Nigeria’s Lekki FTZ developer announces multi-million dollar expansion project in Kenya


Rendeavour, an urban land developer in Africa behind the development of Lekki Free Trade Zone (LFTZ) in Lagos, has announced the commencement of another multi-million dollar mixed-use development project in Nairobi, Kenya, known as Tatu City.
The expansion, situated in 1,000 hectares of land, will bring the total size of its urban development project in Kenya to 2,000 hectares and that of Africa as a whole to 12,000. The project, which is in line with the company’s vision, is aimed at helping to create the infrastructure for the living and working spaces, communities, schools and hospitals – that will help sustain and accelerate Africa’s economic growth.
Speaking in a statement sent to BusinessDay Sunday, Stephen Jennings, founder/CEO of Rendeavour, said the expansion project was prompted by the increased interest in industrial, commercial and residential plots from local and foreign investors in Nairobi.
“We bring substantial private investment, world-class infrastructure and significant employment opportunities, into our host countries over a 25-year project lifecycle. Because of this unique offering, we have seen immense interest from a range of industries, developers and residential buyers for upper, middle and low income groups within our portfolio across Africa,” he said.
According to Jennings, companies including Unilever, consumer products firm; Dormans, East Africa’s largest coffee grower and processor; Chandaria Industries, a paper and hygiene products producer, and Kim-Fay, were already located on the Kenyan project site.
Recall that in June 2016, Rendeavour, represented by Lekki Worldwide Investments Limited and the Lagos State government, announced an expansion of Rendeavour’s urban development project in the LFTZ to 1,000 hectares, which aimed at providing more development area for a mixed-use and master planned solution for businesses and residents.
The expansion effectively doubled Rendeavour’s investment in Nigeria, with a similar mixed-use project, Jigna, situated in Abuja.
Rotimi Oyekanmi, director of Rendeavour, said the expansion of Tatu City aligned with Rendeavour’s strategy of building market-led developments planned specifically for each of our host countries’ needs. Our level of investment in Nigeria will closely mirror that experienced in other parts of Africa. “We look forward to welcoming companies and individuals to the Lekki Free Trade Zone as the project progresses,” Oyekanmi said.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.