Commercial Projects
Moi University Builds 26-Storey Tower in Eldoret
The twin-tower will provide 50,000 sq. m. of space out of which 30,000 will be sold.
A spectacular change is in store for Eldoret as work continues on a building that is set to unseat the 14-storey Kerio Valley Development Authority building as the town’s tallest tower.
The 26-storey Moi University Pension Scheme Plaza, which is owned by the university’s staff pension scheme, is being built on Uganda Road next to Imperial Bank for Sh2.4 billion.
On completion in January next year, the twin tower will provide 50,000 square metres of space out of which 30,000 will be sold to the public.
“We are going to sell the complex so that the money we get from the sale can benefit members of the scheme upon retirement. We don’t want our members to retire and go home without anything,” said Prof Cheptuk Rotuch, the chairman of the project.
The construction of the tower, which is currently on the 18th floor, is being undertaken by EPCO Builders Ltd.
“It will be a one-stop complex for all kinds of businesses and offices,” says Charles Nyamieno, the scheme manager, adding that the building would alleviate the office shortage in Eldoret.
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The building will have a parking space for more than 400 cars in its three basement and two mezzanine parking levels.
Eldoret is experiencing unprecedented real estate growth, largely due to its growing population of elite athletes and proximity to the food basket regions that provide ready resources for expanding companies.
This has seen land values rising by huge margins as speculators seek to ride on the town’s economic success.
A 50m-by-100m plot within Eldoret’s central business district whose asking price was Sh15 million five years ago is now selling at about Sh100 million.
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