Tatu City signs Sh4b deal to build 1,200 affordable homes in Kiambu
The project will address the shortage of affordable homes in Kenya and provide opportunities for local employment in the area. By KENNEDY KANGETHE, NAIROBI, Kenya, Jun 28 – Tatu City Managers Rendeavour has signed a deal with Real Estate developer Unity Homes for the construction of 1,200 affordable homes at Tatu City in Kiambu County worth Sh4 billion. The project will address the shortage of affordable homes in Kenya and provide opportunities for local employment in the area. The houses are set to be priced between Sh3 million and Sh5 million featuring approximately 600 ft² of floor space, two bedrooms, parking, modern kitchen, spacious stone worktops, stainless steel oven-hood and dining room/lounge. The Unity Homes at Tatu City will occupy 23 acres and will have a fitness centre, 5-aside football pitch, swimming pool, restaurant and shops. The project is located adjacent to a 50-acre woodland park in close proximity to Tatu City’s Business District, as well as the nearby Tatu Industrial Park. “Our goal is to build a flourishing community of decent, affordable homes that supports the housing pillar of the Kenyan government’s Big Four agenda: Universal Healthcare, Manufacturing, Affordable Housing and Food Security,” said Jason Horsey, Director of Unity Homes. The signing ceremony between Unity Homes and Rendeavour took place at the Big Four Summit in Nairobi, where deals worth Sh10 billion were signed between US and Kenyan entities. The signing of multi-billion shilling deals, witnessed by President Uhuru Kenyatta of Kenya and U.S. Under Secretary of State of Commerce Gilbert Kaplan, include a Sh2 billion deal between the Kenyan government and American firm Medtronic for a medical dialysis centre whose scope will cover strengthening specialized medical services in the country. Victoria Commercial Bank also signed a Sh1 billion credit line from World Business Capital a global small and medium enterprise financier. USAID Power Africa and the Kenyan Government also signed a projects and investments financing arrangement designed to enable Kenya to achieve its objective of ensuring universal electrification by 2022. The USAID Power Africa-Kenyan pact framework will enable Kenyan power sector utility and infrastructure institutions covering Kenya Electricity Transmission Company (KETRACO), Kenya Power and the Energy Regulatory Commission (ERC) to access financing for their projects. President Kenyatta also witnessed the signing of an agreement between the US Trade and Development Agency (USTDA) with the Kenya Tea and Development Agency (KTDA) to undertake a feasibility study for a solar and battery storage project. The solar and battery storage project, when developed, will provide KTDA, which a is a leading global exporter of black tea, with approximately 30 megawatts of reliable electricity, while also reducing operating costs at its tea factories. Further, the President oversaw the signing of an agreement by leading US Energy Company for supply and commissioning of East Africa’s largest off-grid solar and battery system. The 1260 kWh battery system will be installed at the Serena Safari Lodge in the Amboseli National Park. The United States ranks as Kenya ’s seventh largest trading partner with overall trade standing at Sh104 billion for the year 2017. It is also Kenya’s third-leading export destination at Sh47.27 billion.