A construction firm is planning to put up a 13-storey residential building in Kilimani, one of the city’s most prime locations.
The project, named Grand Premier Apartments, will consist of four units of three-bedroom apartment, 100 units of two-bedroom apartments, and 48 units of one-bedroom apartments.
The proposed project will be located approximately along Argwings Kodhek Road few metres before Valley Arcade. The location is of the building on a plot measuring 0.2036 hectares.
According to regulatory filings submitted to NEMA, the project will cost approximately KSh. 700 million to complete.
Developers are increasingly looking to plug the demand in many areas owing to sustained local housing demand. Some deep pocketed developers are especially finding upscale locations like Kilimani to favourable as there are not many apartment buildings in those areas compared to other middle level suburbs.
Kilimani’s rental prices rose by 2.9 per cent in 2018, higher than those in most upscale locations including Kileleshwa and Nyari, according to the latest house price index by Hass Consult.