Broll anticipates prospect in shopping malls

Broll Ghana Limited, a property services company, says it is optimistic with the prospect of investment in development of retail shopping malls in the country, as it aims at bringing convenience to shoppers.

The company anticipates growing its businessportfolio to about 250,000 square metres from the current 75,000 square metres of retail space within the next 36 months with the resultant effect of growing the economy, creating employment and generating revenue among others.

Moses Luri, Head, Retail Leasing, Broll Ghana, said this while touring some of the company’s facilities to afford the media opportunity to have a first-hand experience and better insight into the activities of its properties and service. 

Mr. Luri said prospects for development of the country’s retail shopping malls looks good.

“There are a number of international retailers that are looking at this market, and there’s a lot more investment in retail development as this means a lot for the economy; employment creation, revenue generation, as well as convenience for the shoppers.

“We looking forward to more business; if you look at the various retail projects that have been earmarked for Ghana within the next 36 months we’re looking at approximately 250,000 square metres of retail space, and for us that’s a good sign that there’s potentially some business regarding retail business,” he said.

Presently, Broll’s commercial property portfolio comprises the Accra Mall, World Trade Centre, Ridge Tower, Accra Shippers House and Heritage Tower, Marina Mall among others; with the average occupancy rate of the entire portfolio at about 95 percent.

Broll Ghana recently announced that it has secured the management of two new Retail facilities: namely the 27,000sqm West Hills Mall and the 15,000sqm Junction Shopping Mall, bringing its property management portfolio to over US$500million and cementing its leadership in the provision of property-related services in the country.

West Hills Mall (WHM) is the largest single-phase modern shopping centre, a facility that has attracted top retail tenants such as Shoprite, The Palace, Edgars, Jet, Truworths, Identity, Foschini and Woolworths.

WHM is owned by Delico Investment Properties Ghana Limited and Social Security and National Insurance Trust of Ghana (SSNIT).

The Junction Shopping Mall developed by RMB/Westport from South Africa is a neighborhood mall located near the Maritine Academy, Tema, servicing the over-400,000 inhabitants in the primary catchment area.

Some of the key tenants are Shoprite, Jets, Mr. Price, Nike, Swatch, Lord of the Wings, Levi’s and TM Lewin.

Mr. Luri explained that the company’s drive is to make retail much more convenient for the public: “We have realised that people prefer to shop close to where they live or work, the fact that shopping centres are now getting close to where they work or live rides on the issue of convenience for the shopper,” he said.

Tony Sekyere, Head Property Management, indicated that the growth of Broll is a manifestation of the company’s investment in human capital, boasting an annual rent roll in excess of US$7,000,000.

The company directly employs more than 96 people and indirectly employs several hundred through the various service providers. It has over the years embarked on several social intervention programmes.

Broll Ghana for the past four years has also been adjudged the best property/facilities management company.

It offers the full spectrum of property-related services including commercial broking, valuations/advisory, retail broking and consulting, corporate real estate services, facilities management, property management, shopping centre management, residential estate management and market research.

Broll Ghana is part of the CBRE Affiliate Network and its systems and procedures are benchmarked against the ISO9001:2008 standard -- an internationally recognised and respected standard by investors.