Kenya: Tatu City construction to resume
Construction of Tatu City has begun after wrangling delayed the project for four years. Tatu is a residential complex on 2 500 acres of land15 kilometers away from Nairobi, and will be the first privately managed city in Kenya.
Chief Executive of Tatu City Ltd, Lucas Omariba, said this week, “I am happy say we have commenced infrastructure for the first two phases of our development.” Access roads to the city will be built by Sinohydro Tianjin Engineering Co.
Apparently, those wishing to participate in project development will have an opportunity to purchase space at US$258,137 per acre. Already, 18 five-acre plots are available for buyers. Individual developers will also have access to a 150-acre gated community, the Kijani Ridge, one of the planned portions of the city.
Tatu City will be constructed in 10 phases until 2022, when it is set for completion. The mixed-use satellite city will house 77,000 residents. It will be a decentralised urban centre.
The plan is a partnership venture between Renaissance Partners, the principal investing arm of emerging markets firm Renaissance Group and Kenyan investors.