State woos French investors for Nairobi renewal

The government has invited French investors to put their money in two projects aimed at expanding Nairobi’s central business district and “remodeling” Eastlands.

Through public-private partnerships, government is seeking Sh28 billion for Railway City and Sh358 billion for the Eastlands Urban Renewal Project.

Pitching the projects, Housing Principal Secretary Charles Hinga urged a delegation of French businesses to increase their investment as he outlined the opportunities in the projects.

The lobbying is ahead of an Africa-France Summit next year themed on “sustainable cities and territories”. 

Mr Hinga cited land as a headache for investors, hence the reason the government had opened up over 400 acres for the Railway City to private sector.

“There will be various components that will be available to French investors to come and engage us ... The entire 400 acres will not be given to just one person, we want to engage with serious people who can put the balance sheet behind their mouth,” he said.

The French companies are involved in construction, architecture, energy and IT, and include Tactis, Ragni Groupe, Architecture Studio, Archetype Group, Interhydro and Elydan Ryb.

They are part of Business France, an agency that promotes French firms internationally.

Railway City is expected to be completed in the next 20 years and will involve three phases: Railway infrastructure will gobble up a huge chunk of the project at Sh17.5 billion followed by water supply and construction of roads and pavements that will take Sh3.9 billion and Sh2 billion respectively.

In Eastlands, the Housing ministry and Nairobi County Government plan to construct 117,000 houses to replace the existing 15,000 in the area that houses about 55,000 households.

Since last year’s State visit by French President Emmanuel Macron, companies from the European country have increased their activities in Kenya. with deals worth three billion Euros in the pipeline.