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Homereal estatesThe Owners Of The Kes2.6 Billion Buffalo Mall In Naivasha

The Owners Of The Kes2.6 Billion Buffalo Mall In Naivasha

Buffalo Mall is located along the busy Nairobi – Nakuru highway and ranks among the largest such establishment in the country. The 85,000 square feet mall opened its doors to the public in February 2015. It has over 25 stores-occupied by both local and international brands

In this article, WoK brings you the ownership of Buffalo Mall whose worth has been put at Ksh2.6 billion by constructionkenya. 

Buffalo Mall Naivasha

The popular Buffalo Mall is located in Naivasha and serves as a stop over for motorists using the Nairobi – Nakuru highway. Some of the popular brands available at the mall include Java, Foodplus, Optica, Healthy U, City walk, Goodlife, Bata, Craydon fashions, Wine gallery, Rift Valley Spur, HF Group, Quip bank, Bliss Spa, Just Fresh, Flower shop and Pazuri Furnitures among many others.

The mall offers different amenities including baby changing rooms, clean washrooms and the toilets for disabled people. It also offers free, safe and ample parking for individuals visiting the mall.

The mall is open on Mondays to Saturdays from 9.30am to 9.30pm and on Sundays from 10.00am to 9.00pm.

Also Read: The Owners Of The Ksh2 billion Imaara Mall

Buffalo Mall owner and Investors

Buffalo Mall which sits on a 45 acres piece of land was owned by the great grandson of tycoon Lord Delamere, the late Tom Cholmondeley.

For the first phase, Mr. Cholmondeley partnered with British firm Lloyd Capital Partners (LCP) to develop 22,000 square meters of retail space with the firm owning 75 percent stake in the project and the Delamare family the remaining 15 percent. The first phase cost Ksh 715 million.

The second phase of the project will involve more shopping malls, restaurants, apartments, leisure places, office spaces, warehouses, fuel stations and hotel complexes.

A South African firm, Delta Africa Property Holdings, purchased 45.5 percent stake of the mall at Ksh 418 million in 2015.

In April 2016, Grit Real Estate Income Group, a multinational Mauritius based company listed in the London Stock Exchange (LSE) acquired a 50 percent stake of the mall at a total cost of Ksh 450 million.

In 2018, the mall made Ksh271 million loss prompting the Mauritius based company to toy with the idea of selling its stake. 

This idea seems to have been shelved as the mall is still listed on Grit’s website as part of their acquisition.