SADC Correspondent | Oct 30, 2018 | 0
Massive boost for Angolan retail in Xyami shopping complex
Angola’s Cochan Group announced on Tuesday it has opened the largest shopping centre in Luanda, Angola.
Xyami Shopping Kilamba constitutes an investment of over US$ 60 million and the creation of 1,000 direct jobs and 1,500 indirect jobs.
The shopping complex offers a gross lettable area of 27,000 m2, 65 shops and an outdoor car park with 1,100 spaces. The investment represents Cochan Group’s commitment to retail and real estate development in Angola.
Zahara Imobiliária, a company belonging to the Zahara Group, of which Cochan is the main shareholder, is the complex developer.
This is the brand’s fifth asset, and it reinforces their leadership in the promotion and management of shopping centres and cinemas across Angola.
The CEO of Cochan Group, Mário Lourenço, stated: “Cochan is proud to be part of this ambitious and innovative investment, which will respond to the needs of the Angolan people, particularly those belonging to the demanding middle class that is emerging, and contribute to the development and modernisation of Angola.”
“Zahara Group’s activity is essential for Cochan’s strategy of positive investment in customers, employees, suppliers, partners and the communities in which it operates,” he added.
At Xyami Shopping Kilamba, shoppers will be able to find international brands such as Cortefiel, Springfield, Women’secret, Swatch and Adidas. The brands of Worten, a Portuguese leader in the areas of household appliances, consumer electronics and entertainment, and Sport Zone.
The project involved a US$ 15 million renovation of the Kero hypermarket, Kero being the largest retail chain in Angola, and includes six Cinemax movie theatres with the capacity to seat 1,000 people, the latest Dolby surround sound technology and digital imaging with 3D projection.
Cochan is one of the largest business groups in Angola. Founded in 2009 by entrepreneur Leopoldino Fragoso do Nascimento, it manages a diversified investment portfolio in the areas of agro-industry, distribution, energy, real estate, transportation and logistics.
The Zahara Group, which is 100% Angolan, is involved in various business areas such as hypermarkets (Zahara Comércio), supermarkets (Nosso Super), distribution, logistics, agriculture, services (Polida, Kuida, Protech, Muv), real estate (Xyami and Cinemax) and industry (Pangolé). It currently has 10,000 direct employees and a turnover of more than 150 billion Angolan kwanzas.