Construction works at the Tatu City in Kiambu are set to begin soon following some critical approvals to kick start the project. National Environment Management Authority (NEMA) is the latest to approve of the project following Ruiru Municipal Council approval earlier. The project divided into 11 phases will start off the first phase this month. The phase one will involve the construction of major facilities in the city such as residential,offices, roads and others.
“Besides the residential area, phase one – sitting on 168-acres of land, will include shopping malls, hotels and offices. It will also include construction of roads, water, sewerage, electricity and probably piped gas,” said Arnold Meyer, Renaissance Partners’ managing director for real estate in Africa.
The Sh240 billion development is located 15km north-east of Nairobi on a 2,500-acre parcel of land. Its design will allow for the housing of 62 000 citizens, with a projected 23 000 visitors every day. It’s also expected to create thousands of new jobs for Kenyans and continue creating them as it grows in both size and stature.
The ultra-modern city is half owned by Moscow-based Renaissance Partners, the world’s leading emerging markets investment bank while the other fifty per cent is shared among both local and foreign investors including the former CBK governor Nahashon Nyaga.
It will be privately managed through the Property Owners Association, to which all property owners belong, with state of the art utilities and public transport. The project is expected to be completed in 8-11 years depending on the demand.
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