Phase one of the development by investor Agra will see the centre refurbished, upgraded and refreshed to create a vibrant modern shopping environment. It will add more retail space in the centre to meet the growing needs of local consumers and take the centre into the future.
Malcolm Horne, CEO of Broll Property Group, which provides professional real estate services in over 15 sub-Saharan countries from its eight offices in the country, says, "The centre responds to increasing consumer needs, typical of those being experienced by the emerging middleclass in many African regions. These growing consumer markets are attracting interest from retailers seeking to unlock new opportunities and driving up demand for formal retail space."
Namibia is one of the region's fastest growing markets, positioning the upgrade of the centre for success.
Horne says the enhanced centre will offer a heightened shopping experience and will be a welcome addition to the country's blossoming retail landscape.
Broll Namibia is a strategic partnership between the Broll Property Group and the Ohlthaver & List group of companies in Namibia. It was founded in 2003 and manages properties valued over N$1.3 billion, including some of the most prestigious buildings and shopping centres in Namibia.
"This project creates a modern top-class retail environment that will easily find its place in Windhoek's retail sector, which is growing substantially and set to carry on in the immediate future. Strong consumer spending and stable political conditions are also attracting a variety of South African retailers."
Marco Wenk, MD of Broll Namibia, adds, "The N$120 million phase one is already underway and includes refurbishing the existing mall, erecting a new parking deck, a new mall entrance facade and upgrading and creation of new shops. It will be complete in September 2014."
The project also includes the upgrade and refurbishment of retailers Pick n Pay, Safari Den, Nictus, Agra, Looks Hair Design, Auas Vet Med, Bank Windhoek and a redesign of the Auas Pharmacy to include doctors' consulting rooms.
"The new tenant mix will offer wider variety for shoppers. It will include Steers, Debonairs, Fishaways, Fresh & Wild, the first Pep Home in Windhoek, SA Electronics, Silverberry, a coffee shop and a sushi restaurant, Classic Pet Boutique, La Mareez, Happy Shop, Colour Fashions and a carwash.
"The upgrade will secure and grow its market share thanks to a new contemporary design that offers more choice and convenience," concludes Wenk.
