The newly-launched project for Tatu City, 15 kms north east of Nairobi on the road to Thika, is billed as a model metropolis that will provide housing for 62,000 residents and includes schools, office blocks, shopping malls, hospitals, a stadium, a technology park and play grounds.
At a time when real estate at the higher end of the market is booming in Nairobi this is one of several upper income projects such as Thika Greens and Diamond Park in the south of the city. Tatu City is to be developed on what was once prime coffee-growing country and the developers have insisted that parts of this heritage will be respected.
The US$ 5 billion partnership project is being bank-rolled in a 50-50 venture between Kenyan investors Tatu City Ltd and Renaissance Group, a Moscow-based conglomeration of investment and management companies. The project forms part of the group