Welcome to Novare Great North
A dynamic development by Novare Real Estate Africa
Lusaka, the capital city of Zambia, is a thriving metropolis. Interest from both government and foreign investors has seen the city enjoy significant growth in recent years. It’s an exciting place to be at the moment and this is where Novare Real Estate Africa saw an important opportunity to expand their portfolio in sub-Saharan Africa.
The new Novare Great North mall is ideally located along the Great North Road, giving it a prime position as being the first mall on the way into Lusaka from the north and the last mall on the way out of the city towards the historic Copperbelt region. Furthermore, this modern new mall is in the close vicinity of the famous Heroes Stadium, home of the Zambia national football team.
Geared for growth
While the Zambian economy has enjoyed steady GDP growth in recent years the growth is predicted to decline as a result of pressure on commodity prices, particularly copper which accounts for 60% of all exports.
Zambia is one of the most densely urbanised countries in sub-Saharan Africa with 50% of the country’s 11.5 million concentrated in cities.
Interestingly, a recent census indicates that Zambia’s population grew at a rate of 2.85% per annum, while the capital city Lusaka’s population grew at a rate of 4.7%. The number of households residing in the greater Lusaka area has grown at about 4% per annum and the household size has grown from an average 4.5 persons per household to 4.9 persons per household.