Fusion Capital is pleased to announce its latest investment in Meru Greenwood Park, a Kes. 2billion integrated development in the heart of Meru County. Fusion has partnered with local investors through a joint venture SPV, and the project is scheduled to commence in January 2015.
Meru Greenwood Park is located in the central business district on a 7-acre piece of land, along the Nairobi-Meru road. The project is envisaged to have a 25,000sqm shopping mall, Grade A office block occupying 20,000sqm, 50 apartments of 2 and 3 bedrooms, and a public car park that can fit 240 spaces. Other amenities include a swimming pool, sports club and cinema theatre.
The Governor of Meru, His Excellency Peter Munya says, “This is one of the landmark developments and biggest single private investment in Meru and we intend to make it a destination for Eastern Mt Kenya region, supporting the development plan of the county.” Meru is currently a hub of agricultural and tourism activities.
With more and more opportunities opening up in the counties, Fusion is proud to take one of its major projects to the county sphere to spur development and leisure activities. “We anticipate to create employment and market outlets through providing professionals and SMEs an opportunity to enjoy top of the range facilities”, says Mr. Luke Kinoti, Fusion Group Chief Executive.
This investment is part of the county strategy adopted by Fusion Capital in 2013 where it prioritised 7 counties in its first phase. The company has already invested in 6 counties including Nairobi, Mombasa, Nakuru, Kajiado, Kiambu and Muranga. Meru becomes the seventh county and expects to move to Kisumu.
Meru currently houses all major banks, and is considered the commercial hub for Eastern Central Kenya. With a population of about 1.5 Million and an urban population of over 30,000 people, Meru provides an ideal investment environment of this kind. Fusion hopes to tap into the growing market whilst capitalising on the LAPSSET project that is coming.
Daniel Kamau, Director of Real Estate at Fusion adds that “the office space, shops and apartments will be available for both rental and sale to local and international investors”.
Source: AVCA
