Acknowledging the value that real estate offers in relation to a multi-asset portfolio, JKUAT Staff Retirement Benefit Scheme (JKUAT SRBS), 3 years ago ventured into the construction of Grade AAA office Space in Kilimani, Nairobi. The building christened: One Padmore Place is part of an initiative to diversify JKUAT SRBS investment portfolio and cushion the University’s Pensions Fund against the volatile market.
Chief Administrative Secretary, Ministry of Education, Mr. Simon Kachapin, congratulated those involved in the project saying, “the new state of the art building has not only changed the skyline of Kilimani area, but has also diversified the JKUAT Staff Retirement Benefit Scheme investment portfolio.”
Moving forward, he urged the Scheme’s Board of Trustees to create awareness on member financial wellness that includes Personal Financial Planning and also on the benefits of Additional Voluntary Contributions (AVC) given that the cost of living is always going up by the day.
“This will indeed ensure that your members walk into the future with confidence and dignity creating maximum sustainable value for members,” said Mr. Kachapin during the official opening of the building.
The Chair of Council, Prof. Paul Kanyari, said he was pleased that JKUAT SRBS had been established under the highest quality standards for workplace defined contribution schemes and its Board of Trustees was already providing efficient and effective services to the members.
On her part, Vice Chancellor, Prof. Mabel Imbuga acknowledged that the world over, pension schemes are an important component of staff social protection systems and lauded JKUAT SRBS for initiating a project that would create the maximum sustainable value for members through prudent investment of funds.
“I am glad to note that the JKUAT Staff Retirement Benefit Scheme is looking at infrastructure as part of their efforts to focus on investment opportunities that have low correlation with equities and bonds, and which can provide a steady and attractive long-term return,” Prof. Imbuga, observed.
The project targeting AAA clients as per the Grading of the building, has a total built up area of 181,000 sq. ft. with total carpet usable office areas, exclusive of common areas, of 160,300 sq. ft. It also comprises of 4 basement levels (parking), a ground floor and 14 upper office levels with an offer of 453 parking bays.
The building offers open plan spaces that allow for efficient and flexible planning of work spaces and corporate retail services with fully fitted washrooms and kitchenettes on the ground floor and each subsequent floor. In addition, there is provision for private washrooms within executive office spaces.
The building amenities include 4 high speed passenger lifts, main electricity supply and standby generator, efficient water supply, with connection to an onsite borehole and storage tank.The JKUAT SRBS is led by a Board of Trustees comprising of Mr. Maurice O. Onyango, Eng. Justus A. D’Oketch, Dr. Joseph Obwogi, Mr. Titus Wasike, Esther N. Mwani, Prof. Zachary A. Gariy, Ms. Vivian Nyambura, Jeremiah Kimani and Wilfred Obara and Fredrick Nzui.