This article is taken directly from the source cited and does not necessarily reflect the position or opinion of AmCham Kenya
By The Star,
Published June 22, 2021
Konza Technopolis Development Authority has an early bird incentive to investors taking up land for development at Konza Technopolis.
As a master-planned smart city, the authority has attributed lease fees to each parcel which include stand premium, one-off payment and annual ground rent.
Stand premium has now been discounted to early off-takers committing to paying the stand premium on or before 31st December 2021 and ready to start the construction before December 2022.
Making the announcement during an investor conference hosted by the Authority, the ICT PS Jerome Ochieng noted that the offer is applicable to investors who complete the stand premium payment on or before 31st December 2021.
The PS reiterated the government's commitment to supporting investors to take up space at Konza Technopolis.
“Our commitment, as a government is reinforced by our actions and in the recent budget allocation for the year 2021/2022, we as the parent ministry have set aside over 70 per cent of the budget for the development of this project.”
During the conference investors who have made payments for their parcel of land were given access to the property.
The 400 acres of Phase One of the project has attracted more than 40 per cent uptake by investors.
The government has allocated about Sh18 billion for the project in the 2021/2022 Financial Year’s budget.
During the event, KoTDA unveiled its investors' handbook which highlights the opportunities available for investors.
Chairman Reuben Mutiso said that other than the development of the National Data Centre and the horizontal infrastructure, the development of the Konza Conferencing facility, the Modern Security Command Centre, and Konza Apartments is ongoing.
Mutiso said this will provide key services to the residents and investors.
The Chairman urged investors from both the private and the public to consider taking up the investment opportunities adding that it’s only through partnerships with investors that they will be able to realize the dream of Konza.
Upon its completion in 2030, Konza Technopolis is expected to position Kenya as a knowledge-based economy and a preferred Science, Technology and Innovation (ST&I) destination.
The city is expected to generate 17,000 direct jobs at the end of Phase 1 and have 200,000 residents at the end of 2030.
Last month, Kajiado, Makueni and Machakos counties said it will allocate 73,000 acres to Konza Technopolis Development Authority in a newly signed partnership with the national government.
The partnership was sealed through a Memorandum of Understanding signed by governors Joseph Ole Lenku (Kajiado), Alfred Mutua (Machakos), Kivuta Kibwana (Makueni) and Cabinet secretaries Joe Mucheru (ICT), Najib Balala (Tourism) and Farida Karoney (Lands).
The signing was witnessed by Interior CS Fred Matiang'i at Harambee House, Nairobi.
The MoU will facilitate the proper planning of the belt, the first of its kind in the country, to make it attractive to investors while enabling the development of a sustainable and resilient smart city, Konza Technopolis.
Source: The Star
