The Tatu City project’s first tower is more than 80% sold, with apartments starting at KES 10.2 million as the special economic zone draws foreign direct investment into Kenya.
Saudi construction and investment firm Mabani Aljazeera Holding Group is investing in Jabali Towers, a mixed-use development in the Tatu City SEZ (special economic zone) in Kenya, through its subsidiary Swan Properties. The deal gives Swan Properties 50% minus one share in the Jabali Towers developer, while Rendeavour, the owner and developer of Tatu City, remains the majority shareholder. The announcement positions the investment as a notable Saudi-backed commitment to East Africa and as another sign of Tatu City’s ability to attract foreign direct investment to Kenya. Jabali Towers includes 25- and 36-storey towers with amenities for residents and 35 restaurants and shops open to the public. The first tower is already more than 80% sold, and China Road and Bridge Corporation was named main contractor earlier this week for the 88,000-square-meter development. Apartments range from studios to one-, two- and three-bedroom units starting at KES 10.2 million ($78,200). The project is supported by more than 15 years of infrastructure investment in Tatu City, including 24-hour potable water, 99.7% power availability, high-speed fiber-optic internet and more than 70 kilometers of international-standard roads. Rendeavour said Tatu City attracts more than half of all foreign direct investment into Kenya each year and said it is in talks with numerous Saudi investors interested in the country.