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Comesa bank set to kick off office block construction

A building under construction in Nairobi. FILE PHOTO | NMG
A building under construction in Nairobi. FILE PHOTO | NMG 

Financier Trade and Development Bank (TDB) expects to kick off the construction of a 19-floor office block in Kilimani, Nairobi, this year.

TDB, formerly known as the Eastern and Southern African Trade and Development Bank (PTA Bank), said its technical team is currently working on production of drawings ahead of floating of the construction tender.

It has already sought regulatory approval. The bank, which is a commercial investment arm of the Common Market for Eastern and Southern Africa (Comesa) secretariat, is seeking services from professional landscapers to work with the project implementer.

TDB joins a growing list of local and multinational companies investing in the upmarket Kilimani, Upper Hill and Westlands to house operations as well as generate rental income.

According to the Environmental Impact Assessment report filed with the National Environment Management Authority (Nema), the building will house conferencing facilities for in-house use and office space for hire, coffee shop and restaurant, retail units and two sky gardens on the 3rd and 11th floors.

TDB has pledged to prioritise sectors such as infrastructure, manufacturing, industry and agribusiness over the next five years.

Upper Hill is a key commercial district attracting developers keen on housing corporates, NGOs and State agencies seeking quieter and congestion-free environment away from the CBD.

Britam, UAP, Equity Bank #ticker:EQTY, CBA, KCB Bank #ticker:KCB, Coca -Cola and UAP are some of the firms that have offices with First Community Bank being the latest to occupy its new Sh1.3 billion 25floor headquarters within the locality.

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