Kilifi Governor Gideon Mung'aro on Tuesday, June 27, officiated the launch of the mega Ksh500 million Festival Mall in Malindi town.
In a statement, the governor revealed that the project is expected to serve as a catalyst for economic growth providing countless opportunities for local businesses to thrive.
He added that the project would attract both local and foreign visitors owing to its close proximity to the Malindi Airport. In a bid to spur economic growth, the project is projected to create 250 employment opportunities for the youth in the county.
"One of the steps taken towards economic recovery and boosting tourism is to provide a conducive environment for investors to contribute towards the county.
"On Tuesday, June 27, I launched Malindi Festival Mall, which is located next to Malindi Airport. The project will also create employment opportunities," he stated.
While addressing the funds poured into the behemoth structure, a county official divulged that the mall gobbled up northwards of Ksh535 million, Ksh135 million above the initial Ksh400 million plan.
He noted that one of the financiers contributed Ksh113 million while Festival Group of Companies pumped in Ksh422 million.
"We were expecting it to cost around Ksh400 million but it shot up to around Ksh535 million. When we were looking for investments, one of our financiers pumped Ksh113 million. This was, however, 22 per cent. The rest was financed by a local investor, Festival Group of Companies," he indicated.
The business hub has a designated eatery section, a fuel section, a repairs section, a supermarket and a hospital.
The two-storey behemoth also boasts ample parking and its exterior eradiates a mix of shiny silver, buff-brown, and walnut brown finishing.
Owing to the various amenities, the mall will not only satisfy the ever-evolving desires of residents but will also become a social gathering venue for Malindi residents.
The mall offers premium office spaces, convenience stores, retail shops as well as a restaurant. Further, the newly built mall provides a wide variety of features including 24/7 security, high-speed internet access throughout the building as well as affordable utilities and rent.
Wilfred Lai, the lead pastor of Jesus Celebration Centre (JCC) Mombasa and general overseer of JCC churches worldwide, envisioned that the mall would elevate Malindi's economic status and boost tourism.
"This is a landmark. It's a great sign that the economy of Malindi is never going to be the same. With all the facilities that are here, from the petrol station, hospital and other amenities. Malindi residents will be elevated to the next level," Lai stated.
"The input is going to be great because we will create 250 job opportunities. As a result, we will impact the economy," he added.
