The project has been facing criticism from citizens who view it as a waste of money.
Hass Towers in Upper Hill will consist of a 5-star Hilton hotel and a 300 metres high office block.
Prefab technology allows faster construction of buildings.
Africa is undertaking key projects to support its rising population.
The project is expected to cost Sh210 billion.
Africa Integras will build and operate the 10,000-capacity hostel for 20 years.
This follows the completion of phase one of the Two Rivers Mall.
The mall is set on a 4.5-acre piece of land in the Rosslyn suburb on Limuru Road.
The project involves resurfacing Rironi to Mai Mahiu-Naivasha Road.
The elevated highway will be subject to toll charges of up to Sh1,000.
Aisha Jumwa was appointed KRB chair on January 17 for a three-year term.
A developer has begun construction on the disputed land.
The new land rates took effect on January 1, 2025.