Kenya is set to unveil the biggest 11.5 billion industrial park which is still under construction and is set for completion in March 2020.
The business center called Nairobi Gate is said to be the biggest industrial real-estate investment in Kenya’s history, the facility will be split into two buildings which are each 5,000 square meters in size.
The park, which sits on Northlands City in Ruiru is an initiative of Improvon, a South African industrial property developer and Actis, a private-equity investor.
The two firms have created a joint venture called ImpAct which will provide the entire infrastructure around Nairobi Gate, it will build the 10,000m² industrial business park development.
According to Improvon CEO Stefano Contardo, Kenya stood out as an African country to invest in at a time when South Africa is struggling with economic weakness and political squabbles.
“Some SA companies have established themselves in Kenya already and can be tenants for our development. Kenyan businesses understand English, they are dollar-based and the market is not too competitive so we can do good work there.
“We have found that while SA struggles and looks slightly sketchy, other parts of the continent are looking more attractive. Kenya stands out for many reasons,” he was quoted by Logistics Update Africa.
On his part, Louis Deppe, partner for real estate at Actis expressed his confidence that Nairobi Gate would be a success and that a similar design could be replicated in other African countries.
The development is Improvon’s first in Kenya. The company already operates a business park in Zambia.
Featured Image Courtesy: Construction Review Online