A Chinese real estate company has revealed plans to set up a Sh200 billion city in Kenya.
Dubbed “Friendship City”, the investment project will sit on 1,200 acres of land in Athi River.
The Business Daily reports that the modern city will comprise of residential homes, factories, schools, hospitals and shopping malls among other facilities.
The project is being undertaken by Beijing Damei Investment, a giant Chinese real estate firm.
Kenyan businessman Bobby Kamani whose family company Zuri Group has interests in the project has divulged that the construction of the city will begin later this year.
Friendship City is expected to hold a population of about 150,000 and will have the status of a Special Economic Zone, a township and five different functional parks.
Beijing Damei Investment Director Jiannan Bao says the city will initially attract foreign direct investment of approximately Sh200 billion into the country and Sh756 billion once completed.
It is also expected to directly employ 150,000 people and 500,000 people indirectly.
“There exists the potential of direct employment of 150,000 people whilst indirectly employing close to 500,000 people, thus impacting over 2,000,000 lives,” says Bao.
Friendship City’s plan is borrowed from the Chinese urban development strategy.