Home ECONOMY Plots at Kenyatta’s city go on sale at Sh. 40 million each

Plots at Kenyatta’s city go on sale at Sh. 40 million each

by biasharadigest

Kenyatta’s City: Plots at a private development that is associated with the first family have gone up for sale at Sh. 40 million each. The Kenyatta’s City is dubbed as Northlands City.

According to a report that appeared in the Business Daily on Friday, the land at the development project owned by the Kenyatta Family is selling at Sh. 40 million per acre. The paper also reports that Impact—a special purpose vehicle for international smart warehouse developer Improvon (SA)— and UK equity firm Actis ­said the construction works that started in October 2018 will see the plots get connected to water, electricity, sewer, roads as well as the internet.

“The entire 103-acre plot is now secured with a perimeter wall erected around it and soon each plot is now on sale as a serviced plot at Sh40 million. The same is also available for leasing where we shall put up purpose-built facilities for lease to incoming investors,” the Business Daily quoted the business development head Paul Williamson.

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Mr Williamson said four graduate engineers had been hired to oversee development of Impact’s 10,000 square metre warehousing facility where space will be leased out to local and foreign investors.

“Northlands City proponents are also eyeing development of commercial and residential areas estimated to cost Sh. 500 billion to accommodate 250,000 workers daily within the next two decades. Eastern and Western bypasses are to be expanded at a cost of Sh. 40 million within three years once the National Environmental Management Authority gives a nod,” the Business Daily reports.

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