15-floor Hazina Trade Centre to cost Sh4bn

Workers ‘saved’ Sh2.6 billion after the National Social Security Fund (NSSF) reduced the expansion of the Hazina Trade Centre from 39 floors to 15, a report tabled in Parliament shows.

The report tabled before the Public Investment Committee (PIC) in December shows that the move to cut the additional floors reduced the project’s cost from Sh6.7 billion to Sh4 billion.

Construction of the centre started in June 2013 and was to take 155 weeks. It however stalled on the fifteenth floor after the then anchor tenant, Nakumatt Supermarket, obtained court orders stopping construction of the tower.

PIC while extending the end date of the project that ended yesterday (December 31, 2019) directed NSSF to move with speed and ensure completion of the tower to forestall losses.

“The total contract cost of the project had been reduced from Sh6,715,218,188 to Sh4,095, 862, 434 following revision of the project scope to 15 floors…,” Abdulswamad Nassir who chairs PIC said in the report.