Konza Phase 1 Land Uptake Reaches 40% in Less than a Year
By Estate Cloud - over 2 years ago - Kenya
Demand for land at Konza Technopolis as investors rush to claim a piece of the cake at the upcoming Silicon Savanah.
The Kenyan government has in recent months upped infrastructural activities on the site to prepare it for investors. Investors have already acquired 160 acres of the 410 acres set apart for phase one of the project amidst growing demand.
Phase one of the Konza Technopolis project, which sits on a 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 other public space (130 acres).
The land buyers include hospitals, real estate developers, institutions of higher learning, the National Construction Authority (NCA) and the Kenya Electricity Transmission Company (Ketraco).
“So far, we are happy to note that the project has realized more than 40% uptake. Some of the investors expected to break ground include hospitals, real estate developers and institutions of higher learning, government agencies such as the National Construction Authority, among others,” ICT, Innovation and Youth Affairs Principal Secretary Jerome Ochieng recently told the media.
In February this year, the Konza Technopolis Development Authority (KoTDA) invited investors to review various land parcels available for development in its first phase while hosting a property Developers and Financiers investor conference.
The Kenyan government has been at the centre of activities to draw investors to the techno-city with a number of bold initiatives and moves. In July the government announced it would be establishing a National Data Centre at Konza while in October, the government announced plans to establish the Centre for Construction Industry Development (CCID).
Konza Technopolis is one of Kenya’s flagship Vision 2030 projects and was last year gazetted as a special economic zone (SEZ). The Konza project is Kenya’s claim to Africa’s tech leadership hub.