Actis – Garden City Mixed-Use Development – Kenya - Project Profile
"Actis – Garden City Mixed-Use Development – Kenya - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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Actis Capital LLP (Actis) is undertaking the construction of Garden City Mixed-Use Development project in Nairobi, Kenya.
The project involves the construction of a mixed-use facility on 13ha of land and is being implemented in two phases: the Garden city retail and Garden city residential.
Garden city retail involves the construction of a 50,000m2, two-story shopping center with initial having a 33,000m2 of a lettable area with an option to expand in later phase. It also includes the construction of 20,000m2 of office space and a 120-room hotel.
Garden city residential involves the construction of 420 apartments, duplexes and town houses in phases.
The first phase included the construction of 33,000m2 of retail facility and 76 apartments and central park.
The second phase 'the garden city business park' includes the construction of additional 50,000m2 residential and retail space comprising four and six storey two office complexes, six storey hospital, 286 three-star and 216 four-star business hotels, a pedestrian boulevard link, central park, 56-four bedroom villas and 83 apartments, parking space for 820 vehicles.
It also includes the construction of multiplex cinema theatre, a park on 1.21ha of land, and the installation of elevators, escalators, safety and security systems.
Actis has appointed development consultancy firm GIBB Africa, which designs and supervises construction works, to undertake a feasibility study.
Mentor Management and Aspire Development Management Ltd UK have been appointed to undertake the construction management.
In June 2013, construction work commenced on the first phase of the project.
In July 2013, International Finance Corporation (IFC) approved US$45.2 million fund comprising US$8.2 million equity and US$37 million senior debt.
In January 2014, IFC and UK government-based CDC Group approved US$32 million for the project implementation.
In September 2014, Solarcentury secured a contract to install Africa's largest solar carport on the top floor of car park of the project. The 858kWp solar carport constitutes 3,300 solar panels and will generate 1,256MWH a year.
In May 2015, construction activities on the first phase completed.
As of July 2017, Kasarani Investment Holdings a subsidiary of Actis is seeking regulatory approvals for the second phase of the project.
The construction works are anticipated to commence in 2018.
The project involves the construction of a mixed-use facility on 13ha of land in Nairobi, Kenya.
The US$250 million project includes the following:
1. Construction of a 33,000m2 shopping mall
2. Construction of 420 residential units
3. Construction of 286 three-star and 216 four-star business hotels