In line with Grit’s approach to super convenience centres located in strategic nodes outside of cosmopolitan areas, the Mall de Tete focuses on basic everyday needs in term of its fashion and retail offering, as well as services such as catering, banks, etc.
This early stage, dominant centre is anchored by two food retailers, Choppies and Shoprite. Independent market consultant Fernridge Consulting highlighted that Mall de Tete rated “Excellent” (79%) in terms of catchment area (comprising of Tete, Moatize, and all districts within a 100km radius). This rating was achieved because of increased traffic volumes past the site and the development of new residential schemes.
Valuation (as at January 2018)
*Due to change in the economic climate in Mozambique between late 2016 and early 2017, some retailers got sceptical and pulled out of already-signed LOI’s. However, there has been impressive renewed interest in the Centre, after the announced new mining explorations that would take place in Tete.