The owner of Crowne Plaza Hotel in Nairobi has built a Sh5 billion mixed-use property offering office space and accommodation.
The 15-floor Crowne Plaza Annexe is located next to the hotel. It is targeting business travellers as well as companies seeking office space in Nairobi’s Upper Hill financial district.
Billionaire Nazir Akbarali owns Crowne Plaza Hotel Nairobi through an investment vehicle dubbed Maple Star Hotels Ltd. “We foresaw the area as the new financial hub of Nairobi thus presenting many opportunities including office space rentals,” Mr Akbarali, chairman at Crowne Plaza Nairobi, told the Business Daily.
The facility has rental space for banks, insurers, non-governmental organisations, embassies and multinationals.
There are six floors of office space and four floors of accommodation rooms.
It has four floors of parking space.
Upper Hill is considered Kenya’s financial hub, hosting dozens of offices of financiers, insurers and industry regulators.
They include the World Bank, Zep Re, Shelter Afrique, Equity Bank, Britam, European Investment Bank, Capital Markets Authority, Sacco Societies Regulatory Authority, and the Retirement Benefits Authority.