8 July 2013: Garden City granted Vision 2030 Partner Status
Garden City, the $250million mixed-use development set on 32 acres of land on Nairobi’s Thika Highway has been granted Vision 2030 Partner status.
The endorsement by the Vision 2030 Delivery Secretariat Board reaffirms Garden City’s position as a flagship project that will set the bar for property development in the region. It also recognises the development’s potential for job creation and its contribution to Kenya’s economic growth.
The scheme is being financed by Actis, the pan-emerging markets private equity firm. Commenting after signing a Memorandum of Understanding with Vision 2030, Actis Managing Director for East Africa Michael Turner said: “We are delighted that Garden City has been recognised by the Kenyan government as a project that is in line with the Vision 2030 objectives. Garden City is a unique and exciting infrastructure scheme that will not only contribute to the growing demand for housing but also play a big role in building an increasingly sophisticated retail culture in Kenya.”
Congratulating Actis and its partners for this major milestone, Vision 2030 Secretariat Board Director General Mugo Kibati said: “Besides the sustainability and all positive attributes that Garden City prides itself in, I have been informed that phase 1 of the project will result in the creation of approximately 600 permanent jobs mainly targeting local Kenyans and over 300 jobs during the period of construction, the multiplier effect is enormous. This project is an example of the holistic initiatives that contribute towards our social, economic and political pillars that we are encouraging and fully welcome.”