Mwembetayari
JF-Expert Member
- Feb 21, 2012
- 331
- 125
Groundbreaking for the Sh12.4billion Garden City project, which is located along Thika superhighway, will take place in December according to its owners.
London-based private equity firm Actis has announced that construction work on the mixed use development will start in December with completion targeted for May 2014.
The 32-acre development, whose construction will be led by Nairobi-based Mentor Management, will consist of a 50,000 square metres shopping mall (the biggest in East Africa), 500 housing units and a 4-acre central park with an outdoor house arena for staging events.
According to Actis Head of East Africa Michael Turner, Garden City provides a rare opportunity to make a world-class development directly serving the needs of Kenyan businesses, shoppers and home-owners.
"We have been encouraged by the strong demand shown by both local and international retailers, who like us see Garden City as a landmark destination in Nairobi and the East African region," Mr Turner said.
Actis has a good track record in retail development in East and West Africa having built ten multi-billion shopping malls in seven African countries since 2004, including The Junction shopping mall in Nairobi.
Garden City becomes the latest real estate development along the new Nairobi-Thika highway. Other notable firms that have eyed investments along the highway include European furniture chain IKEA, Nakumatt and Uchumi supermarkets as well as PepsiCo which is putting up a Sh2.4 billion bottling plant.
The busy highway has also attracted residential property developments including the Sh2.5 billion Tatu City,Thika Greens, Migaa Golf Estate, among several others.
Garden City Groundbreaking Set For December
London-based private equity firm Actis has announced that construction work on the mixed use development will start in December with completion targeted for May 2014.
The 32-acre development, whose construction will be led by Nairobi-based Mentor Management, will consist of a 50,000 square metres shopping mall (the biggest in East Africa), 500 housing units and a 4-acre central park with an outdoor house arena for staging events.
According to Actis Head of East Africa Michael Turner, Garden City provides a rare opportunity to make a world-class development directly serving the needs of Kenyan businesses, shoppers and home-owners.
"We have been encouraged by the strong demand shown by both local and international retailers, who like us see Garden City as a landmark destination in Nairobi and the East African region," Mr Turner said.
Actis has a good track record in retail development in East and West Africa having built ten multi-billion shopping malls in seven African countries since 2004, including The Junction shopping mall in Nairobi.
Garden City becomes the latest real estate development along the new Nairobi-Thika highway. Other notable firms that have eyed investments along the highway include European furniture chain IKEA, Nakumatt and Uchumi supermarkets as well as PepsiCo which is putting up a Sh2.4 billion bottling plant.
The busy highway has also attracted residential property developments including the Sh2.5 billion Tatu City,Thika Greens, Migaa Golf Estate, among several others.
Garden City Groundbreaking Set For December