Industrial and Commercial Development Corporation (ICDC) is targeting foreign guests and multinationals undertaking overseas assignments in Kenya to occupy its new apartments at the Coast. The corporation has said the large number of business conferences, seminars and foreign firms seeking to prospect for new businesses in the East African market will boost uptake of units for its newly-built Nyali-based Zamia Heights apartments in the coming months.
ICDC Acting Executive Director Mr Kennedy Wanderi said demand for accommodation brought about by tourism both local and international, leisure and business travel has been on an upward trend. He said Zamia Heights offers prospective buyers flexibility of converting the development into serviced apartments, holiday and family homes or for rental.
“A large number of conferences and seminars take place in the Nyali area, making Zamia Heights ideal to offer apartments for those who attend these activities or foreign corporates looking for business opportunities in the region, “said Wanderi.
The shift in preference of apartments to hotels is being driven by expatriates attracted into the country by its position as a regional hub for East and Central Africa and attractive tourist destinations. ICDC’s Ksh415 million development consisting of 28 executive modern apartments is located on 5th Avenue off Mahesh Doshi Road behind City Mall within Nyali in Mombasa County.
The site is a serene environment with proximity to facilities including Nakumatt City Mall, schools, golf club and the city centre. It has a mix of two and three-bedroomed apartments, with two-bedroomed units going for a low of Ksh13 million and three-bedroomed units from Ksh16 million.
The apartments located in one of Mombasa’s prestigious neighborhoods, have views of the Indian Ocean from the fourth Floor and are suitable for holiday homes, buy-to-let and rental.
The corporation is also targeting individuals seeking to invest in family and holiday homes or for rental with architectural design that is visually appealing and yet pleasantly practical. Prospective buyers are required to raise a 20 percent deposit for the property with the Corporation ready to finance the balance of 80 percent over a period of 10 – 15 years.
