The airport's runway will be expanded from the current 1.5 km to 4 km.
Several skyscrapers are currently under construction or in planning stages across the city.
Developers are now shifting their focus to the low cost housing market segment.
The facility will be located about 100 metres from Garden City Mall.
The project will involve construction of 560 apartments on 14 blocks at Clay Works.
The New Kisii City seeks to address the region's housing shortage.
Investors are rolling out dozens of projects targeting middle income and lower income earners.
The contractor is finalising the erection of wall barriers along the bypass adjacent to Kibera.
Companies heavily invest in prefab houses for low and middle-income Kenyans.
The building will be taller than the recently completed 163-metres-high UAP Tower.