88 Condo Tower: Owner and Cost of Nairobi’s Tallest Residential Building Under Construction

 Over the last decade, the construction of high-rise buildings in Nairobi has reshaped the city's skyline, marking a transformative shift in its urban landscape. An artist's impression of the 88 Condo Tower in Nairobi. Investors have developed new towering architectural marvels, often housing offices, residential spaces, and commercial establishments. Why there's a real estate surge in Nairobi This has indicated a surge in real estate development and investment with Nairobi being crowned as the world's best city to visit in 2024. The property market in Kenya continues to boom, despite tough challenges like rising global inflation and the weakening of the shilling. A report released by Knight Frank showed that residential property grew at a rate of 3.77% annually. Knight Frank's head of residential agency Tarquin Gross attributed the growth to the continued rise of multinational investment in the country. "The market was buoyed by the entry of multinationals into Kenya as well as a calm electoral period,” said Gross. However, Knight Frank Kenya CEO Mark Dunford noted that the recovery levels had not yet hit the 2019 records. “Although performance has recovered markedly, the market is still below 2019 levels, the year prior to COVID and the year that saw the best hospitality industry figures,” said Dunford. Which is Nairobi's tallest residential building? Eighty-eight (88) Nairobi Condominium Tower will be the tallest residential building in Kenya and Africa upon its completion. The iconic tower, which costs approximately KSh 6.8 billion, stands at a height of 150 metres and features 48 floors. It has executive, executive plus, sky suites and a penthouse. The building has a sunset deck on its 34th floor. It was built on a one-acre parcel of land along Fourth Ngong Avenue in the Upper Hill neighbourhood of Nairobi. The building is approximately 3.5 kilometres southwest of the city's central business district. From its elevated position, residents can savour breathtaking panoramas of the city. It features one helipad, seven lifts, nine heated pools, 500 car parks and measures 610,000 square feet. According to Business Daily, apartments on the building will cost KSh 480,000 in rent monthly. Interested buyers will pay KSh 11.5 million for a two-bedroom apartment, while a three-bedroom will cost KSh 35 million. Who owns 88 Condo Tower? Lordship Africa, a Nairobi-based real estate investment and development firm, is the proprietor of the 88 Nairobi Condominium. The company is a subsidiary of the Lordship Group, a prominent real estate conglomerate with its headquarters located in Central Europe. Jonathan Jackson is the chairman of Lordship Africa and is the brains behind the tallest residential building in Kenya. "Jackson had a passion for design and a love for exceptional craftsmanship. His mission was to create a residential masterpiece that would not only match, but surpass international standards in both architecture and opulence," the company stated.