Actis seeks nod for Sh2.7bn Thika Road business hub

An Actis subsidiary, Kasarani Investments Holdings, plans to put up a multi-billion shilling business complex in Ruaraka, according to new regulatory filings.
The National Environment Management Authority (Nema) has now invited public views on the Sh2.7 billion Garden City business park on Thika Superhighway in Nairobi.

Actis is also the developer of the Garden City Mall.

In a notice published in local dailies, the Nema said the project’s proponents plan to subdivide the 23.53 acres into 10 plots that will accommodate two office blocks, a four- and a six-storeyed facility and a six-storeyed hospital as well as a 286-room three-star and a 216-room four-star hotels.

The study says the new facilities will connect to the existing Garden City Mall, a residential complex and a central park via a pedestrian boulevard as well as paved roads built around the complex.

The Environmental Impact Assessment study urged Nema to approve the development, saying it would enhance economic activities within the whole mixed-use 32-acre facility owned by a UK-based investment consortium led by private equity firm Actis.

The CDC injected Sh2.5 billion into Garden City while World Bank’s investment arm International Finance Corporation added Sh700 million.

The study said the development, if allowed, would create employment, business opportunities and revenue for county and national governments.

Terming the new location prestigious, the developers hinted that a leading mobile operator has since committed to relocating its headquarters to one of the soon-to-be built office blocks by June 2018.

The office complexes will provide a parking lot for 820 vehicles.

The Garden City project incorporates a retail facility with about 100 stores of various globally renowned consumer brands and 420 apartments and town houses.