THE PROMOTER
The promoter is a reputable private university in the Republic of Kenya. The promoter owns a parcel of land in the middle of Eldoret town and wishes to raise project funds and implement the proposed commercial center on a 0.5 acre parcel of land earmarked for the construction of office suites. The promoter envision the development of a well-integrated office tower incorporating: business/work
environments, recreation facilities, lecture halls, hotels, executive apartments, a supermarket, a car park and assorted-type commercial units for all market segments to be built in concurrent phases.
OFFICE TWIN TOWER
The proposed twin tower is designed to provide a living experience that instills the beauty of modern commercial block building and includes the following products:
MARKET
In marketing terms, the projects are targeted at serving a certain fast-emerging niche market within the middle, upper-middle and high-income segments of the Kenyan society and the East & Central Africa region at large, with specially designed and constructed offices, business facilities, shopping outlets and recreational facilities; within a well-run environment.
The number of high-net-worth individuals from the East & Central Africa region who have traditionally targeted the greater Rift valley region for either settlement or investment continues to grow due to Kenya’s positive narrative as: a regional socio-economic hub, a politically stable country, the host of the UN headquarters in Africa as well as most international NGOs and embassies, and its perceived liberal attitude towards foreigners, foreign-direct-investment and in general terms. The market need for this proposed project is anchored on the demand-gap that one finds in most sub Saharan African capitals for well-planned and well-integrated small cities where a community comprising of the fast expanding middle-class and [to some extent] high-income segments of the society can thrive in a privately governed environment; and where the less-fortunate can as well offer unskilled/skilled labour towards their betterment.
PROJECT MANAGEMENT
The management of the project has ample experience in developing projects that will always aim at being as fully integrated as is practically possible where the end-users can live, work, shop and play seamlessly.
CURRENT STATUS OF THE PROJECT
This parcel of land has been reserved by the promoters for the purpose of implementing the proposed project with the architectural study and proposed project’s financials already done. The site is within the Eldoret town, North Rift region, 270km North West of Nairobi and is emerging as one of the most vibrant commercial real estate development hotpots in Kenya and Africa at large.
DEVELOPMENT STRATEGY
The promoter’s approach to real estate development in the greater North Rift region is to execute notable and transformational commercial real estate projects in areas that are currently perhaps not considered the most prime but which they reckon to be where near-future growth will be most sustainable and financially rewarding. The promoter’s also look to implement a structure whereby end-user finance is affordable to buyers by seeking re-financiers that will offer below-the-market-rates therefore making their conveyable products affordable to many and additionally actualizing one of Kenya’s Vision 2030 goals.
FURTHER DETAILS
The funding of this project can be set up in phases. The promoters require some USD 20, 000,000 to fully implement with the interest capitalized so as to be settled from the sales income. Appropriately priced long-term end-user finance is a key issue that the promoters would appreciate to have explored. If available, it would dramatically improve the project’s competitiveness, and therefore viability.
The elected approach to maintaining easy and convenience access to design & technical personnel/resources is built around putting together some of the best trained and experienced professionals into a Design & Technical Consortium [D&TC]; comprising of the top real estate consultancy firms in the region. Their remuneration is planned on two tiers: the usual percentage or time- based professional fees and profit sharing in respect of each completed project, or phase thereof.
The promoter is a reputable private university in the Republic of Kenya. The promoter owns a parcel of land in the middle of Eldoret town and wishes to raise project funds and implement the proposed commercial center on a 0.5 acre parcel of land earmarked for the construction of office suites. The promoter envision the development of a well-integrated office tower incorporating: business/work
environments, recreation facilities, lecture halls, hotels, executive apartments, a supermarket, a car park and assorted-type commercial units for all market segments to be built in concurrent phases.
OFFICE TWIN TOWER
The proposed twin tower is designed to provide a living experience that instills the beauty of modern commercial block building and includes the following products:
- 03 No. BASEMENT:- 105 Car Park
- GROUND FLOOR :- Main Entrance, Restaurant, Office & Mini-super market.
- 1st :- Library, bookshop & business center.
- 2nd,3rd,4th :- Lecture Halls.
- 5th,6th,7th,8th,9th,10th :- Offices.
- 11th :- Hotel Reception, Conference Halls & Hotel Offices.
- 12th :- Executive Apartments Floor.
- 13th,14th,15th,16th,17th :- 75 No. Hotel Rooms.
- 18th :- Restaurant.
- 19th :- Spa & Gym.
- 20th :- V.I.P Private Lounges.
- 21st :- Swimming Pool & Terrace Restaurant.
MARKET
In marketing terms, the projects are targeted at serving a certain fast-emerging niche market within the middle, upper-middle and high-income segments of the Kenyan society and the East & Central Africa region at large, with specially designed and constructed offices, business facilities, shopping outlets and recreational facilities; within a well-run environment.
The number of high-net-worth individuals from the East & Central Africa region who have traditionally targeted the greater Rift valley region for either settlement or investment continues to grow due to Kenya’s positive narrative as: a regional socio-economic hub, a politically stable country, the host of the UN headquarters in Africa as well as most international NGOs and embassies, and its perceived liberal attitude towards foreigners, foreign-direct-investment and in general terms. The market need for this proposed project is anchored on the demand-gap that one finds in most sub Saharan African capitals for well-planned and well-integrated small cities where a community comprising of the fast expanding middle-class and [to some extent] high-income segments of the society can thrive in a privately governed environment; and where the less-fortunate can as well offer unskilled/skilled labour towards their betterment.
PROJECT MANAGEMENT
The management of the project has ample experience in developing projects that will always aim at being as fully integrated as is practically possible where the end-users can live, work, shop and play seamlessly.
CURRENT STATUS OF THE PROJECT
This parcel of land has been reserved by the promoters for the purpose of implementing the proposed project with the architectural study and proposed project’s financials already done. The site is within the Eldoret town, North Rift region, 270km North West of Nairobi and is emerging as one of the most vibrant commercial real estate development hotpots in Kenya and Africa at large.
DEVELOPMENT STRATEGY
The promoter’s approach to real estate development in the greater North Rift region is to execute notable and transformational commercial real estate projects in areas that are currently perhaps not considered the most prime but which they reckon to be where near-future growth will be most sustainable and financially rewarding. The promoter’s also look to implement a structure whereby end-user finance is affordable to buyers by seeking re-financiers that will offer below-the-market-rates therefore making their conveyable products affordable to many and additionally actualizing one of Kenya’s Vision 2030 goals.
FURTHER DETAILS
The funding of this project can be set up in phases. The promoters require some USD 20, 000,000 to fully implement with the interest capitalized so as to be settled from the sales income. Appropriately priced long-term end-user finance is a key issue that the promoters would appreciate to have explored. If available, it would dramatically improve the project’s competitiveness, and therefore viability.
The elected approach to maintaining easy and convenience access to design & technical personnel/resources is built around putting together some of the best trained and experienced professionals into a Design & Technical Consortium [D&TC]; comprising of the top real estate consultancy firms in the region. Their remuneration is planned on two tiers: the usual percentage or time- based professional fees and profit sharing in respect of each completed project, or phase thereof.