A multi-billion diplomatic residential development has been handed over to the US Embassy.
Ushering in diplomatic-targeted real estate, Rosslyn Grove is a 29,762 square meters (m2) townhouse and apartment complex and was developed by US-based Verdant Ventures, Mauritius-based Gateway Real Estate Africa (GREA) in conjunction with landowner Balozi Holdings.
Investors are looking to tap into the demand for a diplomatic level and high-security residential estates in Nairobi with the regional financial hub having over 80 foreign diplomatic missions.
The housing project, located in the prime Gigiri area, comprises a mix of 90 apartments and townhouses and has a state-of-the-art clubhouse with gym, swimming pool, play areas, walking and running tracks as well as other amenities.
"Verdant Ventures is proud to deliver its second diplomatic housing project in Africa in less than 12 months and to have the US government as a key tenant in both projects," said Verdant Ventures chief executive Tim Redman.
Greg Pearson chief executive and co-founder of GREA added that despite significant supply chain challenges owing to the pandemic, timelines had been met.
"Our focus on making use of local professional services and contractor staff, alongside our procurement policy of sourcing local material, shielded us to a large extent from the current prevailing international supply chain challenges," said Pearson.
Balozi Holdings director Peter Gethi said that the project had not only raised the bar for the neighborhood and Nairobi as a whole.
The development of Rosslyn Grove created an estimated 1,100 direct job opportunities and a further 500 indirect jobs over its 30-month development timeline.
Its masterplan is designed to provide extensive areas of green open space which are seamlessly integrated into the design.
Redman said that Africa was a key investment destination with governments, international companies and organsations increasingly interested in establishing a long-term presence in key, high-growth locations.
"Getting started or expanding activities in Africa requires state of the art infrastructure - bespoke facilities, offices and housing. Our team is dedicated to providing real estate solutions to corporations and governments on the continent," said Redman.
Rosslyn Grove marks the second successful diplomatic residential development between Verdant Ventures and GREA, with Elevation Residences, a 10-story, 112-apartment residential tower located in Addis Ababa, Ethiopia completed and handed over in November 2021.
