A new Sh1.3 billion, 25-floor building has been unveiled in Nairobi's Kilimani area with an eye on corporates seeking prime office space in a quiet location.
FCB Mihrab, a building with a striking Middle-Eastern architecture, has been unveiled to corporates and investors for business operations and leisure after 5 years of construction.
The developers are betting that location of the office space in an upmarket and fast-developing commercial area, close to Nairobi's CBD will entice corporates and investors fast.
However, the new business address at the junction of Lenana Road and Woodlands Roads, is not particularly keen to entice businesses dealing in alcohol, pork and gambling among others which are not in line with the ethical principles of the developers.
FCB Mihrab, developed by Mihrab Development Ltd a Kenyan based Real Estate Company, comprises 17 middle and upper levels of office suites and 4 Ground and Mezzanine levels of smaller-sized office suites.
MDL's Project Administrator, Farhiya Ibrahim revealed that 50 per cent of office space in the building has already been booked with the rest up for grabs for corporates and individuals seeking to establish their businesses operations or gain rental income.
"We are targeting corporates seeking a prime and busy but not crowded corporate address with good amenities to support their operations," she said during an investor's briefing last week to showcase the building and what it offers.
First Community Bank, which has a stake in MDL, has already moved its headquarters to the new address, vacating Prudential Assurance Building Wabera street in Nairobi.
"Shifting to our new address is part of our strategy to unify all our businesses under one roof to afford our clients convenience," said FCB Chairman Hassan Varvani, who is also MDL's Chairman.
Among FCB Mihrab's key business and leisure attractions include prime location, spacious office spaces with good views, an open sky terrace on the ground floor, a prayer hall, artificial moat, gym and outside cafeteria among others.
Asked about concerns of oversupply of office spaces in the city, Farhiya said there is no shortage of corporates seeking optimal and conducive locations for businesses.
"There are not too many grade A buildings in Nairobi. We think FCB Mihrab is one of them and attracting investors and corporates won't be difficult. This is not just another rectangle or square space," she said.
Varvani said the building enhances Nairobi's skyline with elegant architecture. It's floor layout takes on an intricate floral pattern. Mihrab is an Arabic term for prayer sanctuary.
According to information on MDL's website, care was taken to ensure that the source of the funds to purchase and develop the property was ethical and that only businesses they consider ethical would be allowed to buy or rent space in the building.
"Buyers must abide by the rules and regulations set up by MDL through the building management company, Mihrab Management Limited (MML)," it reads.
The building was initially being constructed as the headquarters of FCB but along the way, the developers decided to incorporate prime office suites to maximise on the space and returns of investments.
The building bills itself to have green credentials including its own water recycling and rain water harvesting facilities.