Construction activity on the Douala Grand Mall site has picked up in recent months, with the project team working through Cameroon’s rainy season. The project was announced back in August of 2017, along with another mixed-use development named the Renaissance Place in Abidjan. Both are Actis’ first Real Estate investments in Ivory Coast and Cameroon for thirty years. According to Profica, the project managers, construction commenced in February 2018.
Phase 1 of this project will include an 18,000m2 retail and leisure centre, while Phase 2 (Business Park) includes the development of office buildings across a 12-acre site in Phase 1. It is located in Bonapriso, a district for diplomatic missions and high-end residential developments, and will include basement parking, including a supermarket anchor, entertainment facilities and restaurants.
The project is being executed through a joint venture with Craft Development, a local real estate developer.