This archive report was first published on 25 June 2021.
Fusion Capital Limited has secured over Sh800 Million (approximately USD 8 Million) in funding to complete the construction of Greenwood City Mall in Meru County, Kenya.
Initially, the company had structured the financing of the mall as a Development Real Estate Investment Trust (D-Reit), but the shareholders of Meru Greenwood Park opted for private funding instead.
Speaking at a press conference, Fusion Group's Chief Executive, Daniel Kamau, highlighted the mall's strategic location and potential for success, stating, “We have a first-mover advantage in Meru and hence the decision to proceed with the circa 12,000 sqm shopping mall which we believe is going to be a destination mall for the towns surrounding Meru and for the Mt. Kenya East region.”
Meru County Government's Chief Executive for Trade, Investment, Industrialization, Tourism, and Cooperatives, Maingi Mugambi, emphasized the importance of tapping into opportunities available in counties to achieve equitable growth across the country.
Meru Greenwood City Mall is a mixed-use development complex offering retail spaces, banking halls, eateries, play spaces, and office spaces, strategically located at the edge of Meru Town.
With a population of over 1.5 million people, Meru County is an attractive business hub in the Mount Kenya region, and the mall is expected to be a major destination for the region.
