Shopping Malls for Keetmans, Omuthiya

OLD Mutual Namibia is planning to develop a number of shopping complexes in Namibia with a reported construction cost of around N$250 million.

Speaking on condition of anonymity, a source inside one of the architecture firms which was approached by Old Mutual Namibia to submit an expression of interest for the project said that the insurance and investment firm was planning on developing three shopping complexes in Namibia with a total cost of N$248 million. According to the source, Old Mutual Namibia has put the construction cost of each shopping complex at N$68 million.The source said that Windhoek and Keetmanshoop had been identified as locations for two of the three complexes, but did not know the planned location for the third complex.Old Mutual’s Quinton Potgieter confirmed that the insurance and investment service provider was busy with the planning process for the development of shopping complexes, but denied that Windhoek was one of the locations.’We have acquired land in Keetmanshoop and Omuthiya for the development of shopping complexes, but Old Mutual is not involved in any such development in Windhoek,’ Potgieter said.Potgieter said that Old Mutual Namibia placed an advert in local media approximately a month ago to gauge interest in the development from local businesses who would be looking to rent space in one of the shopping complexes.’We are busy collecting the information, and once we have this a decision will be made on the developments,’ Potgieter said. He added that Old Mutual Namibia would only be looking to employ Namibian companies in the construction of the shopping complexes, saying that this would be the case for all contractors right down to the plumbing and fitting works.