In the recent past we have witnessed an increase in the number of wealthy individuals and multinational companies investing in the real estate sector. The results have been a surge in the number of high end shopping malls across the country that are worth billions of shillings. In this article, we take a look at Crystal Rivers Mall – the Ksh 4.4 billion mall in Athi-river owned by Safaricom Pension Scheme.
Crystal Rivers Mall Project.
The Crystal Rivers Mall is a Ksh 4.4 billion mixed-use development project located in Athi-river, along the busy Nairobi – Mombasa road and sits on a 25-acre piece of land. The project comprises a commercial retail centre on a 5.7-acre piece of land with 20,000 square meters of gross lettable area.
The retail centre, which is in its final touches, will offer three levels of premium shopping in a 210,000 square feet mall with more than 100 local and international stores, including an anchor supermarket, ample parking space for up to 700 vehicles, entertainment, restaurants, offices, hospitals and conference facilities. Naivas Supermarket has already signed a deal to become the anchor supermarket, while coffee chain Java House is set to open a Ksh 50 million restaurant at the building. Other brands at the mall include Nairobi Hospital, Safaricom shop, Samsung and Tecno shops, among many others.
The project also involves a residential section with 398 three and four-bedroom apartments and condominiums. The three-bedroom apartments with two swimming pools and undercover parking are on sale for Ksh 6.5 million, the three-bedroom townhouses with a private outdoor balcony and yard space at Ksh 11 million and the four-bedroom townhouses at Ksh 12 million.
The project also involves a modern school on a 5-acre piece of land next to the mall. Some of the facilities available at the project include solar water heating, well-manicured gardens, borehole water, servants’ quarters with external access, recreation facilities, a biodigester and 24-hour CCTV security, among many others.
Owners of Crystal Rivers Mall.
The multimillion Crystal Rivers Mall project is funded by the Safaricom Staff Pension Scheme (SSPS) and is being constructed by a South African-based firm – Paragon Group. The Pension Scheme involves 5,000 members, with Richard Gitahi as secretary, Monicah Wairimu as administration & operations manager and Joseph Ogutu as Chairman.
The sales leadership of the project involves Nancy Muthoni, Valueline Agents, Gimco Sales, Crystal Valuers, Proland Sales, Advent Valuers and LM Real Estate.