Traditionally, major retailers have been the anchor tenants in most malls, driving shoppers to the buildings with smaller retailers and businesses benefiting from the numbers. This has further led to the flight of small businesses, a move that has affected mall investors’ bottom line. A spot check by the Star at the Thika Road Mall(TRM) showed reduced traffic with only major activities seen at the Carrefour retail store and Safaricom shop. Mall occupancy was at a high of 82.9 per cent four years ago when the segment had few investments. “The ripple effect of reduced income is empty stalls and stores as tenants cut on their costs of operation.

Source: The Star April 29, 2021 00:56 UTC