Real estate firm Lordship Africa Tuesday unveiled an ambitious a Sh5 billion residential apartment project in Nairobi's Upper Hill district.
Christened 88 Nairobi Condominium, the building will be the tallest residential apartment in Sub Sahara Africa, sitting at 44 floors on a two-acre piece of land along Fourth Ngong Avenue in Upper Hill.
Jonathan Jackson, founder of Lordship Africa and Lordship Europe, said that the project was motivated by the need to provider housing to executives who work in the upscale Upper Hill district.
“Upper Hill currently doesn't have executive residential apartments despite the near 40000 VIPs who work in this area. The building will enable them them to drive for short distances to work, or even walk,” said Jackson.
The building is designed to five-star hotel standards, and aligned with World Bank and European Union safety requirements.
The building is expected to have a 12000 square feet of rental space and an additional 16000 square feet of lush gardens space.
Among the amenities to be provided include, a restaurant, a convenience store, gym and spa facilities and a heated indoor swimming pool and a 435-size parking space.
The executive units will be fully-furnished by Turkish interior designers.
Security provided around and within the building will be of UN standards.
The units are subdivided into three categories, executive, executive plus and penthouses.
One bedroom and two bedroom units are expected to sell at the current market rate of Sh11 million and Sh35 million respectively.
The project will be financed through equity, debts and sales of spaces.
Eastern Europe projects
Lordship Africa has conducted other major projects in Eastern Europe such as Prague in Czech Republic, housing among other tenants the European Union and the World Bank.
Lordship Africa is mainly targeting emerging markets in its real estate projects.
Design of the structure is already ongoing while construction is expected to kick off in April this year.
The project is expected to be complete by mid-2020.