The government has called on investors in the housing sector to embrace high-rise developments to maximize land use and protect Kenya’s shrinking agricultural land from rapid real estate expansion.
Speaking during the Kenya-Saudi Investment Forum at Tatu City, Investment, Trade and Industry Cabinet Secretary Lee Kinyanjui said counties such as Kiambu and Kajiado are steadily losing fertile farmland to residential developments, posing a long-term threat to the country’s food security.
“Agricultural land is being consumed rapidly by residential constructions, particularly in Kiambu. The more we go vertical, the more we shall have land available for agriculture. This development will help us address long-term food security challenges,” said Kinyanjui.
He made the remarks during the signing of an equity investment agreement under which Saudi Arabia’s Mabani Aljazeera Holding Group, invested in Jabali Towers, Tatu City’s flagship mixed-use residential development within the Special Economic Zone.
Kinyanjui said the investment demonstrates growing international confidence in Kenya’s economy and sends a strong signal that the country remains a preferred destination for investors seeking opportunities on the African continent.
He commended Tatu City for creating an investor-friendly environment and assured investors of continued government support.
The Cabinet Secretary also urged Kenyans living abroad to channel their earnings into productive investments back home, noting that about 800,000 Kenyans in the diaspora remit billions of shillings annually.
He encouraged them to invest in housing, manufacturing and agribusiness, saying the government has strengthened the investment climate through Special Economic Zones, investor incentives and policy reforms.
He also noted that the removal of visa requirements for travellers from across Africa has further enhanced the country’s position as a regional investment destination.
“The stability of the Kenya shilling over the past two years, even during periods of global economic uncertainty, coupled with visa-free travel from across Africa demonstrates the country’s resilience and makes it one of the most attractive destinations for investment in the region,” he added.
The Chairman, Mabani Aljazeera Holdings Abdullah AlMalki, said the investment reflects the company’s commitment to strengthening economic ties between Kenya and Saudi Arabia through projects that promote sustainable growth, job creation and technology transfer.
Founder and CEO Rendeavour, also the owner and developer of Tatu city Stephen Jennings said the partnership underscores rising global investor confidence in Tatu City as a premier investment destination.
He said the two 27- and 33-storey towers are expected to create about 700 direct jobs, while further strengthening investment ties between Kenya and Saudi Arabia.
- by Muoki Charles
