Kenya’s National Social Security Fund (NSSF) has unveiled plans to construct the tallest building in East and Central Africa in Nairobi’s Central Business District, rivaling Ethiopia’s planned Sub-Saharan Africa tallest building. The NSSF Twin Towers project is expected to be one of the boldest property investments ever undertaken by a Kenyan pension fund.

Cost of the Project

The project is expected to cost approximately $233 million. The NSSF Twin Towers project will be developed at the junction of Uhuru Highway and Kenyatta Avenue.

Furthermore, the NSSF Twin Towers project will see the Fund transform an idle prime plot into a landmark mixed-use skyscraper. Additionally, this building will redefine Nairobi’s skyline and cement the city’s position East and Central Africa’s regional commercial hub.

NSSF Managing Trustee and Chief Executive Officer David Koro stated that the decision to go vertical reflects both commercial logic and long-term planning for workers’ savings.

“That land has been idle for years and has not been giving contributors any benefit. It is valued at about Ksh.4 billion, and our objective is to unlock that value through redevelopment and sell the completed units to investors so the money flows back to the Fund,” Koros highlighted.

Tower A

Upon completion, Tower A will rise to 60 storeys. This will be approximately about 260 metres. making it the tallest building in both East and Central Africa.

Tower B

As for Tower B, it will stand at 35 storeys. This will be approximately 140 metres.

Facilities

The NSSF Twin Towers will host premium office space. Furthermore, it will have a business hotel, serviced residential apartments. Lastly, the building will have retail outlets and conference facilities, alongside an observation deck on the 56th floor and parking for about 1,150 vehicles.

Timeline

NSSF expects construction to take about three years. The ground-breaking of the project is planned for later this year once all regulatory approvals are finalised.

Contractor

The project will be constructed by China Road and Bridge Corporation (CRBC). This isa subsidiary of China Communications Construction Company.

Koros said the Fund is targeting a minimum return of 12 per cent, with potential upside depending on market conditions, reinforcing NSSF’s role as a long-term institutional investor.

Significance of the Project

Other than just returns, the Twin Towers projects signals a deliberate push to re-energise Nairobi’s CBD, which has increasingly become a daytime-only business district.

“We want people to live in the city again. When you introduce housing, hotels and retail into the CBD, business activity extends beyond office hours and supports a 24-hour economy,” Koros said.

If delivered as planned, the NSSF Twin Towers will not only unlock value from a dormant Ksh.4 billion parcel of land. Also, it will place Nairobi at the centre of the region’s race for vertical growth, with Kenyan workers’ savings literally standing tallest.

NSSF Twin Towers Project Factsheet

Project Name: NSSF Twin Towers

Location: Junction of Uhuru Highway & Kenyatta Avenue, Nairobi CBD

Developer: National Social Security Fund (NSSF) Kenya

Contractor: China Road and Bridge Corporation (CRBC)

Cost: Approximately $233 million

Estimated completion: 24 – 36 months from ground-breaking