Market News

Firm eyes tourists with Sh1bn Nairobi apartments


Residential apartments in Upper Hill, Nairobi. FILE PHOTO | NMG

Mifta Holdings Ltd is set to launch construction of Sh1 billion serviced apartments in Kilimani, Nairobi, September targeting expatriates and travellers.

The 15-storey Nine Oak, which covers 14,000 square metres, is on Wood Avenue and is accessible from Argwings Kodhek Road and Chania Avenue next to Adlaf Plaza.

“Kilimani has perfect proximity to the working districts of the Upper Hill and the CBD while still maintaining its status as a residential suburb with all the shopping, educational, medical and entertainment facilities available,” said Mifta managing director Abdisalam Abdullahi.

The apartments offer a combination of studios, one and two-bed apartments spread on 0.375-acre plot and include amenities such as swimming pool, sauna and restaurant.

They will target tourists and multinational workers visiting Kenya for short durations of between three to six months.

READ: Nairobi apartment rents fall 3.3pc on high supply

“We are targeting tourists and expatriates who have relocated into the country and are looking for flexible accommodation, which offers a home-away-from-home experience for the duration of their stay,” he said.

The entry of Nine Oak in the Nairobi suburb will see the number of newly built serviced apartments rise, with Ole Dume Road near Adams Arcade having the highest concentration of developments.

Most feature gyms, swimming pools, restaurants, sauna and spa, conference rooms and bars.