Chigwell Holdings, the real estate developer behind Langata’s Phenom Estate, has acquired 47 out of 120 acres set aside for residential development at Tilisi mega-city. This opens way for the second phase of development after the completion of its logistics industrial park that sits on 85 acres.
An acre at the Limuru-based Tilisi goes for not less than Ksh33 million. African Logistics Properties has developed half of the Tilisi Logistics Park, the second such infrastructure after its Tatu City warehouses.
The total amount of money incurred on developing infrastructure for the phase 1 amounted to Ksh830 million plus an additional Ksh100 Million spent on constructing Ngecha Chunga Mali road.
Palkesh Shah, Chigwell Development Ltd’s Director says developing on Tilisi will deliver substantial savings enabling it to continue with construction of superior housing at competitive pricing.
“In addition,with the expansion of Waiyaki Way to a six lane highway, we see Tilisi as a strategic location for our future developments,” he said during the launch of the second phase of the Tilisi Mega City expansion.
Mr Shah says Chigwell will develop 184 middle-to-high-income (3,4 and 5) bedroomed homes including towns houses and villas.
A unit will go for at least Ksh40 million.
Phase two will also involve construction of retail, educational, medical and recreational facilities.
“The opportunity to create sophisticated and structured cities that achieve lower costs for developers and deliver beautiful and multifaceted environments for residents is now moving us into the decade of the African mega-city,” said Tilisi’s co-Chief Executive Ranee Nanji.
The 400-acre Tilisi, which commenced construction in 2017, is one of the five mega-cities in development on the outskirts of Kenya’s main cities and part of a rising class of real estate across Africa. There are now more than ten master-planned cities underway across the continent including Vision City in Rwanda, Waterfall City in South Africa, Roma Park in Zambia and Appolonia in Ghana.
