Lekki Free Trade Zone developer expands project in Kenya
Rendeavour, Africa’s largest urban land developer with 12,000 hectares across the continent, has announced an expansion of its multi-million dollar mixed-use development in Nairobi, Kenya.The additional 1,000 hectares will bring the total size of its urban development project, Tatu City, to 2,000 hectares.
Stephen Jennings, Founder and CEO of Rendeavour, the owner and developer of Tatu City, said the expansion follows increased interest in industrial, commercial and residential plots from local and foreign investors. “We bring substantial private investment, world-class infrastructure and significant employment opportunities, into our host countries over a 25-year project lifecycle. Because of this unique offering, we have seen immense interest from a range of industries, developers and residential buyers for upper, middle and low income groups within our portfolio across Africa,” he said.
Companies already on the Kenyan site include global consumer products giant Unilever, Dormans, East Africa’s largest coffee grower and processor and leading paper and hygiene products producers Chandaria Industries and Kim-Fay.
In June 2016, Rendeavour and Lagos State Government under the leadership of His Excellency Governor Akinwunmi Ambode, represented by Lekki Worldwide Investments Limited, announced an expansion of Rendeavour’s urban development project in the Lekki Free Trade Zone to 1,000 hectares, providing more development area for a mixed-use and master planned solution for businesses and residents. The expansion will pave the way for additional foreign direct investment into the country by Rendeavour, similar in scale to that being actively advanced into its other Nigerian project, Jigna, in the nations capital, Abuja.
Rotimi Oyekanmi, Director of Rendeavour, provided further insight. “The expansion of Tatu City aligns with Rendeavour’s strategy of building market-led developments planned specifically for each of our host countries’ needs. Our level of investment in Nigeria will closely mirror that experienced in other parts of Africa. We look forward to welcoming companies and individuals to the Lekki Free Trade Zone as the project progresses.”