In July this year, the construction of Tatu City, a multi-billion real estate development in Kiambu County kicked off, signalling a boon to the housing industry in Kenya. The real estate industry in the country has been growing exponentially since 2004, supported by the new NARC regime. But the breaking ground of Tatu City construction, after some give years of tussles, signaled a new dawn for the country.
This housing development is unique. It is a 2,500-acre, mixed-use and mixed-income development with residential, commercial, industrial, tourism, social and recreation amenities for more than 70,000 residents and 30,000 day visitors.
In addition, the main developer Stephen Jennings has global experience. Jennings has investment banking experience in New Zealand, Australia, USA and emerging markets of Russia, Eastern Europe and Africa. He is a pioneer of capital markets in Central & Eastern Europe and Africa, responsible for over $200 billion of investment into these regions.
Mr. Jennings is the founder and CEO of Rendeavour Group. Rendeavour is Africa’s largest urban land developer with over 30,000 acres of visionary projects in the growth trajectories of large cities in Kenya, Ghana, Nigeria, Zambia and Democratic Republic of Congo.
Urban development lies at the core of Tatu City. Underlying Tatu City’s design is a visionary concept aiming to shift urban development in Kenya from the familiar single node model to a decentralized urban environment. By doing so, Tatu will significantly de-congest the City of Nairobi by offering a unique live, work and play environment.
Rendeavour’s vision goes beyond alleviating what is a self-evident problem, that of stifling urban congestion and a dearth of quality housing and commercial property in Africa. The company aims to help create the infrastructure – the living and working spaces, communities, schools and hospitals – that will help sustain and accelerate Africa’s economic growth, meet the aspirations of Africa’s burgeoning middle classes, and serve as a catalyst for further urban development.
During the launch of the project, US Ambassador Robert Godec, Foreign Affairs Cabinet Secretary Amina Mohammed and Kiambu Governor William Kabogo were among the guests, indicating the significance of the project to Kenyans, the US government and the world at large. The CS said
“We as a government are about attracting investment, creating jobs, creating opportunities and, of course, creating wealth. So for us, Tatu City is a showcase of the investment Kenya can really attract into the country.”
The global fete of Mr. Jennings is something Kenyans should look up to making Tatu City a real, unique and first of its kind private municipality. Stephen founded the Renaissance Group in 1995, to build investment banking, securities sales and trading, asset management, and consumer finance businesses across Central & Eastern Europe, Asia and Africa. Producing more than 3,000 research reports on Africa, Renaissance’s notable achievements on the continent include the first Initial Public Offers (IPOs) on several African exchanges.
Renaissance has since set up subsidiaries in several African countries, including Kenya, where it is one of the 20 stock brokerage houses at the Nairobi Securities Exchange.
It is the location of Tatu City that is also strategic. It is located within Kiambu County, near Ruiru town, off the Thika Highway. It is 30 minutes from Nairobi City centre and 40 minutes from Jomo Kenyatta Airport. This location, makes it ideal in promoting the decongesting of the city of Nairobi also ideal for urban development.
In addition, Tatu City is aligned with the vision of the Nairobi Metro 2030 Strategy, and part of Kenya Vision 2030.
So far, Kijani Ridge is the first residential phase of Tatu City. It aspires to be a premier gated community with spacious individual serviced plots. It offers naturally exclusive urban living for you and your family. A range of half acre and quarter acre plots are also available on a land parcel of 150 acres. With no reservation charges for booking and mortgage providers on hand to help with funding, owning your dream house, could not be easier and nearer.
Tomorrow, 17th September 2015 at 6.00pm, there’ll be an event featuring Rendevour and Tatu City at Louis Leakey Auditorium at the National Museums of Kenya. Attending is the first step to getting a good picture of how the development is set to make urban development better.