Knight Frank Uganda has announced the sale of Metroplex Shopping Mall-Naalya to Gate Way Delta, a Mauritius based real estate developer.
In a statement dated 25th June 2019, Marc Du Toit (in featured photo), the Head of Retail at Knight Frank, the managers of the Mall said Gate Way Delta will redevelop the mall before its reopening in April 2020.
The redevelopment, according to Marc Du Toit will cost US$21M. Toit told URN that the deal would have gone through earlier but was delayed by uncertainty about the Land and Tenants Bill 2018 that sought to restrict rents in dollars.
“Metroplex Shopping Mall is now owned by Gate Way Delta, a private real estate development company with a permanent capital structure resident in Mauritius,” Marc Du Toit said.
He added: “With a gross lettable area of 13,000 sq. meters, the shopping mall will be the primary shopping, dining and entertainment hub within its primary and secondary catchment area.”
He adds that French based supermarket Carrefour will open a hypermarket store at the Mall in February 2020
Pumi Lukhele, Development Manager at Gate Way Delta said: “Approximately 800 jobs will be created during the construction phase, as well as 400 direct and 1000 indirect jobs post the mall opening.”
