CBK Pension Scheme to build 27 floor block in CBD
Vigilance House in Nairobi. The Central Bank of Kenya CBK) Pension Scheme is preparing to put up a 27-floor building next to the offices of the President, Deputy President and the Police headquarters. PHOTO | FILE
What you need to know:
- Over the last decade, Nairobi has seen the growth of multiple office towers, especially in the emerging corporate district of Upper Hill. .
- The building will be next to the CBK Pension Fund House in what will see several tenants, among them CFC Bank, affected.
The Central Bank of Kenya CBK) Pension Scheme is preparing to put up a 27-floor building next to the offices of the President, Deputy President and the Police headquarters.
The Sh2.49 billion building will be in the heart of the highly secured Harambee Avenue, mostly occupied by government offices, offering retail and office space to private sector tenants.
The building becomes the latest in a string of new, ongoing or planned structures in the city that has experienced a skyscraper boom in the last five years.
OFFICE BUILDING
“Being a neighbour to Vigilance House, the headquarters of the police in Kenya, Office of the President and Deputy President the proposed site is, and will enjoy, the privileges of security,” regulatory filings for the project say.
The building will have two basement levels with a total of 83 parking bays. The 1st to 4th floors will also be used for parking.
The 5th floor will host a restaurant and an auditorium while the 6th to 25th floor will have offices. A penthouse with offices will occupy the remaining two floors.
Over the last decade, Nairobi has seen the growth of multiple office towers, especially in the emerging corporate district of Upper Hill. .
The building will be next to the CBK Pension Fund House in what will see several tenants, among them CFC Bank, affected.
“CFC Bank being the tenants of CBK pension fund house, will lose their businesses after being given a notice to vacate the building because of the coming project, which will affect the building they are occupying currently,” a report to the National Environment Management Authority says.
The pension scheme is looking to take advantage of the few open office spaces in the area, with the government often looking to lease space for its workers. But the developer will be forced to tread carefully during the construction to avoid upsetting the powerful neighbours.
“Sensitive neighbouring businesses like the KRA (Kenya Revenue Authority) in Times Tower, Agip House, Vigilance House and also the Office of the Deputy President stated that noise may interfere with their quiet working environment,” says the report.
The development comes even as analysts predict an office glut in Nairobi, with most organisations seeking to move to the city’s less crowded suburbs like Kilimani and Karen Westlands and Lavington.
