Nine people died after a crane collapsed at a high-rise construction site belonging to Acorn in Hurlingam, Nairobi.
The regulator earlier said it had suspended works at the two hostels' building sites pending conclusion of the investigations.
Acorn raised Sh2 billion from bond investors to develop two new properties mid this year.
A professional negligence probe on contractors at two building sites in Nairobi owned by student hostels developer Acorn Holdings after the death of eleven people is nearing completion, the construction regulator says.
Nine people died after a crane collapsed at a high-rise construction site belonging to Acorn in Hurlingham in Nairobi developed by Chinese contractor Zhejiang Chenjian Construction (Africa).
Earlier in March, two people died and two other labourers suffered injuries in a site accident at a separate Acorn's project near the United States International University Africa (USIU-Africa) developer by Wadia Construction Company Limited.
"They (investigations) have not been finalized," the National Construction Authority (NCA) executive director Maurice Akech said in response to Daily Nation queries.
"They are at different levels. One is nearing completion the recent one is still far."
The regulator earlier said it had suspended works at the two hostels' building sites pending conclusion of the investigations.
NCA had said works at the two sites belonging to Acorn, known for its students' accommodation brands Qwetu and Qejani, will resume only after the probe on separate accidents on the sites is concluded.
"(Construction will not resume) until investigations are completed or at the end of preliminary investigations," Mr Akech said earlier.
"We are doing joint investigation through multiagency committee. The investigation report once finalized will give findings on the root cause and recommendations on actions against any culprits."
Mr Aketch had earlier said the contractors in both Ruaraka and Hurlingham hostels' building sites will face prosecution if professional negligence is proven in the separate probes.
"Penalties for contractors include subject to recommendations of investigation may include caution to the contractor, suspension from the register, deregistration and deletion from the register or criminal prosecution," he said.
Among other parties in the latest probe include Engineers Board of Kenya, (EBK), Board of Registration of Architects and Quantity Surveyors (BORAQS), Directorate of Occupational Safety and Health Services (DOSHS) and the National Disaster Management Unit (NMDU).
Following the latest site accident, Acorn said in a statement: "Health and Safety remains a top priority at our organization and we undertake to work with all relevant authorities to carry out an exhaustive investigation into the cause of this accident."
Acorn raised Sh2 billion from bond investors to develop two new properties mid this year.
This was the latest fundraising for Acorn, which raised Sh4.2 billion through a corporate bond in October 2019.
Acorn has been pursuing a strategy of building modern student accommodation facilities near universities. The firm has already completed three hostels in Parklands, Ruaraka and along Jogoo Road.
It charges between Sh15,000 and Sh16,500 for a room on the premium Qwetu brand, and between Sh7,500 to Sh12,500 under the Qejani brand.
The development of commercial students’ hostels takes away accommodation burden off learning institutions while giving investors an opportunity to develop competitive units.
The firm in February quoted its two Real Estate Investment Trust (Reit) products worth Sh7.5 billion at the Nairobi Securities Exchange’s (NSE) recently opened unquoted securities platform.
