[Kenya] Unity Homes to build 1,200 low cost houses at Tatu City
Unity Homes, a developer of inclusive residential communities in Kenya, will build 1,200 affordable homes at Tatu City, the U.S.-backed, mixed-income development in Kiambu County.
The $45 million project will address the shortage of affordable homes in Kenya and provide opportunities for local employment in the area.
At Tatu City, Unity Homes' 23-acre community will enjoy 24-hour security, a fitness centre, 5-aside football pitch, swimming pool, restaurant and shops. It 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 largest industrial and logistics zone in Kenya.
"We are proud to expand our investment in inclusive housing in Kenya," said Jason Horsey, Director of Unity Homes. "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."
The signing ceremony between Unity Homes and Tatu City, a development by Rendeavour, Africa's largest urban land developer, took place at the Big Four Summit in Nairobi, and was witnessed by President Uhuru Kenyatta of Kenya and U.S. Under Secretary of State of Commerce Gilbert Kaplan.
Speaking at the ceremony, Stephen Jennings, Founder and CEO of Rendeavour, said, "Accessible home ownership is the cornerstone of modern nations, and the Government of Kenya deserves praise for recognising the private sector's crucial role in providing large-scale housing solutions to Kenyans."
Frank Mosier, Chairman of Rendeavour, said, "As an American investor, I commend the Kenyan and U.S. governments for pursuing the kind of bi-lateral trade and investment that make our work at Tatu City possible."
Facing a deficit of around 1.9 million units, with approximately 70% of those in the lower to middle income segment, the Kenyan government has encouraged the private sector to support the national goal of building 200,000 units per year to reduce the shortfall.
Priced at Ksh 3-5mn ($30,000-$50,000), Unity Homes' turnkey units feature approx. 600 ft² of floor space, two bedrooms, parking, modern kitchen, spacious stone worktops, stainless steel ovenhood and dining room/lounge.
Homeowners also will enjoy all the amenities of Tatu City, a 5,000-acre, mixed-use development with homes, schools, offices, a shopping district, medical clinics, nature areas, a sport and entertainment complex, and manufacturing area for more than 150,000 residents and tens of thousands of day visitors. Two schools welcome over 1,000 students daily, and a third school will open in September. Over 5,000 homes are currently under development or construction, and businesses in Tatu Industrial Park have started operations. A Special Economic Zone, Tatu City represents a new way of living and thinking for all Kenyans, creating a unique live, work and play environment that is free from traffic congestion and long-distance commuting.
Tatu City is owned and developed by Rendeavour.