Property developer Acorn is building two new hostels at the University of Nairobi (UoN) at a cost of Sh2.5 billion as it continues to expand its student accommodation portfolio.
The projects will be run by Acorn D-Reit, the unit which specialises in developing the hostels brands Qwetu which is the premium offering and Qejani for the mass market.
The project located at Chiromo campus is set for completion in the first quarter of next year. It will consist of 1,950 beds under the Qejani hostel brand while the Qwetu hostel will have 850 beds, bringing the total student accommodation capacity to 2,800.
“UoN is the first public university that we have partnered with this year,” said Edward Kirathe, the chief executive of Acorn Holdings.
“We will also partner with the Kenyatta University and JKUAT. Our partnerships will let them focus on their core mandate which is training and research.” – Business Daily
