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China Square has dismissed reports of occupying the Lake Basin Development Authority(LBDA) mall as an anchor tenant in Mamboleo, Kisumu City, as “unfounded and false.”
In a statement on Monday, the outlet says any plans for expansion or new ventures will be communicated through its official channels.
“While China Square is indeed interested in expanding our presence and exploring potential opportunities in various regions, including Kisumu, we have not yet visited this beautiful city. Any claims stating that we are currently taking steps to occupy or acquire the LBDA mall are completely unfounded and false, ” China Square said in a statement.
This comes barely a week after LBDA announced having talks with China Square to set up shop in Kisumu.
Speaking at a press conference in Kisumu on Wednesday, LBDA Managing Director Wycliffe Ochiaga said the Authority is optimistic about attracting huge human traffic should the negotiations see the light of day.
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Ochiaga said they are keen to bring investors to the lakeside city to spur regional growth and offer locals employment opportunities.
“As we speak today, there are negotiations ongoing with China Square and this will basically act as our anchor tenant,” he said.
Since the completion of the five-story mall in 2006, the space for the anchor tenant has not been occupied following unsuccessful attempts to sign a contract with major retail chains.
Ochiaga says China Square, currently running its store at Unicity Mall in Nairobi, will take up to 50,000 square feet.
“I am convinced that if the contract is signed then a lot of traffic will be witnessed at the mall and more offices will be filled,” he said.
Further, he said the mall has huge business potential due to its strategic location.
He says that the mall, which is 360,000 square feet, is currently only at 47 percent occupancy.
The MD says the Authority has, over the years, welcomed government institutions into the mall, thus rekindling its prospects.
