BOWMAN GILFILLAN AFRICA GROUP’S KENYAN OFFICE ADVISED OLD MUTUAL ON TWO RIVERS MALL TRANSACTION
Bowman Gilfillan Africa Group’s Kenyan office recently advised Old Mutual Property on all legal aspects of their investment in the Two Rivers Mall, including due diligence, transaction structure, negotiations with the counterparties and all regulatory matters. UK-based Old Mutual invested KES 6.4 billion in the holding company of Centum’s Two Rivers Mall, giving it an equivalent 50% stake in the firm.
Alex Njage, partner and head of the firm’s Real Estate & Construction Practice in Kenya, notes, “Old Mutual’s investment is evidence of the confidence that investors have in the Kenyan real estate and construction market, especially in relation to commercial property. Kenya’s rising middle class is expressing a clear preference for good quality “Grade A” commercial and retail property. The demand for quality commercial and retail property is further fuelled by the rising number of international companies setting up a presence in Kenya,Read further