NSSF Plans Iconic Complex on Nairobi High-Drama Plot

The National Social Security Fund (NSSF) is moving ahead with plans to build a multi-billion-shilling complex on its 3.85-acre plot at the busy corner of Uhuru Highway and Kenyatta Avenue in Nairobi.

The prime piece of land, which has been vacant for decades, has been at the centre of various political intrigues and private sector interests over the years.

According to the NSSF’s managing trustee and chief executive, David Koross, the project will follow an engineering, procurement, construction, and finance (EPC+F) model. 

This means that contractors will manage the project from start to finish, handling everything from design and construction to arranging the necessary financing in partnership with financial institutions.

“The project location at the corner of Uhuru Highway and Kenyatta Avenue and the plot size offers the procuring entity and the EPC+F partner the opportunity to undertake an iconic development that would be a landmark for Nairobi City’s Central Business District,” said the NSSF in a bid call. 

The project is expected to be a mixed-use development, which could include residential, commercial (offices, retail, and conferencing), hospitality, and other specialised uses.

Mr Koross emphasised that this project is part of a broader strategy by NSSF to unlock the value of its underutilised assets. With investments amounting to Sh400 billion as of August 2024, NSSF is focusing on the potential of such idle lands to maximise returns. 

“In line with our objectives, we have identified perennially underperforming assets that are due for development with a view to unlock their highest potential and returns,” the CEO stated.

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Despite its prime location, the land is mostly vacant, with only a temporary car park. Several private companies have attempted to purchase it, but the deals have been dogged by controversy.

In 2016, billionaire Indian businessman Mukesh Ambani fought in court with the Kenya Revenue Authority (KRA) after a deal to purchase the land for Sh1.3 billion went sour.

Ambani had planned to build a 21-storey hotel on the plot opposite Nairobi’s Laico Regency Hotel but withdrew after it was revealed that the land size was smaller than indicated in the title deed. Ambani later shifted his plans to Westlands, where he developed Delta House.

Historically, the NSSF land has had a colourful past. In the 1970s, it was owned by the central government and initially intended to be allocated to the now-defunct East African Airways for the development of terminal facilities and a hotel. 

However, in 1971, this project was shelved because the airline company began to suffer financially, and until now, that area of land is nearly unutilised.

Over time, the land has been associated with various private investors, including the Kenya Tourist Development Corporation, and Holiday Inn of Japan’s Chori among others that were supported in the proposal for hotel development in the area. 

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