Property developer and investor Atterbury has completed the first-phase development of its $20m Pemba Shopping in Mozambique’s port city of Pemba, the capital city of the Cabo Delgado province.
Atterbury has shifted its focus from developing in SA to developing in the rest of Africa and abroad.
Stanlib property analyst Lawrence Koikoi said the property sector’s expansion offshore was driven by a lack of opportunities in SA because of a low-growth environment.
Pemba Shopping, an 8,000m² centre, is a joint venture between Atterbury and TradeHold Africa. The shopping centre was officially opened to the public on June 29.
It is one of three shopping centres that Atterbury is delivering in Africa in 2017. It developed the 18,500m² Kumasi City Mall for its owners, Delico Kumasi, which opened in Ghana in April. In partnership with Tradehold, Atterbury is also developing the 27,000m² Dunes Mall in Walvis Bay, Namibia, scheduled to open in October.
Pemba Shopping is anchored by a 3,500m² Shoprite supermarket, the first of its kind in the city. OK Furniture and Pep are also in the centre.
In addition, it features more than 4,000m² of retail space in about 20 stores, incorporating a food court to be opened in the near future. The potential of a filling station will add even more convenience to the centre.
Designed by architects Aevitas Group, the mall has 250 parking bays, security and guaranteed 24/7 power.
“The city of Pemba has enormous economic potential and we are proud to invest in its future with this key development. Doing business in Mozambique, and in Pemba specifically, has been an immensely positive experience,” Cobus van Heerden, of Atterbury Property Development, said.
Atterbury Asset Management will manage Pemba Shopping, which is more than 60% let.