Old Mutual delivers on Infrastructure Development

By prime Focus Reporter
December 2013/January 2014
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On 15 June 2012, Old Mutual Namibia launched plans regarding a new mixed-use development to key stakeholders from a spectrum of society, in Keetmanshoop. To date a total of N$92 million (Ninety Two Million Namibia Dollars)has been invested in the development and is fully funded by Old Mutual Namibia.

 

The development consists of over 11,000 m2 of space, of which 10,000 m2 is gross lettable space. Currently occupancy has been secured whilst negotiations are at an advanced stage with other potential tenants to take up the remaining lettable space.

 

The Development boasts 95% retail space and 5% office space, which will provide significant footfall within the Centre. The Centre will also serve the community with a host of confirmed tenants, including Shoprite, Shoprite Liquor, Jet, Edgars Active, Legit, PEP Stores, Mr Price, Clicks, SPUR, Style, Beaver Canoe, Hungry Lion, Fashion Express, Crazy Store, Markhams, Exact, MTC, Crown Electronics, Fashion World and 3 ATMs – Bank Windhoek, First National Bank, Standard Bank.

 

Construction is drawing to an end and the timeline with subcontractors ensures that we have no wasted time on site. The Shopping Centre was designed, and has been constructed to be scalable in future, based on anticipated economic growth in the south and demand for more retail and/or office space.

 

Whilst the initial development will have 10,000 m2 of gross lettable space, Old Mutual has acquired a total of 58,000 m2 providing sufficient scope for further expansion.

 

Managing Director for Old Mutual Africa Operations, Mr. Johannes !Gawaxab reiterated that “As an innovative and socially responsible citizen of Namibia, we are ready to fulfil our promise of delivering on our key transformation objectives – and while we prioritise effective social empowerment programmes and sustainable skills development, we will also continuously push beyond boundaries to drive new ideas and projects to ensure that we deliver real benefits to the communities in which we operate.”

 

Trading at the Mutual Keetmanshoop Mall commences with current tenants on 15 November 2013, and the official launch and plaque presentation is planned in April 2014. PF

 

Issued by: Tracy Eagles

Executive – Marketing, Transformation & Customer Strategy

Old Mutual Namibia

Tel. 061 – 299 3924

E-mail. teagles@oldmutual.com