NSSF Commission’s Construction Works for Africa’s Potentially Third Tallest Building
NSSF Chairman Adan Mohamed said the completion of Hazina Trade Centre was one of the high impact investment projects lined up by the fund to boost its asset portfolio.
The National Social Security Fund (NSSF) has officially kicked off construction works to complete the 39 storey Hazina Trade Centre in Nairobi.
The construction works to be, completed at a contracted cost of Kshs 6.7billion will involve the construction of a 31-storey office tower at the existing Hazina Trade Centre location. The proposed Hazina Trade Centre Towers will feature an architectural design inspired by the outline of a Maasai Moran standing with a crossed leg and leaning on his spear.
The 31-storey office tower will be, constructed atop the existing 8-storey Hazina Trade Centre building that currently houses the Nakumatt Lifestyle Hypermarket store along Nairobi’s Monrovia and MokhtarDaddah Streets.
Speaking during a ceremony presided over by Labour Cabinet Secretary KazunguKambito commission, the construction works, NSSF Managing Trustee Tom Odongo said the proposed 39-Storey Hazina Trade Centre Towers will upon completion be a likely contender for recognition as Africa’s third tallest building.
The construction works on the building architecturally designed by local consultant’sMruttu&SalmannAssociates will be, undertaken by China Jiangxi International Kenya Limited- a locally incorporated international construction firm.
Among other features, the new tower estimated to run up to 180M, Odongo disclosed will incorporate sustainable architectural features including; Fritted glazing, Vegetated roof terraces, a Ventilated atrium, a Helipad and a Nairobi City skyline Viewing gallery.
“Upon completion of the new tower block, we project to turn around upto Kshs 100million lease income from various tenants,” Odongo said.
He added that; “the completion of Hazina Trade Centre is a long overdue project that has been held back by legal and financial hurdles that have now been overcome.”
During the function, NSSF Chairman Adan Mohamed said the completion of Hazina Trade Centre was one of the high impact investment projects lined up by the fund to boost its asset portfolio.
Far from the casual classification of such projects merely as real estate investments, Mohamed pointed it out that the fund’s high impact projects will aptly be, classified as national infrastructure developments.
The development of Hazina Trade Centre, Mohamed explained will also be geared at positioning the building to reap anticipated benefits with the scheduled unveiling of a Nairobi International Financial Centre.
“One of the flagship projects under the Kenya Vision 2030 Blueprint revolves around the development of the Nairobi International Financial Centre. Such a centre as envisioned will attract major financial services sector players to Nairobi,” Mohamed said. He added that; “I am optimistic that the new Hazina Trade Centre will not only transform the skyline of Nairobi City but also act as Kenya’s Wall Street complex housing global financial services providers!”
From a historical perspective, the Hazina Trade Centre project commenced in 1994, with construction works kicking off in began in 1997. However, due to financial constraints NSSF was unable to complete the tower block leading to its lease out as a shopping mall in 2003 to Nakumatt Holdings.
Besides Hazina Trade Centre, the NSSF Chairperson further confirmed that the fund is also actively seeking to develop a number of undeveloped land and plots belonging to the fund.
The fund, he disclosed, currently, has undeveloped land and plots portfolio of 16 properties valued at more than Kshs 8.6billion.
NSSF, Mohamed said is already, undertaking feasibility studies for the development of an international convention centre at our undeveloped plot along Kenyatta Avenue opposite Nyayo House. The Convention Centre will be, developed alongside a high-end luxury hotel property incorporating rental apartments at the prime city plot.