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Nairobi Metro Region Projects and construction in the Nairobi Metropolitan Region



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Old February 2nd, 2012, 03:29 PM   #1
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KASARANI | Garden City | 50,000m² retail space | U/C

London-based private equity fund, Actis, plans to construct a multi-billion- shilling commercial and residential estate on a 32-acre piece of land on Thika Road.




The land is owned by beer maker East African Breweries Limited (EABL).

The investment by Actis, which says it has set aside Sh6.4 billion ($75 million) to spend on projects in East Africa within the next 11 months— will deepen its stake in the region’s real estate sector.

Actis has significant shareholding in the Nairobi Business Park, which houses the Junction Shopping Centre along Ngong Road and Tanzania’s Capital Properties.

Senior Actis partner Paul Fletcher told the Business Daily in an interview that the private equity firm is focusing on investments in real estate, energy, consumer and financial service sectors.

Late last year, we concluded a major real estate investment on the new Thika Highway, which is keeping us busy, but we are certainly on the lookout for at least one large, greater than $75 million (Sh6.4 billion), private equity investment in 2012,” he said.

Mr Fletcher did not offer more details on the Thika Road project, which will involve the construction of office blocks, a hotel and residential units.

Actis has contracted development consultancy firm GIBB Africa, which designs and supervises construction works, to undertake a feasibility study on the land along Thika Road.

The study includes checking the water, sanitation, electrical engineering and environmental screening.
“Actis is proposing to construct a mixed use development, comprising offices, hotel and commercial and retail areas on a 32-acre piece of land currently the property of EABL.

The land is located off Thika Road in the Ruaraka area of Nairobi,” said the notice.

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The EABL’s land is close to Moi International Sports Centre, Kenya School of Monetary Studies, KCA University and Utalii Hotel.
Actis said it could not give further details on the plan because it is still subject to a series of approvals.

Details of the development are scanty, and it is not clear whether Actis is acting in a joint venture with other investors, whether EABL has sold the land to Actis or whether it is being developed on a lease or joint venture basis.

East African Breweries (EABL) declined to comment on the issue.

“We are currently in a closed period limiting us from commenting on the same,” said the EABL Group head of communications, Joseph Sunday.

The expansion of Thika Road into a super highway has attracted multi-billion shilling commercial and residential real estate developments such as the Kenyatta University City, Thika Greens and the proposed Tatu City.
Mr Fletcher said the outlook for private equity in the region is buoyant, driven by demographics, urbanisation and the natural entrepreneurial energy in the region.




The East African Community common market has also made the region an attractive investment destination.

Actis has also invested in infrastructure projects in the region including a 74 MW oil-fired power plant in Mombasa, a 190 MW gas fired power plant and processing facility in Songo Songo Tanzania and Umeme in Uganda, which is a 20-year government concession for power distribution.

The fund has also invested in agribusiness including timber in South Sudan and Tanzania, tea in Tanzania and in grain handling facilities in Mombasa in addition to financial services investments in DFCU Bank in Uganda and BCR Bank in Rwanda.

“We expect our investments to perform well in 2012. We have put the work in to ensure we have the right management teams, with the right strategy and projections. Due to high inflation in Uganda and Kenya we may find that the steep climb in bank lending rates result in some pain in the consumer sector,” said Mr Fletcher.

http://www.businessdailyafrica.com/A...k/-/index.html
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Old May 16th, 2012, 12:52 PM   #2
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RUARAKA | Project Tusker | $100million | Proposed

http://mentor-ea.com/2011/11/03/project-tusker-nairobi/



Client: Actis LLP
Sector: Mixed Use (Retail/office/residential)
Location: Ruaraka, Nairobi
Project Value: $ 100 million
Project Scale: 150,000 m2
Role: Development Management
Start Date: Phase 1: 2012
Completion: On-going
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Old May 16th, 2012, 02:12 PM   #3
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heard about this one too,again great find SE9..
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Old May 17th, 2012, 07:01 AM   #4
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Part of it.
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Old May 17th, 2012, 11:48 AM   #5
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excellent projects
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Old May 18th, 2012, 04:48 AM   #6
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How's this deal going so far??
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Old May 18th, 2012, 07:11 PM   #7
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I think we should link this thread with the Tusker city development one. Something tells me its the same project.
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Old May 19th, 2012, 05:13 PM   #8
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Good point Kenguy... done.
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Old May 22nd, 2012, 04:11 PM   #9
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Quote:
Originally Posted by SE9 View Post
http://mentor-ea.com/2011/11/03/project-tusker-nairobi/

