Retirement funds manager Zamara (Formerly Alexander Forbes Kenya) is set to construct a 46 floor twin tower building in Nairobi’s Westlands area.
The firm recently announced the completion of preliminary plans for the project with construction works expected to begin in June this year.
According to Zamara’s Umbrella Solutions Head Angela Okinda, the first three floors of the new complex will be reserved for commercial and retail use while the remaining upper floors will accommodate offices.
Commenting on the project, Zamara Executive Director James Olubayi said this is part of a strategy aimed at utilising part of their 128 acres of land in Nairobi and its environs, for the benefit of their member retirement schemes which bring together 33,000 members.
“Our first strategy was to build a residential estate of 211 housing units worth US$ 27m and a mall worth US$ 4m at our 30 acre property in Kitengela but we have now settled on purchasing a commercial building with tenants so as to boost earnings for our members,” said Mr Olubayi.