SA’s African Property to build US$60M mall in Nampula’s FAINA – Mozambique

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SA’s African Property to build US$60M mall in Nampula’s FAINA – Mozambique

3:43 CAT | 28 Jul 2016

victorandchristina.blogspot.com (File photo) / A view of Faina in photograph from 2010. This is where the mall will be built

South African property development company African Property Investments is to build a US$60 million state-of-the-art shopping in Nampula, capital of the Mozambique’s northern province. The mall will host banking, restaurants, fashion shops, parking and other facilities.

Nampula city council and African Property got the ball rolling on Tuesday by signing a memorandum of understanding which also provides for the rehabilitation of the old Nampula Agro-Industrial Fair (FAINA) premises. Investors have set aside one million dollars to compensate dealers who currently trade at the market there.

Speaking at the event, city mayor [first? last name?] Amurane said that the rehabilitation of FAINA was long overdue.

“This is a big step. Now it only remains for us to begin our work and continue our fight to sustain our city and ensure the welfare of its residents,” Amurane said.

The proposed redevelopment will create over 1,500 job positions during the construction phase, a substantial boost for the municipality’s socio-economic profile.

Source: AIM