Rendeavour, Africa’s largest urban developer responsible for Tatu City, the 5,000 mixed-use development, has announced that 80 per cent of Tatu Phase One Industrial park – has been sold out. Over 40 companies have taken up space and are operational, constructing facilities or planning development, representing over USD 500 million of investment.
The master developer has also announced that phase two (457) of the Industria park is now open for sales.
“Tatu Industrial Park alone will create over 18,000 construction jobs, and over 24,000 permanent jobs. Multinational, regional and local companies are set to invest over USD 2 billion in state-of-the-art industrial facilities when Tatu Industrial Park is complete,” Nick Langford, Kenya Country Head for Rendeavour.
As a Special Economic Zone, Tatu City offers low corporate taxes and zero VAT, among other benefits.
Companies operating in @Tatu_City are exempted from;
1. VAT
2. Income Tax
3. Custom & excise duties
4. Stamp Duty
5. Work permit quotas https://t.co/vA4HH339MC— Kenyanwallstreet (@kenyanwalstreet) June 2, 2017
A recent study by consultancy JLL shows almost two-thirds of companies in Kenya lack warehousing space. Out of the 52 companies polled across Kenya’s manufacturing, FMCG, pharmaceuticals, logistics, import, export, retail and e-commerce sectors, 62% reported that they had experienced some form of warehousing shortage in the recent past that caused them the extra expense.
“Tatu City is able to deliver premium-grade industrial facilities suited to buyer’s requirements, on time and within budget,” said Dean Shillaw, Head of Commercial Sales for Tatu City. “More than 50% of the roads in Tatu Industrial Park are now completed to asphalt standard. This, combined with the convenient location, make Tatu City an un-paralleled destination for business,” Shillaw continued.
Leading local and international companies including Dormans, Kim-Fay, Unilever, Chandaria Industries , Africa Logistics Properties, Freight Forwarder Solutions, Stecol, Davis & Shirtliff, Pharma Medical, Hunkey Energy, Tianlong, Gallagher Security Systems, Rhodium Steel, Monwalk Investments, Keppel Industries, Kifaru, Agro Solutions, Transport and Lifting Services, Jilk Construction, Wonderpac Industries, Selenite/Friendship Group, Cooper K Brands and Premier Motors have bought serviced land at Tatu Industrial Park. The companies are spread across many sectors, including energy, light manufacturing, assembly and distribution, warehousing, FMCG, agri-industry, F&B and construction.
