KCB Group signs Ksh1.9 Billion expansion deal with Ole-Sereni

KCB Group and Placid View Properties Limited, owners of the Ole-Sereni Hotel have signed a Ksh1.9billion deal that will see the bank fully finance the second expansion phase of the 5 Star hotel.

The deal is part of the KCB’s Asset Based Financing portfolio that supports structured partnerships geared towards according our customers greater efficiency and satisfaction.

Speaking during the signing ceremony, KCB Chief Business Officer & MD Kenya Sam Makome, said KCB has the ability to bankroll such initiatives given its financial muscle to drive growth of businesses in Kenya and the region at large.

“KCB Group believes that it is only through strategic collaborations with various industry players that will enhance the provision of services to their clientele. This partnership cements our resolve of being a world class provider of financial services to advance the development of various projects,” Mr. Makome said.

Ole-Sereni, is situated on the busy Mombasa Road overlooking the Nairobi National Park where visitors are able to have breathtaking views of the park when at the facility.

This new development will offer a fine blend of African and modern deco; fine finishes and impeccable design. Exclusivity and convenience will be the hallmarks of this hotel. This venue will be home to the Grand Hall, which is able to host up to a sit down event for 800 people or entertain up to 1000 guests. Offering 154 rooms, which will be a combination of guest rooms and service apartments. An ‘All day Dining’ restaurant and an ethnic restaurant offering middle-eastern cuisine. This development will surely be a show-stopper and a one-stop hospitality destination for the business traveler.

“I am happy to note that once the project is completed, the new facility will offer unparalleled product and services that will position the hotel as a preferred destination for visitors looking at getting value for their money. Its prime location that will allow visitors to have a panoramic view of the city and the National Park ” said Ghulam Samdani, the General Manager of Ole-Sereni.

KCB Group and Ole-Sereni have been partnering since 2009 when the bank financed the renovation of the hotel. The collaboration has enabled both entities to mutually benefit from each other through enhanced product offering.