Konza construction starts in Dec after firm picked

Posted In Business, Real Estate - By admin on Thursday, June 13th, 2013 With No Comments »

KonzaConstruction at Konza Technolopis is expected to start in December after the government tapped a US consultancy firm to guide the first phase of the multi-billion- shilling project.

Tetra Tech Inc beat five bidders to secure the contract that will include land lease negotiation with investors, marketing the project and overseas firms that will lay infrastructure such as power, roads and sewerage on the 5,000-acre land.

The firm will also carry out financial analysis on the project and conduct due diligence of investors to be awarded stakes in the technopolis.

The maiden phase of the project is planned to be implemented from 2013 to 2017.

Information and Communication Cabinet secretary Fred Matiang’i said the government had set aside Sh1.3 billion in this financial year to finance the project’s first phase which will include construction of roads within the site.

“The tender process for the second master developer was concluded on Monday and we intended to start implementing some of the projects in phase one before Christmas,” said Dr Mating’i during a Konza site visit that brought together the three governors of Machakos, Makaueni, and Kajiado counties.

Phase one of the project will be set up on a 400 acre portion on the site off the Nairobi-Mombasa highway. It is expected to host various amenities including a cultural centre, parks, offices, residential houses, and a university complex, among others.

A review of the plan for Konza showed that investors in transport and other public spaces will be allocated the lion-share of 130 acres of land out of the 400acres set aside for phase-1 of the project.

Ventures on mixed-use developments will be allocated 89 acres, parks (79),university(39),life science (26),residential(26) while offices, retails and cultural community would allocated 11,8 and 1 acre respectively.

Catherine Adeya-Weya, the acting CEO of Konza Technopolis said investors would however be required to fully comply with the approved development plans to ensure order within the metropolis.

-Business Daily


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