South Africa’s property investment group Eris Property Developers Ltd is set to build 345 housing units along Ngong Road. The development will be at Ngando area off the upcoming Ngong dual carriageway. It will offer tenants a clubhouse and a four-floor supermarket.
A notice by National Environment Management Authority (Nema) says the development will see seven nine-storey blocks constructed to host 63 one-bedroom units, 63 three-bedroomed units, 195 two-bedroomed units, and 24 studio apartments.
The project will be funded under the investment vehicle Momentum Africa Real Estate Fund (Maref) that raised Sh25 billion for real estate projects in Mozambique, Zambia, Kenya, Nigeria and Ghana. Eris is the fund adviser for Maref.
The plan comes days after a group of Chinese investors announced ground-breaking for a 10-floor residential development in Nairobi.
A 15-floor hotel-cum-residential development investment by Eritrean investors Hearan Enterprises is also in the works.
