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Pan Africa Insurance Tower | Westlands | 88m | 18 fl | T/O

81055 Views 200 Replies 48 Participants Last post by  Kenyan_yungin
Pan Africa Insurance has announced plans to build a 20-storey office complex in Westlands, Nairobi, as it seeks to supplement income from its core business.

The Sh2.5 billion project, whose construction begins later this year, will be funded using Pan Africa’s cash reserves, said the firm’s CEO Tom Gitogo.

“We will use a third of the space and rent out the rest,” Mr Gitogo added.

The proposed office block that is tipped to be one of the tallest buildings along Waiyaki Way will see Pan Africa relocating from its Kenyatta Avenue headquarters and earn rental income from corporate tenants.

Westlands offers some of Kenya’s highest commercial rents, with office space going for between Sh100 and Sh120 per square foot – nearly double the cost of similar spaces in the Nairobi central business district.

Pan Africa, which owns Mae Ridge homes in Nairobi’s Runda estate, said it earned high returns from sale of property in the leafy suburb, which boosted its revenue for the year ended December 2013.

Insurance firms have lately ventured into real estate development, building high-end commercial properties, as they seek to cash in on high rental fees and capital appreciation.

Britam is, for instance, building a 31-storey office complex along Hospital Road in Upper Hill – Nairobi’s fastest growing commercial district.

The building, to be known as Britam Tower, will have 30,000 square metres of space for rent and will house the firm’s headquarters and accommodate corporate tenants. It is scheduled for completion in December 2015.

UAP Insurance is also building a 32-storey tower in Upper Hill that will serve as UAP headquarters, with surplus space for letting out to corporate tenants. The UAP Tower is estimated to cost Sh4 billion.

The regional insurer is also constructing a 15-floor office block in Juba, South Sudan. Dubbed Equatorial Towers, the upcoming building is tipped to be the tallest man-made structure in South Sudan on completion in August.

The Kenya Reinsurance Company has also announced plans to build a high-rise commercial building in Upper Hill at a provisional budget of Sh4 billion to cash in on the rising demand for office space in the area.
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He did not say they downsized.He said it is about 19 floors which is close to 20.He also said that the area plot ratio restricts the size.So the bigger the plot the taller the building.I know Upper Hill has more open space compared to Westands that is why they are taller
Where exactly along Waiyaki Way is it located.Any idea?
Yes that is a bit concerning.No renders about one month from groundbreaking.Which construction company?Lack of information does not bode well but a word from the CEO is reassuring
I would want to see the law as well but info is sometimes hard to come by in Nairobi.Brazil has laws on height for some reason New York never had which I think is the best way to go.Sometimes it may depend on the funds the investor has
These are excuses in my opinion. I need to see the law about building heights and zones in Nairobi. For too long I've been told about these things but they seem mysteries to me, I need a source to demystify these fake theory.
I saw they were working on roads in Upper Hill.The roads in Westlands are not the best but better than Upper Hill.I lived along Muthithi Road about two or three years ago and it was horrible.Rough and full of potholes
Maybe they went to westlands because of the infrastructure there is much better,look at how upperhill is grappling with road issues :eek:hno:
I think Westlands suitable for buildings of up to 30 floors.Upper Hill is more suitable for buildings 30 floors and taller
I know that building.It has been under construction for about 4 years and it is around just six floors up to now.I have no idea which building it is or why construction keeps stalling
I agree,that Muthithi road is very chaotic!and it reminds me,you see at the entrance of Muthithi road,just opposite the Museaum,there is a tall building which has stalled,would you know what building is that?
Probably.I remember reading about that a few years back on this site.How many floors is the casino?
Is it the casino?
It actually is the 7-star Prince Hotel by Kamlesh Pattni.I see now it has stalled for so long.They must have run him broke with court cases and seizure of his other investments
Is it the casino?
There is actually a height restrictions thread on skyscrapercity but I am unable to copy the link right now.Japan has a restriction of 300m because of seismic activity,Cape Town has a restriction of 150m to preserve natural beauty,Berlin has a restriction of 100m to preserve culture etc.I don't know the reason for Westlands only plot area ratio
We are just being taken for a ride about building heights, I don't stability, etc what not and what have you!! How special is Kenya on earth, Look at the Asian countries people are building crazy tall buildings, hapa watu wanakuambia sijui ... It's maddening. I need to see the law to believe this hogwash kind of law exists. Technology has been used to circumvent natural circumstances, look at Japan! We are just lazy and don't like to do research so we use excuses.
Then whoever took over must really have cash problems
nope its not kamlesh,his project did not take off
More like what you are hoping for?Everybody seems to love the blue glassy facade.Personally I love the white colour like Rahimtulla
I'm going out here on a limb but i think this building renders will be a blue glassed skyscraper not like I&m.
Brian you said you passed by the Lemac site.How is it going?
Sawa.Thanks Brian
Rising gracefully kijanamwafrika!i think they are doing the third floor but it is clearly visible from waiyaki way!
Kizibo was first to like the above comment since he saw 18 floors not 20 floors.The CEO said 19 floors but I still think it is 20fl
Who is he?He did not even post the photos he said he had.The CEO has said both 19 and 20 before so I take 20
If the CEO said 19, why are you thinking 20?
Not trying to be a smart ass but this guy probably has more details than anyone else in reference to the structure.
Unfortunately not everything can be built in Upper Hill but at least it is on Waiyaki Way
they could have taken this thing to upperhill instead.
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I actually applaud the person behind 4th Ngong Avenue Tower.It is not ugly or very tall.It is simple.It will be the tallest building by an individual black owner in Kenya.Fusion Capital came through with the funding.I think REITs is the way to go for people to think bigger
It came from Fusion Capital.The funding will have to be repaid eventually so it is not for free.The funding for starting Zetech College(now a university) also came from Fusion Capital.These guys had visions
i thought the owner who is a real estate guy only contributed land and funding came from equity bank and some other sources?
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