9 September 2015: Actis’ $540m Garden City project opens with announcement of additional Garden City Business Park
Garden City, East Africa’s first integrated residential, retail and office development, officially opened today with the announcement of a new Business Park.
Brought to market by Actis, the leading emerging market investor responsible for the Junction Mall and Nairobi Business Park, Garden City is a $540m flagship project comprising one of the largest retail malls in Africa (offering approximately 50,000 square metres of retail space), over 400 high end residential units, c. 60,000 square metres of offices space and a central park with a dedicated events stage, open to all. It is also home to the largest solar paneled carport in Africa, situated on the mall’s roof.
At the official opening this evening, in the presence of over 400 distinguished guests, including the Governor of Nairobi, Dr. Evans Kidero, Actis announced the new Garden City Business Park to be developed on an additional 21 acres of land adjacent to the original 32 acre site.
Situated 9km from the Central Business District (CBD), with excellent access between Exit 7 and 8 of Thika Highway, the Business Park is the newest addition to the Garden City project bringing the total to 60,000 square metres of modern executive offices with market leading parking ratios. A 4 star business hotel and a hospital are also part of the new plan, with their own secure entrances, green spaces and a pedestrian boulevard linking the Business Park to the Mall and park with all its amenities.
David Morley, Head of Real Estate at Actis commented: “We select some of the most dynamic African cities in which to create innovative, international quality retail developments that become destinations. Garden City is a great example.”
Michael Turner, Head of Actis’ Nairobi office added: “Our vision for Garden City is to build a new and exciting address that meets the multiple needs of Nairobi residents. With the completion of the first phase and the addition of the Garden City Business Park, we are one step closer to this vision. The new office park, targeted at Nairobi’s growing business community, will benefit from the huge range of dining, shopping and leisure activities at Garden City Mall as well as hotel and hospital facilities.”
The Perfect Mix
The first phase of Garden City Mall opened its doors on 28 May 2015 with 33,500 square metres of retail space spread across 3 floors, already home to over 120 stores, offering a wide selection of international and the best Kenyan brands.
Garden City Mall boasts the first Game store in Kenya (which is part of the Walmart Group) as well as Nakumatt, TAAC Store, Victoria Courts, MAC Cosmetics, Safaricom, Art Café, and Mambo Italia, with all shops and 16 eating destinations arranged around light and airy terraces overlooking the park. The gardens are designed for the whole family to enjoy, including play fountains and children’s playground, art installation by local artist Peterson Kamwathi, and an open air amphitheatre, hosting an extensive programme of events and shows throughout the year.
Phase one of the project also includes 76 sold out two and three bedroom apartments and duplexes, and development of the second residential phase is already underway, adding 56 spacious 4 bedroom villas and 83 apartments into the mix.
In common with other Actis projects, Garden City has sustainability at its core and will be the first mixed-use development in East Africa to gain LEED’s green certification. The project was awarded Vision 2030 status by the Kenyan Government in recognition of its economic growth impact shortly after breaking ground in July 2013.