– 1,100 direct and 500 indirect jobs to be created during the construction phase
– The complex marks Gateway Africa and Verdant Ventures’ first development in Kenya
– Follows successful partnership with Verdant Ventures on similar project
The Nairobi urban fabric will soon feature a new landmark with the development of a world-class medium density housing complex for the U.S. Department of State.
The complex marks the first development in Kenya in a joint venture by Gateway Real Estate Africa (“Gateway Africa”) and Verdant Ventures, following a successful collaboration on a similar project in Ethiopia.
Gateway Africa is a Mauritius-based private real estate development company specializing in the turnkey construction of accommodation for multinational corporations and retailers wishing to expand their operations on the African continent. Verdant Ventures is a US-based real estate development company focused on diplomatic housing in Africa. The landowner, Nebange Limited, will be a profit participant in the partnership.
Greg Pearson, founding member and CEO of Gateway Africa, and Russ Murphy, CEO of
Verdant Ventures released a joint statement, commenting:
“We are particularly proud to have the US Government as a major tenant. This project further cements the relationship between Gateway Africa and Verdant Ventures following our successful collaboration in the past. Kenya represents an important base for us from which we can build into the rest of East Africa, and we are excited about the real estate prospects in Nairobi.”
Aevitas Group, in collaboration with a local Kenyan architecture firm, Design Partnership Ltd, has been tasked to design this quality development. Construction is set to commence October 2020 and will create an estimated 1,100 direct and 500 indirect job opportunities. The completion date is earmarked for April 2022.
“We will be making use of both local and international architects, mechanical and electrical consultants as well as civil and structural engineers. Services such as quantity surveying, project management, construction and other sub-contracting services will be sourced locally, as we have had success previously with local companies such as MaceYMR. Materials will be sourced locally as far as possible, with only specialist items being imported,” Pearson concluded.
About Gateway Real Estate Africa
Gateway Real Estate Africa is a private real estate development company registered in Mauritius. It specialises in turnkey construction of accommodation for international companies and retailers who wish to expand their operations on the African continent. The company creates value for shareholders through development, through rental income from tenanted developments and through the sale of assets at the appropriate time.
About Verdant Ventures
Verdant Ventures’ mission is to provide high quality real estate projects across Africa and other developing countries meeting diplomatic and international standards creating satisfied customers, empowered workers, and delighted investors. Verdant Ventures is led by a world-class real estate development and investment team with decades of combined on-the-ground operational experience in Africa.
