The 55-acre project is expected to be completed in about four years.
Burj Zanzibar in Fumba Town is designed to reach 96 metres in height.
The proposed skyscraper will be built at a cost of $5 billion.
Niraj Shah and his family have lived in the house for decades.
The winner will be awarded a cash prize of Sh100,000.
Developers to pay Sh10,000 to Sh40m for environmental audits.
The owners have failed to meet loan restructuring measures.
Century-old estate will be upgraded into 1,870 modern units.
EPS building technology slashes costs by up to 30%.
Over 600 buildings have been declared unfit for occupation.