FILE PHOTO | NMG
Car General (Kenya) #ticker:CG has completed signing a lease deal for the refurbished Nairobi Mega property on Uhuru Highway, paving the way for French retailer Carrefour to open its store in June.
The automobile dealer in its half-year financial report disclosed that Carrefour will be the anchor tenant at the property that has now been fully leased.
Carrefour will be the anchor tenant and expect to open in June,” Car General said in the report.
Leasing of the property to Carrefour signals the move by the automobiles dealer to diversify its business at a time coronavirus pandemic is expected to hurt its revenues.
Car General is now betting on Carrefour’s tenancy to increase its profits at a time decline in demand and restrictions on movements to curb spread of the coronavirus have hit its poultry business in Tanzania.
