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The founders of I&M Group are set to build a Sh3.24 billion hospital on Ngong Road’s Nairobi Business Park, Kenya, which they acquired last year for more than Sh2 billion.
The founders of I&M Group are set to build a Sh3.24 billion hospital on Ngong Road’s Nairobi Business Park, Kenya, which they acquired last year for more than Sh2 billion.
Disclosures in an environmental and social impact assessment study commissioned by the National Environment Management Authority (Nema) on the project show that the facility to be known as the World Trade Centre Hospital, will have a capacity of 150 beds. The hospital will be next to the Grade A office block at the business park, which is situated near the Ngong Race Course.
The multi-specialty hospital is on an approximately 2.5-acre piece of land. The total estimated cost of the proposed project is Sh3.24 billion inclusive of 16 percent value-added tax (VAT). The proposed hospital will feature two basement floors, ground, and five floors.
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The investment vehicle is held by three firms—Minard Holdings, Tecoma Limited, and Ziyungi Limited— that also have a majority stake in the listed lender. Directors of the three firms include Suresh Bhagwanji Raja Shah who is a founder of the bank. The proposed hospital will be close to the affluent Karen suburb, and access to it will be boosted by the recent dualling of Ngong Road. The facility will continue a trend of healthcare providers setting up closer to their target populations as they seek a larger share of the growing healthcare spending from the growing middle class.
