Real estate firm Vaal Development and Investment Ltd. has proposed the construction of residential apartments dabbed Elite Towers in Westlands, adding to the area’s group of high-rise commercial and residential buildings.
The proposed development will have 20 floors consisting of 120 one-bedroom units and 42 two-bedroom units making up a total of 162 well serviced apartments. The development will also have 92 parking lots, a community hall, a swimming pool and other associated amenities.
According to the Environmental Impact Assessment submitted to NEMA by a consultant, the proposed project is estimated by the project quantity surveyor to cost KES 150 million to put up.
The project implementation works is estimated to take 2 years to completion once all statutory approvals are obtained.
Westlands is predominantly a mixed use development area with most buildings being of both commercial and residential. The area has been a favourite with high-end investors having interests in modern commercial and residential developments due to its stability of yield and an increasing population of companies as well as professionals.
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Furthermore, the state of infrastructure in Westlands has been outstanding compared to most parts of the city. The existence of multinational corporations and big firms who have established themselves in the area has also given the location a good corporate bearing.
An acre of land currently goes for about KES 410m according to Hass land price index.
The concerned neighbourhood where the plot located is currently undergoing transformation with several mixed use developments coming up, including apartments, offices, hotels and institutions. The proposed development will add to the upcoming inventory of concrete assets in the area.
The 20 floor structure will neighbour other iconic buildings in the vicinity including Golden Tulip, Nairobi Security Exchange, Villa Rosa Kempinski, Standard Chartered Bank Head Office, Java House (Orbit Place), a car hiring company, Misha Tower among others.
The development will sit on a piece of land that is quarter acre by size located on Westlands Road for which the developer has claimed full ownership.
