REAL ESTATE

Cities like Tatu best bet for genuine investors

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An artist's impression of Tatu City. he company management last week accused the county government of refusing to approve building plans for its investors and linked Governor Ferdinand Waititu to a tacit plot to grab part of their land.
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It has become a waking nightmare for any investor. Due to a combination of corruption and poor planning, many businesses in Nairobi County are on the brink of total destruction. Those who watch local TV news have been treated to the drama by ‘Sany’, the green bulldozer that is flattening buildings and structures erected illegally.

It all started in earnest with the formation of the Nairobi regeneration team formed by President Uhuru Kenyatta to restore the capital city back to sanity and its former glory. Thousands of buildings have been marked for demolition, which will definitely amount to billions of shillings.

Now, Nairobi has reached a point of no return. Over the years, the capital city has been growing steadily in terms of both population and infrastructure. Unfortunately, much of this growth has been going on unplanned. Indeed, it would appear that the city has been running on what the colonialists planned and left during independence. But this is not sustainable any more.

The city is choking from haphazard expansion. We are not even referring to the ubiquitous slums that are symbols of the city’s real status, away from the gated communities. Even roads rehabilitation has become an impossible task as they get spoilt soon after repair from movement of heavy trucks moving in and out of construction sites within the city, and the vagaries of the rainy season as is currently being experienced after the recent floods.

The sewerage network will soon implode since it can no longer contain the millions of litres of waste water being spewed out daily from the mushrooming households and offices.  And this today is not just the preserve of the lower income sections of the city like Eastlands. Sewerage leakage has become a normal phenomenon even in upmarket estates.

It is said once bitten, twice shy. There should be no excuse for making wrong decisions with many viable options in the property market today. One such project is the satellite Tatu City. Tatu City is the largest private development in Kenya. The City is designed as a controlled mixed-use development that will provide privately managed utilities to guarantee reliability and a high quality of life to the residents and visitors.

The project represents a new way of living and thinking for all Kenyans, creating a unique live, work and play environment free from traffic congestion, long-distance commuting and slums. Once completed, Tatu City will have all the amenities and opportunities that that expansive cities like Nairobi offer, from employment and residence, to sports and recreation. The city will absorb at least 200,000 people, which will help reduce overcrowding in the neighbouring Nairobi County.

Investors in the city will have to adhere to strict design guidelines that help to promote sustainability. Those who can afford it are willing to pay a high premium since they are assured of all the urban conveniences and amenities that the public sector may not have the wherewithal to offer adequately to everyone.

Cities like Tatu will act as benchmarks for urban planning. Urban authorities in County governments can borrow and use ideas from Tatu City on keeping their towns safe and sound. Also, do not forget the peace of mind that comes with resting knowing that you have done things as per all requirements. It is the only way to secure your investment.

Written by
BUSINESS TODAY -

editor [at] businesstoday.co.ke

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