Home buyers have shown strong interest in Tatu City’s residential phase, Kijani Ridge, snapping up 65% of the plots since the official launch in July 2015.
Speaking during the Kijani Ridge Open Day held over the weekend, Nick Langford, Country Head for Rendeavour, Tatu City’s developer, said the demand for serviced plots at Tatu City continues to rise.
The event attracted over 350 potential buyers to Kijani Ridge, who got a chance to select their ideal plot, interact with architects to discuss details of designing a house, and chat with banks about financing options.
“We have been selling an average of 10 plots a month since January this year and the demand continues to grow. We have also processed more than 40 leases this year. At present a quarter acre is selling at Ksh 8 million and half an acre going for between Ksh12.5 million and Ksh14 million,” Mr. Langford said.
Construction of a perimeter wall around Kijani Ridge is nearing completion. Infrastructure like sewerage, power and water have reached Tatu City’s boundaries, and the internal construction road network is extensive.
“We expect those who have already bought land to begin construction by July this year and we are making sure that all the necessary infrastructure is in place before then,” Mr. Langford said.
The company has set aside 256 acres of land to develop residential units to cater to more than 100,000 residents expected to live in the city. It has also established a 420-acre industrial park for companies.
Tatu City is a 2,500-acre, mixed-use and mixed-income development with residential, commercial, industrial, tourism, social and recreation amenities for more than 100,000 residents and 30,000 day visitors. 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.