Retail Property Malawi Wowee
Pick n Pay, eyeing a belated but determined expansion into African markets, will become the anchor tenant of Malawi’s first regional shopping centre, under development in the capital, Lilongwe. The mall, which will cover a relatively modest 18,000m2 and cost $40m to develop, has been financed by the National Bank of Malawi and two major international financial institutions, and is being put together by an experienced team of South African developers, financiers, designers and contractors. As behoves Malawi’s central position, offering access into markets north east and west, the mall is to be called The Gateway, and will accommodate around 80 tenants, including of course 3,500m2 worth of Pick n Pay.
Comment: Africa is retail’s last frontier, and our big boys are waggoning out in commendable droves, before the internationals pull in with their iron horses.