Diamond Plaza 1&2 Commercial Office 300-unit For Sale in Parklands, NairobiDiamond Plaza I & II is a landmark mixed-use commercial development strategically positioned in Nairobi's Upper Hill district, recognised as the city's premier institutional-grade commercial submarket. The complex spans a combined 550,000 square feet of gross leasable area across two purpose-built towers, comprising premium office floors, ground-level retail concourses, structured parking, and ancillary amenity space.

Diamond Plaza I & II represents a rare, off-market opportunity to acquire 550,000 square feet of premium Grade A mixed-use commercial real estate in Nairobi's most coveted upper-end business district at a basis that is materially below replacement cost. At a going-in price of $130 per square foot against a replacement cost exceeding $220 per square foot, the acquisition provides immediate embedded equity and substantial downside protection. This transaction is structured to deliver returns that exceed conventional U.S. gateway market benchmarks by 400–500 basis points on an IRR basis. The investment rationale is anchored in three interconnected dynamics: (1) Kenya's macroeconomic outperformance relative to peer frontier markets, (2) a structurally constrained supply of premium office and retail space in Nairobi's Central Business District (CBD) and adjacent nodes, and (3) meaningful rent reversion potential, with in-place rents of $7.73 per square metre per month tracking at a 45% discount to achievable market rents of $14.00 per square metre per month. ▸ Entry at $130/SF vs. $220+ replacement cost — 41% discount creating immediate margin of safety ▸ Day-one cash-on-cash yield of 6.2% versus 4.0% prevailing in comparable U.S. gateway markets ▸ Rent reversion of 81% from current $7.73/sqm to market $14.00/sqm over the hold period ▸ Kenya GDP CAGR of 5.6% (2024–2030E) driving sustained occupier demand (McKinsey Global Institute, 2024) ▸ Exit at $121.9M at a stabilised 5.5% cap rate in Year 7, generating $83.3M total profit (upside scenario) ▸ Conservative IRR of 8.0% with equity multiple of 1.59× provides institutional floor case