Kerio Valley Development Authority (KVDA) has completed the second wing of a multi-million-shilling complex in Eldoret town and now eyes development of a skyscraper in Nairobi.
The Sh400 million 14-storey building is the third tallest in the town after the Moi University Pension Scheme Complex Tower at 26 storeys and the KVDA’s own Eastern Wing that stands at 16 storeys.
KVDA Chief Executive David Kimosop said the new wing has thousands of feet for office space and an international conference centre fitted with modern gadgets that can host more than 400 people.
“We are excited that the building has been completed and ready for occupation. We are soon opening it for clients after the modern lifts are fixed on the twin tower building,” he said.
“We now want to do a face-lifting of the old wing and position our building as the best office space for the corporate world. Already 60 per cent of the space has been booked and we hope that by the end of the year we will have achieved 90 per cent occupancy.”
The Eastern wing of the building was constructed over two decades ago.
“This project will increase our annual revenues to Sh140 million and help us implement more projects across our region,” said Mr Kimosop.
He said they had repaid Sh40 million of the debt to a local bank and project to complete the repayment in the next five years.
KVDA is mandated by law to initiate, co-ordinate and monitor implementation of programmes that transcend administrative boundaries within its area of operation.