Britam has launched the construction of Sh. 3.3 billion 11-storey apartments in Kilimani, Nairobi.
The firm is targeting business travellers, consultants and business executives in the apartments that will consist of 117 two-bedroom and 46 one-bedroom rental apartments located on a 1.6 acre-plot along Nyangumi Road, Kilimani area.
“The market will need at least 1,000 serviced apartments in the next three years and Britam Properties will help in bridging this gap,” said Britam CEO Benson Wairegi.
The current market rate for serviced apartments in the area range between Sh12,000 to Sh20,000 for a two-bedroom unit and Sh8,000 to Sh12,000 for a one-bedroom unit a night according to the firm.