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Suresh Bhagwanji Shah to Build $22 Million Hospital in Kenya

NBP Holdings, a property investment company acquired by MTZ Holdings in January and owned by Kenyan banker Suresh Bhagwanji Shah, is planning to build the “World Trade Centre Hospital” on Ngong Road’s prominent Nairobi Business Park for Ksh3.24 billion ($22 million).

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This ambitious project, supported by a National Environment Management Authority (Nema) environmental and social impact assessment study, is set to provide sophisticated medical services to Nairobi County.

The hospital, which will have a planned capacity of 150 beds, will be built on a prime 2.5-acre plot of land within the Nairobi Business Park along Ngong Road. It is expected to provide a variety of specialist medical services, making it an important addition to Kenya’s healthcare sector.

The proposed project’s estimated cost of $22 million includes a 16 percent value-added tax (VAT), according to the Nema research. The facility has two basement floors, a ground floor, and an outstanding five additional floors, demonstrating its commitment to delivering complete healthcare services.

NBP Holdings purchased the facility in the previous year for more than Ksh2 billion ($13.5 million) and has chosen to rebrand it as the “World Trade Centre Hospital.” This advantageous position will put the hospital next to the Grade A office building at Nairobi Business Park, which MTZ Holdings also purchased earlier this year.

MTZ Holding, NBP Holdings’ parent business, is a newly founded investment holding company. It is owned by three companies that own a majority position in Nairobi Securities Exchange-listed I&M Group Plc.

Minard Holdings has the largest shareholding (21.6 percent), followed by Tecoma Limited (18.4 percent) and Ziyungi Limited (17.8 percent). They own 57.8 percent of I&M Holdings, which has a market value of more than $130 million.

Suresh Bhagwanji Shah, a prominent person in Kenya’s banking business known for founding I&M Group, oversees the operations of these three companies.

The “World Trade Centre Hospital” project is planned to assist to the growth of Nairobi Business Park as a multidimensional hub by supplementing its existing commercial offerings with world-class medical services.

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