(CNN) Kenyan President Uhuru Kenyatta recently laid the foundation stone for what will be the tallest building in Africa, “The Pinnacle”, in the Upper Hill neighborhood of Nairobi. Construction is underway at the development site and slated for completion by December 2019.
The Pinnacle has heavyweight backing in the shape of Dubai-based investors Hass Petroleum and White Lotus Group, which are ploughing around $200 million into the project.
The contract to build the towers has been awarded to China State Construction Engineering Corporation (CSCEC), which is among the world’s largest construction firms and has delivered a string of major projects including the African Union headquarters in Ethiopia and the Beijing National Aquatics Centre.
The complex will house a 255-room Hilton Hotel, the luxury chain’s third in Kenya and 50th in Africa. The towers will also include elite residences, business and leisure facilities, and a helipad on the roof of the taller tower.
Stakeholders are confident that the development has found the right location.
“Whatever happens in other parts of the world can happen in Africa as well,” says Abdinassir Hassan, chairman of Hass Petroleum and managing director of the project. “Nairobi is a hub for East and Central Africa. Why would we go anywhere else?”
Hassan says there is already a clamor for properties on the site, and that this will be “the first of several developments in Kenya” for his company.
Hilton executives are also bullish, noting in a statement that the Upper Hill area is now home to offices of major international businesses and organizations including Cisco Systems and the World Bank.