Real Estate firm Acorn Holdings confirmed the suspension of the construction of the student hostel near the United States International University-Africa (USIU-Africa).
The site was nearly complete, with the super-structure already taking shape. The project, part of the Qwetu hostels, is expected to be completed by May 2021.
The two labourers were reported to have sustained critical injuries while at work. However, the cause of the injuries was not established, forcing the real estate firm to launch investigations into the matter.
“They are casual labourers who had come to look for employment from the contractor who is in control and possession of the construction site until completion and handover to us, Acorn.
“It will take not more than four weeks to complete investigations and reopen the site,” the firm told Business Daily.
The hostel is targeting students who will pay between Ksh 7,500 and Ksh 16,500 depending on the room rented.
Real estate agents are switching focus to hostel construction in a trend that’s picking up in Nairobi and its environs.
On Saturday, March 20, Student Factory Africa partnered with a Dutch-based private equity firm to launch a hostel project next to the Catholic University of Africa in Karen.
The 4,500-bed student accommodation was estimated to cost Ksh 5 billion. Students will pay between Ksh10,000 and Ksh18,000 per month for the rooms.
“The universities have been asking for it. And it is just that investors have not been able to tap into that market,” Christopher Osore CEO/Director Student Factory Africa Limited said.
Source: KENYAGIST.COM
