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

81035 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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Pan Africa CEO Tom Gitongo was featured on Today's Business Daily copy and was saying the project groundbreaking ceremony would be this Early september.Despite a big drop in revenue earning half of the financial year,they will go on with their ambitious project.
Not yet but since the construction will start next month am sure they have it!i hope its a master piece.I tried to look at their website but to no success
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 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?
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
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
Does anybody know why there's a height restriction in westlands?
i don't know!and i haven't heard of any rule pertaing to height!even in upperhill it was the same story until Kidero decided to remove the law,it lead to downsizing of KCB and almost UAP which would have been 23 floors,also the proposed The One tower was made to 54 floors from 70.
nope its not kamlesh,his project did not take off
Definately we need to know the truth,how i wish i could see nairobi like Shanghai or riyadh
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.
I know it looks so old the green nets look brown now
Ur Damn Right!!
Shame because that's a really nice spot to put up a nice skyscraper.
I hope so its a good blue because some have an eyesore blue!but i would like to be very glassy.
I'm going out here on a limb but i think this building renders will be a blue glassed skyscraper not like I&m.
Does anyone know the excact location of the site along waiyaki way!cause yesterday i was on waiyaki way and i noticed a big parcel of land with let say like three tractors and machines digging really loud!it is situated near the Malawi chancery!i hope it will be that site because just like 100 meters away it is the ongoing construction of lemac tower so when both are done it will form a good cluster of buildings
Rising gracefully kijanamwafrika!i think they are doing the third floor but it is clearly visible from waiyaki way!
well its 105.5meters...according to wikipedia
it seem activities are back in the site,there are earthmovers moving along and the cement mixer plant has been assembled near the site..i will take snaps next tuesday
foundation was completed long time ago,then there was a major shift in management which lead to abit pause on construction activities
so this means that they have already dug the foundation and now it is time for it to go up?
Hey,just kindly asking,do you know the height by chance?
Ok,I know pics say lot more but I rarely pass by the site so I will update what I saw,they have mounted the crane already a big green crane and bars are two months or so it will be visible on wayaki way but is very very busy site
Wow so also this tower was stopped by nema,pan africa suing them and also they are having differences with sayan Brothers,who is the contractor :eek:hno:so this church wants the construction stopped because it will be block,please please can someone explain to me what sought of rubbish is this,the selfishness in this country is pathetic at astronomical level,ok why are we just against development?? I fail to understand and we want to be the best in E.A??jamani
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