, here in Kericho,” Shah said. “We currently, have running operations in 12 counties and we are engaging with a number of property developers across the country to guarantee a steady supply of suitable malls in Machakos, Nyeri, Kajiado, Garissa, Embu, Naivasha, Narok Busia and Homabay.”