According to the BDA, The Local Authorities Pension Fund (Lapfund) plans to build a Sh10 billion mall in Nakuru city as it moves to diversify its revenue streams.
The fund has revealed in an environmental and social impact assessment study report that the facility will comprise a five-star hotel, a modern warehouse block, an office block, a petrol station, a kindergarten and residential apartments as well as an amusement park.
The development that will sit on its land off Nakuru-Kisumu road will be constructed in phases with priority given to those that will yield quick returns on investment.
“The total estimated cost for the project is approximately Sh10 billion. The project upon approval will be divided into phases. The duration of these phases will be determined on the priority of installations to be put up,” says Lapfund in the report submitted to the National Environment Management Authority in May for approval.
The site neighbours Brookside Dairy, Nakuru Rural Water & sanitation, National Cereal and Produce Board and Menengai oils.
The location where the project will sit is currently occupied by depots formerly used by Eveready that will be decommissioned and proper disposal of asbestos done after approvals. via Business daily Africa