Kenya signs US $39.7m deal to construct 1,200 affordable homes in Kiambu

Kenya signs US $39.7m deal to construct 1,200 affordable homes in Kiambu

Tatu City Managers Rendeavour have signed a deal with Real Estate developer Unity Homes for the construction of 1,200 affordable homes at Tatu City in Kiambu County Kenya, worth US $39.7m.

The project will address the shortage of affordable homes in the country and provide opportunities for local employment in the area. The houses are set to be priced between US $29,806 and US $49,677 featuring approximately 600 ft² of floor space, two bedrooms, parking, modern kitchen, spacious stone worktops, stainless steel oven-hood and dining room/lounge.

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.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.

Affordable housing pillar

“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 US $99.4m were signed between US and Kenyan entities.

The signing of multi-billion deals, witnessed by President Uhuru Kenyatta of Kenya and U.S. Under Secretary of State of Commerce Gilbert Kaplan, include a US $19.9m 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 US $10m 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.

Also read: International firms to help Kenya meet affordable housing deadline

Agreement signing

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 MW 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 systemThe 1260 kWh battery system will be installed at the Serena Safari Lodge in the Amboseli National Park.

 

 

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