US embassy opens multi-million-shilling Nairobi estate

US embassy opens multi-million-shilling Nairobi estate

A diplomatic housing project developed for the United States embassy in Nairobi has been inaugurated. Rosslyn Grove, a 29,762 square meter residential estate, comprises a mix of apartments, townhouses, a state-of-the-art clubhouse with a gym, a swimming pool, play areas, walking and running tracks as well as other amenities.

The housing project has been developed by three companies, two foreign and one local. These are US-based Verdant Ventures, Mauritius-based Gateway Real Estate Africa (GREA), and the landowner, Balozi Holdings. Rosslyn Grove marks the second successful diplomatic residential development between Verdant Ventures and GREA. Elevation Residences, a 10-story, 112-apartment residential tower located in Addis Ababa, Ethiopia, was completed and handed over in November 2021.

Verdant Ventures expressed pride in delivering its second Diplomatic Housing project in Africa in less than 12 months and having the US government as a key tenant in both projects. “Rosslyn Grove’s successful completion is yet another demonstration of our team’s ability to deliver projects that meet or exceed OBO’s (Overseas Buildings Operations) design standards,” said Verdant Ventures CEO Tim Redman.

He said Africa is considered the continent of opportunity with governments, international companies, and organizations increasingly interested in establishing a long-term presence in key, high-growth locations.

Rapid urbanization

“Driven by thriving economies and rapid urbanization, the investible African real estate opportunity has expanded substantially in the last decade, well beyond traditional key markets. We have developed a successful track record and reputation as one of the continent’s top developers which have led to a pipeline of attractive development opportunities,” he said.

Greg Pearson, CEO, and co-founder of GREA noted that the project had overcome many challenges resulting from the Covid-19 pandemic.

“We are thrilled to hand over such a high-quality asset to the US Department of State’s Overseas Buildings Operations, despite significant supply chain challenges as a result of the pandemic. Notwithstanding these headwinds, I am proud to say that as a result of our strict on-site safety protocols, we didn’t lose a single day of construction as a result of site closures due to the virus,” he said.

By Lewis Njoka




Add Comment