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Global retailer Panda Mart on Wednesday opened its first retail outlet in Kenya at Garden City mall in Nairobi even as it eyes to expand to other high-traffic locations across the country.
Panda Mart is based in South Africa and operates in more than 12 countries on the continent and other markets globally.
It now joins French retail chain Carrefour as the two major retailers at Garden City.
Mr Lee Jinglin, who is a spokesman for Panda Mart, said the retailer had invested about $7 million (Sh1.14 billion) to set up the outlet.
“We are excited to be in Kenya. Kenya is the largest economy in East Africa and Central Africa and is well positioned economically. As Panda Mart, we are committed to becoming a cornerstone of retail excellence across the country, bringing together an extensive selection of products under one roof,” said Mr Lee.
He said the retailer has set its sights on opening a second outlet in Karen within the year.
Panda Mart has taken 8,956 square metres of space at the mall, driving its occupancy to 92 percent.
It stocks a wide range of products including beauty products, clothing, furniture, electronics, kitchenware and other household goods.
The retailer said it has a wholesale offering where traders can buy household goods in bulk for reselling.
Panda Mart now occupies space at the mall that was once occupied by South African retailers –Shoprite and Game – before they all run into financial troubles and closed shop.
South African retailer Massmart, which was the operator of the Game Stores, closed three stores it was running in Kenya, five in Nigeria, four in Ghana and one each in Uganda and Tanzania after incurring continued losses.
Shoprite, which is the largest supermarket chain in Africa, also closed shop in 2020 barely two years after launching operations in Kenya after failing to penetrate the local market.
Its space at Garden City was later taken over by Carrefour amid its own expansion drive.
The opening of Panda Mart comes at a time when Kenya’s retail sector is experiencing an expansion craze, with market leaders Naivas and Quickmark rapidly increasing their footprint across the country.
“Panda Mart enables us to complement and enhance the offerings of Garden City, especially household goods,” said Mi Vida Homes Chief Executive Samuel Kariuki.
Mi Vida is the developer of the mall.
Mr Kariuki says the mall is targeting to fill the 8 percent vacant space by the end of the year even as it continues to record growing foot traffic.
“Garden City is unique in that it is one of only two retail centres which are anchored within a mixed use development,” he said.
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237 Garden City by Mi Vida has been designed to provide a unique investment opportunity in affordable housing.
Nestled within Garden City, an already established 47-acre mixed – use development, 237 offers an affordable entry price into owning a share of Garden City.
Phase 1 is currently under construction and sold out, Phase 2 is 50% sold. Follow the project’s construction progress below. Call 0722 123 000 to book a site visit.
Conveniently located 100m away from the Kikuyu/Naivasha Road Junction, KEZA by Mi Vida has been designed to provide a unique investment opportunity in affordable housing. Spanning over 4.5 acres and centered around a green park with recreational facilities, Keza is planned to be Riruta’s Only Urban Oasis.
Phase 1, offering studios, 1 & 2 Bedroom apartments is currently under construction. Phase 2, offering stunning 3-bedroom apartments is now pre-selling.
Follow the project’s construction progress below. Call 0748 588 488 to book a site visit.
Mi Vida Homes, a leading real estate developer in Kenya has announced the complete sell-out of its highly anticipated flagship project, Mi Vida Garden City, pointing to the increased demand for green developments across the country.
Nestled within a 47-acre mixed-use development along Thika Highway, a short drive from Nairobi’s central business district, and with easy access to Jomo Kenyatta International Airport, Mi Vida Garden City is a perfect place to live, work, and relax in effortless balance that marries into nature and earth.
Green open spaces and large colourful landscaped flower gardens welcome you to this tranquil oasis within easy walking distance of Garden City Mall in a move that has seen the developer set the pace for urban green living.
Mi Vida Garden City has captured the imagination of homebuyers seeking a harmonious blend of modern living and green urban spaces.
