Commercial Projects
Dubai Firm Abcon to Build Kenya’s Tallest Tower in Nairobi
The building will be taller than the recently completed 163-metres-high UAP Tower.
A Dubai developer plans to build a Sh5.5 billion skyscraper in Nairobi, which will comfortably exceed the height of UAP Tower – currently Kenya’s tallest building.
Abcon International LLC, a construction and drugs company, is seeking regulatory approval for the construction of the towering complex that comprises a shopping mall, office block, and a hotel modelled on Singapore’s Marina Bay Sands Hotel.
The yet-to-be-named skyscraper in Nairobi’s Upper Hill district will be a notch taller than the recently completed 163-metre-high UAP Tower, which is set for occupation in June.
Abcon has joined forces with six local investors – among them Hass Consult – to form a consortium known as Greenfield Developers Ltd., which will develop the property on a 3.6 acre piece of land that it acquired in 2012 for Sh650 million.
The Dubai firm is the majority shareholder with a stake of 62.6 per cent followed by Signature Development Ltd (a Kenyan firm) at 18 per cent, Hass Consult at 8.6 per cent, with Elise Adan, the owner of Nairobi fashion company Tullia Ltd., holding a 2.6 per cent stake.
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Other shareholders include Jayesh Saini, the chairman of Clinix Healthcare – with a 0.66 per cent stake, Ilmi Investments Ltd and Bliss GVS Pharma Ltd.
“It is going to be a landmark piece of architecture, whose cost estimates could rise,” said Sakina Hassanali, head of research and marketing at Hass Consult.
The 35-storey tower will include 17 floors of luxury apartments, 22 floors of office spaces, and 1,320 parking spaces across six basements and ground floors.
The National Environmental Authority (Nema) last week declared 30 days for the public to give their views on the proposed development.
Wealthy investors are increasingly building show-stopping skyscrapers in Nairobi despite widespread fears of a looming office space glut in the Kenyan capital city.
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