GTC eyes global brands as it opens

Kenya’s second tallest building, Global Trade Centre (GTC), has started ushering clients into its ultra-modern office spaces and apartments.

The firm said the renowned JW Marriott Hotel will also open in the complex in the third quarter of 2023.

The real estate firm, described on its website as “a landmark at day, a lighthouse at night,” owing to its design and imposing height of 184 metres will complement local businesses, according to Avic International Real Estate Kenya Marketing Supervisor Shamim Malowa. GTC reignited a race for the skies between Upperhill and the city’s central business district (CBD).

The GTC office tower is now the second tallest building in the country, only behind the 200-metre Britam Tower. It is equipped with 11 high-speed lifts. The hotel will offer 317 guestrooms and 51 serviced apartments, among other facilities.

Ms Malowa said the business improves the economy of Westlands and the city.

“We are looking to add value to the businesses around us. We liaise with and support each other. “If JW Marriott is fully booked, for example, we will refer our clients to (Villa Rosa) Kempinski and if Kempinski is full, we make arrangements so we can accommodate the guests,” she said during an interview at Kempinski on the sidelines of the East Africa Property Investment Summit.

Sceptics will be looking keenly to see how GTC performs amid fears that the real estate sector, which was rattled by Covid-19, might face an arduous journey to recovery.

Experts fear that office space uptake could also be slow as companies are still comfortable with the hybrid working models, allowing employees who can work from home to do so.

Empty spaces

Several buildings in Nairobi are struggling to attract renters despite them offering Grade-A office space. Some have been struggling since the pandemic began, others longer.

“We are not looking (at the situation) as if we have competition in the market because our design concept is different,” Ms Malowa said.

“We consulted and, true, there was concern that with the pandemic there was a lot of empty spaces, and why were we handed over in this period.” 

In a past interview with Real Estate, architect Moses Okemwa said he was encouraged by developers aiming for the skies, despite all the fears in the industry.

He said GTC, alongside other high-rise buildings in Westlands such as Delta Towers, One Africa Place and Dunhill Towers, would inspire other developers.

“It is setting precedence for both the developers and the practitioners in the building industry. We expect the GTC to inspire and create confidence in the industry – that this magnitude of project can be successfully undertaken,” Mr Okemwa said. “Already, we have seen such huge undertakings like the recently launched 50-storey G47 Ugatuzi Towers in Hurlingham, Nairobi.”

George Arabbu, chairman of the architects’ chapter of the Architectural Association of Kenya said precedence plays a great role in the determination of the buildings that come up in an area.

“You can see developers moving out into Westlands because they want to get near other companies that have taken their headquarters there. In essence, it becomes like a complete business area,” he said.

The CBD has also become inaccessible in recent times owing to traffic gridlocks that make entry and exit a struggle. Westlands might be the new hub for economic development.

“With the quality of services, upgrade in lifestyle with people doing top-class five-star dining, lifestyle will be impacted,” said Ms Malowa.

“Economic growth within Westlands will be massive, the kind of brands that will be coming to take up space at GTC will change the face value of Westlands as a business hub.”

GTC announced on February 25, 2022, that it had entered into a partnership with Knight Frank and CBRE Excellerate Kenya Ltd as leasing agents for the GTC office space.

AVIC International, the developer, said the building was “developed with a vision of bringing together global elites through catering to their demands across the business, residential, social and consumption”.

GTC is in the handover period, according to Ms Malowa. “Our clients are signing leases to move into their offices and apartments. GTC has office space which we are currently leasing for a minimum period of five years, and a retail mall (also leased out for a minimum period of five years).

“We also have apartments, which we are selling.”

She said they look forward to handing it over within the year in the second to the third quarter, with customers expected to start taking occupancy.

The GTC Boutique Mall will consist of independent four-storey retail and the bottom three-storey retail from the GTC Office Tower.