Leading
real estate company, PDM Holdings has embarked on a Sh1.6bn
state-of-the-art Grade A commercial development, in a bid to meet an
upsurge in demand for Grade A office space in Nairobi, at a time when
tenants are willing to pay more for better quality commercial space within
the capital.
Recent findings indicate that firms are willing
to spend double the prevailing CBD office rates – currently at Sh80.3 per
square foot as charged by most developers- so as to avoid the congestion
and lack of adequate parking that bedevil the city centre, according to
a 2014 report by Mentor Management.
The
Vienna Court development comes at an opportune time when an increasing
numbers of multinationals are moving their regional operations to Nairobi,
positioning the city as a progressive regional business hub as
corroborated by the African Development Bank's 2014 report, which
announced Nairobi as the second fastest growing city in Africa.
“With an increase in the investment opportunities
presented by Nairobi, and Kenya as a regional economic powerhouse, we have
seen a rise in demand for commercial offices in the capital, which is
expected to further rise with the continued interest by
foreign-based firms and investors to set up regional offices here,” said
Lengai Croze, lead architect at PDM Holdings.
Located along State House Crescent and adjacent
to Processional Way, Vienna Court is strategically positioned to ensure
easy navigation to and from the city center, guaranteeing minimal
congestion. It is for similar reasons that in recent years, multinationals
have exhibited preference for the new emerging zones such as Kilimani and
most notably Upper Hill which hosts a number of multinationals including
the Coca-Cola East and Central Africa headquarters, World Bank and World
Health Organisation.
Upper Hill also hosts Kenya’s Equity Bank and
Kenya Commercial head offices, a pointer that local firms are adding on to
the demand for quality office space outside the crowded city centre.
The development along State House Crescent has
sparked off many economic benefits as well, such as employment creation
for hundreds of skilled and semi-skilled local labourers involved in its
construction and upon its completion, will benefit many others who will
be employed in different capacities.
Vienna Court is attuned to sustainable
development and is currently seeking LEED accreditation with the US Green
Building Council (USGBC), which is a green building certification program
that recognizes best-in-class building strategies and practices.
The building's ultra-modern features which
include rainwater harvesting, balconies for solar shading, solar control
glass, and bicycle storage facilities with all office spaces
having opportunities for passive ventilation, and access to highly
efficient central air conditioning infrastructure, will play a key role
towards ensuring a conducive working environment for its occupants through
improved well-being.
“With
Vienna Court, we have had the advantage of incorporating features that are of
key concern to tenants, not only in terms of lowering the maintenance
costs of buildings but by also making sure that the office space they take
up facilitates productivity, both of which many developments may lack and
are unable to introduce in due to limitations on space” said Croze Lengai.
Globally, there is a growing interest and demand
for green buildings, with governments in the first world countries, such
as the US and UK, offering grants and incentives including subsidies and
tax breaks to organisations to woo them into incorporating green
building measure. Locally, foreign investors have expressed preference for
the buildings, creating a niche market with a gap to be filled.
Vienna Courts development is a new addition to
PDM Holdings’ impressive track record in real estate development, with the
building of The Courtyard, Nation Centre and IPS Building, now definitive
features of Nairobi’s skyline, among the key outstanding projects in the
firm’s portfolio.
PDM also has several multi-billion shilling
projects in the pipeline coming up in Nairobi, Mombasa and Kampala.
No comments:
Post a Comment