ENL plans to build a mall in Zambia

10 years, 3 months ago - September 05, 2011
The 25,000 square-meter project will be developed in Lusaka, Zambia’s capital

ENL Property, a unit of Mauritian company ENL Land Ltd. (SAVA), plans to build an $80 million shopping mall in Zambia as it expands in sub-Saharan Africa, Chief Executive Officer Gilbert Espitalier-Noel said.

The 25,000 square-meter (269,000 square-foot) project will be developed in Lusaka, Zambia’s capital, with South Africa’s Atterbury Investment Holdings, Espitalier-Noel told reporters today in Ebene, south of the capital, Port Louis.

ENL Property’s current developments total 20 billion rupees ($711.7 million), including residential projects and shopping malls. ENL and Atterbury’s first project is the 3.5 billion- rupeeMall of Mauritius at Bagatelle, a 42,000 square-meter development due to open on Sept. 29, it said.

The Zambian project is a stepping stone in Africa and part of the company’s “logical expansion” as it prospects other sub-Saharan countries such as Tanzania and Mozambique, Espitalier-Noel said.

Text by Bloomberg

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