Diamond Plaza set to get fresh look with new complex

Nairobi’s Little India, Diamond Plaza shopping centre, is a feast for the eyes, the stomach and the wallet.

Located at the busy Highridge intersection in Parklands, its intertwining stairwells and narrow corridors are home to colourful clothing stores, spicy restaurant fare, bootleg copies of Bollywood DVDs, and most recently a shisha lounge.

Diamond Plaza (DP), owned by the Chatur Group, started as a single complex that has over the years expanded.

While it has degenerated over the years, it is the anchor of an area which is witnessing a substantial real estate interest.

Though Diamond Plaza does not face major competition from the neighbouring Highridge shopping centre, Pop plaza or Nakumatt Highridge, the investors are looking to enhance the property with the construction of a 15 floor mall on Masari Road, right across from the original complex.

“This new building is our Creme de la Creme and our Dream Project. It is currently called, “Diamond Plaza Parking Silo’’ and has 15 floors,” explained Mr Rahim Jiwani, Marketing Manager at Leo Investments, a sub-company under Chatur Group.

With a retail space of 60,000 square feet in the basement, and 50,000 square feet on the lower ground and ground floor levels, the Chatur Group is eyeing the high worth consumer traffic that currently plies Westgate and Sarit Centre in the neighbouring suburb, said Mr Jiwani.

The 10th floor of the complex has been earmarked as a food court and leisure centre, possibly to include a cinema, while the 13th floor has been designated for a revolving restaurant with a seating capacity of 200 people.

The project also includes a 1,000 space car park silo which spreads from the 1st to the 9th floor, and promises to alleviate the perennial parking shortage in the congested area.

Competition

Several large commercial banks, retail outlets and fast food chains have expressed an interest in the new building, according to Mr Jiwani, and he is confident that the aggressive competition in the local retail sector will see a hypermarket take occupation of the expansive basement area.

Mr Jiwani added that banks and clothing stores which already have a foothold in the original DP building are considering opening a larger outlet in the new complex to supplement their presence.

The first 15 floors of this mega project building are to be ready for occupation by next month, and the full building is to be complete by December.

Diamond Plaza was originally, in 1990, a single building offering commercial rental space.

Boasting a food court serving a variety of food, grocery store, clothing outlets, convenience and entertainment stores it grew in popularity and today the initial building has transformed into four interconnected buildings.

Over 60 businesses are housed in the DP Annexe, DP Mini, DP Main Building, and DP Tower including banks, supermarkets, restaurants and shops.

While the retail shops occupy the first three levels of the complex, the fourth floor has seen the entry of Climb Blue Sky, East Africa’s first indoor climbing space, and Africa Yoga Centre, a social enterprise that holds yoga classes as well as train instructors.

Accommodation

In 2007, Leo Investments diversified its offerings from retail space to accommodation and set up 19 executive studio apartments and three penthouses on the sixth and seventh floors. The apartments offer an unrivalled view of the Nairobi skyline.

It costs Sh60,000 to rent a single studio apartment per month to Sh125,000 for the two bedroom penthouse. The apartments have recently undergone renovations to appeal to business clientele, said the manager of the apartments, Ms Nasim Rajan.

The apartments also attract the patronage of foreign visitors, including medical tourists who frequent the nearby Aga Khan University Hospital.

The new complex adds to the Chatur Group’s property portfolio which includes the Ngara Shopping Complex, Thigiri Ridge Shopping Centre, and residential properties such as Langata Paradise Apartments and Nyari Estate Guest House.

It is being constructed by the 45-year old Parbat Siyani Construction Company which has handled some of the country’s larger projects including the refurbishment of Jubilee House and Jubilee Place in Nairobi’s city Centre.