04 Sep 2019
The second part of the Novare Twin Palms mall in Zambia is now open for business, South Africa-based private equity group Novare Equity Partners said on Wednesday, engineeringnews.go.za reports.
Twin Palms, which can be found in Lusaka’s Salama Park, boasts a total of 12000m2 in retail space and is home to 40 commercial retail outlets.
According to Novare, the mall’s development had been finalised by the set date and did not exceed the $22.8-billion budget.
It was also revealed that during the construction period, three-hundred people were hired.
Novare also explained that its properties were dedicated to the increasing demand for a modern and innovative shopping and office environment in African markets, which lag behind the rest of the world’s commercial real estate facilities.
Novare also holds the Excellence in Design for Greater Efficiencies certification, known as a green building rating system dedicated towards new residential and commercial buildings in emerging markets.
One of Novare’s projects is the building of the Standard Chartered Bank head office, which is also situated in Lusaka. Construction for the bank first began in July and is scheduled to be finalise in 2020.