Student hostel developer Acorn has announced plans to construct a Kes 1.88 billion student hostel along Kijabe Street in Nairobi through Larch Properties LLP.
The Qwetu and Qejani residence models will be constructed on 0.7 acres with Qwetu comprising a lower and upper basement plus 16 floors with 555 housing units.
Likewise, Qejani will be built on an 18-story apartment comprising 630 student rooms.
“The total project cost will be 1,882,990,474 out of which 1,882,990 is payable to the authority (NEMA) being the sum of 0.1%,” an Environmental Impact Assessment (EIA) report submitted to the National Environment Management Authority (NEMA) reads.
All such projects in Kenya must undergo an environmental impact assessment (EIA) in order to guarantee that sufficient mitigation measures are taken into account during the design, construction, operation, and decommissioning phases, as well as any negative and substantial affects on the environment.
Despite shortage issues, there has been an increase in the demand for student housing across the nation.
Universities in Kenya need to expand because there is a shortage of around 350,000 beds, according to Shelter Afrique, a pan-African housing lender.
Investors have been building the above units for students near universities across the country to fill the gap.
Acorn owns brands such as Qwetu and Qejani in Nairobi.
