Britam Tower, the tallest building in East and Central Africa has finally opened for business. Dr Benson Wairegi, the group managing director of Britam Holdings, confirmed the reports and said that Britam Tower was ready for leasing.
The new building which is located in Nairobi; Kenya has 31 storeys and an exterior 15-storey silo for parking.
“Britam tower which is now ready for leasing has eight high-speed lifts to travel from ground floor to the top floor in less than 30 seconds, it is the third tallest building in Sub-Saharan Africa,” Dr. Wairegi said.
He added that no other building in Nairobi gives its occupants a “stress-relieving” chance to see Mt Kenya, the Nairobi National Park, Wilson Airport, and Nairobi CBD among other scenic views in one enclosure.
Office space in new buildings
However, Nairobi’s real estate industry is currently experiencing a surplus in office space; it will be a wait-and-see matter on whether all the 303,242 square feet that are available at the Britam Tower with a parking capacity of 1,002 cars will be taken up.
This is because in the neighboring UAP building, just 35% of the available space had been taken up more than seven months after its launch. According to a 2017 report by Knight Frank, it stated that the high levels of new supply of commercial office space have negatively affected rental levels and occupancy rates.
The Britam Tower was developed by Britam Properties, a subsidiary of Britam Holdings. Britam Properties is also developing 11 floors of fully-furnished apartments in Kilimani worth US $33m.