Investment firm Cytonn now plans a Sh20 billion 35 storey mixed-use development project in the upmarket area of the capital Nairobi.Named Cytonn Towers, the project will be constructed in Kilimani area.
The tower, which is set to be among the tallest buildings in the area will have 174,139 square feet office and commercial space for rental, 180 hotel rooms, 160 serviced apartments, three-bedroom duplex apartments and penthouse suites, three basement parking floors with a capacity for 1,500 vehicles.
Cytonn’s managing partner and chief executive officer Edwin Dande said that they target the upper middle class and NGOs and embassies personnel looking for luxurious residential places.
“For mixed use development, Cytonn Towers seeks to meet the luxury housing demand, premier business office space, and hotel and conferencing facilities while at the same time offering target returns of 25 per cent per annum to our investors” said Mr Dande.
Cytonn Towers will also feature Kenya’s highest suspended restaurant, Nairobi’s largest ball room, and a double horizon fitness club.
Construction of the project expected to be among the tallest building in Kilimani area is expected to commence in 2018. Construction will be done in phases. completion is set for December of 2022.
1USD is equivalent to 103 Kenya Shillings.