Construction on Cameroon’s first destination retail & leisure mall, dubbed the “Douala Grand Mall & Business Park” is currently underway, local news reports said on Friday.
The Douala Grand Mall, to build by Leading growth markets investor, Actis in partnership with Genesis Group, will comprise 18,000 square metres of retail and leisure space, close to Bonapriso in Cameroon’s largest city. T he mall will include multiple restaurants, a children’s play zone, a five screen cinema, a supermarket and retail shops. The Mall is Phase 1 of the development which also includes a business park hosting a hotel and corporate offices spaces.
According to Amanda Jean-Baptiste, Partner, Head of West Africa, Real Estate at Actis, “Actis is thrilled to reach this key milestone in delivering Cameroon’s first destination retail mall; anchored by two flagship brands seeking to benefit from the growing consumer power. The Mall will make a significant contribution to job creation and other economic indicators in the Cameroonian economy,”.
The project is expected to create over 4,500 jobs using local material and labour and has been granted tax incentives following a convention signed with the Government of the Republic of Cameroon. Actis has a strong presence across Francophone Africa including energy, education and healthcare businesses.