Market News

Local investors build Sh800m city hostels


Qwetu marketing and communications director Magdalene Mulandi. FILE PHOTO | NMG

A group of local investors have put Sh800 million in the construction of two multi-storeyed premium hostels for 1,170 university and college students.

Qwetu marketing and communications director Magdalene Mulandi said the group will first put up a nine-floor building on Jogoo Road in Nairobi that is now 65 per cent occupied, with a capacity to accommodate 500 students.

“The second facility located on Outer Ring Road, a kilometre from Thika highway, was informed by the proximity of several tertiary institutions and universities along Thika Road giving students decent furnished studio apartments that are connected to unlimited Internet, improving the learning experience,” she said.

Qwetu sales and marketing consultant Iain Hunter said the investments were implemented to reflect global trends in hostel development where students were looking for accommodation and transport solutions as a package.

READ: Treasury eyes Sh20bn to build hostels in varsities

“We have been in touch with university authorities and are keen to partner with any learning institution to boost their student experience on matters secure and safe hostels,” he said.

The single- and double-bed studios renting for Sh22,000 and Sh15,000 monthly provide cooking facilities and own bathroom-cum-washroom.

They also give the students access to a gym, recreational area as well as a cinema room.

“We also have an open study area where students can hold their private learning or hold discussions with their colleagues. The facility answers an urgent need for custom-made hostels for students thereby enhancing their ability to achieve their goal in life-studying,” said Mr Hunter.