Tatu City sponsors vow to soldier on despite fallout

Tatu City sponsor Stephen Jennings (left) with Dorman’s Chairman Jeremy Block. So, far, over $100 million (Sh9.8 billion) has been invested on the Tatu City project, which has fallen behind schedule by about four years. PHOTO| FILE| NATION MEDIA GROUP 

In Summary

• So, far, over $100 million (Sh9.8 billion) has been invested on the Tatu City project, which has fallen behind schedule by about four years.
• Despite a series of court cases bedevilling the firm, Mr Jennings noted that the firm is at a very advanced stage on a number of big housing joint ventures which would be announced over the next few months.

By JOSHUA MASINDE
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Majority shareholders in the multi-billion shilling Tatu City project have vowed not to give up plans to develop the project despite bitterly falling out with local partners.

According to Stephen Jennings, founder and chief executive officer of Rendeavour, a company that holds 99.8 per cent stake in the project, said the firm has filed criminal charges against a local shareholder on allegations of stealing land worth Sh9 billion from the developer.

“We are very confident the criminal charges are going to be made against everybody involved in the conspiracy to steal the land,” Mr Jennings, said.

So, far, over $100 million (Sh9.8 billion) has been invested on the Tatu City project, which has fallen behind schedule by about four years.

Despite a series of court cases bedevilling the firm, Mr Jennings noted that the firm is at a very advanced stage on a number of big housing joint ventures which would be announced over the next few months.

“Some of those will involve between 1,000 and 5,000 units. Most of the roads have been graded, the water and the sewage lines are being developed and we are connecting high voltage electricity,” he said, of the Kiambu-based project that sits upon 1,000 hectares of land.