Acorn Group Kenya injects US$455m into a Real Estate project

Acorn Group Africa, a real estate firm in Kenya is going to inject US$455m into a real estate project that will see the firm construct shopping malls, commercial offices, residential properties and commercial hotels in Nairobi, Lukenya and Kitengela. The project is expected to commence in October this year with funds sourced through equity and bank loans. The firm aims to meet the growing demand for retail and residential property by both the low and middle income segment driven by.... Read more »

Posted on : Saturday , 6th September 2014

Hyatt Regency Arusha, Tanzania to be constructed at US$60m

Hyatt Hotels Corporation has entered into a partnership with ASB (Tanzania) Limited that will see the later construct a new 300-room five star hotel. The new hotel will be called Hyatt Regency Hotel Arusha. The building permit was awarded to ASB on May 7th this year. Located at the heart of Arusha, the 300-room five-star hotel will be in close proximity to some of Africa’s most famous natural landscapes and national parks, including Tarangire National Park and Mount.... Read more »

Posted on : Saturday , 6th September 2014

Tetra Tech signs US$25m contract for Phase 1 of Konza City

Tetra Tech Inc will oversee development of phase 1 of Konza city following the signing of a contract between them and Konza Technopolis Development Authority (KoTDA). Colorado-based Tetra Tech was selected as the Master Delivery Partner 2 (MDP2) in the Kenya’s smart city construction project. Other partners in the MDP2 consortium are 11 firms from Netherlands, UAE, US, Germany and five firms hail from Kenya. According to the Vice President at Tetra Tech Inc Mr. Michael.... Read more »

Posted on : Saturday , 6th September 2014

Merali to construct US$23m office block in Nairobi, Kenya

Businessman Naushad Merali has made plans to construct a US$23m office block in Westlands, Nairobi. Rivaan centre is conveniently located just off Waiyaki way and Brookside drive. Located on the periphery of Westlands, it is minutes away from the CBD and Gigiri and is in the heart of Nairobi’s upcoming and affluent residential and retail neighborhoods. The new office development will be constructed on Muguga Green, off Brookside Drive. Construction works have already started.... Read more »

Posted on : Saturday , 6th September 2014

Tanzania to construct 50, 000 houses in a US$ 48 m real estate project

A total of USD 48.24 will be used in the first phase construction of houses in Tanzania to provide shelter for public servants. The real estate project will be funded by the government of Tanzania. The construction of the houses will be done in collaboration with a real estate developer, Watumishi Housing Company (WHC). WHC also manages overseas real estate investment as a fund management company through the Real Estate Investment Trusts (REITs). The first phase of the real estate.... Read more »

Posted on : Saturday , 6th September 2014

Coca-Cola to `give back` 18.5b litres of water

Beverages maker Coca-Cola has announced an ambitious plan to ‘give back’ an equivalent of 18.5 billion litres of water it uses globally every year in its products and production process by 2020. The firm said the plan is to replenish water used in its products and to support healthy ecosystems and watersheds in local communities in which it operates. By 2020, Coca-Cola plans to have improved water efficiency by 25 per cent as well as treating all waste water from its.... Read more »

Posted on : Saturday , 6th September 2014

Qatar investors to enter Kenya real estate market

Qatar is seeking to enter into the Kenya real estate market. A delegation of Qatari Businessmen Association (QBA) has already visited the Kenya’s Minister of Foreign Affairs and International Trade, Amina Mohamed in a bid to improve ties between the two countries.   The Minister has stated that the visit would open more business opportunities for Qatar. The delegation visiting the minister was led by Dr.Khalid Bin Thani. Kenyan Ambassador in Qatar Galma Mukhe Boru was.... Read more »

Posted on : Saturday , 6th September 2014

Construction of the Juba-Bor Road in Sudan begins

Construction of the Juba-Bor road has started after the signing of an agreement between the Jonglei state government and UNMISS. UNMISS is a Korean contingent of engineers who work for United Nations’ peacekeeping mission in the country.   The contract, signed a week ago, will see UNMISS improve the Juba-Bor road. This road has been tempering with transportation of goods from South Sudan capital, Juba to bor.   Construction works will involve improving 204 km of.... Read more »

Posted on : Saturday , 6th September 2014

Five new hotels to be constructed in Nairobi, Kenya at US$79m

The hotel industry in Kenya is set to receive a boost following the setting up of five medium-sized new hotels in the country.   The hotels are going to be constructed in various parts of Nairobi, with construction works expected to kick off this year. Once complete, the new hotels will increase the number of hotel rooms in the city by 704.   Various firms will be involved in setting up the new hotels. According to a report released by W Hospitality Group, a new Tribe.... Read more »

Posted on : Saturday , 6th September 2014

KenGen to build industrial park in Naivasha, Kenya.

Naivasha, Kenya: Kenya Electricity Generating Company (Kengen) has set aside 1,300 acres in Olkaria Naivasha for the construction of an industrial park. Five sites in the geothermal rich area have already been identified for the park with Kengen targeting high consumers of electricity. According to Kengen Managing Director Albert Mugo, the company will partner with Export Processing Zone Authority (EPZA) in setting up the industrial park. He noted that the company would offer.... Read more »

Posted on : Saturday , 6th September 2014

IFC-World Bank Study Establishes Significant Climate Benefit Of Solar Lighting Products

 A new research study published by the IFC-World Bank Lighting Global program finds that replacing all kerosene lamps in use with solar lights would reduce the equivalent of 5 percent annual greenhouse gas emissions in the United States, or 12 percent of India’s annual emissions. The study confirms that modern solar lighting products designed for low income families without access to grid electricity are far more energy efficient than widely used kerosene.... Read more »

Posted on : Friday , 5th September 2014

Kenya: Standard Railway Project Set for October

 CONSTRUCTION of the multibillion-shilling standard gauge railway is expected to start in October, Infrastructure PS John Kipng'etich has said.   Contractor China Road and Bridge Corporation has started putting up camps at Mariakani, Mtito Andei and Athi River.   The camps will aid the construction of the first phase of the Sh327 billion project covering 609km from Mombasa port to Nairobi.   Speaking when he toured the Mariakani camp yesterday, Kipng'etich.... Read more »

Posted on : Friday , 5th September 2014