MK254
JF-Expert Member
- May 11, 2013
- 32,239
- 50,412
Tatu City is set to invest Sh35 billion to construct 2,715 residential houses on land which it owns in Ruiru, Kiambu making it one of the largest real estate projects in the country.
The upcoming development, dubbed Tatu Waters, will consist of 402 two bedroom, 1,294 three-bedroom and 1019 four-bedroom units constructed as either apartments or townhouses.
“The condos will have communal spaces with pools and gardens, elevators and semi-underground parking. Townhouses are organised in courts,” Tatu City says in regulatory filings.
“Each court has a security perimeter fence to control access. The total project is estimated to cost Sh35 billion.”
This is Tatu City’s second housing project. The entire Tatu City project, which has been the subject of bitter ownership wrangles, is expected to cost over Sh350 billion.
Tatu Waters will also include a bank, a kindergarten, a supermarket, swimming pools, a post office, a gymnasium, a healthcare centre, two substations and 5,136 parking slots.
The development will take up 247.6 acres of the 5,000 acre Tatu City land earmarked for mixed-use development consisting of residential, commercial and industrial amenities.
“Tatu Waters financing is secured from local and regional equity partners, as well as from Rendeavour, the majority owner and developer of Tatu City and its American, Norwegian and New Zealand investors,” Tatu City told Business Daily in a statement. “Tatu Waters is a multi-year, multi-phased project. We expect the first phase to be completed in 2019.”
The firm, which is majority owned by private equity firm Rendeavour Group, is currently selling the last of quarter and half-acre plots of land to investors keen on setting up a residential estate dubbed Kijani Ridge.
Tatu City to build Sh35bn houses in Ruiru, Kiambu
The upcoming development, dubbed Tatu Waters, will consist of 402 two bedroom, 1,294 three-bedroom and 1019 four-bedroom units constructed as either apartments or townhouses.
“The condos will have communal spaces with pools and gardens, elevators and semi-underground parking. Townhouses are organised in courts,” Tatu City says in regulatory filings.
“Each court has a security perimeter fence to control access. The total project is estimated to cost Sh35 billion.”
This is Tatu City’s second housing project. The entire Tatu City project, which has been the subject of bitter ownership wrangles, is expected to cost over Sh350 billion.
Tatu Waters will also include a bank, a kindergarten, a supermarket, swimming pools, a post office, a gymnasium, a healthcare centre, two substations and 5,136 parking slots.
The development will take up 247.6 acres of the 5,000 acre Tatu City land earmarked for mixed-use development consisting of residential, commercial and industrial amenities.
“Tatu Waters financing is secured from local and regional equity partners, as well as from Rendeavour, the majority owner and developer of Tatu City and its American, Norwegian and New Zealand investors,” Tatu City told Business Daily in a statement. “Tatu Waters is a multi-year, multi-phased project. We expect the first phase to be completed in 2019.”
The firm, which is majority owned by private equity firm Rendeavour Group, is currently selling the last of quarter and half-acre plots of land to investors keen on setting up a residential estate dubbed Kijani Ridge.
Tatu City to build Sh35bn houses in Ruiru, Kiambu
