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Knight Frank to manage new industrial park

CARTOON
By | September 23rd 2009

By Morris Aron

Leading real estate and property manager, Knight Frank, has won the hotly contested bid to manage and lease the multi-billion Sameer Business and Industrial Park.

Knight Frank beat four real estate companies that expressed interest in managing the facility, after evaluations on experience and expertise came out in favour of the firm.

The Sh2.2 billion park—due for completion in the first quarter of 2010—will house modern offices, a showroom and retail space.

The park will comprise five units totaling an estimated 400,000 square feet.

Two will be double storey units, designed for showroom, and multi-storey units offering a flexibility of combined showroom and office space.

Investment destination

"The development of this hi-tech park will go a long way towards making Kenya more competitive in the Information Communication and Technology industry," said Michael Karanja, the Sameer Managing Director.

The building’s completion has been timed to capitalise on high speed connectivity following the recent landing of fibre optic cables at the Mombasa making country the preferred investment destination for ICT-related industries.

The second phase of the complex will see development of modern hotel and conference facilities next to the park on Mombasa Road, Nairobi.

"We will bring on board our core competence of agency, property management, valuation, professional and consultancy services spanning many years, in 43 countries around the globe," said Mr Ben Woodhams, Knight Frank Managing Director.

Prime market

Knight Frank Kenya manages more than 400 prime market residential units and more than 1,500,000 square feet of commercial property, controlling the upper end of the residential and commercial markets.

Among the properties under management by Knight Frank are the upmarket Westgate shopping mall, Nairobi Business Park, Capital Centre and newly opened T-Mall on Nairobi’s Langata Road.

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