Hounen, a multi-national real estate developer and solar energy manufacturer, has announced more than 63,000 sqm of developments in Tatu City.
The company, which has developed successful manufacturing, logistics, hospitality, and residential projects in China, Indonesia, Cambodia, and the United States, has selected Tatu City as the hub for its investments and operations in Sub-Saharan Africa.
The investments in Tatu City SEZ include:
A 43,500 sqm mixed-use development in Tatu Central, the living and business district of Tatu City, including integrated office, retail, commercial, and residential areas to attract global investors to Kenya. The landmark development will feature four 21-26-storey towers.
A solar panel manufacturing plant located at ALP North Logistics Park at Tatu City.
A 1.3MW solar plant on the roof of The Link, Tatu City’s Small and Medium Enterprise warehousing.
The investments are expected to create more than 2,500 jobs.
At a signing ceremony presided over by John Mwendwa, CEO of the Kenya Investment Authority, Jufang Lyu, Founder and Chairwoman of Hounen, said: “Over the last two decades, Hounen has charted an ambitious path of growth in Asia and the United States. Our entry into Africa represents the next chapter of our development, and we are pleased to make Kenya and Tatu City SEZ the hub of our investment strategy.”
“Hounen’s arrival in Africa is yet another validation of Kenya’s investment-friendly environment, underpinned by our Special Economic Zone framework,” said KenInvest CEO John Mwendwa.
Stephen Jennings, Founder and CEO of Rendeavour, the owner and developer of Tatu City SEZ, said, “Tatu City has become a global business hub, where Kenyan and multi-national thrive in a sustainable and holistic environment, with businesses, schools, mixed-income homes, and unrivaled recreation and green spaces in one of the most beautiful countries on earth.”
Hounen also announced its intention to develop additional real estate projects at Tatu City, including a retail village and executive residences.
Tatu City, Rendeavour’s flagship development in Kenya, welcomes 25,000 people daily who live, work, and study within its dynamic community.
The city is home to more than 100 companies, either operational or under development, representing over USD 3 billion in investment from Kenya, United States, China, United Kingdom, Norway, United Arab Emirates, New Zealand, Switzerland, Spain, Germany, the Netherlands, and South Africa, as well as major international institutions such as the World Bank, African Development Bank, British Investment International, U.S. International Development Finance Corporation, Finnfund, Norfund, Soros Economic Development Fund, and Grand Challenges Canada.
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