Abcon International LLC, a construction and drugs company, is seeking regulatory approval for construction of the towering complex that comprises a shopping mall, office block and a hotel modelled on Singapore’s Marina Bay Sands Hotel.
The stunning, yet-to-be-named skyscraper in Nairobi’s Upper Hill district will be a notch taller than the recently completed 163-metres-high UAP Tower, which is set for occupation from June.
The Dubai firm is the majority shareholder of the consortium with a stake of 62.6 per cent followed by Signature Development Ltd (a Kenyan firm) at 18 per cent, Hass Consult at 8.6 per cent, with Elise Adan, the owner of Nairobi-based fashion company Tullia Ltd., holding a 2.6 per cent stake.
Other shareholders include Jayesh Saini, the chairman of Clinix Healthcare – with a 0.66 per cent stake, Ilmi Investments Ltd and Bliss GVS Pharma Ltd.
“It is going to be a landmark piece of architecture, whose cost estimates could rise,” said Sakina Hassanali, head of research and marketing at Hass Consult.
The 35-storey tower will also feature luxury apartments that will occupy 17 floors – with office spaces occupying 22 floors and 1,320 parking spaces sitting on six basements and ground floors.
The National Environmental Authority (Nema) last week declared a 30-day period for the public to give their views on the proposed development.
Wealthy investors are increasingly building show-stopping skyscrapers in Nairobi despite widespread fears of a looming office-space glut in the Kenyan capital city.