15 May 2018

Kenya: Group Plans Sh1.5 Billion Housing Scheme

A group of investors plans to inject Sh1.5 billion in five apartment blocks rising to 14 floors housing 524 families off Mombasa Road, Nairobi.

Regulatory filings by Cool Breeze Development show the firm has ready funds for the proposed project that will occupy a 2.25 acres of land approximately 200 metres behind Nextgen Mall.

The project, set to create demand for skilled and unskilled construction workers as well as direct jobs for transporters and construction material dealers, is targeting middle- and high-income earners. It will include keep-fit facilities and manicured lawns. The mixed-use development owner also plans to construct a residents-only swimming pool, a gym and changing rooms as well as gardens next to children's playground.

It will have 120 studio apartments, 240 one-bedroom apartments, 148 two-bedroom units and 16 three bedrooms.

The second basement floor has been reserved for a pump house, fuel house, store, power room as well as a vast parking bay for 237 vehicles with the upper floor accommodating parking bays for 238 motor vehicles.

"The proprietor will generate more income by making optimum use of the plot bought from NextGen Suites Limited. Nairobi County Government and the national government will access new revenue streams during implementation of the project," read the report.


The Big Fish in the Mau Land Grab

Details of how adjudication sections in the Maasai Mau Forest were irregularly increased, leading to encroachment, can… Read more »

See What Everyone is Watching

Copyright © 2018 The Nation. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.