Inside Kenyattas’ Multi-Billion Housing Empire

Business Today looks at a few of the family's known investments in real estate and construction

The family of former President Uhuru Kenyatta has major investments in the real estate and construction sector. Their portfolio includes land holdings, real estate developments, and companies in the construction and financing space.

Here, Business Today looks at a few of the family’s known investments in real estate and construction.

Koto Housing

Established in 2014, KOTO Housing Kenya is a provider of housing and building solutions, focusing on alternative building technology for affordable housing. Uhuru’s younger sister, Nyokabi Muthama, serves as the Executive Chairman of Koto Housing Kenya.

In 2018, it came into the public limelight after it emerged that Koto was among firms awarded contracts to construct houses for police officers. The firm secured a Ksh2.6 billion contract to construct 2,000 units for officers across the country.

Interestingly, the policy shift that led to the contract being awarded hit real estate owners including President William Ruto, then the Deputy President, whose companies were among that had been leasing out apartments to the National Police Service (NPS).

SEE>Ruto’s Apartments Making Millions in Nairobi

According to Koto, its use of lightweight Expanded Polystyrene (EPS) panels that provide permanent formwork to reinforced concrete for columns and beam structures is able to reduce the time taken to put up a house by more than 50% while reducing costs by over 10% compared to conventional building methods.

The company also has had financing partnerships in place with institutions including Jamii Bora Bank and NCBA, in which the Kenyatta family has a 13% stake.

Cemex Holdings Limited (C-Max)

Cemex Holdings is a factory that manufactures EPS (Expanded Polystyrene Sintered) panels. The company trades under the brand name C-MAX. It is headquartered along Thika Road.

“C-MAX® is a Kenyan Advanced Building product factory powered by the world-famous Emmedue (M2) Technology, the world leader in EPS construction products,” the company notes.

Kenya Clay Products (Clay Works)

Kenya Clay Products is a large-scale manufacturer of bricks and other clay-related construction materials. It is headquartered along Thika Road, next to the Cemex Holdings facility.

Northlands City

The family in 2015 made a formal application for an environmental audit of their planned Northlands city project, offering a glimpse into the massive planned real estate development. The project is a mixed-use development sitting on an 11,000-acre farm in Ruiru currently occupied by market-leading dairy processor Brookside – a company majority owned by the Kenyattas.

At Northlands, a total of 3,570 acres have been set aside for residential housing—including low density residential (3,134 acres), high density residential (306 acres) and medium density residential (130 acres).

The medium residential area is slated to have 670 town houses and 368 housing units in flats while the low density area is expected to include 601 villas and 1,320 townhouses.
The high-density residential area will feature blocks of flats with 6,980 housing units and 3,100 townhouses. 390 acres were allocated for a business district, including 33 acres for a mall/hotel and two acres for a clubhouse.

A Strategic Environmental Assessment (SEA) report for the project indicated that it was designed to support a population of 250,000 people.

NEXT READ>7 Luxury Hotels Owned by the Kenyatta Family

 

 

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