This archive report was first published on 7 May 2020.
Published on May 7, 2020, the Lake Basin Development Authority (LBDA) mall in Kisumu has been struggling to find tenants since its completion in 2016. However, a recent development has brought a glimmer of hope to the multi-billion shilling facility.
The Kenya Revenue Authority (KRA) has relocated its offices to the mall, occupying two floors and increasing traffic to the facility by over 1,000 people daily. LBDA Chairman Odoyo Owidi hailed the move as a major breakthrough, stating that the taxman will now act as an anchor tenant.
According to Owidi, the mall's occupancy now stands at 75%, with a supermarket finalizing plans to occupy another vast space in the facility. Despite the challenges posed by the COVID-19 pandemic, the mall has continued to attract tenants, with some businesses signing deals to occupy the facility after the completion of the Kisumu-Kakamega road.
LBDA's five-floor mega-investment, measuring about 60,000 square feet, has been projected to generate about Sh230 million annually. With the latest development, the mall could be a shot in the arm for the region's economy.
