Pylos Mozambique, a subsidiary of the Belgian real estate developer Pylos, initiated its operations in Mozambique in July 2013 with offices in the Mozambican capital Maputo. It plans to develop 15 strip malls throughout the country in the coming 5 years.
The strategy of Pylos Mozambique focuses on the development of the provinces as its first investment destination, having initiated on September 1st the construction of its first strip mall in the city of Tete, in the neighbourhood of Chingodzi.
"We believe that by constructing 15 strip malls across the country, we will bring growth to all the provinces, contributing to the economic and social development of Mozambique by creating new business and job opportunities for the Mozambicans", states Jacky d´Almeida, Operations Director of Pylos Mozambique.
The construction of the second strip mall will start later this year in the province of Nampula which will be followed, also in 2014, by a third unit in the province of Inhambane.
"Pylos has defined an investment strategy using own equity, which will give us more flexibility in decision making and more agility in the realization of the investments. The total investment of the strip mall strategy is estimated to be more than 150 million USD. Our objective is aspirational and we believe in the success of this project because we believe in the success of Mozambique", states José Carlos Pinheiro, CEO of Pylos Mozambique.
Jacky d´Almeida adds that "the strip malls of Pylos are targeted towards the wider Mozambican public and intend to meet the demand for formal retail structures, offering quality products at accessible prices. The stores which will open in the malls are widely known and will fulfil the market requirements. We know that we will become the new center of the cities where we will be present."
"The objective of Pylos is to add value and quality to the retail market in Mozambique and make our strip mall brand recognized countrywide. Our business is the development of retail centers, our mission is to really do it and not only say we will do it, and our inspiration is to become the reference for all those, who like us, believe and invest in Mozambique", concludes José Carlos Pinheiro
About Pylos Mozambique
Pylos Mozambique is a subsididary of the Belgian group Pylos, a real estate developer active in 3 continents. The group has already delivered and sold projects with a total gross sales value of more than 800 million USD in Belgium, Luxembourg, France and Brazil and has over 1 billion USD of projects in the pipeline, including the projects under development in Mozambique. Pylos Mozambique is the first investment of the group on the African continent and will be followed by the opening of Pylos Zambia in October this year. The strategy of the Pylos Group is based on adapting its investment strategy to the particularities of each market it is active in, developing profitable projects which contribute to the development of the countries it is active in.
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