Konza City and Tatu City have announced a partnership, seeking to attract investors to Kenya. The companies have said that the collaboration will build both mega-projects’ investment policies and position the two cities at vantage positions for both local and international investors.
According to Tatu City owner and developer, Rendeavour Mendenhall, both cities being Special Economic Zones (SEZ) means they have a number of common interests to attract local and foreign direct investments by creating a favourable economic environment. Special Economic Zone status means that the cities offer reduced corporate taxes, customs and excise duty exemptions, VAT benefits, profit and capital repatriation at reduced rates, as well as enhanced intellectual property rights.
Both Tatu City and Konza City are building on 5,000 acres, each with mixed-use developments, including homes, schools, offices, medical centres, nature parks, sport & entertainment complex and manufacturing for more than 250,000 residents and 30,000 day visitors each.
So far in Konza City, the National Data Centre and Konza Complex are complete while horizontal infrastructure on Phase One is ongoing. In Tatu city, the Tatu Industrial Park, which is one of the largest industrial zones in East Africa, currently hosts over 50 operational companies, representing over KSh70 billion of investment in a key sector for Kenya’s economic development.