Growth markets investor Actis and Genesis Group will bring the first premier cinema to Douala, Cameroon at the Douala Grand Mall, a retail-led, mixed-use development near Bonapriso in Cameroon’s largest city.
“It is fantastic to be able to attract regional brands into Cameroon, we are encouraged by the interest already received from retailers and restaurateurs seeking to take up space in the mall, keen to benefit from the growing consumer power,” said Amanda Jean-Baptiste, Partner, Head of West Africa, Real Estate at Actis.
The five-screen cinema and a supermarket will anchor the Douala Grand Mall which is developed by Actis and local partner Craft Development. The mall, 18, 000 square meters of retail and leisure space includes a business park that will host a five-star hotel and corporate office spaces.
Genesis Group has been a leading player in the hospitality and entertainment sector in Nigeria with cinemas in major cities in the country.
Dr. Nnaeto Orazulike, GMD of Genesis Group noted, “A West African expansion represents a brilliant opportunity for us particularly with a partner like Actis.”
Founded in 2004, Actis invests across Africa, Asia and Latin America delivering consistent, competitive returns, responsibly, through insights gained from trusted relationships, local knowledge, and deep sector expertise.
Its $250 million Garden City project recently won Africa Property Investment’s Best Green Building in sub-Saharan Africa for its retail and residential spaces.
Garden City, located in Nairobi, Kenya is East Africa’s first integrated residential, retail and office development.