US Embassy Sets Date for Opening of Ksh5.5B Nairobi Estate

Artistic representation of the upcoming real estate project for US Embassy
Artistic representation of the upcoming real estate project for the US Embassy
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The US Embassy in Nairobi has set the official date when the 90-unit gated estate valued at Ksh5.5 billion will be opened for occupation.

The multi-billion housing estate dubbed OBO Kenya Diplomatic Housing is being developed by Gateway Real Estate Africa Ltd (GREA) and US-based Verdant Ventures in the posh Rosslyn estate.

According to the developer, the housing unit will be open for occupation by US Embassy staff by May 2022.

An exterior image of the US Embassy in Gigiri, Nairobi.
An exterior image of the US Embassy in Gigiri, Nairobi.
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The estate consists of townhouses, clubhouse, apartments, gym, a swimming pool, and other amenities. The units will be leased to the US for a period of eight years.

The development will consist of a combination of apartments, townhouses and a clubhouse with a gym, swimming pool and other amenities, and will be on lease to the US for eight years.

The opening of the much anticipated housing project was made public by Mauritius-based Grit Real Estate Income Group, which owns 19.98 per cent of GREA.

The Mauritius group is pushing to own half of the Embassy housing project after its completion.

“The construction of a 90-unit diplomatic apartment and townhouse community in Kenya fully tenanted by OBO, a division of the US State Department, is making good progress and is expected to be delivered by May 2022,” Grit group stated.

The foreign based firm is set to earn millions from the real estate project in the country as it is expected to receive Ksh537.8 million from the Embassy in the first year of the lease.

The Embassy picked the location for that project after considering security and ease of access to key facilities such as hospitals, the airport, shopping malls, and international schools.

The Mauritius group joint in undertaking the project is also building housing units for the US government in Mali’s capital Bamako, where it is putting up 45 housing units.

The housing project is set be of value to the city as it is projected to open up the area to other investments and expose other adjacent areas to development initiatives.

It is also expected to create job opportunities both in the formal and informal sectors as demand for labour will spike. 

On the other hand, the real estate project is expected to affect land prices in the area. Experts have predicted that land and other properties in the area will skyrocket as more investors move to set up businesses there.

The latest report released on Monday, January 31, by realtor HassConsult areas within Nairobi also had the highest increase in price.

Westlands Area.
A view of the ever-changing skyline of Westlands, Nairobi.
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An acre of land in Upperhill is the most expensive in the city at Ksh509.7 million, followed by Westlands and Kilimani at Ksh423.4 million and Ksh413.1 million respectively.