Property firm expecting a surge in business activity

Some of the biggest names in Kenya‘s property industry have come together to develop a premium piece of real estate worth Ksh.1 billion (US$12 million).

Workers busy constructing the Morningside Office Park

Workers busy constructing the Morningside Office Park

The Morningside Office Park is a five-storey executive office complex, located between Ngong Road and the Kilimani area in Kenya’s capital Nairobi. The building will be ready for occupation in November 2010.

“The project under development will feature five levels of office space, holding 30 executive and four penthouse office suites,” said the managing director of Morningside Developments Ltd, Geoffrey Luseno.

InvesteQ Capital, which focuses on providing growth and trading capital to SME’s in Kenya brought together several real estate developers, including Home Afrika and Morningside Developments, to form Suburban Limited which is undertaking the project.

Dan Awendo, CEO of InvesteQ Capital said in the next few years there will be a surge in the number of businesses operating in Kenya from the other East African countries, hence creating demand for modern offices.

Suburban chairman, Dr Mbira Gikonyo, said the project managers have put together some of Kenya’s leading professionals in architecture, quantity surveying, engineering and real estate to ensure the building’s aesthetics are impressive, eco-friendly and that financing is easily available.