Chinese To Set Up A Mega City Worth 200 Billion Shillings in Kenya

By Soko Directory Team / Published March 23, 2019 | 9:08 am



Nairobi

Talk of China slowly becoming part of Africa and influence key developmental decisions would soon coming to reality with Kenya leading the way.

Soon the Chinese will have their own cities in Africa and Kenya might just be the first one to start writing this history that will act as a reference for generations to come.

A Chinese real estate group has announced that it has plans to construct a mega city in Athi River (Nairobi) at an estimated cost of 200 billion shillings.

China has already set a mark in Kenya through the construction of the Standard Gauge Railway (SGR) with the cost being in form of a loan of 324 billion shillings from Exim Bank of China.

The government of Kenya is in talks with the government of China to secure another loan of 270 billion shillings for the construction of the second phase of SGR.

According to Beijing Damei Investments Company, the planned city will be known as Friendship City and will be modeled along the mega Chinese parks that comprise homes, factories, and amenities like hospitals, schools, and shopping malls.

The construction of the new Chinese city will start later this year (2019) and will cover an area of about 1,200 acres of land. The city will have a capacity of housing at least 150,000 Kenyans.




About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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