2015-12-31-莱坊-Shop_Africa_2016_7页_2mb

Summary of SHOP AFRICA 2016 Research on Retail Shopping Centre Development Trends in Sub-Saharan Africa

The report highlights Sub-Saharan Africa's retail sector as a key area for development, driven by demographics, economic growth, and urbanization.

Population growth is substantial, with over 1.1 billion people currently and projected to reach 2 billion by 2040. Urbanization is accelerating, with cities like Lagos and Kinshasa expanding rapidly, increasing retail demand.

Consumer trends favor modern shopping malls, especially in economies with growing middle classes and sophisticated retail preferences. Africa's large population, young demographics, and rising income levels fuel this demand for upscale shopping experiences, leisure facilities, and international brands.

Cities like Nairobi lead in shopping centre development with significant existing space (470,000 sq m) and a large pipeline (470,000 sq m). Other key hotspots include Lagos, Accra, Dar es Salaam, and Luanda, each with substantial existing and planned shopping centre space.

Development pipelines are extensive, indicating continued growth. Projects are spreading to second-tier cities, leveraging first-mover advantages. Factors driving this include demographic shifts, consumer behavior changes, and investment from both local and international developers and retailers.

Markets remain underserved, particularly compared to global standards. Opportunities arise as retail spaces increase, attracting developers and retailers such as Actis, Jabi Lake Mall, and Carrefour. The outlook is positive, with development set to continue supporting urbanization, economic growth, and the overall transformation of African cities. Challenges include sourcing partners and managing volatility in currency markets.