Cytonn investments has lost its bid to construct a 150-metre piece of mixed-use real estate development in Kilimani.
The firm had announced plans to erect the Ksh. 20 billion structure in a 4-acre parcel of land in Kilimani back in 2017 but three years on, a Kenyan court has okayed National City County’s decision to revoke its approval.
NCC had revoked the approval citing Cytonn’s failure to make provision for handling an increase in traffic occasioned by the project.
Cytonn had taken the NCC to court following its decision to revoke the building’s approval in April of 2018 but high court judge Justice John Mativo in his ruling found that there was no evidence the NCC abused its powers under the law by canceling the multi-billion shilling project.
“I find and hold that this judicial review application is unmerited,” Justice Mativo said.
In a relatively similar case, the owners of Villa Rosa Kempinski building in Westlands have been at court against China’s Avic International for failing to make provision for increased traffic on the construction of Nairobi’s Global Trade Centre in Westlands. The petitioners argued that an increase in traffic would affect the ease of access to the luxurious hotel and a potential loss of business
Among those opposed the tower project were Kilimani residents who complained that the project would disrupt businesses.
The project was set to feature a sky bridge restaurant (Kenya’s highest suspended restaurant), Nairobi’s largest ballroom, a double horizon fitness club, the largest elevated infinity-edge pool in Nairobi and an apex sky lounge.
During its launch, Cytonn CEO Edwin Dande had said the investment would generate returns of 25 percent per annum to local and international investors with completion set to 2022, none of which will now happen.