Lordship Africa, a Real Estate Investment & Development Company, is set to break ground on the long-awaited 88 Nairobi Condominium Tower as it unveiled a 3D model of the tower earlier this month.
The 44-floor residential tower development is located on the corner of Bishop´s Court Road and 4th Ngong Avenue, between the upmarket residential area of Milimani and Upper Hill, Nairobi’s new master-planned business precinct where many landmark commercial developments, including the 32-floor Britam Tower is located.
According to Business Daily, Jonathan Jackson, Founder of Lordship Africa and Lordship Europe, the project is targeting over 40,000 ‘VIPs’ or executives who work in Upper Hill, where there are little or no executive residential apartments. The region is home to several multi-national corporations, blue-chip financial companies, embassies and local companies headquarters such as Standard Chartered Bank, The World Bank, Coca-Cola, City Bank and PwC among others.
This will be Lordship’s second investment in Kenya after it completed its pilot project in Karen in April, 2013.
88 Nairobi sits on a two acre site and comprises 288 ultra-modern serviced apartments. It will include 1 and 2 bedroom fully furnished executive units, 2 bedroom ‘VIP’ units, 4 bedroom duplexes and penthouse apartments with off-plan prices starting at Sh11 million (c. US$109,010) to Sh30 million (c. US$297,300). Amenities include a restaurant, convenience store, gym and spa facilities, an indoor pool as well as a 435 bay parking lot.
Lordship will raise funds for the development through equity, debt financing and income from presales of the units. Construction is expected to commence during April 2017 and project completion is expected by mid-2020.