Cabinet Secretary for Foreign Affairs and International Trade Amina Mohamed, U.S. Ambassador to Kenya Robert Godec and Kiambu County Governor William Kabogo commend American investment
Tatu City, the mixed-use, mixed-income urban development near Nairobi, has launched construction of its first residential phase, Kijani Ridge, marking a major investment milestone in Kenya.
An event marking the occasion was attended by Kenya’s Cabinet Secretary for Foreign Affairs and International Trade Amina Mohamed, Kiambu County Governor William Kabogo and U.S. Ambassador to Kenya Robert Godec.
A sales drive, assisted by lead Agent Nancy Muthoni founder of the Property Show Kenya, held in parallel to the ceremony and attracted over 100 buyers to Kijani Ridge, located above a reservoir on Tatu City’s rolling green hills. Tatu City will be home to more than 70,000 residents and 30,000 day visitors and create tens of thousands of jobs during its 20-year, phased development.
“We are pleased to bring American and other international capital to Kenya and Tatu City, a revolutionary urban development that eases the burdens of urbanization on Nairobi and creates unique living and business opportunities for families and companies in Kenya’s growing economy,” said Frank Mosier, the lead American investor in Tatu City and Rendeavour, the project owner.
Speaking at ceremony, Cabinet Secretary Mohamed 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.”
Commending Rendeavour and Tatu City’s investment, Ambassador Godec said the U.S. government is “proud that Tatu City has the backing of American investors … and the investment scale is really quite extraordinary when you look at it – $100 million, that’s Ksh10 billion, and that’s just to start. I think it is also particularly auspicious and important that this ground-breaking is occurring just a few days before the visit of President Barak Obama to Kenya, and of course the Global Entrepreneurship Summit,” he said, referring to the U.S.-backed initiative which will hold its annual event in Nairobi on 25-26 July.
Governor William Kabogo highlighted Kiambu County as an investment destination for Kenyan and foreign investors. “It is my expectation that [Tatu City] will serve to showcase my government’s commitment to well-planned and controlled development. If you are looking to invest in this sector, Kiambu County is the place to be – the place to grow, work and live in,” he said.
Rendeavour, Tatu City’s owner, is Africa’s largest urban land developer, with visionary projects in Kenya, Nigeria, Ghana, Zambia and Democratic Republic of Congo.