Czech Republic-based private equity real estate developer, Lordship Africa, is Tuesday set to break ground for a 44-floor residential tower in Nairobi hosting 288 luxury apartments.
The 88 Nairobi Condominium, to be located in Upper Hill area, will house one- and two-bedroom fully furnished executive units, two-bedroom VIP units, four-bedroom duplexes and penthouse apartments with prices starting at Sh11 million to Sh30 million off-plan.
“The property will feature a 44-floor, high-end, dedicated residential condominiums designed to five-star hotel standards aligned with World Bank and European Union safety requirements,” said the firm’s statement.
The property, which stands on two acres and has since sold 27 units, will raise funds for its development from equity partners, debt financing and income generated from off-plan sales of the housing units.
This is the second investment by the developer after construction of the high-end Karen Hills development consisting of 60 fully serviced plots with subsequent establishment of its Africa hub in Nairobi.
According to the firm’s website, 88 Nairobi condominium’s units will have a helipad as well as three penthouses on the 43rd and 44th floors. It will also have a 300-bay underground parking.