Dubai Firm to Fund Construction of Mini City in Juja
Capitaland East Africa has entered into a deal with Abu Dhabi Investment and Housing, a Dubai based company, to construct a mini-city at Mang’u in Juja, Kiambu County, at the cost of Sh8 billion.
The deal that was reached following a meeting in Dubai also involves Emirate Homes Group and Royal Investment Group. It has been projected to stand completed in about three and a half years and will include malls, hospital, and educational institutions among other to make it more attractive to potential tenants in and out of Kiambu.
“We are targeting the Nairobi residents who may be looking for out of town gateaways and medical attention,” says Luxury Homes developer and Costa Homes founder Constantine Mwadime.
The project which sits on a 25-acre piece of land is designed to host seven blocks of eight-storeyed flats. The flats will hold 160 units of three bedroomed apartments with servant quarters. It will also have 480 units of two-bedroom apartments and 60 units of one-bedroom apartments. The partners have agreed to name the project Artstone Valley
Kiambu county has continued to attract investments from within and outside the country due to its improved infrastructure. It also has an advantage due to its proximity to Nairobi, Kenya’s capital city. The completion of Thika Super Highway has facilitated transportation between the two counties which currently have a shared residential base.
Many families opt to live in Kiambu while working in Nairobi, and the reverse is true. This has seen the development of amenities that target populations in both counties. With policies that allow corporation between the administrations, Kiambu and Nairobi counties have provided an easy opportunity for investors to grab.