The Kenya National Social Security Fund has announced the launch of the NSSF Twin Towers project in Nairobi's Central Business District, which will become the tallest building in East and Central Africa. The project, with an estimated investment of approximately $233 million, is located at the intersection of Uhuru Highway and Kenyatta Avenue and represents a significant real estate investment for Kenya's pension fund.
David Koross, NSSF Managing Trustee and CEO, stated that the choice to develop vertically reflects business logic and long-term planning for workers' savings. Koross emphasized, "That land has been idle for many years and has not generated any returns for contributors. Its value is approximately KSh 4 billion, and we are unlocking that value through redevelopment, selling the completed units to investors so that the funds flow back into the Fund."
The NSSF Twin Towers consist of two towers. Tower A is designed with 60 floors, standing approximately 260 meters tall, and will become the tallest building in East and Central Africa upon completion. Tower B has 35 floors, with a height of about 140 meters. The project will offer premium office space, a business hotel, serviced residential apartments, and will include retail shops, conference facilities, a 56th-floor observation deck, and approximately 1,150 parking spaces.
Construction of the project is expected to take three years, with the groundbreaking ceremony planned for later this year after regulatory approvals are secured. The project will be constructed by China Road and Bridge Corporation, a subsidiary of China Communications Construction Company Limited. The NSSF has set a minimum return target of 12%, with actual returns depending on market conditions.
The NSSF Twin Towers project aims to drive the revitalization of Nairobi's Central Business District and promote a 24-hour economy. Koross said, "We want people to live in the city again. By introducing housing, hotels, and retail into the Central Business District, commercial activity will extend beyond office hours, supporting an around-the-clock economy." The project not only unlocks the value of idle land but will also solidify Nairobi's position as a regional business hub for East and Central Africa.
