Actis Invests in Nairobi’s Largest Shopping Destination (Sub-Saharan Africa)

Source: Actis

Global emerging markets private equity firm Actis has made a real estate investment in Kenya. Garden City, a 32-acre mixed-use development in Nairobi, will include a retail mall, commercial facilities, 500 new homes and a 4-acre central park with an outdoor events arena. Financial details of the transaction are undisclosed, but local reports estimate Actis’s investment to be around US$150 million. Garden City’s developers plan to attain LEED (Leadership in Energy and Environmental Design) certification and complete construction by May 2014.