Saudi Arabia-based Adwaa Alkhalil Development Construction (AAC) is investing Sh700 million in a 13-storey residential tower in the upmarket real estate and commercial hub of Kilimani, Nairobi.
Official disclosures show indicate AAC plans to put up the Grand Premiere’ Apartments on a half-acre plot. It will house 152 families and will consist of four three-bedroom penthouses, 100 two-bedroom units and 48 one-bedroom flats.
Kilimani is a popular location for expatriates with most developments focusing on serviced apartments and multi-storied family units found to annually have up to 13 per cent return on investment.
AAC is a general contracting, construction management, engineering consulting firm that provides services to a broad range of commercial and industrial clients throughout Africa and the Middle East.
To preserve space for greenery, a playground and a jogging track, the property’s planners will invest in a two-floor basement parking area that will also house a store, pump room as well as an underground water tank.
An environment impact assessment study on the property said it would improve land use while creating wealth for the project’s proponents as well as revenue for the national and county governments.
“Built environment experts, construction material dealers as well as transporters will benefit with skilled and unskilled labourers getting jobs at the project site located along Argwings Kodhek Road near Valley Arcade,” said the study submitted to the National Environment Management Authority (Nema) seeking a nod to commence construction.
The Nema has since invited public views on the project, saying anyone with objection should file a written objection within the next 30 days.
The public comments, the State agency says, would help to make a decision on whether to approve or reject the proposed development.