88 Nairobi condominium tower: What it will cost you to live there.
The
88 Nairobi Condominium Tower is a
44-story residential skyscraper now under construction on a two-acre plot of
land at the junction of Bishop’s Road and 4th Ngong Avenue in Nairobi, Kenya’s
capital and largest city.
Mr. Jackson has completed Karen Hills, a high-end gated community
with 60 fully serviced one-acre plots and mansions priced between Sh66 million
and Sh85 million.
Mr Jackson hopes to recreate the same success with Eighty-Eight, which provides
studios, one and two bedrooms, fully furnished executive flats, two-bedroom
executive-plus apartments, duplex junior penthouses, and Lordship penthouses at
the top.
According to Marshal Mutei, Lordship Africa’s sales and development manager, 40 of the 44
studios, each measuring 33 square metres, have already been sold out. “We
should be finished with the concrete frame by October.” “The
finishing will begin in the middle of this year and will be completed by the
end of next year,” Mr Mutei added.
Eighty-Eight defies the mixed-use building trend, in which developers combine residential
units with commercial and office space. “Not everyone wants to run into
their colleagues all the time. They desire a life that does not constantly
remind them of work. That is why we decided to make them solely
residential,” Mr Mutei explained.
For cash buyers, each unit requires a $1,000 (Sh115,000) reservation fee, followed
by a 10% payment after an offer letter is issued.
A one-bedroom house will cost at least Sh20 million, while a two-bedroom house
would cost at least Sh25 million.
According to the project’s website, floors 20, 24, 25, 30, and 35 are sold out, while
floors 39 to 44 are reserved. The duplexes, which are located beneath the
penthouses, cost $1 million (Sh115 million). Mr Mutei elected not to reveal the
cost of the penthouses.
For a penthouse, the buyer will be given an empty floor before being flown to
Milan, Italy, to meet world-class architects who will advice on how to plan and
decorate it.
“It’s a whole new ballgame. Owning a penthouse is more than simply a financial
investment. “Because they would be living among high-profile people,
potential buyers will only be permitted access after an interview with the
director of Eighty-Eight,” Mr Mutei explained.
A lounge, 150-seat restaurant, shop, 21-metre heated pool with sun deck,
overnight guest rooms, and three bars are among the amenities of Eighty-Eight.
The building will also have parking for up to 518 vehicles, car charging stations,
and a helipad. Mr Mutei claims that increased building material costs have
caused them to raise their pricing.
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