NAIROBI, Kenya, Feb 6 – International real estate development and investment company Lordship Africa has broken ground on what will be the tallest private residential building in sub-Saharan Africa.
The 88 Nairobi Condominium in Upper Hill area features a 44-floor, high-end, dedicated residential condominiums designed to five-star hotel standards, according to the developer.
The residential houses include studio, 1 bedroom, and 2 bedroom apartments and include luxury penthouses at 40 floors and above, which will have three or four bedrooms.
Residential houses begin from the 8 floor, with the lower floors containing a gym, parking area, shops and a restaurant.
Starting price for the 2 bedroom apartments start at Sh22.9 million while renting the same space will set a tenant back by about Sh370,000.
“We’ve done a comparison on how much the same house costs on other properties. For instance, at Gem Suites Riverside, an equivalent goes for Sh400, 000 per month, Serene Valley is Sh390,000 and Yaya Towers Sh410,000. We, therefore, think that our price is quite competitive,” said Jonathan Jackson, Lordship Africa Chairman, during the opening of the condominium’s show house.
The houses are targeting the over 40,000 people who work in Upperhill. The location is home to embassies, multi-national corporates, blue-chip financial companies, the center of medical facilities, and the high-profile legal fraternity.
Construction of the luxury apartment kicks off in April with management saying it may take up to two and a half years to complete.