obiero wrote:watesh wrote:obiero wrote:littledove wrote:
Total assets under this period have grown to KES 61.6 Bn as at 31 March 2017 to KES 62.5 Bn as at 30 Sep 2017
Our long term debt position has decreased by over KES 2Bn, with our long term debt at KES 11.1Bn as at HY 2018
The Company's total assets grew by 2% during this period,closing at KES 62.5bn while the Net Asset Value
(NAV) per share increased to KES 69.7.
72% of the Gross Lettable Area (GLA) of @TwoRivers_KE is currently let, with 9% under negotiation. The target is to close December 2017 at 85% let
Full results link
https://view.publitas.co...nded-30-september-2017/
Bad signs..
Its just the top floors that are still empty....nothing attractive upstairs yet. The mall is huge though and it opened in an election year so uptake was bound to be slow. From my observation, foot traffic is great so far considering its targeting middle and upper class individuals
Foot traffic and purchases are two different things
From my observations, anchor tenants such as LC Waikiki and Carrefour are enjoying splending sales. Restaurants such as Burger King, The Spur, are usually packed during the weekends. Last time I was there Chicken Inn and Urban Burger were set to be open soon. Magic Planet is way bigger than what we find at The Hub and can accommodate double the number of kids. The upcoming Cinema will definitely attract more clients from around the area who otherwise have to go all the way to Garden City. Carrefour there has waaaay more clients than Game at Garden City and Carrefour The Hub. Weekdays or weekends I always find more people there than any other mall.
Upcoming projects such as the Theme Park will differentiate it from other malls if they do it well and not just focus on a kid's theme park but sth for the adults also.
So far I think its doing well in less than a year since opening despite it not being near a densely populated area such as Garden City Mall or Thika Road Mall.