An Illustration of Garden City Mall. Photo/Courtesy
Property manager Knight Frank has already let out more than two-thirds of the upcoming Garden City real estate development on Thika Road even before groundbreaking of the project has taken place.
The development was initially supposed to start in December with completion targeted for May 2014.
“We are currently at 70 per cent on gross leasable area on a pre-let schedule,” said Mr James Muriu, the retail portfolio manager at Knight Frank in an interview.
Mr Muriu said the residential segment will be developed as part of the first phase while commercial office towers will be developed in the second.
The development is being undertaken on a 32-acre piece of land that was bought from East African Breweries by London-based private equity fund Actis for an undisclosed amount.
The land borders key institutions such as the General Service Unit headquarters, Moi International Sports Centre, and Kenya School of Monetary Studies.
