Commercial Projects
Work Resumes at Tatu City After a Four-Year Hiatus
The project is back on track after months of re-assessment of its development strategy.
Construction of Tatu City, a 2,500-acre residential complex in Kiambu County, is back on track after lengthy legal wrangling that put the Sh220 billion project on hold for four years.
The development, which is pitched as Kenya’s first privately managed city, was launched in October 2010 but shortly stalled due to fierce ownership wrangles and court cases.
According to Lucas Omariba, the chief executive of Tatu City Ltd., the project is now back on track after months of re-assessment of its development strategy.
“I am happy to inform you that we have now commenced development of infrastructure for the first two phases of our development,” Mr Omariba said in the Tatu City’s maiden newsletter edition.
The company has contracted Sinohydro Tianjin Engineering Co. to build access roads for the initial phases of the project, which will be followed by civil works to service the plots before the end of the year.
Tatu City plots are priced at Sh23 million per acre. Some 18 five-acre plots are on sale in the 250-acre park, which is one of the first two phases of the project whose construction has started.
RELATED: Korean Firm, Unity Homes Ink Deal for Tatu City Houses
The other portion is Kijani Ridge, a 150-acre gated community, whose serviced plots have been on sale to individual developers since April.
The quarter-acre and half-acre plots in Kijani Ridge, with leasehold titles, are being sold at Sh7 million to Sh13.5 million, respectively – inclusive of a five-year service charge.
The 11 phases of the project, which is located 15km northeast of Nairobi on a 2,500-acre parcel of land behind Kenyatta University, are expected to be completed in 8-11 years depending on demand.
Tatu City is sponsored by Renaissance Partners, the investment arm of Russian Renaissance Capital Financial Holdings Ltd., alongside Vimal Shah of Bidco Oil Refineries, former CBK governor Nahashon Nyaga, and a few other shareholders.
It is anticipated that about 65,000 people will live and work in the private city which is also expected to record an estimated 30,000 daily visitors.
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