Market News

Konza hands investors another 73,000 acres

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The data centre at Konza Technopolis in this picture taken on March 29, 2021. PHOTO | EVANS HABIL | NMG

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Summary

  • Konza Technopolis is set to offer investors an additional 73, 000 acres of land amid rising interest due to the recently completed standard gauge railway (SGR).
  • This follows an agreement between the counties of Kajiado, Makueni and Machakos and the national government through the Konza Technopolis Development Authority (KoTDA) to expand new urban development.

Konza Technopolis is set to offer investors an additional 73, 000 acres of land amid rising interest due to the recently completed standard gauge railway (SGR) and the planned expansion of the Nairobi-Mombasa highway which promises to open up the area for business.

This follows an agreement between the counties of Kajiado, Makueni and Machakos and the national government through the Konza Technopolis Development Authority (KoTDA) to expand new urban development.

The memorandum of understanding (MoU) will facilitate the proper planning of the belt, making investment around the smart city attractive and sustainable.

“This will protect thousands of jobs, investments and wildlife by preventing encroachment and uncontrolled development in the buffer zone,” Ministry of Interior and Coordination of National Government Cabinet Secretary Fred Matiang’i said.

The agreement was reached Wednesday after the three counties’ governors held a meeting with Dr Matiang’i at Harambee House in Nairobi.

As at December 2020, for example, buyers such as hospitals, real estate developers, institutions of higher learning, the National Construction Authority (NCA) and the Kenya electricity transmission company (Ketraco) had acquired over 160 acres at Konza.

Smart manufacturing, light industry logistics, smart agriculture, property development as well as ICT and Information Technology (IT) enabled services are some of the investments that are in high demand.

Phase one of the Konza project, which sits on 410 acres of land, is distributed into mixed use (89 acres), university (39 acres), residential (26 acres) and life science (26 acres).

Others include office space (11 acres), retail (eight acres), cultural community (one acre), parks (79 acres) and transportation and public space (130 acres).