UNITY HOMES SUPPORTS KENYA’S BIG FOUR AGENDA WITH 1,200 AFFORDABLE HOMES AT TATU CITY
June 29, 2018
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 Ksh 4.5bn ($45mn) project will address the shortage of affordable homes in Kenya and provide opportunities for local employment in the area.
Unity Homes are built with the modern family in mind, in an environment that allows children to flourish. 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, which is open for business. 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. In 2017, Tatu City was granted Special Economic Zone status, providing reduced corporate taxes, among other benefits.