Updated – Development: Kumasi City Mall, Kumasi – Ghana – Real Estate Market Data and Research for Nigeria and other African Countries | estate intel

Updated – Development: Kumasi City Mall, Kumasi – Ghana

Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury.

  • Name: Kumasi City Mall;
  • Address: Lake Road, Asokwa region, Kumasi – Ghana;
  • Developer: Attebury, Hyprop Investments, Delico Property Development;
  • Use: Retail;
  • Size: 18,500m²;
  • Anchors: Shoprite and Game;
  • Main Contractor: WHBO;
  • Expected Completion: April 2017;
  • Published: September 2016. Updated: March 2017.

Kumasi Mall is an 18,500m² shopping mall development located on Lake Road near the Asakwo region of Kumasi, Ghana. The mall, which has potential for a future 10,000m2 expansion, will be anchored by Shoprite and Game and will incorporate 61 shops/restaurants as well as a 5-screen cinema complex. The tenant mix is expected to include other major South African retailers such as Edgars and popular local Ghanaian brands.

According to 2013 estimates, Kumasi is the 2nd largest city in Ghana with over 2m people, closely following Accra with 2.3m people.  The city is home to a notable amount of mining and manufacturing activity.

Over the past decade, most of the institutional real estate development in Ghana has been focused within the city’s capital, Accra. Newer projects like West Hills Mall and Achimota Retail Centre pushed this trend by moving closer to the edge of Accra as opposed to remaining in the core. This project however, is one of the first where a developer is exploring a retail opportunity within a 2nd tier Ghanaian city. A similar trend commenced in Nigeria a few years ago, however the commodity price crisis and economic turmoil has slowed down the plans of most developers.

Construction commenced in June 2014 and the mall is scheduled to open by April 20, 2017. A larger launch event will be held in May 2017 with The Ashanti King and government officials.

Speaking on the development, Cobus van Heerden, of Atterbury Property Development explained:

“We are optimistic about Ghana and Kumasi City Mall, notwithstanding the challenging economic context in West Africa and competition. There’s a growing positive feeling about Ghana in the market. With its new president, there is also renewed confidence and positive sentiment about Ghana. Kumasi City Mall is perfectly timed for this upsurge in confidence.”

Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury.

Kumasi City Mall, Kumasi – Ghana. Image Source: Atterbury.

Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury.

Kumasi City Mall, Kumasi – Ghana. Image Source: Atterbury.

Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury.

Kumasi City Mall, Kumasi – Ghana. Image Source: Atterbury.

Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury. August 2016.

August 2016. Kumasi City Mall, Kumasi – Ghana. Image Source: Atterbury.

Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury. August 2016.

August 2016. Kumasi City Mall, Kumasi – Ghana. Image Source: Atterbury.

Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury. August 2016.

August 2016. Kumasi City Mall, Kumasi – Ghana. Image Source: Atterbury.

Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury. August 2016.

August 2016. Kumasi City Mall, Kumasi – Ghana. Image Source: Atterbury.

Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury. August 2016.

August 2016. Kumasi City Mall, Kumasi – Ghana. Image Source: Atterbury.

Q1:2017. Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury.

Q1:2017. Kumasi City Mall, Kumasi – Ghana. Image Source: Atterbury.

Q1:2017. Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury.

Q1:2017. Kumasi City Mall, Kumasi – Ghana. Image Source: Atterbury.

Q1:2017. Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury.

Q1:2017. Kumasi City Mall, Kumasi – Ghana. Image Source: Atterbury.

Q1:2017. Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury.

Q1:2017. Kumasi City Mall, Kumasi – Ghana. Image Source: Atterbury.

Q1:2017. Kumasi City Mall, Kumasi - Ghana. Image Source: Atterbury.

Q1:2017. Kumasi City Mall, Kumasi – Ghana. Image Source: Atterbury.

  • Weftari

    finally the developments re spreading outside accra!!