City Lodge Hotel Group, which owns Fairview Hotel, has acquired land for the hotel on a 99-year lease basis and will design, develop and operate the facility that is due for completion in October 2016.
“This will be the first time that we are developing a green-field hotel in the region, also illustrating our optimism about the prospects for the Two Rivers development and the high profile status and draw-card potential it will have in Nairobi,” said the firm’s chief executive Clifford Ross.
The Two Rivers mall is part of a Sh17 billion mixed-use real estate development that is being undertaken by Centum on a parcel of land that was acquired from the Koinange family in a transaction estimated to be at least Sh1 billion.
The Two Rivers development, once completed, will comprise 850 000 square metres of medium density residential homes, a five-star hotel, office blocks and a shopping centre.
Runda has recently attracted deep-pocketed investors seeking to establish high-end hotels and restaurants catering for business travellers.
Former attorney-general Charles Njonjo is reportedly planning to build a Sh1 billion hotel and retail centre in Runda. The proposed facility, which will be adjacent to Mae Ridge homes, will include a 200-bed hotel, a retail centre and an office block.
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