Client: Actis LLP
Sector: Mixed Use (Retail/office/residential)
Location: Ruaraka, Nairobi
Project Value: $ 100 million
Project Scale: 150,000 m2
Role: Development Management
Start Date: Phase 1: 2012
Completion: On-going
The amount budgeted seems little at current rates for such a massive project. But great development and another great city coming up.
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Old May 23rd, 2012, 11:39 AM   #10
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Quote:
Originally Posted by xJamaax View Post

Part of it.
This will be a big improvement to how the place looks like now! It is the property on the right, with Baptist Mission of Kenya and Kenya Episcopal Conference (Radio Waumini) respectively to the left. Good neighbors I must say, with WilMary Estate on the right, the only nuisance could be Home Pub on the opposite side of Thika Road.
image hosted on flickr

Credits to Thika Road Blog.

Last edited by Nairobiguy; May 23rd, 2012 at 11:46 AM. Reason: Credits
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Old May 23rd, 2012, 08:08 PM   #11
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^I agree.
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Old May 23rd, 2012, 08:46 PM   #12
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So there are a large amount of people that need to be compensated?
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Old May 23rd, 2012, 09:04 PM   #13
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But also with this project is that somebody is also trying to set up a grand prix race in kenya and it will be located around Kasarani stadium an close to thika road. The plan is in the development stage but if kenyans become invested in the project and support it could take off this year and be finished to next year to enter kenya into its 50th year.
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Old June 16th, 2012, 05:38 AM   #14
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Actis is really doing this....project will break ground b4 end year.
http://www.the-star.co.ke/business/p...i-for-property
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Old June 17th, 2012, 05:44 PM   #15
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^ Excellent, I like the fact that there is a strong appetite for this sort of project.
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Old July 5th, 2012, 11:41 PM   #16
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It's happening people.Groundbreaking is on Dec n it'll be done in one year.
By the way we should change the name to GARDEN CITY not TUSKER CITY anymore.
Check out the link below. http://www.capitalfm.co.ke/business/...state-project/

.

Last edited by tripleg; July 5th, 2012 at 11:53 PM.
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Old July 5th, 2012, 11:41 PM   #17
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http://www.capitalfm.co.ke/business/...state-project/
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Old July 6th, 2012, 08:45 AM   #18
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Garden City is a plain name.
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Old July 6th, 2012, 09:15 AM   #19
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Thought so too. TUSKER city was more original “Kenyan"
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Old July 6th, 2012, 11:39 AM   #20
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more Info



NAIROBI,Kenya,Jul 5 – International private equity firm Actis has unveiled plans to launch a Sh12.6 billion ($150 million) real estate development along the Nairobi-Thika Superhighway.
The 32-acre development, dubbed Garden City, will include a 50,000 square foot retail mall, state-of-the-art commercial premises, 500 new homes and a four acre central park that will also house an outdoor events arena for the staging of concerts and shows.
Actis Head of East Africa Michael Turner said the groundbreaking will take place in December with completion targeted for May 2014.
Close to the residential areas of Muthaiga and eight minutes from Westlands and the Central Business District (CBD), Garden City occupies a prime location, serving a catchment area of one million people.
“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,” said Turner.
In 2004 Actis built The Junction shopping mall in Nairobi, The Palms shopping mall in Nigeria and Ghana’s A-grade shopping and leisure centre, Accra Mall, in 2008.
The construction of Garden City will be led by Mentor Management; a team of international and local experts in development and project management, based in Nairobi.
http://www.capitalfm.co.ke/business/...state-project/

so this will be the biggest mall in the Region i guess
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