Chinese company among those picked in public- private partnership deal.
Five joint ventures and a Chinese firm have been shortlisted for construction of 23,400 multi-billion shilling hostel units at Moi, Embu and South Eastern Kenya (Seku) universities.
Moi University under the Public-Private Partnership (PPP) arrangement pre-qualified Kesa, Meridiam, JV Unicamp and PDM-Roko-CBA Capital Consortiums together with Chinese Overseas Engineering for the planned construction of 14,000 units.
University of Embu named Meridiam, PDM-Roko-CBA Capital and JV Unicamp Consortiums for the proposed 4,000-bed capacity hostel at its main campus.
Seku has shortlisted Kesa and PDM-Roko-Consortiums for the proposed 5,400 units at its Machakos-based main campus.
The successful bidders will be tasked with raising capital, designing, constructing and maintaining the hostels, on a build-own-operate basis thereby enabling the three universities to plug a hostels shortage that has seen students seek accommodation outside the institutions.
The approval of the three projects follows a detailed analysis by a consortium of transaction advisers led by the South Africa-based consultancy, Genesis Analytics.
The consortium developed the transaction documents and will execute contracts.
The floating of the PPP bids follows approval by the Treasury for public universities to tap into private funds to finance development of key infrastructural projects.
The hostels will have furnished rooms, separate study areas and food supply facilities along with tuck shops.
JKUAT, Maseno, Egerton, and Kenya School of Government have also seek to avail land to private developers for hostels.
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