By Edna Mwende
I&M Bank has announced its plans to relocate its head office to a new age building christened 1 Park Avenue in Parklands area come August.
The bank will be relocating from its current location in the Central Business District (CBD) and will occupy two floors of the seven floors of the new building in Parklands area.
In a news report by the Business Daily, the relocation will see 15 percent of the lender’s staff moving to the new headquarters representing about 125 people.
The new age building which is located near City Park will be part of the real estate investment case for the bank’s property arm I&M Realty.
The Business Daily report points out that the I&M has partnered with Spanish construction giant Onyx Solar to construct the building’s skylight that will act as a solar panel to ultimately harness energy and consequently saving up on power costs.
“We have a huge skylight…basically this is a glass roof. Traditionally, you would put glass or you would put polycarbonate because you want to see through and you want light to come through. In this case it (solar power harnessing technology) is embedded in the skylight so you still get the full clarity, you can see the sky; but at the same time it is generating power for you so it is called Building Integrated Photovoltaic glass roof,” the General Manager of Strategy and Transformation at I&M Shameer Patel is quoted by the Business Daily.
Mr. Patel is further quoted as having said that: “As part of the tenancy uptake, the bank will also have a branch within the new premises in addition to relocation as well as moving some of its offices,”
Though the listed bank declined to disclose the cost of the new investment; the installation has the potential to produce 111,359 KwH of electricity annually and will be Onyx Solar’s third installation in Africa.