The development by the Institute of Certified Public Accountants of Kenya (ICPAK) will comprise an ultra-modern 12-storey office block, shopping mall, conference facility, hotel and furnished apartments.
The project that sits on a 2.1-acre piece of land is being developed in two phases at a cost of Sh1.07 billion. Half of the amount (Sh568 million) will be provided by ICPAK while the remainder will be sourced externally.
In 2008 members of ICPAK resolved to dispose part of the institute’s land in Ruaraka to KCA University and use the proceeds to build an office park on the remaining land.
Phase one of the project, which kicked off in May last year, comprises an office block, while phase two will include furnished apartments, shopping mall, conference facility and a hotel.
“The open office blocks will have open plan office designs. This will enable flexibility in arrangement of work stations and elimination of loose cables on the floor in an effort to capture the demand for these types of offices,” said ICPAK chairman Patrick Mtange.
The office park will mainly be used for income generation and partly to accommodate the institute’s secretariat.