The development’s unique design philosophy, coupled with a commitment to quality and sustainability, has resulted in overwhelming demand and the rapid sale of all available units.
The development gives investors value with most converting their investments into Airbnb’s achieving dollar yields of 13 percent. This is due to the unique offering the development provides boasting of the largest residential adult and children’s pool, gym, BBQ deck, clubhouse and park.
“Mi Vida Garden City’s success is a testament to our vision at Mi Vida Homes in creating a living experience that goes beyond the ordinary.
“The project’s strategic location, surrounded by lush greenery and thoughtfully designed amenities, resonated strongly with homebuyers and investors looking for a premium lifestyle in a vibrant community without breaking their bank accounts,” said Sam Kariuki, Mi Vida Homes Chief Executive Officer.
Mi Vida Homes boss said his firm remains committed to delivering on its promises and ensuring the highest standards of quality in construction, design, and customer service, paving the way for future projects that will continue to redefine urban living.
“We are delighted to witness the incredible response to Mi Vida Garden City. This achievement underscores the trust and confidence our customers place in Mi Vida Homes.
“We set out to create not just homes but an immersive living experience, and the sell-out of Mi Vida Garden City reaffirms that we are on the right track,” Kariuki added.
After the selling out of Mi Vida Garden City, all eyes now shift to Amaiya, the second phase of their flagship project, located within Garden City offering 1 & 2-bedroom duplexes and 3-bedroom apartments. Construction is already underway. Mi Vida hopes to deliver and complete this project on time as they did with the Mi Vida Garden City which was constructed within 24 months at the peak of the Covid-19 pandemic.
“Amaiya is another great project that will uphold our brand promise of innovative design, modern engineering, trusted construction, and on-time delivery,” Kariuki explained.
Property developer, Mi Vida Homes, has commenced construction of its three key projects, namely Amaiya, 237 GC anchored within Nairobi’s Garden City Development and KEZA in Riruta, Nairobi.
The developer is targeting a mixture of investors and homeowners who are looking for affordable and quality houses within and without the city. KEZA is a 1,150-unit affordable housing project in the Riruta area of Nairobi County with a mix of studio, one, two, and three-bedroom apartments. The demand for such houses has been on the rise.
Amaiya is the second phase of the developer’s mid-market product within Garden City in Nairobi. It follows the successful sale and completion of Mi Vida’s first project within the precinct. The project comprises one and two-bedroom duplexes and three-bedroom units. 237 GC is a 640-unit affordable housing project within the Garden City community, with a mix of studio, one and two-bedroom apartments.
It includes a component of bulk institutional offtake that was recently announced by Mi Vida.
“237 offers high-quality housing within Garden City, complemented by a diverse array of amenities. Life in this community grants you access to a variety of essential services, including supermarkets, delis, over 100 retail shops, restaurants, as well as financial and health facilities,” said Mi Vida Homes Chief Executive Samuel Kariuki.
Commenting on the groundbreaking events, Mr Kariuki noted that this was a significant milestone in keeping the company’s promise to its customers.
“The projects are fully funded, and the current phases are more than 80 percent pre-sold. I am confident that they will be delivered on time, in meeting our customers expectations,” he noted.
He said the mixed-use developments have proven to be increasingly appealing to tenants compared to standalone developments.
“They boast impressive returns, including an up to 13 percent yield across completed projects. Furthermore, the modern home buyer is more informed and wants value beyond the unit they purchase,” said Kariuki. [Graham Kajilwa, The Standard]
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The Kenya Homes Expo stands as the premier homes exhibition in the region, drawing in renowned experts and a diverse array of exhibitors. This event serves as an immersive platform for real estate professionals, offering a prime market for properties, land, financial guidance, and essential information. Mi Vida seized the opportunity to present their forthcoming opulent yet affordable projects, namely Amaiya, 237, and KEZA, located off Waiyaki Way.
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KEZA by Mi Vida had an opening of the recently completed showhouse.
Mi Vida attended the Nairobi Property Expo at the Hub, Karen