The National Social Security Fund (NSSF) is planning to build office blocks and luxury apartments in Nairobi CBD in a mega project that has been valued at Sh30 billion. These apartments will be hosted on two towers that shall contain 35 and 60 floors. The building will also be designed to host a conference facility, a hotel, and retail spaces.
It is expected that this project will be constructed along Kenyatta Avenue where the NSSF has 3.85 acres of land. This land has a valuation of Sh4 billion.
“We are considering the idea of regenerating life in the city centre. This is why in [the construction design], we are building apartments to bring people to live in the city centre,” David Koross, the NSSF managing trustee and chief executive officer, told local business newspaper, the Business Daily. According to Mr. Koross, the project will be fully funded by the NSSF over the next four years.
This is the second largest mega infrastructural development project that the NSSF is taking on. The NSSF has partnered with Chinese firm, China Road and Bridge Corporation (CRBC), in a consortium that is building the mega Rironi-Mau Summit Expressway.
The CRBC and NSSF consortium will build the section of road from Nairobi to Gilgil via Naivasha with a total of 81 kilometres, and the section from Nairobi to Naivasha through Maai Mahiu with a total of 58 kilometres.
“The allure of these relatively higher and stable returns is a key motivation behind NSSF’s move into the public-private-partnership (PPP) deal,” Mr. Koross told the media recently.
“By investing in [the highway] project, NSSF aims to earn a robust long-term yield that outpaces typical Treasury securities, ultimately boosting returns for pension contributors while fighting with the fund’s risk appetite.”
The NSSF is currently raking in the highest contributions from members in its history. This year, it is expected to collect around Sh100 billion following increases in contributions that came into effect in February 2026.
Contributions to NSSF have been on a steady growth over the last three years. The increase in contributions is attributed to the continued implementation of the NSSF Act 2013.
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